International Cooperation Projects and Partners

Transcription

20.08.2008
15:02 Uhr
Seite 1
Finanzgruppe
Sparkassenstiftung für
internationale Kooperation
Annual Report 2007
82611_SIK_JB2007_Um_E
Annual Report 2007
2007
International Cooperation
Projects and Partners
s Finanzgruppe 2007
446 Savings Banks (Sparkassen)
Balance sheet total
Savings deposits
Loans to customers
Employees
1,045 billion €
282 billion €
618 billion €
253,696
11 Landesbanken/Girozentralen1 (Regional Banks/Central Savings Banks)
Balance sheet total2
1,898 billion €
Deposits by customers and financial institutions3 925 billion €
395 billion €
Debts evidenced by certificates4
1,097 billion €
Loans to customers and financial institutions3
Employees
57,796
10 Landesbausparkassen (Central Building Societies)
Balance sheet total
New contracts
Capital outpayments
11.2 million contracts with aggregate contractual
savings volume
Employees
51 billion €
34 billion €
9 billion €
Picture credits:
S. 3
© S-Finanzgruppe
S. 6
© S-Finanzgruppe
S. 7
© Schafgans, DGPh
S. 8
© VWU, Vietnam
S. 12 © Sparkassenstiftung
S. 18 © Christina Heuft, Sparkassenstiftung
S. 19 © Andrey Korshunov
S. 20 © Sparkassenstiftung Armenia
251 billion €
8,698
S. 21 © Sparkassenstiftung Georgia
S. 22 © Sparkassenstiftung Azerbaijan
S. 23 © Sparkassenstiftung, Bank Respublika
S. 24 © Marco Rimkus, Sparkassenstiftung
S. 25 © Sparkassenstiftung South Africa
DekaBank4
Fund’s assets
Balance sheet total
Employees
192 billion €
106 billion €
3,553
S. 26 © Eva Schmidt
S. 27 © Sparkasse KölnBonn
S. 28 © Tian Xia, Sparkassenstiftung
S. 30 © Sparkassenstiftung Uzbekistan
S. 31 © City of Essen
12 Regional Insurance Companies
Gross premium income
Employees
S. 32 © Niclaus Bergmann, Sparkassenstiftung
16 billion €
31,000
S. 34 © Rolf Grempel
S. 35 © Bank BPD Aceh, Indonesia
1
2
3
4
Not including DekaBank
Including foreign branches as well as domestic and foreign consolidated Landesbank subsidiaries
(excluding building Landesbausparkassen)
Not including foreign branches nor domestic and foreign consolidated Landesbanken subsidiaries
(excluding Landesbausparkassen)
Figures for the given group
International Cooperation, Projects and Partners
Annual Report 2007
Annual Report 2007 | Foreword
Foreword
its successful project work, Sparkassenstiftung
can rely on the support of all institutions
involved in the Sparkassen-Finanzgruppe,
secure in the knowledge that it can call on the
widest range of financial expertise for its
consultancy work.
Heinrich Haasis
Chairman of the Board of Trustees and President
of the Deutscher Sparkassen- und Giroverband
Social engagement is a matter of course for
Sparkassen and their partners – be it in Germany or in an international context. Working
on this premise, the Sparkassenstiftung für
internationale Kooperation has the task of
passing on German Sparkassen experience to
similar financial institutions in developing,
emerging and transition countries. In so doing,
Sparkassenstiftung makes use of state-of-theart training and consultancy inputs for its
partner institutions worldwide.
In the 1960s the Egyptian government, seeking
to establish a savings banks system, approached
the Deutscher Sparkassen- und Giroverband
(DSGV) with a request for its support. This
marked the start of an intensive and sustainable
development-policy commitment by the
Sparkassen-Finanzgruppe (Savings Banks
Finance Group), which was further consolidated
by the launch of the Sparkassenstiftung für
internationale Kooperation in 1992, placing it in
a more systematic and professional framework.
Over the past 15 years, the Sparkassenstiftung
has been actively involved in some 130 projects,
thereby contributing substantially to financialsector development in well over 50 countries. In
The latest demonstration of this good cooperation is the Sparkassen Reconstruction Fund for
South Asia. Following the tsunami disaster in
December 2004, all of the institutions and
companies that make up the SparkassenFinanzgruppe pooled their resources to set up
this fund with a volume of some EUR 15 million.
Since this time, Sparkassenstiftung has developed and steered consultancy measures for
local banks in Sri Lanka and Indonesia which
are using the fund’s resources to extend reconstruction loans to local small-scale entrepreneurs in the regions concerned. After three
years of successful inputs, project work was
wound up in Sri Lanka at the end of 2007.
Consultancy in Indonesia is scheduled to be
continued with experts from German
Sparkassen through to the close of 2009.
Thanks to the financial resources of the
Sparkassen Reconstruction Fund for South Asia
and the development-policy know-how of the
Sparkassenstiftung, it has been possible to give
new hope to people affected by the tsunami in
Sri Lanka and Indonesia and to help them
sustainably recover their economic livelihoods.
At the same time, the long-term support delivered by German Sparkassen employees has
helped to strengthen and further develop the
local financial sector. This example shows that
the development-policy engagement of Germany’s Sparkassen really does reach the people
on the ground where it helps bring about
sustainable improvements in their living
conditions.
3
(Savings Banks Foundation for
International Cooperation)
Simrockstraße 4
53113 Bonn/Germany
Telefon: +49 228/97 03-0
Telefax: +49 228/97 03-6 13
Email: [email protected]
Homepage: www.Sparkassenstiftung.de
Printed by:
Druck Center Meckenheim
Annual Report 2007 | Table of Contents
Table of Contents
6
Overview
8
8
Spotlight
Helping Women in Vietnam –
Cooperation with the Vietnam Women’s Union
Financial Literacy
11
16
Europe 18
19
Europe/Caucasus 20
21
22
23
Africa 24
25
26
Asia 27
28
29
30
31
Latin America 32
33
Transnational Projects 34
Project Activities
Albania: Strengthening financial literacy
Russia: Financial market development, development institutions
Armenia: Promoting renewable energy supplies
Armenia, Azerbaijan, Georgia: Credit Guarantee Fund
Azerbaijan: Credit line for small and medium-sized enterprises
Azerbaijan: Equity participation in Bank Respublika
Madagascar: Strengthening institutional capacity
and ongoing development of CEM
South Africa: Intensifying retail banking and
strengthening internal management
Rwanda: Fact-finding mission to analyse the finance sector
China: Equity participation in Nanchong City Commercial Bank (NCCB)
China: Establishing joint facilities for the City Commercial Banks
Yemen: Financial services for small and medium-sized enterprises
Uzbekistan: Stepping up SME and personal banking operations
Vietnam: Setting up a microfinance institution
Mexico: Developing savings banks
Mexico: Restructuring savings banks
Bank management training: Austria, Belgium, China, Croatia,
Madagascar, Panama, Serbia
37
Sparkassen Reconstruction Fund for South Asia: Indonesia, Sri Lanka
40
Supervisory and Executive Boards, Head Office and
Representations Abroad
44
Members
5
Annual Report 2007 | Overview
Overview
cooperation is the continuity with which
resources have been provided, thus facilitating
long-term project work with sustainable impacts
and efficient use of funds. BMZ-backed financial
sector projects cover a wide range of contents in
many different fields. This includes enhancing
levels of professionalism in post office savings
banks in South Africa and in national savings
banks in Eastern Europe, establishing bank
training centres in more than ten countries as
well as transforming microfinance institutions
into formal banks in Southeast Asia.
Dr. Holger Berndt
Chairman of the Board
A working financial sector is of central importance to a country’s economic development, just
as it is to a country’s economic and political
stability. The financial sector crises in Asia and
Latin America and the experience gained with
the transition of former Eastern Bloc states and
developing and emerging nations are the latest
examples of this. It therefore makes sense for
development policy to concentrate more on this
aspect.
For more than 15 years now, the Sparkassenstiftung für internationale Kooperation has
been helping developing, emerging and transition countries to advance their financial sectors.
Its central partner from the outset has been
Germany’s Federal Ministry for Economic Cooperation and Development (BMZ). As far back as
the early 1980s, BMZ was already committed to
the systematic promotion of international
development projects in Africa and South
America. Since its inception in 1992,
Sparkassenstiftung, on behalf of BMZ, has
implemented public-benefit projects whose
financial volume adds up to more than EUR 22
million. The special feature of this development
6
Another major partner of the Sparkassenstiftung
is the KfW Bankengruppe (KfW banking group).
Since 1992, KfW has commissioned Sparkassenstiftung with the implementation of projects
whose total volume now amounts to some EUR
11 million and whose focus has been on helping
banks to set up credit lines for small and mediumsized enterprises. At the present moment in time,
KfW is supporting projects of the Sparkassenstiftung in Azerbaijan, Armenia and Georgia.
Projects by the European Union and World Bank,
some of which were awarded following international tender procedures, have provided a
platform for consultancy since the nineties; their
total financial volume to date stands at more
than EUR 12 million. Initially the focus of EUfinanced activities by the Sparkassenstiftung
was geared to advising Central and Eastern
European savings banks on their alignment with
EU standards. At the present moment, an EUfunded project in Russia is engaged in activities
designed to promote economic development in
three selected oblasts (regions). The World Bank,
a key partner of Sparkassenstiftung since 2003,
is currently funding three projects in Mexico.
On behalf of the Mexican government, a group
of almost 200 small and rurally located credit
institutions are receiving consultancy.
Through to end 2007, the EUR 15 million
Sparkassen Reconstruction Fund set up by the
establish and consolidate bank training centres,
develop banking for small and medium-sized
enterprises, transform microfinance institutions into banks or restructure the financial
sector itself.
Dr. Peter Langkamp
Member of the Board and CEO
Sparkassen, Landesbanken (regional banks)
and their partners for the tsunami victims of
26 December 2004 succeeded in providing
some EUR 9 million in micro loans in projects
implemented by Sparkassenstiftung in Sri
Lanka and Indonesia. This figure stands for
approximately 6,000 customer loans that
generated around 9,000 new jobs, thus securing the economic livelihoods of more than
70,000 people. A series of projects implemented
by Sparkassenstiftung are funded entirely or in
part by the foreign project partners themselves.
At the present moment, the costs of the consultancy inputs Sparkassenstiftung is providing in
its partner banks in China and Azerbaijan are
being met by the local financial institutions,
since the inputs extend beyond the scope of
measures eligible for international donor
support. This includes bank management
training, which Sparkassenstiftung has implemented with resounding success to date in
more than 50 seminars in some 15 countries.
In the years ahead, Sparkassenstiftung will
continue to provide consultancy, its ongoing
aim being to strengthen financial institutions,
On top of this, Sparkassenstiftung will engage
in new fields of activity where it will contribute
its extensive know-how spanning more than 15
years of hands-on experience in development
cooperation. A theme of growing importance is
that of the need for basic financial literacy for
all. The Sparkassen-Finanzgruppe through its
consultancy service “Geld und Haushalt” and
its publishing house, the Deutscher SparkassenVerlag, has been actively involved in this field
in Germany for the past 50 years or more.
Nowadays Sparkassenstiftung is increasingly
faced with the challenge of integrating this
expertise into its projects in developing, emerging and transition countries, with a view to
initiating concrete activities there that will
promote financial education.
The Sparkassenstiftung für internationale
Kooperation would like to thank the companies
and institutions that make up the SparkassenFinanzgruppe for their financial support and for
their willingness to make available experts
whose practical experience regularly enriches
Sparkassenstiftung’s project work. At the same
time, we would like to thank the experts themselves for their dedicated services. The
Sparkassenstiftung also wishes to thank the
German Federal Ministry for Economic Cooperation and Development (BMZ), the Deutsche
Gesellschaft für Technische Zusammenarbeit
(GTZ) GmbH, the KfW Bankengruppe (KfW), the
Deutsche Investitions- und Entwicklungsgesellschaft GmbH (DEG), the European Bank for
Reconstruction and Development (EBRD), the
World Bank and, last but not least, all of our
foreign project partners for the funds they have
contributed to our joint projects, for the good
cooperation and for their trust and confidence.
7
Annual Report 2007 | Spotlight
Helping Women in Vietnam –
Cooperation with the Vietnam Women’s Union
The Vietnam Women's Union
With 13.6 million members, the Vietnam
Women's Union is the national representative
of all women. Founded in October 1930, the
VWU has the mission to “unite and enable
women of all strata of the population to learn
and develop their creative capacity in order to
build a happy life for their families, participate
in socio-economic activities, integrate with
women all over the world, raise the level of
education and improve the material, cultural
and spiritual standards of living”1 .
