1. Caixa Económica Montepio Geral (Banco Montepio) is a Savings Bank (caixa económica) governed by the Savings Banks Act (DL 190/2015). Its transformation into a public limited liability company, which took place in 2017, marks the amendment of its bylaws and related governance model. In a context of greater regulatory and competitive demands, Banco Montepio remains bound by the key values of its foundation in 1844, namely as regards the important role it plays in the context of the social economy, which is based on mutualism;
2. With the election of a new Board of Directors within the framework of a different corporate governance model, Banco Montepio completes the last step of a process of renewal of its legal framework and shareholder relationship. This is in line with the trends and practices that have been determined by the reforms launched following the financial crisis triggered in 2007/2008;
3. Bearing in mind Banco Montepio’s characteristics, in the context of the strategy drawn for Montepio Group, the transformation carried out contains an effective commitment towards efficiency, operational profitability and adjustment of the business model to the most modern and demanding forms of relationship with customers. In this sense, Banco Montepio has established itself as a unique financial institution on the national landscape due to its mutualist origin and basis and, consequently, due to its natural ability as a Savings Institution and as a provider of universal financial services to individuals, at all stages of their life cycle, to all customers in the business sector and, in particular, to the social economy institutions and social entrepreneurs, locally, regionally and nationally based;
4. While developing these various business segments, Banco Montepio shall establish itself as a trustworthy institution, focused in the needs of its customers and the national economy, maximizing the use of its various capabilities. The structure of Banco Montepio Group already reflects that diversity, distinguishing between the commercial and the investment banking (and related activities), and provides the opportunity for autonomous and specialized development of these two major business areas, without forgetting the necessary interaction and respect for the common group goals. On the other hand, in a broader context, existing opportunities for deepening and/or creating common structures to the entire Montepio Group should also be used, in order to obtain synergies that benefit its various organizations, without disregarding the segregation of duties required by the applicable regulations.
5. Being the domestic market Banco Montepio's priority, a prudent management of existing international holdings - in particular in the Portuguese-speaking countries - should be ensured, favouring possible alliances with international institutions with a similar philosophy, namely in the cooperative and social economy sectors;
6. Banco Montepio's social framework places particular emphasis on interpersonal relationships. Its activity is based on a "bank of relationships" between people, whether through a geographical presence or through remote channels, with an intergenerational and interclass positioning;
Deepening the relationship of trust with customers is the major value generator for Banco Montepio and, consequently, for the group to which it belongs. Therefore, improving the service levels, the efficiency and the offer adequacy to the needs of all customers are the paths to pursue with determination and persistence. In this context, it is essential to adapt business models using technological innovation that allows combining increased efficiency with the preservation of a personalized relationship with customers;
7. The commitments made by Banco Montepio are based on pillars of demand, rigor and ethical sense, in strict compliance with the respect for human values and for the people who work for the institution, enhancing its human capital and talent as crucial factors of sustainable development;
8. The commitment assumed by Banco Montepio towards its shareholders are based on the responsibilities assumed with the supervisory authorities, on a strict and scrupulous compliance with the applicable law and the regulatory framework. In particular, the highest standards should be met in fulfilling the recently enforced obligations regarding the requirements of accuracy, completeness and clarity of the information provided to customers on all products offered, as well as the appropriateness of those offers to their recipients;
9. Banco Montepio's management must always be mindful of the business ethics principles, the primacy of customers’ interest and the protection of the savings entrusted to us; of the loyalty to customers, to investors and to supervisory authorities; but also of the solidarity and social responsibility that its vocation and its centenary origin demand. All this, bearing in mind that as a credit institution it will have to adequately remunerate its shareholder(s) on a stable and sustained manner;
10. Last but not less demanding, it must be borne in mind that Banco Montepio's branches are the privileged distribution channel for the offer of the various Montepio Group organizations, with special emphasis on the distribution of mutual solutions offered by Montepio Geral - Associação Mutualista, and its relationship with its members, always in strict compliance with the applicable legal and regulatory provisions.