I have recently participated in a debate with consumer representatives and I was struck that they referred very negatively, indeed, to “the banking sector” or “banks”, putting all of them in the same basket, or bin, rather… We must indeed acknowledge that to the public in general, and unfortunately to some policymakers as well, today banks – all banks, no matter what kind – are bad. Confidence in and credibility of the sector are close to zero…
So what do we do? Well, let’s show that savings banks are a different category of bank, that their model is geared toward stakeholders and not only to shareholders, that profit maximisation is not their ultimate objective, that they seek to bring a return to society and not only to financial markets, that as local, retail institutions they have limited exposure to capital markets, that clients are at the centre of the banking relationship, etc. And let’s demonstrate that this has made a huge difference in recent months, and that savings banks should not be hit by the post-crisis regulatory tsunami, which is intended for the institutions that were indeed the source of the problems.
In this hectic environment, and with this exciting challenge ahead of us, I believe that the WSBI World Congress, based on the theme “GOOD for you – the savings and retail banking model” and taking place on 10-11 May 2012, in Marrakech, Morocco, will be the right place for constructive discussions. With professionals from the financial, economic, social and political scenes as well as civil society representatives from all over the world, we will share experiences, highlight the benefits of the savings and retail banking model, and assess its role in achieving responsible, competitive and stable markets.
Smart solutions will be crucial to the future success of the savings and retail banking model. So I invite you to immediately read the information concerning our Marrakech Congress and register to join the discussions. I look forward to meeting you there in May!
Chris de Noose
ESBG-WSBI Managing Director