Mrs. Nguyen Thi Thanh Hoa
President of the Vietnam Women's Union
For more than 15 years now, the Vietnam
Women´s Union (VWU) has been providing
microfinance to poor women in northern
Vietnam through its TYM Fund. Being a department of VWU for many years, the TYM Fund
today serves almost 30,000 women. The cooperation project between Sparkassenstiftung and
Sparkasse Essen from Germany, CARD from the
Philippines and VWU as well as TYM Fund from
Vietnam today focuses on the transformation of
the TYM Fund into a licensed microfinance
institution.
1
Resolution of X.
National Women's
The Vietnamese women fought for decades full
of hardship for independence and against
foreign invaders, took the place of the men in
the rice paddies and factories and educated
generations of children. Today women play a
growing role in the Vietnamese society. They
represent 48% of the labour force, 25% of all
entrepreneurs, more than 50% of all university
students, 28% of the deputies of the National
Assembly.
Congress, p. 16
8
Being a mass organization with the main task to
represent the rights of women, the VWU has
early recognized the role of poverty alleviation
for the development, progress and equality of
women. Poverty often includes lack of education, poor health, lack of adequate housing, a
strained family life. Poverty affects all members
of a family, but the people suffering the most
are women and children. Many studies show
that because of gender inequality women are
repeatedly the first falling into poverty and the
last to escape from poverty. One of the main
reasons of this inequality is the lacking access
to financial services, namely credit.
Over many years the VWU has developed a
variety of efficient activities and programs
aimed at enabling women to overcome poverty.
Since 1991, within the “National Program to
eradicate hunger and poverty”, the VWU has
initiated and managed more than 300,000
savings and credit groups providing basic
financial services to more than 4 million poor
women. Since 2003 the VWU acts as the main
partner of the Vietnam Bank for Social Policies
for disbursing their loans for economic development. In addition the VWU manages about 40
microfinance and credit programs which were
originally started by international non-governmental organizations at the central level and in
various provinces.
Today, Vietnam is considered one of the most
successful countries in reducing poverty. The
rate of people living in poverty has reduced
from 58% in 1993 to 14.87% at the end of 2007.
34 million people have escaped from poverty.
This result was possible because of the constant
economic growth of 7 – 8%, but also the right
policy of the Government and the efficient work
of organizations like the Vietnam Women’s
Union.
TYM – a success story
The “Mutual Affection Fund” or “TYM Fund” is
one of the first initiatives started by the Vietnam Women’s Union in 1992 in order to contribute to poverty alleviation via the provision
of savings, credit and insurance services.
Building on the traditional solidarity of the
women and families in the villages, the VWU
adapted the group lending technology of the
Grameen Bank to the specific conditions of
Vietnam. Women within a village voluntarily
formed groups of 5 members and centers
consisting of 6 – 8 groups. Initially all members
receive 2-3 days of training on the rules and
regulations of the TYM Fund and on basic
financial and business skills (what is interest,
how to generate profit etc.). After 3 weeks of
saving 3,000 dong (15 cents), the members can
receive their first loans with a maximum
amount of 5 million dong (300 dollars). Actually
the average amount is even much lower at 2.6
million dong (160 dollars). The repayment
period is usually one year, after one year in the
Fund, members can get a 2-year loan. The
interest rate is 1% per month. The members of
the group and the center help each other in case
of problems and even guarantee the loan
repayment for each other. But in reality, this
rarely happens, because the repayment discipline is so good and repayment rates are
constantly about 99.9%.
A key factor for its success is that TYM over all
these years has always been more than just
another financial institution. With the support
of the local Women's Union, TYM Fund has
gathered poor women together to educate them
and exchange experiences on how to improve
their income, how to start a business, how to
save for the future, but also on problems of
health care, family planning, environment and
gender equality. The women also organize joint
cultural and sporting activities or collect
charitable donations in case one of the families
meets a misfortune. An impact assessment
carried out in 2007 shows that after 6 years in
TYM 50% of members, and after 9 years 72% of
all members have escaped from poverty on a
sustainable basis. 66% have improved their
housing conditions, 94% of all children finish
secondary school.
Another reason for TYM’s success is that it has
built a strong team of committed and qualified
staff. Numbering more than 160, all TYM staff
have been selected not only on the basis of
professional qualifications (all have at least
graduated from a Financial / Accounting
College) but also because of their social commitment and understanding for the situation of
their clients. TYM staff spend up to 80% of their
time going by motorbike to the villages (sometimes more than 10 km away from the branch)
visiting members, organizing center meetings,
collecting savings and loan repayments and
Selected indicators of TYM Fund
Indicator
Unit
2007
2006
2005
2004
2003
VND/USD
16,000
16,091
15,872
15,764
15,147
Branches
Number
23
17
16
15
15
Members
Number
26,767
22,497
22,176
19,691
18,911
Gross loan
portfolio
VND mn
70,039
53,462
51,418
38,457
32,836
%
0.12
0.18
0.07
0.2
0.4
Total savings
VND mn
32,590
29,176
24,309
17,951
11,645
Net result
VND mn
4,717
4,498
4,815
3,853
1,215
%
150
160
182
177
127
Exchange rate
Portfolio at risk
Operational
self-sufficiency
9
evaluating business projects. They do so in a
very efficient and cost saving manner, their
monthly income is barely much higher than
that of their clients. As a result, TYM’s clients are
very loyal, costs are reasonable, and TYM has
been able to generate a small surplus for the
last 5 years.
The efforts and achievements of the TYM Fund
have been highly honoured by awarding the 2nd
Class Labour Order and the National Prize for
the Progress of Women in 2007 on the occasion
of TYM’s 15th Anniversary.
Partnerships for success
The success of TYM would be unthinkable
without the support of many international
friends. The Chairman of CARD, Dr. Jaime
Aristotle B. Alip, has been both father and
midwife of TYM back in 1991 and remained a
loyal partner and friend throughout all the
years. Being a partner of the Sparkassenstiftung
for 8 years (1995-2003) himself, Dr. Alip,
together with the then CEO of Sparkasse Essen,
Dr. Henning Osthues-Albrecht, developed the
idea to bring the joint expertise of Germany and
the Philippines to Vietnam. The idea of the
trilateral partnership project was born. When
Dr. Alip and Dr. Osthues-Albrecht came to
Vietnam in October 2004, the Vietnam Women’s
Union welcomed them with open arms and the
three institutions signed a Memorandum of
Understanding immediately. Since early 2005,
numerous experts from Sparkasse Essen and
CARD Philippines have visited TYM and helped
TYM to improve its management skills, reorganize the branch network, develop an audit
manual, design and implement a computerbased management information system,
improve its financial management and planning skills, identify new friends and partners
and much more. Dozens of staff of TYM and
leaders of the Central and local Women’s
Unions had the chance to visit CARD or Germany to learn from the experience of our
10
friends. The VWU highly appreciates that the
Sparkassen-stiftung has delegated a person to
assist TYM on an everyday basis, and not just
anyone, but a banking and microfinance
specialist who spent 13 years in Vietnam and is
already “one of us”.
The future
The financial sector of Vietnam is developing
fast and helps ever more people to get access to
financial services. But much remains to be
done. In Vietnam still more than 4 million
families live in poverty. Measures combating
poverty take hold at a different pace and are not
evenly distributed; hence the income gap is
widening. The microfinance activities are still
fragmented, scattered across different regions,
small, they follow various different models.
There is not enough exchange and coordination
between the various projects, and there is no
overall strategy on how to integrate microfinance into the financial sector on a long-term
basis. Considering these weaknesses, at its X.
National Congress in October 2007, the
Women’s Union decided that during the legislature 2007-2012 the microfinance activities of
the VWU shall be strengthened and become
more professional. In 2008 the VWU will
consolidate information on all its microfinance
programs, evaluate their efficiency and decide
on the institutionalization of TYM Fund and
some other projects corresponding to the new
regulation on Microfinance. The long-term goal
as decided by the recent National Women’s
Congress is the establishment of a Women’s
Bank.
Financial Literacy
addition there are various other initiatives such
as the business management game “Geld und
Börse” (Money and the Stock Exchange) or the
student banking programme promoted by the
Kreissparkasse Esslingen-Nürtingen. Furthermore, the Sparkassen provide a substantial
volume of funding for credit counselling
centres.
Financial literacy is of importance in developing and transition countries, too. In analogy
with Germany, the aim here is to promote
understanding of financial correlations and to
facilitate better use of financial services and
thus avoid excessive debt.
Dr. Ilonka Rühle
Project Manager
The theme of financial literacy has been at the
heart of public debate for a number of years
now. The reason for this is the rising number of
indebted households, the increasingly complex
options on the market for investing and/or
borrowing money and, not least, the greater
need to plan ahead financially. On top of this
comes the implementation of new EU directives
for consumer loans which has generated a lot of
questions. The EU White Paper “Financial
Services Policy 2005 – 2010” emphasises the
importance financial literacy has for EU Member States.
With all of these issues, Germany’s Sparkassen
have always made a point of being there for
their customers. Ultimately, Sparkassen came
about in order to give poorer population groups
the chance to make savings and so protect
themselves against life’s vicissitudes. Various
facilities operated by the Sparkassen-Finanzgruppe, such as its “Geld und Haushalt” (Money
and Private Households) advisory service and
the “Sparkassen School Service”, have been
providing one-on-one support for decades in all
areas of personal budget management. In
Knowing how financial issues interact helps to
improve living conditions at a personal level –
be it because, having their budgets under
control, people can put aside more money as
savings, or because they can identify the
bestpriced transfer options or because loans
can be handled “sensibly”, i.e. no untenable
levels of credit are taken on.
It is important for people to be able to handle
their personal budget, since savings are often
the only means they have of weathering the
financial ramifications of sickness or unemployment. This is due to the fact that in many of
these countries there are not enough (statebacked) social systems, because tax income is
usually not sufficient to allow such a system to
be established. Traditional safety nets too – such
as the extended family – are increasingly being
eroded (for example through the spread of AIDS
in Africa).
In addition to these aspects, which are more
important at the individual level, financial
literacy is of substantial importance for
strengthening the financial sector in developing and transition countries. Only when lowincome earners, the poor and marginalised
population groups understand precisely what
11
1
The English version
of the study can be
obtained from
Sparkassenstiftung
and/or downloaded
from Sparkassenstiftung’s website.
financial products – such as savings,
microloans and transfers – mean in terms of
their personal well-being will they become
potential customers of (micro) finance institutions (MFI). And this is what secures the
longterm existence of MFI – particularly in rural
areas where any decision to open an MFI branch
office depends on their having a critical mass of
customers.
certainly proved worthwhile from a business
perspective. The same applies to Vietnam, too.
The traditional practice of investing savings in
hens has collapsed due to the repercussions of
avian flu, leaving a large number of people in
search of other savings options. Financial
education measures would be expedient here
too – to strengthen existing customers and to
win potential new customers.
Furthermore, financial literacy promotes a
more favourably priced range of financial
services: The Namibia Post Savings Bank
(NPSB), for example, conducted a campaign
designed to highlight the importance of saving
whilst providing information on the best ways
to compare products. The campaign did not just
involve various types of mass media, but
employed NPSB’s own staff members and a total
of four specially trained teams that even visited
remote villages to provide training. The upshot
was an increase in demand for NPSB products,
in particular the “Smart Card”. NPSB’s successful efforts led competitors – in Namibia these
are essentially four South African commercial
banks – to lower their prices for similar products they are offering. Yet another impact on the
financial market is also evident: Informal
financial service providers (e.g. money lenders
etc.) are becoming less important, because wellinformed customers are no longer prepared to
accept overpriced loans or other financial
products that fail to conform to market conditions.
Sparkassenstiftung’s project partners concur on
this matter, too. CARD Rural Bank and the TYM
Fund in Vietnam thus integrate training
designed to improve budget planning into the
regular meetings held by the borrowers. For this
reason too, Sparkassenstiftung stepped up its
activities in the field of financial literacy in the
year under review. A study funded by the
German Federal Ministry for Economic Cooperation and Development (BMZ) looked at financial training measures in selected countries,
whereby Vietnam, Mexico and Southern Africa
(Botswana, Namibia and the Republic of South
Africa) formed the regional priorities. The study
investigated the impact the offers had on the
target groups concerned and presented those
factors that make for a successful offer1.
The Namibian example shows that financial
education measures are worthwhile for financial institutions – when all is said and done,
customers who save more are potentially more
attractive customers. Other examples drive
home this point: In Mexico there are around 30
million people under the age of 14 – if, through
financial literacy training, a financial institution succeeds in attracting just a fraction of
them as new members, then the costs have
12
Financial literacy is not a panacea for all ills.
