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| Towards an increasingly broad-based market |
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Achieving an increasingly broad-based market requires offering financial products and services that promote social and financial inclusiveness among people, organisations and companies with the capacity and motivation to create value for society.
Through a network of 731 branches (of which 44 are assurfinance onsite branches), BES covers Portugal’s entire national territory across the mainland and the islands (in the Azores, through Banco Espírito Santo dos Açores). In each branch, the client may obtain specialised treatment and detailed information about the range of products on offer, and is given adequate and fair access to the traditional financial products.
In addition to its traditional branch network, BES also has 40 Onsite Branches. These
branches, although much smaller than the regular ones, provide the entire range of products and services with the same efficiency and allow BES to be present in areas of lower population density. In 2010 the Onsite Branches were responsible for 15.2% of the total number of new clients.
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BES Group has consolidated its offer targeting the Social Economy Sector, also known as the Third Sector, which in Portugal is essentially represented by the Santas Casas da Misericórdia, Private Social Solidarity Institutions, Mutual Societies, Social Solidarity Associations (namely the APPACDM - Portuguese Association of Parents and Friends of Mentally Disabled Citizens), Foundations, Parish Centres and social action cooperatives such as the CERCI (Cooperatives for the Education and Rehabilitation of Children with Learning Disabilities).
Through the establishment of two protocols, respectively with the National Confederation of Social Solidarity Institutions (CNIS) and the União das Misericórdias (Social Solidarity Union), BES assumed a pioneering role in the implementation of financial solutions targeting social solidarity institutions and created a network of banking support to social solidarity that covers approximately 80% of the private social solidarity institutions and Misericórdia houses in Portugal.
Within the scope of its strategy for sustainability, BES developed and launched a microfinance facility that includes financial services and solutions designed for social and professional segments of the population with specific needs and difficult access to traditional bank credit.
This offer, which was presented in 2006, is based on a global vision of financing to individuals (Microcredit) and micro and small companies, namely through the FAME programme (support fund to micro companies).
Individual clients
With a dedicated network of managers with full nationwide coverage, BES has been systematically reinforcing its backing for Microcredit, the main objective being to boost the economy and promote employment by leveraging social inclusion by way of addressing the current socio-economic context.
During these last years, this commitment to national entrepreneurship has supported 630 projects amounting to a total of 11.1 million Euros, which has helped to create 1 100 jobs.
By improving the financial inclusion of people with an entrepreneurial spirit, this product generated a revenue that represents 0,6% of the total of credit of Retail segment.
Micro and Small Companies
The Small and Medium-Sized Enterprises (SMEs) represent today the bulk of the corporate fabric, both in Portugal and at European level. In terms of the support provided to micro and small companies, Banco Espírito Santo, in cooperation with the Portuguese municipalities, developed a support fund for micro companies (FAME). Due to its innovative characteristics and impact in terms of supporting the Portuguese corporate fabric and the municipalities, in 2006 the FAME fund was integrated by the IAPMEI (Institute to Support Small and Medium Sized Companies and Investment) into the Ministry for the Economy’s Finicia programme – Axis III.
This product offers extremely competitive and innovative financial conditions, and the amount financed can go up to €45,000 per project.
This important programme of support to business initiatives of regional interest was made possible by the partnerships established between the banking system, the IAPMEI, the municipal authorities and the regional development associations, and also by the involvement of the Portuguese Mutual Guarantee System.
Banco Espírito Santo has in place since 2005 a specific marketing unit specialising in the management of the university segment, the Universities Office. By pooling the capacities offered by its organisation and that of its partners, not only in the financial area but also in other areas that are valued by the university students (such as tourism, health, international cooperation and communications), the Universities Office has pursued a strategy of innovation and effective value creation for this segment with the aim of attracting, bonding and accompanying university students up to their entry in the labour market.
The Bank has a specialised independent central unit responsible for the marketing strategy and management of university students, which, complemented by 6 branches located in universities, and its overall branch network, guarantee an adequate proximity to the universities segment.
