We have the pleasure to present the 2013 Annual Report of the European Association of Co-operative Banks. The Report highlights the activities and achievements of the EACB, which voices the concerns of 3.700 banks in Europe operating under the co-operative statute.
2013 has been a very intense year for our Association, due to the increasing number of regulatory proposals implemented as a response to the crisis at EU level, with a specific focus on the developments that will be triggered by the new Banking Union package.
The Report highlights those developments and offers an overview of the selected achievements of our Association. We would also like to seize the opportunity to remind you that:
- Co-operative banks operate on the basis of a business model that is different from the mainstream banking model; this model is based on member-ownership.
- Co-operative banks are characterised by a strong focus on customers and members;
- They have a unique capital and governance structure and a long-term orientation;
- Their long-term approach and solidity have been revealed to be an important asset to the financial system;
- They have proven their resilience during the crisis and their commitment to finance the real economy;
- They face however important challenges in the light of current regulatory and supervisory reforms of the banking sector.
On the whole, we hope that messages addressed in this report will contribute to a better understanding of the co-operative banks specificities by the regulators and policy-makers. We also hope that the report will illustrate that, recognising the nature, governance and organisation of Co-operative Banks is key to ensure a level playing field, in line with the diversity of the EU banking sector.
For the 2013 Annual Report of the EACB, please CLICK HERE.