Preventing excessive debt through literacy
training can only be effective, if the income is
able to secure the given household’s survival in
the first place. Financial literacy training can
and should complement measures in other
sectors, e.g. general education, fight against
AIDS and consumer protection regulations.
Financial literacy measures by no means
obviate the need to regulate financial institutions. This applies to the creation and consolidation of financial institutions having nationwide operations. If a rural household succeeds
in raising its level of savings through better
budgeting, this is undoubtedly to be welcomed.
However, it remains economically ineffective, if
the household concerned does not have access
to financial services that would facilitate the
profitable and above all safe investment of
these savings – be it because the next branch
office is 50 km away or because deposits are
only accepted as of a certain amount. Seen from
the other side, financial institutions, especially
in rural regions, can only operate on a sustainable basis, if a sufficient number of customers
can generate savings and/or are able to handle
credit.
The objective of the study was to look at existing
measures so as to derive recommendations for
the future design of training offers in the field
of “financial literacy”, whereby the following
proved central to success:
• Clear objectives
• Alignment of training with the social and
cultural context of the target group
• Credibility of service providers
• Suitable distribution channels
• Secure funding over a longer period of time
This is because financial literacy training is a
(life)-long learning process.
Albania, which counts as one of the poorest
countries in Europe, has seen initial hands-on
implementation of results. Here the central
bank has set itself the goal of strengthening the
people’s general financial literacy so as to
protect them from risks, such as overindebtedness due to rash consumer borrowing, and also
so as to demonstrate possible ways of using
financial services in a responsible manner.
information brochures (similar to the budget
book / DSGV budget planner), calculation tools
for financial service offers and work with
various media (in particular with the widely
circulated daily newspapers).
The study showed that what is often lacking is
an approach capable of reaching marginalised
groups in rural areas. This applies, for instance,
to Mexico. In urban areas, a wide range of
measures exists for widely differing target
groups. In contrast, rural areas are often bereft
of any such offers. This is where the pilot project
of Sparkassenstiftung comes in: With the help
of savings banks associations, financial education measures are to be implemented in member savings banks. The associations are responsible for ensuring sufficient materials and
equipment are on hand, for training the trainers
and for general organisation overall, including
assessing and monitoring levels of success.
With their large-scale branch-office networks,
the member savings banks are ideal partners
for rural financial outreach activities.
Generally speaking, savings banks are key
partners when it comes to financial literacy –
this applies to Germany, too. With the
Sparkassen School Service and the “Geld und
Haushalt” (Money and Household) advisory
service along with support by the credit counselling centres, German Sparkassen have been
providing vital inputs in this field for the past
50 years. In keeping with this mandate, the
Sparkassen-Finanzgruppe is the only financial
institution in all Germany that is officially
involved in the UN decade of “Education for
Sustainable Development”.
In close cooperation with the “Geld und
Haushalt” advisory service of the Deutscher
Sparkassen- und Giroverband (DSGV),
Sparkassenstiftung advised the Bank of Albania
on the development and implementation of a
new and extensive communication concept. The
package of measures included the design of
13
Project Activities
15
Annual Report 2007 | Project Activities
Russia
Belgium
Austria
Croatia
Serbia
Georgia
Albania
Armenia
Uzbekistan
Azerbaijan
China
Yemen
Vietnam
Sri Lanka
Rwanda
Indonesia
Madagascar
South Africa
18
Albania
Strengthening financial literacy
19
20
24
Madagascar
Strengthening institutional capacity
and ongoing development of CEM
Russia
Financial market development,
development institutions
25
South Africa
Intensifying retail banking and
strengthening internal management
Armenia
Promoting renewable energy supplies,
Funding small hydropower plants
26
Rwanda
Fact-finding mission to analyse the
finance sector
21
Armenia, Azerbaijan, Georgia
Credit Guarantee Fund
22
Azerbaijan
Credit line for small and
medium-sized enterprises
23
Azerbaijan
Equity participation in Bank Respublika
16
Annual Report 2007 | Project Activities
Belgium
Austria
Croatia
Serbia
Georgia
Albania
Armenia
Uzbekistan
Azerbaijan
Yemen
Mexico
Panama
Rwanda
Madagascar
South Africa
27
28
Transnational Projects
China
Equity participation in Nanchong City
Commercial Bank (NCCB)
34
Bank management training
Austria, Belgium, China, Croatia,
Madagascar, Panama, Serbia
China
Establishing joint facilities for the City
Commercial Banks
35
Sparkassen Reconstruction
Fund for South Asia
Indonesia, Sri Lanka
29
Yemen
Financial services for small and
medium-sized enterprises
30
Uzbekistan
Stepping up SME and personal
banking operations
31
Vietnam
Setting up a microfinance institution
32
Mexico
Developing savings banks
33
Mexico
Restructuring savings banks
17
Annual Report 2007 | Project Activities Europe
“What do the Albanian people want when it comes to
consumer purchasing? And how can they get what they
want?” This and similar questions were at the heart of
cooperation with the Albanian Central Bank, the Bank of
Albania. The photo shows Sparkassenstiftung’s Project
Manager, Stephanie Hagemann, with the brochure “Shape
the future – Plan your finances”. Issued in 2007, this
brochure informs the Albanian people extensively about the
theme of “handling money” and can be used as a planning
tool for individual budget management.
Albania
Strengthening financial literacy
Sparkassenstiftung’s partner in Albania was the
Bank of Albania (BoA). This central bank recognised that it first needed to build up confidence
in the economic and financial system if the
Albanian people were to trust Albanian financial institutions with their money. To do so,
however, meant that the population had to have
basic economic and financial literacy.
For this reason, Sparkassenstiftung’s project with
the Bank of Albania had a two-fold objective:
• Strengthen economic competence of private
households by educating them about systematic financial and budget management
• Boost the Albanian people’s confidence and
the level of integration in the economic and
financial system by promoting the intensive
and target-oriented use of financial services
To this end, a brochure was developed in 2007
with the title “Shape the future – Plan your
finances” which, on the one hand, provides
information on the theme of “handling money”
and, on the other, acts as planning aid that
consumers can use to process their own budget
data.
Country data Albania
Population
3.6 million
Annual per-capita Gross Domestic Product (GDP) 2007
€ 1,984
Real changes in GDP
2005
2006
2007
Average gross monthly wage
in local currency (Lek ALL)
in Euro
Annual inflation rate
24,503
198.4
2005
2006
2007
18
5.5 %
5.0 %
5.0 %
2.4 %
2.8 %
3.0 %
Some 10,000 copies of the Albanian-language
brochure were issued. The Bank of Albania
distributes them free of charge and all commercial banks have copies on display. Furthermore,
the brochure is circulated via selected distribution channels. On top of this, it is planned, for
example, to have BoA experts visit companies or
(tertiary level) educational establishments to
explain the brochure’s contents and illustrate
possibilities for their application in private
budget planning. The people reached in this
way will then replicate this new knowledge in
their respective families.
The second priority area of cooperation focused
on supporting BoA’s journalistic capacities with
a view to involving Albania’s print media in the
consumer education process in future. Albanian daily newspapers are able to reach large
swathes of the population and so inform them
about selected financial themes. At a workshop
in Berlin, various journalistic options were
discussed for presenting certain key thematic
areas, the aim being to make these economic
issues as attractive and therefore as interesting
as possible for the reader.
To round off our cooperation in 2007,
Sparkassenstiftung co-developed calculation
tools for BoA’s website, thus enabling consumers to independently compare the various
financial services the banks are offering.
The project was completed in October 2007.
Funding came from the Deutsche Gesellschaft
für Technische Zusammenarbeit (GTZ) GmbH.
Sparkassenstiftung implemented the project
together with “Geld und Haushalt” – the
Sparkassen-Finanzgruppe’s advisory service.
Annual Report 2007 | Project Activities Europe
The financial market development project in Russia was first
presented to the press and professional public at a conference marking its launch. The photo shows the representative
of the Russian Ministry of Economics, Ivan Oskolkov (centre),
who outlined Russian expectations with regard to this
project. Paul Vandoren (centre left), Deputy Head of the
European Commission Delegation to Moscow, described the
project objectives from the EU’s standpoint. The project is
intended to intensify cooperation between development
institutions at regional and federal level and between
Russian and foreign partners. Sparkassenstiftung’s team
leader in Moscow is Christopher Thomas (second from left).
Russia
Financial market development, development
institutions
The Russian Ministry for Economic Development and Trade (MEDT) is partnering this
project whose aim is to help formulate a sound
development strategy for the Russian government and to promote the economic capacity of
the Russian economy. In addition to MEDT, the
project is promoting three pilot regions in
Russia in their efforts to advance their
economies, namely Kaluga (West Russia),
Saratov (region bordering on Kazakhstan) and
Yakutia, Sakha (Northeast Siberia).
Although Russia has been able to greatly
improve its economic situation in recent years,
its successes are based mainly on the country’s
wealth of natural resources and not on general
improvements in economic performance
capacity. Developing the financial system
further and improving financial structures in
the regions along with more efficient steering of
state incentives for regional economic growth
through development loans and other economic promotion measures all represent ways
of sharpening the economy’s competitive edge.
As the leader of a consortium with the Russian
Academy of Public Administration under the
President of the Russian Federation and the
Italian project partner Fondazione CUOA,
Sparkassenstiftung has been commissioned in
the period from August 2007 to end 2008 to
produce a series of studies and recommendations, along with proposals for reforming the
framework conditions and guidelines for
establishing and operating various development institutions. Furthermore, a study trip and
four seminars are scheduled for implementation.
In 2007 the consortium experts started work on
the following specialist themes:
• SWOT analysis of central and regional
development institutions
• International experience regarding the
establishment of and operational procedures
for development institutions
• Analysis of possibilities for developing the
Russian finance market into a regional
financial centre
The project is funded by the European Union
within the scope of its TACIS programme.
The project team is led by a staff member of
Sparkassenstiftung. Four experts from three
countries (Russia, Great Britain, France) are
constantly on site in Russia. Project work
involves a large number of German experts,
inter alia from development banks and business development companies run by German
cities and districts as well as from academia.
Country data Russia
Population
140.7 million
€ 5,799
Real changes in GDP
2005
2006
2007
Average gross monthly wage (Rouble RUB)
in Euro
6.4 %
7.4 %
8.1 %
13,527
365.5
2005
2006
2007
19
10.9 %
9.0 %
11.9 %
Annual Report 2007 | Project Activities Europe/Caucasus
Resources from the “German-Armenian Renewable Energy
Fund” are being used to finance small-scale hydropower
stations. Our picture shows the local long-term expert
Artyom Zakaryan (centre) visiting such a hydropower station
in the northern reaches of Armenia (close to Vanadzor)
together with Sparkassenstiftung’s short-term expert Gert Z.
Otto (back) and a number of loan officers from local partner
banks.
Armenia
Promoting renewable energy supplies,
Funding small hydropower plants
Armenia essentially derives its energy supplies
from Russian natural gas and petroleum and
from a controversial nuclear power plant. To
reduce dependency on – increasingly expensive
– imports and to reduce the environmental cost
of power supplies in the medium term, it is
intended to make greater use of renewable
sources of energy. Armenia is relying here on
existing small-scale hydropower plants which
are to be repaired and/or made more efficient
within the scope of activities.
Local banks are to finance these measures –
however, they lack both the long-term refinancing funds and the know-how they need to assess
infrastructural projects. KfW is thus providing
appropriate refinancing options to the partner
banks via the “German-Armenian Fund –
Renewable Energy (GAF-RE)”.
Sparkassenstiftung has taken on the task of
communicating the requisite financial knowhow. Its first move was to select suitable partner
banks – these are financially stable, seeking to
expand strategically by including infrastruc-
Country data Armenia
Population
3.0 million
€ 1,016
Real changes in GDP
2005
2006
2007
in local currency (Dram AMD)
in Euro
71,344
150
2005
2006
2007
20
13.9 %
10.0 %
10.5 %
0.6 %
1.1 %
4.5 %
tural projects in their portfolio and, ideally, are
represented throughout all of Armenia. As
things now stand, some six banks are partnering the programme.
In close cooperation with a “technical consultant”, suitable projects are identified, analysed
and, once all the technical and economic
conditions have been met, are financed, too. A
German engineering company is supporting
the operators of the small-scale hydropower
plants in all technical matters.
Sparkassenstiftung is advising the financial
institutions concerned on the changes that
need to be made to procedures and organisation structures in the credit department in
order to accommodate larger-scale lending
activities. Furthermore, training measures and
courses are implemented for bank employees.
Potentially suitable projects are selected and
analysed together with the partner institutions.
The knowledge thus communicated is of
general relevance to the funding of larger-scale
projects.
