The EACB is pleased to announce the launch of “The performance of European cooperative banks in 2023 - a snapshot”. The analytical assessment evaluates 18 leading European cooperative banking groups, relative to all their banking competitors. The research paper, prepared by academics at Tilburg University, has tracked performance for the last 20 years.
"The sector’s continued growth and community impact are furthermore an important reminder of the value of a diverse market. These milestones are vivid proof of the long-term sustainable business model and unmatched community first- approach inherent in cooperative banking. Cooperative banks are about more than profits - they are about serving people as long-term partners and building a better future for the society as a whole." N. SCHINDLER, Chief Executive Officer of the EACB.
Five preeminent facts this year:
- Pinacle Membership: Cooperative banks reached a record membership of over 90 million, gaining 1.4 million new members in 2023 alone.
- Employment Growth: Full-time employment at cooperative banks rose by 1.5 % in 2023 – the strongest increase since 2011.
- Record Market Share: Cooperative banks achieved record market shares in key retail banking markets for the third year in a row, driven by robust loan and deposit growth.
- Financial Strengh: Cooperative banks saw strong financial gains, with return on equity rising to 10.1%, the cost-income ratio dropping to 52.9%, and the Tier 1 capital ratio reaching a record 18.1%.
- Commitment to Local Presence: Cooperative banks maintain a strong presence in rural areas, with branch closures significantly lower than those of other banks.