Helsinki, 13 December 2024 – The European Association of Co-operative Banks (EACB) convened high-level representatives from its member organisations in Helsinki for its 54th General Assembly, hosted by OP Financial Group, one of Finland’s leading financial institutions.
As part of the two-days programme, participants were joined on Thursday at the Museum of Contemporary Art Kiasma, by Dr. Tero Kurenmaa, Director General of the Finnish Financial Supervisory Authority, who provided an insightful overview of major supervisory trends, particularly focusing on the increasing risk financial crime poses and regulators’ gradual convergence toward simplification.
The Assembly set the course for the association’s policy positions and laid the groundwork for cooperation in the next quarter, electing member representatives to chair the EACB working groups and exchanging on critical topics for cooperative banks today, including AI, Savings and Investments Union, fraud and security, and agriculture financing.
Pauli Kariniemi, Director General of the Financial Markets Department at the Finnish Ministry of Finance, offered a policymaking take on the regulatory future and an outlook for European capital markets and the financial sector, offering valuable perspectives for cooperative banks navigating the evolving economic landscape.
In an uncertain context, EACB President, Priscille Szeradzki, emphasised the enduring relevance of the sector: “Cooperative banking offers society an optimistic vision: concrete tools to face difficulties, with human interests at its core. Rooted in diversified business models, customer ownership, and proximity to rural communities, cooperative banks are stability actors, committed to long-term action and capable of delivering on their promises to customers, members and European society. This General Assembly was yet another testament to the combined strength and pioneering spirit of the sector, positioning it as a key leader in driving the environmental and digital transitions”.
The attending members also paid farewell to Joan Cavallé, stepping down as CEO of Caja Ingenieros, for his contribution to the cooperative banking sector. Nina Schindler, CEO of the EACB, noted the banks’ remarkable success,“expanding and growing steadily with new branches and consistent loan development, while staying rooted in Barcelona. This rare harmony between tradition and innovation achieved by Caja Ingenieros under your leadership is a beacon for what cooperative banks are and proves that cooperative values remain as vital today as ever.”