Given the highly complex nature of this undertaking, the project was only able to refinance a
few projects by end 2007. However, a series of
applications is now being processed, so that the
total volume of resources available, which
amounts to some EUR 6 million, will have been
used by end 2008. In addition to project analysis, the focus is thus now turning to monitoring
the disbursed loans. To make sure that knowledge pertaining to the analysis of small-scale
hydropower plants and the GAF-RE procedures
is permanently on hand in the banks, it is
planned to put together a comprehensive
project manual for 2008.
The Credit Guarantee Fund in Georgia is essentially managed
by two local employees. Project Manager Nino Vardiashvili
(front) has worked on the project since 2004, during which
time she has executed a range of different functions. To be
able to handle these many different tasks, Ms. Vardiashvili
has received extensive training in the fields of loan extension, credit risk analysis as well as financial analysis/monitoring. Office Manager Nino Samvelidze (back) has been part
of the project team since early 2007. Her task is to support
the Project Manager in all matters concerning monitoring
and reporting to the Bonn Office.
Armenia, Azerbaijan, Georgia
Credit Guarantee Fund
In contrast to traditional credit guarantee
funds, it is not the individual loan to the entrepreneur that is guaranteed. Instead, KfW,
Germany’s development bank, guarantees
international banks that partner banks in the
Caucasus will meet their payment obligations
towards them. The KfW guarantee fund thus
enables local financial institutions to expand
their SME operations on the ground and, in
particular, to serve medium-sized companies.
Besides strengthening operational capacity in
the partner banks and generating positive
effects in real economic terms – SME loan
extension is a major factor in job creation – the
project also serves to network partner banks in
these countries, thereby indirectly helping to
improve relations between countries in a region
traditionally dogged by conflict.
By this point in time, all available funds had
been disbursed, whereby the quality of the
credit portfolios was and remains very high. By
then, the project had run its course. However,
Sparkassenstiftung continued to provide
backup assistance to the local institution in the
first few months of 2007.
In Georgia, too, all of the resources have been
disbursed – and Sparkassenstiftung’s activities
now focus on monitoring the credit portfolios
and observing the partner banks. Owing to the
success of the programme, the second phase of
the Credit Guarantee Fund is scheduled to start
in 2008 with the selection of new partner banks.
The project is essentially implemented by local
experts with the support of Sparkassenstiftung’s staff and short-term experts.
The framework conditions for programme
launch were not on hand in Azerbaijan in 2007.
Sparkassenstiftung’s project tasks include:
• Selecting and monitoring local partner banks
• Organising contacts with international
lenders
• Supporting partner banks in SME loan
extension
• Monitoring partner banks’ financial stability
and regular auditing of refinanced credit
portfolios
• Organising seminars
• Handing over monitoring (partner banks,
credit portfolio) to a suitable local institution
Sparkassenstiftung is cooperating with three
partner banks in Armenia and Georgia respectively. In keeping with plans, the task of monitoring partner banks and credit portfolios was
handed over to a local institution in Armenia,
the German-Armenian Fund, at the end of 2006.
Country data Georgia
Population
4.6 million
€ 1,197
Real changes in GDP
2005
2006
2007
in local currency (Lari GEL)
in Euro
9.3 %
8.8 %
10.0 %
224.3
85.7
2005
2006
2007
21
7.0 %
8.2 %
8.0 %
Project work by the EBRD small-scale credit programme
involves several local banks, each of which has its own
specific history and context, requiring individual training at
various management levels. Sparkassenstiftung organises
seminars and workshops on relevant themes with state-ofthe-art teaching materials. This photo depicts the Project
Manger, Andreas Francke, with a group of young Azeri
bankers at a project meeting in preparation of the regionwide rollout of lending operations through the branch
network of one of the partner banks.
Azerbaijan
Credit line for small and medium-sized
enterprises
Based on the large-scale success of the “German-Azerbaijanian Fund”, the European Bank
for Reconstruction and Development (EBRD)
began to extend loans to Azeri banks at the end
of 2005. The EBRD programme empowers the
present total of nine partner institutions to
harness new customer groups and to organise
loan extension in line with Western standards.
Sparkassenstiftung’s tasks thus involve:
• Introducing new and efficient loan extension
procedures – replacing traditional “relationship banking” with a greater emphasis on
SME solvency
• (Re)-organising loan extension and establishing special SME loan divisions
• Extensive training for loan officers and
management-level employees in partner
banks through special seminars and on-thejob training
• Nationwide rollout of lending activities
• Selecting and monitoring suitable partner
institutions
• Regular auditing of the credit portfolios put
together by partner banks
• Preparing the “graduation” of partner banks
(generating internal training capacity, extensive product management, etc.), thus enabling
partner banks to independently extend their
lending activities in the micro/small-scale
sector
By the end of 2007, a total of more than 22,000
loans with a volume of over USD 125 million
had been disbursed. Creditline expansion, a
growing rate of highly capital-intensive participation by Azeri banks and the quality of the
loan portfolios all bear witness to the acceptance of the project approach. The percentage
share of total loans classified as risky is less
than 2% of the overall volume, whereby the
average loan is less than USD 5,000. These micro
and small-scale loans generate substantial,
positive impacts in terms of job creation.
Comprehensive training activities, as well as
the introduction of efficient processes making
loan extension to the target group a profitable
line of business, have been major contributory
factors to project success. This is seen in the fact
that three partner banks “graduated” in 2007 –
these are now in a position to launch the basic
products in all their branch offices and to
conduct their own staff training measures.
Country data Azerbaijan
Population
8.1 million
€ 1,401
Real changes in GDP
2005
2006
2007
in local currency (New Manat AZN)
in Euro
162.9
126.5
2005
2006
2007
22
26.4 %
26.2 %
31.0 %
9.6 %
12.0 %
16.0 %
A key success was the extension of lending
activities to regions outside the capital city. This
development is to be consolidated further still
in 2008 through the introduction of loans for
agricultural enterprises. On top of this, it is also
planned to enhance lending efficiency by
implementing scoring procedures.
Project work on site is steered by an internationally experienced, long-term expert of
Sparkassenstiftung with the backing of a highly
qualified team of local employees.
The German flag at the entrance to Bank Respublika in Baku
(picture below) makes it quite clear: cooperation with
Germany is a big issue! For several years now the bank has
partnered various projects by the Sparkassenstiftung. In
2005 the Sparkassen International Development Trust (SIDT)
selected it as its first equity participation project. Thanks to
the consultancy measures in this Public-Private Partnership
Project, the bank was able to fundamentally improve its
operations – overall capital increased in 2007 by around
150%. The photo shows the short-term expert Michael Baur
from the Hesse-Thuringian savings banks association –
Sparkassen- und Giroverband Hessen-Thüringen –
on a consultancy mission in Baku.
Azerbaijan
Equity participation in Bank Respublika
Bank Respublika has partnered various projects
of Sparkassenstiftung for several years now.
With business operations geared to the public
at large as well as to small and medium-sized
enterprises, Bank Respublika is experiencing a
period of high earnings and expansion within
the dynamic Azeri context, putting it well on
track in terms of achieving its objective of
becoming one of the leading retail banks on the
market there. To attain this objective though,
the bank must not only have a direct market
orientation, but must also strengthen its
internal management and organisation structures.
In 2005, the Sparkassen International Development Trust (SIDT) selected Bank Respublika as
its first equity participation project. Together
with SIDT, the German Investment and Development Company (Deutsche Investitions- und
Entwicklungsgesellschaft mbH – DEG) also
invested in Bank Respublika within the scope of
a “Public-Private Partnership”.
and covering risks. Bank Respublika also
received consultancy targeting large-scale
lending through experts from Kreissparkasse
Bitterfeld. Furthermore, the manager of the
Loan Division and the responsible member of
the management board were invited by Kreissparkasse Bitterfeld to a 14-day internship in
Germany.
The Stadt- und Saalkreissparkasse Halle (now
Saalesparkasse) welcomed the Manager of Bank
Respublika’s Risk Management Division on a
4-week internship.
Project funding comes from two sources: On the
one hand, DEG uses the framework provided by
the “Public-Private Partnership” project to
finance Sparkassenstiftung’s consultancy
services from German government funds. On
the other, Bank Respublika pays for the consultancy services rendered by the Sparkassenstiftung with its own financial resources.
Against the backdrop of German participation,
Sparkassenstiftung’s consultancy inputs have
helped to stabilise and enhance the bank’s
earning capacity at a high level. Specifically, by:
• Improving organisation structures and
elaborating process descriptions
• Launching a management information
system
• Introducing a risk limitation system
• Initiating a procedure to analyse branchoffice efficiency
In 2007 activities focused on optimising work
processes, commissioning new banking software and launching a procedure for limiting
23
Annual Report 2007 | Project Activities Africa
Sparkassenstiftung has been advising the Madagascan
savings bank CEM since 2007. Our photo shows CEM
Director-General, Calixte Razafitsiatosika (right), together
with Sparkassenstiftung’s short-term expert, Maren Richter
(centre), and CEM staff during a customer visit. By working
with CEM, this young man can further expand his business,
selling mobile phones in the city of Moramanga.
Madagascar
Strengthening institutional capacity and
ongoing development of CEM
Founded in 1918, the Caisse d’Epargne de
Madagascar (CEM) is the oldest savings bank in
Madagascar. In 2001/2002, CEM was transformed into a stock company, with the state as
the sole shareholder. Since separating from the
Post Office in 2001, CEM now has 19 branch
offices nationwide. Akin to Germany’s
Sparkassen, CEM also has a social mandate.
Although CEM’s main objective is to supply all
population groups with financial services, it has
only succeeded in doing this in part to date,
since it is not permitted to offer credit. CEM has
more than 925,000 customers with a total
savings portfolio of EUR 65 million. Consequently, CEM is of great importance to Madagascar’s economy and to its people.
market image which is scheduled to be presented to the public in 2008. Furthermore,
efforts have been initiated to improve front
office processes, e.g. via the use of passbook
printers. The year under review also saw
assignments by experts of Sparkassenstiftung
in connection with the themes of “product
calculation” and “IT infrastructure”.
CEM’s product range, however, needs to be
brought into line with customer needs. To be
able to maintain its market position, withstand
competition and generate sustainable impetus
for national development, CEM therefore
started to realign and reorient its scope of
products and services in 2007. To date this has
involved, inter alia, the introduction of new
savings products and the development of a new
In addition to these measures, it is planned to
cooperate with the Hamburg Chamber of Trade
and Industry and the Madagascan Chambers on
the introduction in Madagascar of dual vocational training, leading to qualification as a
bank clerk.
Country data Madagascar
Population
19.4 million
€ 249
Real changes in GDP
2005
2006
2007
in local currency (Ariary MGA)
in Euro
69,940
26.9
2005
2006
2007
24
4.6 %
5.5 %
6.3 %
11.6 %
12.0 %
10.0 %
On top of this, the following project contents
were deemed important:
•
•
•
•
•
Launching microcredit operations
Strengthening management structures
Staff training
Human resources and remuneration systems
Expanding the branch network, inter alia
through the use of mobile branch offices
The project is funded by the German Federal
Ministry for Economic Cooperation and Development (BMZ). Hamburger Sparkasse is co-partnering project activities.
Workshops have been a regular feature of cooperation with
Teba Bank over the past five years. Our photo shows
Sparkassenstiftung’s short-term expert, Helmuth Braun
(centre), with the long-term expert on site, Bernd Werthenbach (left), along with a few Teba Bank staff members, during
a workshop on the theme of process management.
South Africa
Intensifying retail banking and strengthening
internal management
Sparkassenstiftung has been supporting Teba
Bank since 2003 within the framework of a
savings banks partnership project. Licensed
since 2000, Teba Bank provides appropriate
savings, payment and other basic financial
services chiefly to the workers employed at the
gold and platinum mines as well as to the
population living around the mining zones.
With some 148 branch offices and partner
agencies, its outreach also extends to the
mineworkers’ families back home.
The aim of Sparkassenstiftung’s project activities with Teba Bank is to enhance the bank’s
institutional capacity and to develop and
improve its products. Target customers include
small and middle-income earners along with
small companies with no or only limited access
to the formal banking sector. At the core of its
business strategy, Teba Bank has a social
mandate. It thus uses a fixed percentage share
of its profit for education and health
programmes, for example.
more, competence in the field of HR development was intensified within the scope of a study
trip by two Teba managers to institutions
belonging to the Sparkassen-Finanzgruppe.
The completion of this main project phase at
the end of the year also marked the successful
conclusion of cooperation with Teba Bank. The
bank’s capacity in terms of its HR and financial
resources now give it a sound starting point on
which to build in future.
Cooperation lasted for a period of almost 5
years in all and was funded by resources from
the German Federal Ministry for Economic
Cooperation and Development (BMZ).