In 2012 BES renewed the Protocol with the Polytechnic Institute of Tomar for a period of 5 years and with the Higher School of Nursing of Coimbra. The Bank’s collaboration with the University of Évora, with regard to the BES Renewable Energies Chair, allowed it and various sub-companies to become associated to the Portuguese Solar Energy Institute, dedicated to the development and promotion of this source of energy. BES supported the implementation of access and payments management systems in the Universities of Évora and Trás-os-Montes and Alto Douro. BES also sponsored the redevelopment of the laboratories of the Polytechnic Institute of Castelo Branco.
The BES UP Internships programme, which completed this year its 7th edition, continued to provide a good example of how to give students an opportunity to deepen the knowledge acquired in their courses, enrich their experience and ease their subsequent entry into the labour market.
In 2012 BES signed a new protocol with the Guarda Polytechnic Institute and renewed its protocols with the Trás-os-Montes e Alto Douro University (for another 5 years) and with the Coimbra Higher Nursing School.
In 2011 the BES UP Internships Programme received 3,000 applications (150% more than in the first year) and hosted 195 interns. BES UP is today a reference in Portugal, as well as having a wide reach, covering 18 entities between BES Group companies and outside organisations.
To further increase communication and proximity with the university students, in 2011 BES created a BES UP page on Facebook, a privileged means of communication amongst the young, which already has 20,000 fans.
To recognise merit and excellence, in 2011 BES awarded more than 50 prizes to students who stood out for their high classifications in higher education courses.
BESup’s Facebook page, created in 2012 with the objective of improving proximity and communication with university students now has over 50 000 fans, making it a success story and a main channel for divulging BES’ initiatives that are relevant for this public.
In the current context in which university students feel increasingly concerned about their employment prospects, BES maintained its partnership with PT/SAPO on the BES/ SAPO University Students Employment portal, which considerably improved its offer of jobs, traineeships, voluntary work and opportunities for creating one’s own job. The BES/ SAPO portal, the leading national employment website, also offers a Career Guide, with relevant information on how to pursue a professional career. Finally, the 4th edition of the SAPO Employment virtual fair fostered closer links between companies and young graduates, and was a great succes.
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One of the characteristics of developed countries is an increase in the life expectancy of the population. This has led the BES Group to develop financial products whose specific target public are the older citizens. Through Banco Espírito Santo, the Group has a long-standing track record of catering to the segment of senior citizens, occupying a leading position in retirement savings plans since 1996. In addition to the existing product offer for this segment (Pension Savings Account, Retirement Savings Plan, and Senior Mortgage Loan), the following products were created in 2006:
- “BES 100%|55+” service account, with the same characteristics as the “BES 100%” account but with a slightly higher return on the associated savings account (10 basis points higher);
- “BES Senior Plan”, whose offer is similar to that of the “BES 95” Plans for the other client segments;
- Personal Accident Insurance - BES 55+ - optional for Clients with a “BES 100%|55+” service account, but cheaper than the insurance product sold separately by BES (“Anos d’Ouro”);
- A bonus of 2% in the scoring of personal loans taken by holders of the “BES 100%|55+” service account;
- 10% discount on the Home Insurance sold by BES Seguros;
- 5% discount on the Car Insurance sold by BES Seguros;Besides the financial products and services offered to this segment, the Group, under a joint venture between Banco Espírito Santo and Europ Assistance, also provides a range of non financial services to meet the needs of its senior citizen Clients.
To meet the specific needs and expectations of the immigrants in Portugal, BES Group developed a set of services, solutions and partnerships collectively designated as the New Residents offer.
In 2008 the Bank launched a differentiated phone service – the BES Welcome – with an extended timetable and offering assistance in Russian, Ukrainian and Romanian. BES Group’s concern with adapting its products and services to the specific needs of the New Residents also led it to redesign its website page for the New Residents and translate it into Ukrainian, Russian and Romanian.
BES’ involvement with the New Residents segment was reinforced in 2008 through the signature of protocols with associations of immigrants with the aim of supporting the development of culture, education and healthcare among these communities.
Portugal’s current socio-economic context has led to the growing departure of immigrants, although, and taking into account that Portugal continues to be a country with a significant immigrant population, the Bank continues to back partnerships with immigrant associations with the objective of facilitating the financial inclusion of the families of new residents living in Portugal. The Bank therefore continued to provide the Family Links card, and consolidated the BESXpress China service, which facilitates the sending of money to China and formalised a partnership with Ukraine International Airlines which offers discounts to BES’ clients on the flights of this airline.
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