Press releases

September 18, 2018

Cooperative Financial Network contributes €145 million to charitable causes, setting a new record for its CSR activities

The Volksbanken Raiffeisenbanken Cooperative Financial Network did more in the area of corporate social responsibility (CSR) than ever before last year. The local cooperative banks and their specialized institutions provided financial assistance totaling €145 million to people in Germany in 2017, thereby setting a new record. Donations from the Volksbanken Raiffeisenbanken and other cooperative banks reached €106 million and local communities benefited from sponsorship worth €30 million; income from charitable foundations added a further €9 million. Children and young people are the main beneficiaries of the Cooperative Financial Network’s CSR activities. At €301 million, the amount made available to charitable foundations exceeded the €300 million mark for the first time to reach a whole new level. To put that into context, the equivalent amount for 2010 was only around €140 million.
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July 18, 2018

Cooperative Financial Network’s profit before taxes rises to €8.9 billion / equity breaks through the €100 billion threshold

In 2017, the Volksbanken Raiffeisenbanken Cooperative Financial Network generated a sound consolidated profit before taxes of €8.9 billion, an increase of 7.3 percent. It also significantly boosted its equity to €104.4 billion, the first time that this figure has exceeded the €100 billion mark at consolidated level. The Cooperative Financial Network is thus well equipped to cope with possible threats to global economic growth.
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May 25, 2018

EU Banking Package: EU Council adopts general approach

One of the aims of the general approach adopted by the EU Council today to what is referred to as the “Banking Package” (CRR II / CRD V) is to tighten the own funds requirements. Secondly, banking regulation is to be focused more strongly on the size and the complexity of credit institutions. Another module includes the amendments to the EU’s Bank Resolution and Recovery Directive (BRRD II) and to the Single Resolution Mechanism Regulation (SRMR II), which have also been adopted. What is at issue, in particular, is the implementation of the international recommendations on total loss-absorbing capacity (TLAC) and their harmonisation with minimum requirements for own funds and eligible liabilities (MREL).
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