As part of its sustainability strategy, the Bank has developed and released a microfinance line covering financial services and solutions developed for social and professional segments with specific needs, difficult access to bank credit and with entrepreneurial profile. The main products of the microfinance line are micro-credit (based on flexible loans) and Micro Savings products(short, medium and long term) .
Addressing the current socio-economic context and in line with its strategy for entrepreneurship, NOVO BANCO Group offers Microcredit in its branch network. In 2016 the NOVO BANCO Group financed 177 projects, corresponding to a total amount of credit of circa €3.2 million, which allowed the creation of 282 jobs. Microcredit has earned the distinction of the United Nations as one of the most effective tools to combat poverty.
Currently, NOVO BANCO Group's Microcredit portfolio holds 1,307 financed projects, corresponding to total loans of €22.5 million (of which 24% were granted under the Microcrédito NB solution) that permitted the creation of more than 2,113 jobs.
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With the increased cost of living resulting from the current social-economic context, it has become increasingly more urgent to adjust the family budget to its respective income. Attentive to this reality, NOVO BANCO provides a number of savings solutions that are adequate for the needs of its customers.
In 2016, the Poupança Programada (Planned Saving) and Micro Poupança (Micro Saving Poupança) solutions continued to be strongly promoted by the commercial network during 2016, allowing the Bank to help its customers hoard savings amounting to circa €73 million.
|Planned Saving||The Planned Saving permits to build up savings from as low as 10 euros per month through the subscription of a monthly plan in which the client sets the amount and the time of month of deposits, thus adjusting the savings to the family budget.||- 308,00 clients|
|- €1,018 million in savings|
|Micro Saving solution||The Micro Saving solution allows any client to start saving money by small amounts through the rounding up of debits of day-to-day expenses (such as residential mortgage loan instalments or personal loan repayments, insurance premiums, or direct debits), which are transferred to a savings account.
||- Used by ca. 39 thousand clients|
|- €11.2 million in savings|
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