Daegu Bank is the largest subsidiary and accounts for 99% of the Group’s assets. Daegu Bank’s core mission is to “realize co-prosperity with small businesses and provide total financial care to local residents.” In addition to providing loans to regional enterprises and households, the company also offers a range of financial services that incentivize environmental performance. Since 2006, Daegu Bank has included an Environmental Management Checklist in its credit evaluation process to encourage strong environmental management practices among its customers. The bank uses the checklist to determine if a customer qualifies for prime interest rates and fee discounts, which are offered to businesses with ISO 14001-certified environmental management systems, manufacturers of LED lighting, or other types of eco-friendly companies. Daegu Bank also offers “green deposits,” which offer prime interest rates to customers participating in programs to reduce at-home energy use or carbon emissions from transportation.
DGB Financial Group has also implemented a strong environmental management policy across all of its subsidiaries. It has committed to efficient use of resources and energy and to minimize emissions of greenhouse gases and pollutants. Portfolio 21 will continue to monitor the growth and promotion of Daegu Bank’s “green” financial products.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 6/30/13 and may not reflect current opinions or subsequent events.