Germany’s Sparkasse Siegen, which has been
supporting projects assisted by Sparkassenstiftung in South Africa since the 1980s, also
demonstrated substantial commitment to these
cooperation activities which it partnered
through specialist and HR inputs.
The priority areas of project work in 2007 were
as follows:
•
•
•
•
•
•
HR management and development
Incentive systems
Strategic planning
Cost accounting
Management information systems
Revising work processes used in lending
business
Besides ongoing advisory services for the bank
by a long-term German consultant, short-term
experts from the Sparkassen-Finanzgruppe
looked at specific themes of interest. Further-
Country data South Africa
Population
44.0 million
€ 3,838
Real changes in GDP
2005
2006
2007
in local currency (Rand ZAR)
in Euro
4.9 %
4.5 %
5.0 %
1,903
229
2005
2006
2007
25
3.9 %
5.0 %
6.0 %
More than 90% of Rwanda’s population subsists on
agriculture. The agricultural sector generates around 35% of
Gross Domestic Product but to date has only received a mere
3% of all credit. To redress this balance, the Rwandan
government has put together an extensive programme to
develop the microfinance sector. In cooperation with the
Rwandan government, Sparkassenstiftung organised a factfinding mission. The photo shows the expert, Ms. Eva
Christine Schmidt, together with representatives of the
Rwandan microfinance association AMIR (Association of
Microfinance Institutions in Rwanda).
Rwanda
Fact-finding mission to analyse the
finance sector
Following on from the tragic events of 1994,
Rwanda, one of the smallest and most densely
populated countries in the world, has spent the
past few years undergoing a phase of targeted
reconstruction and socio-economic reorganisation.
A key undertaking within this context is the
sustainable development of the financial sector
which continues to be available to only a very
small proportion of the population. More than
90% of Rwandans live in rural areas with
subsistence agriculture as their mainstay. The
agriculture sector overall accounts for around
35% of Gross Domestic Product but receives just
3% of loans.
To redress the balance and to promote small
and medium-sized companies in the production and service sector, the Rwandan government issued a microfinance policy in 2006
followed by a comprehensive strategy for policy
implementation in 2007. A new law regulating
the microfinance sector is scheduled for
enforcement in 2008.
Country data Rwanda
Population
10.2 million
€ 182
Real changes in GDP
2005
2006
2007
in local currency (Rwanda Franc RWF)
in Euro
9,758
11.8
2005
2006
2007
26
5.2 %
5.8 %
6.0 %
9.2 %
8.8 %
8.0 %
Within the scope of a fact-finding mission,
Sparkassenstiftung investigated the finance
sector, focusing in particular on access to
financial services and the performance capacity
of microfinance institutions and their supporting structures. Having mostly evolved in the
wake of aid programmes in the second half of
the nineties, providers are now facing the
challenge of professionalising and offering
financial services on an economically viable
basis to the hitherto unbanked, poorer and
generally rural population.
Of particular importance here is the transfer of
know-how. Given the many very small institutions involved, meso-level support would
appear most expedient in order to strengthen
the sector as a whole.
A corresponding sector-oriented project would
complement the priorities of ongoing GermanRwandan development cooperation which is
supporting economic development through
measures designed to promote the private
sector and vocational education.
The results of the study led to the decision by
Sparkassenstiftung to commission a more
intensive project appraisal mission at the start
of 2008.
The study was funded by the German Federal
Ministry for Economic Cooperation and Development (BMZ).
Annual Report 2007 | Project Activities Asia
Information visits are an integral component of Sparkassenstiftung’s project activities with China. They do not only
serve to communicate specialist knowledge in various
sectors but, above all, strengthen relations between the
project partners. In the Chinese context, this is a vital means
of securing long-term project success. Our photo shows the
former Mayor of the City of Nanchong, Guanghui Du (centre),
together with employees of the Nanchong City Commercial
Bank and representatives of Sparkasse KölnBonn
on a visit to Germany.
China
Equity participation in Nanchong City
Commercial Bank (NCCB)
Within the scope of a “Public-Private Partnership” programme, the German Investment and
Development Company (Deutsche Investitionsund Entwicklungsgesellschaft mbH – DEG) and
Sparkassenstiftung have engaged in a strategic
alliance, with the objective of supporting
financial-sector projects in markets experiencing difficult framework conditions. A pilot
initiative, the cooperation project with Nanchong City Commercial Bank (NCCB) involves
DEG equity participation amounting to EUR 3
million, whilst the Sparkassen International
Development Trust (SIDT) has agreed to commit
some EUR 1 million. In this context, Sparkassenstiftung has the mandate to provide backup
consultancy services. The corresponding
contracts were signed in Beijing in July 2005.
The objective of the project is to foster the
development of a retail bank in the Chinese
region of Sichuan that is capable of providing
its target groups, namely low and middleincome earners, with banking services on a
sustainable basis. By strengthening confidence
in financial institutions, the project is helping
to mobilise savings activities in rural regions.
Loan extension to small and medium-sized
enterprises on the other hand helps to secure
well-balanced economic development.
The consultancy project is funded by the
German government (Public-Private Partnerships) as well as by Sparkassenstiftung and the
NCCB itself.
In 2007, NCCB received consultancy in the
following thematic areas:
•
•
•
•
Business planning
Product development
Risk management
Organisation of lending operations
Furthermore, a top-ranking NCCB delegation
came to Germany to visit member organisations
of the Sparkassen-Finanzgruppe, inter alia, to
find out more about the experience German
Sparkassen have gathered in their branch-office
operations. Other items on their fact-finding
agenda included the work performed by the
savings banks associations and the theme of
risk management. Expert discussion partners
included HSH Nordbank, the Rheinischer
Sparkassen- und Giroverband (RSGV –
Rhineland Savings Banks Association),
Sparkasse Essen and the Rheinische Sparkassenakademie (Rhineland Savings Banks
Academy).
Country data China
Population
1,322 million
€ 1,361
Real changes in GDP
2005
2006
2007
in local currency (Chinese Yuan Renminbi CNY)
in Euro
10.2 %
10.5 %
11.4 %
1,750
165
2005
2006
2007
27
1.8 %
1.5 %
4.7 %
Until now, every City Commercial Bank (CCB) in China has
operated as an autonomous entity. Now though, with
Sparkassenstiftung’s help, the CCBs in Shandong and
Sichuan Provinces are aiming to set up networks and joint
facilities. Our photo shows the responsible Project Manager
at Sparkassenstiftung, Marco Rimkus, training CCB junior
managers.
China
Establishing joint facilities for the City
Commercial Banks
In some respects China’s City Commercial
Banks (CCBs) are similar to Germany’s
Sparkassen in that CCBs are local financial
institutions whose focus is on small and
medium-sized enterprises as well as private
customers. CCB shareholders are usually the
municipalities and districts, but CCBs can also
be owned by state or private companies as well
as by members of credit cooperatives. Nationwide, CCBs now command a 5-% share of the
market. In contrast to German Sparkassen,
however, they are mainly still very young –
many CCBs only having evolved over the last
ten years.
CCB quality, as measured in terms of management, earning status, capital resources, credit
portfolio and other criteria, does tend to differ.
Some CCBs stand out most positively from the
four large banks still struggling with their past
legacies. Other CCBs, however, are experiencing
similar difficulties to the larger banks, but lack
the sheer size that has enabled their larger-scale
cousins to assert themselves on the market. The
major disadvantage for further CCB development is now seen as the lack of any associative
structures. Indeed, to date, every CCB has
operated completely autonomously. Thus, in
2006 and with assistance of Sparkassenstiftung,
CCBs in Shandong and Sichuan Provinces
agreed to set up a network and establish joint
facilities.
The German project partners, i.e. the Rheinischer Sparkassen- und Giroverband (RSGV),
Rheinische Sparkassenakademie and the
Sparkassen-Informatik GmbH & Co. KG (SI),
were chiefly responsible for the technical
inputs.
28
In addition to information visits to Germany by
Chinese delegations, a feasibility study was
conducted concerning a joint CCB training
centre in Sichuan Province. On top of this, the
10 CCBs currently in existence in this province
inaugurated their own association last year.
In Shandong Province project work is focusing
on setting up an IT system house and a standardised software for 14 CCBs in the region.
This kind of cross-municipal and voluntary
cooperation between independent banks is
unparalleled in the entire history of Chinese
CCBs.
Project funding came from the German Federal
Sparkassenstiftung was commissioned by GTZ to strengthen
the institutional capacity of the Small Enterprise Development Fund (SEDF) in Yemen through the provision of
consultancy measures. The photo shows Ahmed Saleh A.
Hamzah, SEDF Operations Manager, during a seminar
Sparkassenstiftung organised on the theme of marketing
and product development in Sana’a. Mr. Hamzah’s remit
makes him responsible for the entire SEDF network. In
addition to concepts for extending the SEDF branch network,
other results of the seminar included a new image design
and a discussion of new product ideas.
Yemen
Financial services for small and medium-sized
enterprises
At the suggestion of Ghorfa – the Berlin-based
Arab-German Association for Trade and Industry – Sparkassenstiftung drew up an expert
report on the financial sector in Yemen at the
start of 2006.
Yemen is amongst those countries with a very
low average income. Surveys of small and
medium-sized enterprises here have brought to
light some developmental deficits. Capital is not
on hand to fund start-ups and, what is more,
technical and entrepreneurial know-how is not
well established. Social and cultural barriers
often limit women’s business aspirations,
virtually preventing them from accessing bank
loans.
The country’s financial sector is still underdeveloped and thus unable to fulfil its role as a
catalyst driving forward economic growth and
promoting employment. Banks tend to be
rather reticent to lend out money. In quantitative terms, the low development status of the
financial sector in Yemen is reflected in the fact
that a mere 2.5% of the population has access to
financial services. To start up their business,
“young entrepreneurs” are thus forced to
borrow money from their family and friends.
Against this backdrop, Sparkassenstiftung was
commissioned by the Deutsche Gesellschaft für
Technische Zusammenarbeit (GTZ) GmbH to
provide consultancy inputs to strengthen the
institutional capacity of the Small Enterprise
Development Fund (SEDF).
SEDF’s offer is presently the only source of
funding for small and medium-sized enterprises in this country. In all Sparkassenstiftung
identified six areas in which consultancy for
SEDF is considered meaningful and necessary:
• Credit cycle
• Operations by the finance division and
internal auditing unit
• Expansion of branch network
• Management training
• Product development
• Interest policy
Project work officially got off the ground in
August 2007 within the scope of a planning
workshop. Furthermore, the first expert assignments have taken place on the theme of “creating a management information system”.
The project is scheduled to run until the end of
2008.
Country data Yemen
Population
22.2 million
€ 508
Real changes in GDP
2005
2006
2007
in local currency (Rial YER)
in Euro
4.2 %
3.6 %
3.2 %
21,134
72
2005
2006
2007
29
11.4 %
14.8 %
10.7 %
The photo shows Ulrich Kienitz (left), Sparkassenstiftung’s
long-term expert in Uzbekistan, engaged in talks with the
new branch-office manager and two loan officers in the new
model branch office of Xalq Banki being piloted in Khiva.
Here, thanks to the help of the Stadt- und Saalkreissparkasse
Halle, it has been possible to completely refurbish the
branch office premises. Khiva is one of the oldest cities in
Uzbekistan and is located directly on the famous Silk Route.
Uzbekistan
Stepping up SME and personal banking
operations
Uzbek SMEs play a key role in terms of creating
jobs. They are vital suppliers of goods and
services for the domestic market and instrumental in raising the general standard of living.
Against this background, Sparkassenstiftung is
providing consultancy services to the Uzbek
Republic’s national savings bank, “Xalq Banki”.
The business philosophy of Xalq Banki, with its
2,700 branch offices and a balance sheet total of
EUR 151 million, corresponds to that of a
German Sparkasse.
Cooperation essentially aims to combat poverty,
boost Uzbekistan’s SME-oriented economy and
to create and sustainably secure jobs. To this
end, Xalq Banki is to be empowered to deliver
competitive financial services both to the
general population and to small and mediumsized companies.
Back in 2003 already a model branch office was
set up in the city of Tashkent. By the end of
2007, the number of pilot branch offices had
increased to 18, all of which offer SME credit
services. SME loans are granted in the national
currency (Sum) from a credit line provided by
Country data Uzbekistan
Population
27.8 million
€ 429
Real changes in GDP
2005
2006
2007
in local currency (Sum UZS)
in Euro
100,600
55.9
2005
2006
2007
30
7.0 %
7.2 %
8.1 %
7.8 %
7.6 %
16.0 %
the bank’s regional administrations and average around EUR 4,300. To date some 294 loans
have been granted and thus 660 new workplaces created with some 1,400 more jobs
secured in the long term. In view of the size of
the average Uzbek family, namely 8.2 people
(statistics from World Bank, March 2007), the
project has thus helped to enhance the living
conditions of around 17,000 people.
