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July 13, 2021

2020 a successful year for the Cooperative Financial Network despite coronavirus: customer business accelerates and capital at a good level

In 2020, a year dominated by the coronavirus pandemic, the Volksbanken Raiffeisenbanken Cooperative Financial Network generated a solid €7.2 billion in consolidated income before taxes. The equivalent figure for the prior year of €10.2 billion had been heavily boosted by valuation effects. In its operating business, the Cooperative Financial Network not only saw a rise in net fee and commission income and net interest income in 2020, but also a slight cost reduction. As a result of the coronavirus pandemic the loss allowances for loans and advances were raised by €1.5 billion as a pre-emptive measure. Equity rose by 5 percent to €121.8 billion. Consolidated total assets grew by 6.6 percent to €1,476 billion.

July 05, 2021

German Banking Industry Committee presents policy paper on “digital euro” - ECB needs to think beyond digital cash

In a policy paper, the German Banking Industry Committee (GBIC) for the first time sets out detailed thoughts on the design of a "digital euro". In this paper, experts from Germany’s five national banking associations draw up an ecosystem of innovative forms of money that extends far beyond the idea of digitalised central bank money, which is referred to as Central Bank Digital Currency (CBDC). The ECB will probably launch the project for a digital euro in mid-July 2021.

July 01, 2021

German Banking Industry Committee: Revising the Consumer Credit Directive with a sense of proportion

The German Banking Industry Committee (GBIC) welcomes the European Commission’s initiative to evaluate the Consumer Credit Directive (2008/48/EC) for the first time since its entry into force in 2010 with a view to meeting the needs of the current Internal Market, not least in the light of advancing digitalisation. The GBIC also pursues the objective of giving European consumers a high degree of consumer protection and a wide range of products that serve their needs.


BVR - May 6, 2014, 12:00:00 PM

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