Business Ethics

Part of the overall mission of the ProCredit group is to set standards in the financial sectors in which we operate. We want to make a difference not only in terms of the target groups we serve and the quality of the financial services we provide, but also with regard to business ethics. Our strong corporate values play a key role in this respect. Six essential principles guide the operations of the ProCredit institutions:

• Transparency: We provide transparent information to our customers, to the general public and to our employees. For example, we ensure that customers fully understand the terms of the contracts they conclude with us, and we engage in financial education in order to raise public awareness of the dangers of intransparent financial offers.
• A culture of open communication: We are open, fair and constructive in our communication with each other, and deal with conflicts at work in a professional manner, working together to find solutions.
• Social responsibility and tolerance: We offer our clients sound, well founded advice. Before offering loans to our clients, we assess their economic and financial situation, their business potential and their repayment capacity. On this basis we help them to choose appropriate loan options from which they can genuinely benefit, and to avoid becoming overindebted. Promoting a savings culture is another important part of our mission, as we believe that private savings play an especially crucial role in societies with relatively low levels of publicly funded social welfare provision. And we are committed to treating all customers and employees with fairness and respect, regardless of their origin, colour, language, gender or religious or political beliefs.
• Service orientation: Every client is served in a friendly, competent and courteous manner. Our employees are committed to providing excellent service to all customers, regardless of their background or the size of their business.
• High professional standards: Our employees take personal responsibility for the quality of their work and always strive to grow as professionals.
• A high degree of personal integrity and commitment: Complete honesty is required of all employees in the ProCredit group at all times, and any breaches of this principle are dealt with swiftly and rigorously. 

These six values represent the backbone of our corporate culture and are discussed and actively applied in our day-to-day operations. Moreover, they are reflected in the ProCredit Code of Conduct.

We also ensure that requests for loans are evaluated in terms of the applicant’s compliance with ethical business practices. No loans are issued to enterprises or individuals if it is suspected that they are making use of unsafe or morally objectionable forms of labour, in particular child labour.

Another aspect of ensuring that our institution adheres to the highest ethical standards is our consistent application of best practice systems and procedures to protect ourselves from being used as a vehicle for money laundering, the financing of terrorism or other illegal activities. Staff members are trained to apply the “know your customer” principle, and to carry out sound monitoring and reporting in line with the applicable regulations. Anti-money laundering and fraud prevention policies are regularly updated and exercised throughout the group to ensure compliance with local and international regulatory standards.

Environmental Standards

All of the banks belonging to the ProCredit group set high standards regarding the impact of their operations on the environment. ProCredit banks take a three-pronged approach to environmental challenges:

Pillar 1:
Internal environmental management system

ProCredit Bank Moldova is putting in place an approach to better understand and improve the sustainability of its own energy use and environmental impact. As a matter of policy, the bank pays careful attention to environmental issues when opening a new branch or refurbishing an existing one. For example, all of our furniture is made from chipboard, a recycled material. We now use energy-saving light bulbs and plan to switch to LED lamps in the very near future. To further protect the environment, we no longer install energy-intensive equipment, such as large air-conditioners. Environmental issues are an essential component of the training provided to ProCredit Bank staff at the local, regional and international level. For example, for their final project, participants in the Young Bankers Programme are required to develop a blueprint for a green business that would not only do no harm to the environment but would even help to improve it. The bank has designated an Environmental Coordinator to be responsible for monitoring our environmental performance, and co-ordinating efforts to improve it.

Pillar 2:
Management of environmental risk in lending

ProCredit Bank Moldova has implemented an environmental management system based on continuous assessment of the loan portfolio according to environmental criteria, an in-depth analysis of all economic activities which potentially involve environmental risks, and the rejection of loan applications from enterprises engaged in activities which are deemed environmentally hazardous and appear on our institution’s exclusion list. By incorporating environmental issues into the loan approval process, ProCredit Bank Moldova is also able to raise its clients’ overall level of environmental awareness.

Pillar 3:
Promotion of “green finance”

ProCredit Bank Moldova aims to promote economic development that is as environmentally sustainable as possible. In 2012, we launched a programme of green finance services consisting of energy efficiency loans for private clients as well as for businesses. This initiative will also involve building relationships with suppliers of environmentally friendly equipment and services, and encouraging them to offer services bearing the EU standard energy efficiency labels. The bank aims to use its green financeservices and approach to increase public awareness and understanding.