On top of this, work in 2007 focused on:
• Providing seminars on the themes of loan
extension to small and medium-sized enterprises as well as financial IT
• Separating front and back office operations
• Training multipliers, train the trainer
• Revising forms and contracts for lending
operations
• Marketing and image promotion
• Management board tasks
Project work is funded by the German Federal
A German long-term expert commissioned by
Sparkassenstiftung is on site to implement the
major share of project activities with the vital
help and support of local employees of Xalq
Banki and project staff members. As German
partners, the Stadt- und Saalkreissparkasse
Halle (now Saalesparkasse) and the Kreissparkasse Bitterfeld are major contributors of
consultancy inputs.
Working visits by staff from the TYM Fund to the partner
savings bank in Essen form part of the project, as do partner
study trips to Germany. Here we see the Mayor of the City of
Essen, Rolf Fliß (middle), and his Equal Opportunities
Commissioner, Gerda Kaßner, the President of the Vietnamese Women‘s Union, Ms. Nguyen Thi Thanh Hoa, and the
Vice Director, Ms. Nguyen Thi Hoai Thu. Background: Klaus
Remmer, Managing Director of the S-Service Center Essen
who is also responsible for cooperation by
Sparkasse Essen with Vietnam.
Vietnam
Setting up a microfinance institution
Fifteen years ago the Vietnam Women’s Union
(VWU) founded the TYM Fund to provide
microfinance services to women in need in the
north of Vietnam. This service package includes
small loans and savings products as well as
basic insurance. Initially, the TYM Fund was just
a project within the VWU, but demand grew
constantly and the TYM Fund was given its own
staff and the status of a department within the
VWU. By 2006 the TYM Fund already had more
than 20,000 customers, a figure that made it
necessary to create professional structures. To
this end, the TYM sought assistance from
Sparkassenstiftung and CARD Rural Bank
(Philippines). The aim of this support is to
transform the TYM Fund into a profitable
microfinance institution equipped with a
licence from the bank supervisory authorities
and having the capacity to give the women who
bank with it sustainable access to financial
services. In 2006 the TYM Fund altered its legal
status, thus establishing the framework for its
further development as an independent institution. The year under review was thus dominated
by the establishment of internal structures that
form the basis for the TYM Fund’s long-term,
sustainable growth.
The key component of project activities is
extensive consultancy by German and Philippine experts. Furthermore, materials and
equipment are also supplied. Project partners
include Sparkasse Essen and CARD Rural Bank.
Previously also advised by Sparkasse Essen and
Sparkassenstiftung in a project that was wound
up in 2005, CARD is now a successful microfinance institution in the Philippines.
(about EUR 150), in particular to help start up or
expand people’s economic livelihoods. At the
end of 2007, some 151 staff members working
for the TYM Fund in 23 branch offices were
serving more than 27,000 customers.
The project’s priority areas for the ongoing
phase 2007/08 include:
•
•
•
•
Staff training
Streamlining work processes
Expanding lending operations
Introducing new savings products
In 2007, new software was rolled out and
existing credit products revised as well as new
savings products designed. As in the previous
year, the Dutch financial institution SNS Reaal
took part in project implementation at its own
expense, seconding several staff members.
The project is backed financially by the German
Federal Ministry for Economic Cooperation and
Development (BMZ). Consultancy is provided
through a German long-term expert and four
local staff members, as well as through assignments by experts and management staff from
Sparkasse Essen and CARD Rural Bank.
Country data Vietnam
Bevölkerung
85.3 million
Population
€ 493
Real changes in GDP
2005
2006
2007
in local currency (Dong VND)
in Euro
8.4 %
7.8 %
8.2 %
917,902
39.21
2005
2006
2007
The central task of the TYM Fund is to grant
microloans averaging around VND 3 million
31
7.7 %
7.5 %
8.1 %
Annual Report 2007 | Project Activities Latin America
Sparkassenstiftung is implementing several projects in
Mexico. In addition to advising individual savings banks,
support is also given to associations and ministries. For this
reason, regular internal coordination amongst the individual
project officers and with the Head Office in Bonn is an
absolute must. The photo shows (from right, clockwise)
Niclaus Bergmann, Project Manager for Mexico at Sparkassenstiftung’s Bonn Head Office, Luis Proaño, Enrique
Peñaranda and Dr. Ursula Heimann, all three Project
Managers in Mexico, Dr. Peter Langkamp, Sparkassenstiftung’s Member of the Board and CEO, as well as Gerd
Weissbach, Project Manager on site in Mexico.
Mexico
Developing savings banks
Sparkassenstiftung has been promoting
savings banks development in Mexico since the
beginning of 2002. The project objective is to
strengthen central-level institutions in the
Mexican savings banks system, with a view to
stabilising and promoting the savings banks
sector overall and thus improving the supply of
financial services to rural areas. Two Mexican
partner institutions figure most strongly in this
context:
• the umbrella association of the Cajas Solidarias (Solidarity Credit Unions);
• BANSEFI, the National Savings and Financial
Services Bank.
The initial project phase focused on redefining
the tasks and responsibilities of the savings
banks associations. This phase also elaborated
financing and organisational models and
roughly sketched out where the cajas’ work
ends and that of BANSEFI starts. A key input in
this context included the elaboration of a range
of services for associations to deliver to their
affiliated savings banks.
Country data Mexico
Population
108.7 million
€ 5,964
Real changes in GDP
2005
2006
2007
in local currency (Peso MXN)
in Euro
6,430
403
2005
2006
2007
32
3.0 %
4.0 %
3.0 %
5.4 %
3.4 %
3.8 %
Since 2005, the focus of consultancy in this
project has been on further developing the
association model and on applying it in the
newly founded Cajas Solidarias association. All
instruments that are developed here are to be
made available to all other associations operating in Mexico’s savings banks sector. The Cajas
Solidarias association was successfully completed in 2007. On top of this, individual measures have targeted representatives from the field
of politics, the central bank and the bank supervisory authorities. Moreover, discussion forums
are held regularly to debate current issues in the
Mexican savings banks sector. Decision-makers
in and around the Mexican savings banks group
are brought up to date about the latest developments in this sector and informed about the
various prospects for development.
Together with other German development
actors, Sparkassenstiftung is supporting an
ethnic German Mennonite community in
Mexico. Sparkassenstiftung’s task here is to
advise the community on the creation of a
savings bank.
Financial literacy constitutes a new focus in this
project. A study was conducted to identify the
existing offer of measures in this field. As of
2007, training measures have been developed
together with Mexican savings banks, with a
view to enabling savings banks’ clients to
manage their financial resources efficiently.
The project is financially promoted by the
German Federal Ministry for Economic Cooperation and Development (BMZ). A long-term
expert of Sparkassenstiftung is on site in Mexico
City, supported by three local employees.
Project work is backed by the Sparkassenverband Baden-Württemberg and the Landesbank
Baden-Württemberg.
Annual Report 2007 | Project Activities Latin America
Sparkassenstiftung has been supporting the restructuring
process at the Caja Solidaria “Epitacio Huerta” in the
Mexican federal state of Michoacán for five years now. In
2007 this savings bank was one of the first in Mexico to be
given formal authorisation by the bank supervisory
authority. Our photo depicts the two Directors of the Caja
Solidaria “Epitacio Huerta” with Sparkassenstiftung’s
German Project Manager, Gerd Weissbach.
Mexico
Restructuring savings banks
Mandated by the World Bank and the Mexican
Ministry of Finance, Sparkassenstiftung has
been engaged since 2003 in two projects
designed to advise local savings banks on
operations restructuring. By end 2007, some
173 savings banks had taken part in project
activities.
With more than 300 predominantly small
savings banks all established over the past 20
years with government support, the Cajas
Solidarias make up the largest group of savings
banks in Mexico. The Cajas are all grouped
together in a national coordination council
(CCNCS).
A total of 153 savings banks that are either
subject to the savings banks law or comply with
it voluntarily, depending on their size or product range, are joint members of the national
umbrella association for Cajas Solidarias (FNCS)
as well as other savings banks associations. It is
these 153 Cajas Solidarias that form the core of
Sparkassenstiftung’s consultancy.
Having worked with the savings banks associations to elaborate customised restructuring
plans for the individual banks involved,
Sparkassenstiftung provided ongoing assistance for their implementation, the objective
being to empower the savings banks to obtain a
licence from the bank supervisory authority by
the end of 2010. In addition to support for
savings banks, all of which participate in the
programme on a voluntary basis, consultancy
also targets the individual associations
involved.
banks law but come under a paragraph of this
law which permits very small savings banks
and those that do not take any deposits to
continue operating without state supervision.
They can however voluntarily submit to the
provisions in the savings banks law and apply
for a licence. Sparkassenstiftung supports all
Cajas Solidarias that automatically or voluntarily comply with this law.
All of the 153 savings banks pro-actively
supported within the scope of the project have
attained the so-called Prorroga Condicionada.
The interim deadline for compliance with the
legal statutes ended on 31 December 2005, but
was extended for those savings banks that had
managed to comply with specific bank supervisory criteria by this point in time – which all
project savings banks did.
An agreement providing for consultancy for
another 20 savings banks has been signed with
the association Fortaleza Social. In terms of
content, the tasks in the projects under review
match those stipulated in the contract for the
Cajas Solidarias.
Sparkassenstiftung operates some eight project
offices employing a total of more than 40 staff
members in all. These offices are located in
Mexico City (Head Office), Guadalajara,
Durango, Queretaro (two offices), Tepíc, Oaxaca
and Campeche.
As things now stand, a large number of the
Cajas Solidarias are not covered by the savings
33
Annual Report 2007 | Transnational Projects
Working together, the Academy of Banking and Finance and
its sponsor, the Serbian Central Bank, organised the “ABF
Cup” in December 2007. A major feature of the Academy’s
programme in the year under review, the ABF Cup involved a
competition between four teams from three Serbian banks
and a bank from Bosnia-Herzegovina. The business game
seminar proved an excellent platform for this competition
which was concomitantly linked up with intensive training.
The photo shows Sparkassenstiftung’s Deputy Director,
Ferdinand Feldgen, who directed the game, together with
participants from the Serbian subsidiary of the Austrian
bank, Erste Bank der Oesterreichischen Sparkassen.
Bank management training
Austria, Belgium, China, Croatia, Madagascar,
Panama, Serbia
Successful training work with the PC-based
business management game was continued
and expanded in 2007.
As in previous years, several training seminars
were organised in Beijing for managers of
Chinese banks which were paid for by the banks
themselves. Other training courses were held in
Croatia for the Croatian subsidiary of the
Austrian-owned Erste Bank as well as in Austria
for the Erste Bank itself. In Panama, training
was organised in cooperation with Latin
America’s association of cooperative savings
banks. This event was attended by representatives of savings banks, credit cooperatives and
associations from some seven countries. One
training event for bank managers from Eastern
and Central Europe and Africa was also
arranged jointly with the World Savings Banks
Institute in Brussels.
The Academy for Banking and Finance, which
belongs to the National Bank of Serbia, put on a
training course together with Sparkassenstiftung under the guise of a “Banking Cup”.
This event had a competitive edge to it, culmi-
Country data Serbia
Population
10.2 million
€ 3,565
Real changes in GDP
2005
2006
2007
in local currency (Dinar RSD)
in Euro
27,407
350
2005
2006
2007
34
6.5 %
5.8 %
7.3 %
17.7 %
6.6 %
6.8 %
nating in the best team being awarded a cup by
the President of the Serbian National Bank.
Repeat performances of this cup-winning event
have already been planned for the years ahead.
In Madagascar and China, bank management
training was implemented within the scope of
ongoing project work.
At the seminars, participants learn how to
design and implement banking strategies
under competitive conditions. To this end, a
PC-based market model is used to simulate the
following management tasks:
•
•
•
•
Pricing policy
Steering bank’s own investments
Risk steering
Human-resource policy and investments in
materials and equipment
• Liquidity steering
• Capital resources
• Advertising and marketing strategies
The training materials are available in the
following language options: English, French,
German, Russian and Spanish, and to a certain
extent in Chinese and Serbo-Croat, too. The
software is regularly upgraded and has now
been used in more than 50 seminars in over
fifteen countries.
Business management games are conducted by
Sparkassenstiftung’s employees as well as by
external trainers. Sparkassenstiftung is also an
experienced trainer of multipliers.
