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July 12, 2022

With substantial profit growth in 2021 and improved capital adequacy, the Cooperative Financial Network is braced for challenging times

Frankfurt, July 12, 2022 ─ In 2021, the Volksbanken Raiffeisenbanken Cooperative Financial Network reported consolidated profit before taxes of €10.5 billion in an environment shaped by the coronavirus pandemic and expansionary monetary policy. This rise of nearly 46 percent compared with the prior-year figure of €7.2 billion is attributable to growth in the operating business and a marked reduction in the need to recognize loss allowances. The Cooperative Financial Network’s equity swelled by 6.4 percent to €129.5 billion. The increased volume of customer business meant that consolidated total assets grew by a further 6.1 percent to €1,566 billion.

July 05, 2022

German Banking Industry Committee calls for more space for innovation in payments services

The European Commission has begun its review of the Revised Payment Services Directive (PSD2). The German Banking Industry Committee advocates gearing it to the actual needs of customers and giving banks more scope for innovation. In its current form, the directive is hindering progress in these areas and setting the wrong incentives for the market.

June 01, 2022

BVR criticizes the draft report on implementation of Basel III: too little consideration of the characteristics of the European banking market

The draft report published today by rapporteur Jonás Fernández, member of the European Parliament, concerning the European Commission’s legislative proposal on the implementation of Basel III in the European Union (‘banking package’) does not sufficiently consider the needs of the German cooperative banks. "This is unfortunately a missed opportunity to take better account of the specific characteristics of the European banking market," says Daniel Quinten, member of the Board of Managing Directors of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks]. "Particularly for smaller institutions that are part of a wider network – such as the German cooperative banks – and already weighed down by excessive regulation, the rules set out by the European Commission are extremely problematic and the rapporteur has not modified them."


BVR - May 6, 2014, 12:00:00 PM

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