Produbanco Strategic Plan for Economic Growth

Produbanco has set its sights on driving economic growth through a strategic plan that's all about diversifying its services. The bank aims to expand its reach to meet the evolving needs of the Ecuadorian market.

One key focus area is microfinance, which has been a core strength for Produbanco. By offering a range of microcredit and microsavings products, the bank has helped thousands of small business owners and entrepreneurs access the funding they need to grow.

Produbanco's strategic plan also involves investing in digital transformation, recognizing the importance of technology in modern banking. This includes upgrading its online platforms and mobile banking services to make it easier for customers to manage their accounts and access financial services on the go.

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Produbanco was founded in 1978 as Banco de la Producción S.A. by a group of investors led by Rodrigo Paz.

Its first General Manager was José Morillo Battle.

In its early days, Produbanco focused on the corporate segment.

After a decade, it expanded to include business segments, leading to national expansion.

Produbanco started operating under its current name in January 1996, aiming to modernize its image and improve customer service.

In 1996, Produbanco became the core of Grupo Financiero Producción (GFP), a financial group that also included subsidiaries like Casa de Valores PRODUVALORES S.A. and PRODUFONDOS S.A.

Produbanco emerged stronger from the 1999 Ecuadorian financial crisis due to its good management and public trust.

By 2001, the bank had surpassed pre-crisis indicators in quality, client base, and business.

Produbanco began international operations in Panama in April 2006 as a general license international bank.

In 2011, Produbanco sold its shares in PRODUVALORES S.A. and PRODUFONDOS S.A. due to a public consultation that raised concerns about conflicts of interest.

In 2014, Produbanco merged with Banco Promerica Ecuador, a financial institution that was already part of the PROMERICA FINANCIAL CORPORATION group.

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Produbanco's plan estratégico is built on four key pillars: responsablemente administrar los activos, crecer en las Bancas de Personas, Medios de Pago, PYMES y Empresarial, continuar con el liderazgo en la Banca Corporativa, and ser líderes en omnicanalidad.

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These pillars are centered around a customer-focused approach, using the best human team and cutting-edge technology.

Produbanco's goals are to center on the client, develop businesses by strengthening relationships between market segments and deepening client relationships, differentiate through innovation and technology, and capitalize on the company's strengths and corporate image.

Their strategic objectives include focusing on the client, developing businesses, differentiating through innovation, and positioning the company's strengths and corporate image.

Here are the six key objectives that guide Produbanco's operation:

Produbanco is a pioneering fintech company that has been making waves in the financial industry with its innovative approach to banking.

Produbanco was founded in 2015 with the goal of providing financial services to the underserved population in Colombia.

The company's mission is to offer accessible, affordable, and inclusive financial solutions that cater to the needs of its customers.

Produbanco's operations are primarily based in Colombia, where it has established a strong presence in the market.

With a focus on digital banking, Produbanco has developed a range of products and services that are designed to be user-friendly and convenient.

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Produbanco offers a loan program to finance SMEs in Ecuador, with a senior credit line of USD 25m specifically earmarked for this purpose.

This loan program is part of a larger financing package of USD 70m, in partnership with DEG, and has been syndicated by Proparco under the Friendship Facility.

The bank has a nationwide presence, with 104 branches, including in remote rural areas, contributing to the financial inclusion of 54% of the population.

Produbanco's SME activities account for 24% of the bank's outstanding loans, with over 25,600 SMEs financed.

The project is expected to contribute to SDG 8 (Decent Work and Economic Growth) by creating over 1,300 new jobs, as well as 4,600 jobs among the bank's clients.

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