Annual Report 2007 | Transnational Projects
Having successfully wound up their consultancy inputs
in Sri Lanka at the end of 2007, experts from the German
Sparkassen-Finanzgruppe will continue to focus their efforts
on the BPD in Banda Aceh (Indonesia) through to the end of
2009. Our picture shows Sparkassenstiftung’s two long-term
experts, Sonia Reinhardt and Michael Kühl, with BPD Aceh
Directors, Aminullah Usman (centre) and
Ismet Yoesoef (right).
Indonesia, Sri Lanka
Sparkassenstiftung’s cooperation activities in
Sri Lanka und Indonesia within the scope of the
Sparkassen Reconstruction Fund revolve
around four partner institutions that channel
Sparkassen-donated resources in the form of
loans to micro and small-scale entrepreneurs
affected by the tsunami of 26 December 2004.
In its capacity as one of the largest commercial
banks in the country, Hatton National Bank in
Sri Lanka had already launched a credit programme for small and medium-sized enterprises in 1998. The existing structures thus
facilitated the swift transfer of more than EUR 6
million to over 3,000 customers. The Sri Lankan
Ruhuna Development Bank and the Indonesian
bank BPD Aceh are development banks. The
first is government-owned and the second
belongs to the Indonesian province of Aceh. The
Sparkassen Reconstruction Fund also has the
largest microfinance institution in Sri Lanka on
board, namely the non-governmental organisation SEEDS. Overall, the partner institutions
facilitated loans amounting to more than EUR
8.6 million which were disbursed to almost
6,000 people in need, enabling them to invest in
their companies’ reconstruction and thus
generate almost 9,000 jobs in the process.
In keeping with the cooperation agreements
made in 2005, experts from Germany’s
Sparkassen-Finanzgruppe wound up their
consultancy mission in Sri Lanka at the end of
2007.
Within the scope of a visit to the SparkassenFinanzgruppe, DSGV (German Savings Banks
Association), Sparkassenstiftung and BPD Aceh
agreed to extend consultancy through to the
end of 2009, whereby inputs will go beyond the
extension of reconstruction loans and deal with
the bank’s institutional development. It is not
just the devastating damage caused by the
tsunami, but the fledgling peace process and
the integration of conflicting parties that are
giving rise to new and greater demands on the
bank and its contribution to regional economic
advancement.
The overall project with its refinancing and
consultancy component is funded by the
which constitutes a joint effort by all German
Sparkassen, Landesbanken (regional banks)
and partners of the Sparkassen-Finanzgruppe.
Country data Indonesia
In addition to the provision of refinancing
funds, the partner institutions were supported
by six German and two local consultants. In line
with the specific consultancy requirements,
extensive training measures were supported for
customer advisors in the field of loan extension,
but also in connection with strategic themes
such as internal organisation structures,
reporting or cooperation with marketing
partners.
Population
234.7 million
€ 1,099
Real changes in GDP
2005
2006
2007
in local currency (Rupiah IDR)
in Euro
6.0 %
5.4 %
6.1 %
1,222,110
90
2005
2006
2007
35
17.1 %
13.2 %
6.3 %
Supervisory and Executive Boards,
Head Office and
Representations abroad
37
Annual Report 2007 | Board of Trustees
Board of Trustees
Heinrich Haasis
Chairman of the Board of Trustees
President, Deutscher Sparkassen- und
Giroverband
Dr. Karlheinz Bentele
Deputy Chairman of the Board of Trustees
President, Rheinischer Sparkassen- und
Giroverband
Dr. Stephan Articus
Managing Director and Executive Member,
Deutscher Städtetag
Peter Bock
Chairman of the Board, Wartburg-Sparkasse
Gregor Böhmer
Executive President, Sparkassen- und
Giroverband Hessen-Thüringen
Michael Bräuer
Chairman of the Board, Sparkasse OberlausitzNiederschlesien
Werner Fuchs
Retired Member of the Board, LRP
Landesbank Rheinland-Pfalz
Klaus-Dieter Gröb
Member of the Board, Landesbank
Hessen-Thüringen Girozentrale
Walter Groll
Member of the Board, DekaBank
Deutsche Girozentrale
Volker Groß
Retired Chairman of the Board,
Sparkasse Neunkirchen
Günter Haas
Retired Chairman of the Board,
Sparkasse Rhein-Nahe
Prof. Dr. Hans-Günter Henneke
Executive Member, Deutscher Landkreistag
Dr. Josef Bernhard Hentschel
Chairman of the Board, Sparkasse Osnabrück
Chris De Noose
Chairman of the Joint Office, World Savings
Banks Institute and European Savings Banks
Group, Brussels
Joachim Hoof
Chairman of the Board,
Ostsächsische Sparkasse Dresden
Günter Distelrath
Managing Director,
Sparkassenverband Niedersachsen
Dr. Peter A. Kaemmerer
Member of the Board,
Landesbank Baden-Württemberg
Dr. Gunter Dunkel
Member of the Board NORD/LB
Norddeutsche Landesbank Girozentrale
Jörg-Dietrich Kamischke
President, Sparkassen- und Giroverband
für Schleswig-Holstein
Dr. Norbert Emmerich
Deputy Chairman of the Board, WestLB AG
Matthias Klein (until November 2007)
Member of the Board, Sparkasse Gelsenkirchen
Rudolf Faltermeier
Vice President, Sparkassenverband Bayern
Dr. Bernd Kobarg
Chief Managing Director,
Deutscher Sparkassen Verlag GmbH
38
Annual Report 2007 | Board of Trustees
Dr. Wilhelm Kraetschmer
Deputy Secretary General,
Österreichischer Sparkassenverband
Werner Thum
Stadt- und Kreissparkasse Rothenburg
Uwe Kruschinski
Member of the Board,
Landesbank Berlin Holding
Rainer Voigt (until November 2007)
Retired Executive President,
Ostdeutscher Sparkassenverband
Fritz Lütke-Uhlenbrock
Member of the Board, Bremer Landesbank
Kreditanstalt Oldenburg – Girozentrale –
Alexander Wüerst
Chairman of the Board, Kreissparkasse Köln
Jürgen Oltmann
Chairman of the Board, Sparkasse Bremen,
and President, Verband der Deutschen Freien
Öffentlichen Sparkassen e.V.
Manfred Oster
Chairman of the Board, Sparkasse Ulm
Dr. Henning Osthues-Albrecht
Retired Chairman of the Board, Sparkasse Essen
Dr. Karl-Peter Schackmann-Fallis
Executive Member of the Board,
Deutscher Sparkassen- und Giroverband
Werner Schmidt
Chairman of the Board, Bayerische Landesbank
Peter Schneider
President, Sparkassenverband
Baden-Württemberg
Dr. Friedhelm Steinberg
Deputy Chairman of the Board,
Hamburger Sparkasse
Hartmut Strauß
Member of the Board, HSH Nordbank AG
Jürgen Teufel (until October 2007)
Sparkasse Pforzheim Calw
39
Annual Report 2007 | Management and Staff
Management and Staff
Board of Directors
Dr. Holger Berndt, Chairman of the Board
Dr. Peter Langkamp, Member of the Board and CEO
Dr. Hans Ulrich Schneider, Member of the Board
Head Office
Dr. Peter Langkamp
Niclaus Bergmann, Deputy Director
Ferdinand Feldgen, Deputy Director
Christina Blum
Matthias Fohs
Stephanie Hagemann
Stefan Henkelmann
Christina Heuft
Brigitte Kurscheidt
Elisabeth Lamm
Lucia Meiwes-Spruck
Cornelia Müller
Marco Rimkus
Dagmar Romero
Dr. Ilonka Rühle
Regina Schumann
Anne-Charlotte von Langen Keffenbrinck (until January 2007)
Gerd Weißbach (since July 2005 assigned to representation office in Mexico City)
Tian Xia
40
Annual Report 2007 | Representations abroad
Representations abroad
Armenia
Dr. Jürgen Engel (until March 2007)
Gert Z. Otto (as of April 2007)
Artyom Zakaryan (as of April 2007)
4 Sakarov Str.
37010 Yerevan
Azerbaijan
Andreas Francke
Eduard Schmitt (until March 2007)
Nizami st. 10, 3rd floor
1001 Baku
China
Hartmut Oertel (as of March 2007)
Jinan City Commercial Bank Building
176 Shunhe Street
Jinan, 250001
Georgia
Martina Chudziak (until March 2007)
15, Chavchavadze Ave.
0179 Tbilisi
Nino Vardiashvili
1, Aragvi Str.
0179 Tbilisi
Indonesia
Michael Kühl
Sonia Reinhardt
P.T. Bank BPD Aceh Syariah
Cab. Banda Aceh, Lt. III
Jl. Hasan Dek No. 42-43, Beurawe, Kuta Alam
Banda Aceh 23124
Madagascar
Susanne Hierholzer (as of March 2007)
Caisse d’Epargne de Madagascar
21, Rue Karija Tsaralalana
101 Antananarivo
Mexico
Dr. Ursula Heimann
Gerd Weißbach
Miguel Laurent No. 64,
Colonia Tlacoquemecatl del Valle,
Delegación Benito Juárez
03200 Mexiko, D.F.
Russia
Chris Thomas (as of September 2007)
Russian Academy of Public Administration
(RAPA)
Vernadsky Prospekt, 84
119606 Moskau
Sri Lanka
Bernd Arnim Benning (until December 2007)
Petra Rehberger (until March 2007)
Uwe Sommerschuh (until June 2007)
73/10, Saman Uyana Kumaragewatta Road
Battaramulla
Republic of South Africa
Bernd Werthenbach (until December 2007)
Teba Bank Ltd.
Sunhill Park
No. 1 Eglin Road
2157 Sunninghill
Uzbekistan
Ulrich Kienitz
Xalq Banki
46, Qatortol Str.
