Press releases

September 10, 2020

Uniting Europe digitally: 50 years of arts support from 'jugend creativ' celebrated during gala event / patron Iris Berben: "The youth competition is a shining example of corporate citizenship"

The local cooperative banks' international youth competition, 'jugend creativ', has been motivating children and young people across Europe to explore social issues through creativity for half a century. Since the first competition was held in 1970, a total of 90 million international entries have been submitted - equivalent to 700 soccer pitches covered in art. The youth competition is thus the biggest of its kind worldwide and has become a cornerstone of support for young people and the arts. The cooperative banks' long-term initiative was acknowledged during an international gala event, which was streamed live from the TIPI AM KANZLERAMT theater in Berlin on September 9, 2020. A total of more than 700 guests joined the online event from countries around the world - including the seven participating European countries Austria, Finland, France, Germany, Italy (South Tyrol), Luxembourg, and Switzerland to celebrate 50 years of 'jugend creativ'. The international winners in the 50th youth competition, whose theme was 'Happiness is…', were also announced.
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August 27, 2020

50 years of ‘jugend creativ’ – 50 years of commitment to creative brilliance: International gala event and awards ceremony live streamed from Berlin

The international youth competition ‘jugend creativ’, an initiative of cooperative banks from seven European countries, is celebrating its 50th anniversary. With more than 90 million participants to date, it is not only the world’s biggest creativity competition for young people but also the longest-running private-sector commitment to promoting creativity among children, teenagers, and young adults.
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July 15, 2020

2019 consolidated results of the Cooperative Financial Network: solid basis for dealing with the challenges of the coronavirus crisis

In 2019, the Volksbanken Raiffeisenbanken Cooperative Financial Network increased its consolidated profit after taxes to €7.0 billion. This strong growth compared with the prior-year figure, which had amounted to €5.4 billion, was primarily attributable to favorable capital markets effects and to the insurance business, whereas traditional banking business made a slightly smaller contribution to profit than in 2018. Given the ongoing policy of low interest rates and the still substantial adverse impact of regulatory requirements, this represents a good result. The Cooperative Financial Network’s loans and advances to retail and corporate customers went up by 6.2 percent to €844.6 billion. There was further growth in deposits from customers, which swelled by 4.5 percent to €880.4 billion. The Cooperative Financial Network significantly increased its balance sheet equity by 7.7 percent to €116 billion. This level of capital ensures that it has the necessary resilience to deal with the challenges presented by the consequences of the coronavirus pandemic, which are still hard to predict.
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