Québec, 7thOctober 2014 –Co-operative banks leaders from Europe, South America, Canada, Japan and other countries have met today for a Lunch Debate organized by the European Association of Co-operative Banks in the framework of the 2014 International Summit of Co-operatives. Citing the “Roadmap for Co-operative Banks”, they underlined that a diversified banking sector is a key element of financial stability and serves the needs of the market.
Monique F. Leroux, Chair of the Board, President and Chief Executive Officer of Desjardins Group declared, 'This is an exciting time for the co-operative movement in Canada and around the world. Our strength is not merely the way in which we do business; it’s the people with whom we conduct this business that define us. Our clients, members, employees and administrators come from all walks of life. Their diversity shapes who we are as a cooperative and drives us to succeed.'
Christian Talgorn, President of the EACB, pointed out ‘It is important to recognize the universalism of the co-operative model which fuels the local economy notwithstanding the current and global context of subdued growth.’ He added that ‘Co-operative banks are key players in the retail banking industry with 3,700 banks, 56 million members and 215 million clients. The co-operative banking model has performed reasonably well since the crisis and is seemingly a key element of the systemic stability.’
Hervé Guider, EACB General Manager concluded that ‘The primary purpose of the legislation is to ‘fit the purpose’. A healthy financial system relies on institutions of different sizes and different ownership structures performing a variety of functions and serving different needs within the market.’
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