700096 Taschkent
Vietnam
Jörg Teumer
TYM Fund
20 Thuy Khue st., Room 305
Hanoi
41
Annual Report 2007 | Members
Members
Sparkassen / Savings Banks
SparkassenVerband Baden-Württemberg
Sparkasse Zollernalb, Balingen
Kreissparkasse Biberach
Kreissparkasse Böblingen
Sparkasse Bühl
Sparkasse Engen-Gottmadingen
Sparkasse Ettlingen
Kreissparkasse Freudenstadt
Sparkasse Gengenbach
Kreissparkasse Göppingen
Sparkasse Haslach-Zell
Sparkasse Hohenlohekreis, Künzelsau
Kreissparkasse Ludwigsburg
Sparkasse Neckartal-Odenwald, Mosbach
Sparkasse Pforzheim Calw
Sparkasse Allgäu, Kempten
Sparkasse Kulmbach-Kronach
Sparkasse Landsberg-Dießen
Kreissparkasse Miesbach-Tegernsee
Sparkasse Miltenberg-Obernburg
Kreissparkasse München Starnberg
Stadtsparkasse München
Stadtsparkasse Neuburg-Rain
Sparkasse Nürnberg
Sparkasse Mittelfranken-Süd, Roth
Stadt- und Kreissparkasse Rothenburg
Stadtsparkasse Schrobenhausen
Sparkasse Schweinfurt
Sparkasse Straubing-Bogen
Kreis- und Stadtsparkasse Wasserburg
Sparkasse Mainfranken, Würzburg
Kreissparkasse Ravensburg
Hanseatischer Sparkassen- und Giroverband
Bezirkssparkasse St. Blasien
Die Sparkasse Bremen AG
Sparkasse Singen-Radolfzell
Hamburger Sparkasse
Sparkasse Hochschwarzwald, Titisee-Neustadt
Sparkassen- und Giroverband Hessen-Thüringen
Kreissparkasse Tuttlingen
Sparkasse Bad Hersfeld-Rotenburg
Sparkasse Ulm
Sparkasse Bensheim
Sparkasse Schwarzwald-Baar, VillingenSchwenningen
Sparkasse Darmstadt
Kreissparkasse Waiblingen
Sparkasse Hochrhein, Waldshut-Tiengen
Bezirkssparkasse Dillenburg
Wartburg-Sparkasse, Eisenach
Sparkasse Odenwaldkreis, Erbach
Sparkassenverband Bayern
Sparkasse Mittelthüringen, Erfurt
Sparkasse Aschaffenburg-Alzenau
Frankfurter Sparkasse
Sparkasse Bad Kissingen
Sparkasse Oberhessen, Friedberg
Sparkasse Bad Tölz-Wolfratshausen
Kreissparkasse Gelnhausen
Sparkasse Bayreuth
Sparkasse Gera-Greiz
Sparkasse Coburg-Lichtenfels
Kreissparkasse Gotha
Sparkasse Dachau
Stadtsparkasse Grebenstein
Sparkasse Fürstenfeldbruck
Kreissparkasse Groß-Gerau
Sparkasse Fürth
Sparkasse Hanau
Kreissparkasse Garmisch-Partenkirchen
Sparkasse Starkenburg, Heppenheim
Vereinigte Sparkassen Gunzenhausen
Kreissparkasse Hildburghausen
Kreissparkasse Höchstadt
Sparkasse Arnstadt-Ilmenau
Sparkasse Ingolstadt
Kasseler Sparkasse
Kreis- und Stadtsparkasse Kaufbeuren
Sparkasse Waldeck-Frankenberg, Korbach
42
Kreissparkasse Limburg
Sparkasse Spree-Neiße, Cottbus
Sparkasse Marburg-Biedenkopf
Stadtsparkasse Dessau
Kreissparkasse Nordhausen
Kreissparkasse Döbeln
Städtische Sparkasse Offenbach
Ostsächsische Sparkasse, Dresden
Kreissparkasse Saale-Orla, Schleiz
Sparkasse Barnim, Eberswalde
Sparkasse Langen-Seligenstadt
Sparkasse Elbe-Elster, Finsterwalde
Kyffhäusersparkasse, Artern-Sondershausen
Sparkasse Oder-Spree, Frankfurt/Oder
Nassauische Sparkasse, Wiesbaden
Kreissparkasse Eichsfeld, Worbis
Sparkasse Vorpommern, Greifswald
Sparkasse Muldental, Grimma
Sparkassenverband Niedersachsen
Stadt- und Saalkreissparkasse Halle (Saale)
Sparkasse Aurich-Norden
Stadt- und Kreissparkasse Leipzig
Stadtsparkasse Bad Pyrmont
Sparkasse Celle
Sparkasse Mansfelder Land, Lutherstadt
Eisleben
Stadtsparkasse Cuxhaven
Sparkasse Wittenberg, Lutherstadt Wittenberg
Sparkasse Duderstadt
Stadtsparkasse Magdeburg
Sparkasse Gifhorn-Wolfsburg
Sparkasse Mittleres Erzgebirge, Marienberg
Sparkasse Göttingen
Kreissparkasse Meißen
Sparkasse Goslar/Harz
Stadtsparkasse Hameln
Sparkasse Hannover
Sparkasse Münden, Hannoversch-Münden
Sparkasse Hildesheim
Sparkasse LeerWittmund
Sparkasse Nienburg
Landessparkasse zu Oldenburg
Sparkasse Osnabrück
Kreissparkasse Merseburg-Querfurt
Kreissparkasse Mittweida
Sparkasse Neubrandenburg-Demmin
Sparkasse Ostprignitz-Ruppin, Neuruppin
Bördesparkasse, Oschersleben
Sparkasse Uecker-Randow, Pasewalk
Mittelbrandenburgische Sparkasse in Potsdam
Sparkasse Uckermark, Prenzlau
Kreissparkasse Peine
Sparkasse Prignitz, Pritzwalk
Sparkasse Schaumburg, Rinteln
Sparkasse Altmark West, Salzwedel
Kreissparkasse Soltau
Kreissparkasse Sangerhausen
Kreissparkasse Stade
Stadtsparkasse Schwedt
Sparkasse Stade – Altes Land
Sparkasse Mecklenburg-Schwerin, Schwerin
Kreissparkasse Walsrode
Kreissparkasse Aschersleben-Staßfurt
Stadtsparkasse Wunstorf
Kreissparkasse Stendal
Ostdeutscher Sparkassenverband
Kreissparkasse Märkisch-Oderland, Strausberg
Sparkasse Erzgebirge, Annaberg-Buchholz
Müritz-Sparkasse, Waren
Kreissparkasse Aue-Schwarzenberg
Kreissparkasse Wernigerode
Sparkasse Elbe-Saale, Bernburg
Sparkasse Burgenlandkreis, Zeitz
Kreissparkasse Bitterfeld
Kreissparkasse Anhalt-Zerbst, Zerbst
Sparkasse Jerichower Land, Burg
Sparkasse Oberlausitz-Niederschlesien, Zittau
Sparkasse Chemnitz
Sparkasse Zwickau
43
Sparkasse Aachen
Sparkasse Vorderpfalz Ludwigshafen a. Rh.
– Schifferstadt
Stadtsparkasse Bad Honnef
Kreissparkasse Mayen
Sparkasse Dinslaken-Voerde-Hünxe
Sparkasse Neuwied
Sparkasse Düren
Kreissparkasse Rhein-Hunsrück, Simmern
Kreissparkasse Düsseldorf
Kreis- und Stadtsparkasse Speyer
Stadtsparkasse Düsseldorf
Sparkasse Trier
Rheinischer Sparkassen- und Giroverband
Stadtsparkasse Duisburg
Sparkassenverband Saar
Kreissparkasse Heinsberg, Erkelenz
Kreissparkasse Saarpfalz, Homburg/Saar
Sparkasse Essen
Sparkasse Merzig-Wadern
Kreissparkasse Euskirchen
Sparkasse Neunkirchen
Stadtsparkasse Haan
Sparkasse Saarbrücken
Sparkasse Kleve
Kreissparkasse Saarlouis
Kreissparkasse Köln
Kreissparkasse St. Wendel
Sparkasse KölnBonn
Sparkasse Krefeld
Sparkassen- und Giroverband
für Schleswig-Holstein
Sparkasse Leverkusen
Sparkasse Holstein, Eutin
Stadtsparkasse Mönchengladbach
Sparkasse Westholstein, Itzehoe
Sparkasse Mülheim a. d. Ruhr
Förde Sparkasse, Kiel
Sparkasse Neuss
Sparkasse zu Lübeck AG
Stadtsparkasse Oberhausen
Sparkasse Südholstein, Neumünster
Sparkasse Radevormwald-Hückeswagen
Sparkasse Mittelholstein AG, Rendsburg
Stadtsparkasse Remscheid
Stadtsparkasse Wedel
Sparkasse Hilden Ratingen Velbert
Verbands-Sparkasse Wesel
Westfälisch-Lippischer Sparkassenund Giroverband
Sparkasse der Homburgischen Gemeinden,
Wiehl
Sparkasse Westmünsterland, Ahaus
Stadtsparkasse Wuppertal
Sparkasse Attendorn-Lennestadt-Kirchhundem
Sparkasse Wittgenstein, Bad Berleburg
Sparkassen- und Giroverband Rheinland-Pfalz
Stadtsparkasse Bad Oeynhausen
Kreissparkasse Altenkirchen
Sparkasse Bergkamen-Bönen
Kreissparkasse Westerwald, Bad Marienberg
Sparkasse Bielefeld
Kreissparkasse Ahrweiler,
Bad Neuenahr-Ahrweiler
Stadtsparkasse Blomberg/Lippe
Kreissparkasse Bitburg-Prüm
Sparkasse Bottrop
Stadtsparkasse Kaiserslautern
Sparkasse Hochsauerland, Brilon
Sparkasse Germersheim-Kandel
Sparkasse Burbach-Neunkirchen
Sparkasse Koblenz
Sparkasse Detmold
Kreissparkasse Kusel
Stadtsparkasse Dortmund
Sparkasse Südliche Weinstraße Landau
Sparkasse Ennepetal-Breckerfeld
Kreissparkasse Rhein-Pfalz, Ludwigshafen
Sparkasse Finnentrop
44
Sparkasse Bochum
Stadtsparkasse Freudenberg
Sparkasse Gelsenkirchen
Sparkassen- und Giroverband Rheinland-Pfalz,
Mainz
Sparkasse Geseke
Sparkassenverband Saar, Saarbrücken
Stadtsparkasse Gevelsberg
Sparkassen- und Giroverband für SchleswigHolstein, Kiel
Stadtsparkasse Gladbeck
Stadtsparkasse Gronau
Kreissparkasse Halle (Westfalen)
Sparkasse Herford
Stadtsparkasse Hilchenbach
Sparkasse Iserlohn
Sparkasse Lemgo
Sparkasse Lüdenscheid
Sparkasse Kierspe-Meinerzhagen
Sparkasse Menden
Zweckverband Sparkasse Meschede
Westfälisch-Lippischer Sparkassen- und
Giroverband, Münster
Verband der Deutschen Freien Öffentlichen
Sparkassen e.V., Bremen
Landesbanken / Girozentralen
DekaBank Deutsche Girozentrale,
Frankfurt a. M. und Berlin
Landesbank Baden-Württemberg, Stuttgart,
Karlsruhe und Mannheim
Sparkasse Minden-Lübbecke
Bayerische Landesbank, München
Sparkasse Münsterland Ost, Münster
Landesbank Berlin AG, Berlin
Sparkasse Olpe-Drolshagen-Wenden
Bremer Landesbank Kreditanstalt Oldenburg
– Girozentrale –, Bremen
Sparkasse Paderborn
Vereinigte Sparkassen im Märkischen Kreis,
Plettenberg
Stadtsparkasse Porta Westfalica
Stadtsparkasse Rahden
HSH Nordbank AG, Hamburg und Kiel
Landesbank Hessen-Thüringen Girozentrale,
Frankfurt a. M. und Erfurt
Sparkasse Vest Recklinghausen
Nord/LB Norddeutsche Landesbank Girozentrale, Hannover, Braunschweig und Magdeburg
Stadtsparkasse Rheine
LRP Landesbank Rheinland-Pfalz, Mainz
Sparkasse Rietberg
Landesbank Saar, Saarbrücken
Sparkasse Siegen
WestLB AG, Düsseldorf und Münster
Sparkasse Soest
Associations
Other national and international associations,
entities and other members
Deutscher Sparkassen- und Giroverband e.V.,
Berlin und Bonn
Europäische Sparkassenvereinigung, Brüssel
SparkassenVerband Baden-Württemberg,
Stuttgart
Sparkassenverband Bayern, München
Hanseatischer Sparkassen- und Giroverband,
Hamburg
Österreichischer Sparkassenverband, Wien
Bundesgeschäftsstelle Landesbausparkassen,
Berlin
LBS Landesbausparkasse Baden-Württemberg,
Stuttgart und Karlsruhe
Sparkassen- und Giroverband Hessen-Thüringen, Frankfurt a. M. und Erfurt
LBS Ostdeutsche Landesbausparkasse AG,
Potsdam
Sparkassenverband Niedersachsen, Hannover
Deutscher Sparkassen Verlag GmbH, Stuttgart
Ostdeutscher Sparkassenverband, Berlin
Deutscher Städtetag, Köln und Berlin
Rheinischer Sparkassen- und Giroverband,
Düsseldorf
Deutscher Landkreistag, Berlin
Helmut Wolynski, Burgdorf
45
s Finanzgruppe 2007
446 Savings Banks (Sparkassen)
Balance sheet total
Savings deposits
Loans to customers
Employees
1,045 billion €
282 billion €
618 billion €
253,696
11 Landesbanken/Girozentralen1 (Regional Banks/Central Savings Banks)
Balance sheet total2
1,898 billion €
Deposits by customers and financial institutions3 925 billion €
395 billion €
Debts evidenced by certificates4
1,097 billion €
Loans to customers and financial institutions3
Employees
57,796
10 Landesbausparkassen (Central Building Societies)
Balance sheet total
New contracts
Capital outpayments
11.2 million contracts with aggregate contractual
savings volume
Employees
51 billion €
34 billion €
9 billion €
Picture credits:
S. 3
© S-Finanzgruppe
S. 6
© S-Finanzgruppe
S. 7
© Schafgans, DGPh
S. 8
© VWU, Vietnam
S. 12 © Sparkassenstiftung
S. 18 © Christina Heuft, Sparkassenstiftung
S. 19 © Andrey Korshunov
S. 20 © Sparkassenstiftung Armenia
251 billion €
8,698
S. 21 © Sparkassenstiftung Georgia
S. 22 © Sparkassenstiftung Azerbaijan
S. 23 © Sparkassenstiftung, Bank Respublika
S. 25 © Sparkassenstiftung South Africa
DekaBank4
Fund’s assets
Balance sheet total
Employees
192 billion €
106 billion €
3,553
S. 26 © Eva Schmidt
S. 27 © Sparkasse KölnBonn
S. 28 © Tian Xia, Sparkassenstiftung
S. 30 © Sparkassenstiftung Uzbekistan
S. 31 © City of Essen
12 Regional Insurance Companies
Gross premium income
Employees
16 billion €
31,000
S. 34 © Rolf Grempel
S. 35 © Bank BPD Aceh, Indonesia
1
2
3
4
Not including DekaBank
Including foreign branches as well as domestic and foreign consolidated Landesbank subsidiaries
(excluding building Landesbausparkassen)
Not including foreign branches nor domestic and foreign consolidated Landesbanken subsidiaries
(excluding Landesbausparkassen)
Figures for the given group
Annual Report 2007
Finanzgruppe
Annual Report 2007
2007
International Cooperation
Projects and Partners

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