Produbanco (Banco de la Produccion SA): Best Bank Governance Ecuador 2020
Over the past four decades, Produbanco has been accompanying its customers through life, from momentous milestones to everyday errands. Produbanco is a member of the Promerica Financial Corporation and has a presence in nine Latin American countries. Its home base is Ecuador, where it boasts a network of around 500 service points and 4,000 agents. The bank helps Ecuadorian citizens and companies by developing empowering financial products and providing a governance structure that adheres to the highest ethical standards. Produbanco is a responsible corporate leader and proactively pursues the UN Global Compact Principles and Sustainable Development Goals agendas. The bank has introduced green savings accounts and credit lines which allow customers to seek credit for eco-friendly initiatives or channel their savings to support projects with real environmental impact. Since 2016, Produbanco has disbursed $181.2m worth of credit to projects that target sustainable productivity, particularly in the agriculture, livestock, forestry and manufacturing sectors. In 2019, Produbanco increased the number of green loans on book by over half, benefitting 245 sustainability projects. The success was fuelled in part by the popularity of those green savings accounts, which have attracted around $3.2m in capital since their launch and contributed more than two percent of Produbanco’s total financing for environmentally friendly projects. For the fourth consecutive year, Produbanco has achieved carbon-neutral certification by implementing energy efficiency protocols across its operations and offsetting emissions through environmental sponsorships. Produbanco first registered on the CFI.co judging panel’s radar in 2017, and it has claimed bragging rights in the awards programme ever since. The judges congratulate Produbanco, the 2020 winner of the Best Bank Governance (Ecuador) award.
