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Ambitious Challenges Ahead for Savings and Retail Banking

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Ambitious Challenges Ahead for Savings and Retail Banking 03 October 2005 Access to Finance Study – Measuring the Contribution of Savings Banks AMBITIOUS CHALLENGES AHEAD FOR SAVINGS AND RETAIL BANKING ISSUES Ambitious challenges ahead for savings and retail banking 2 Access to Finance Study – Measuring the Contribution of Savings Banks 3 ESBG calls for equal call-back right for EP and Council in the Lamfalussy process 4 Launch of EU/US Retail Banking Forum 5 BASEL II – Capital Requirements Directive (CRD) adopted by the European Parliament 6 EU continues the fight against money laundering and the funding of terrorism 7 EU policy proposals on asset management 8 WSBI/ESBG launch portal to guide users to cross-border VIEWS retail banking services 8 A Cards Framework for the Single Euro Payments Area 9 Savings banks and microfinance institutions (MFIs) 10 EVENTS AND TRAINING 11th WSBI Africa Regional Group meeting 12 Seminar on Retail Banking Strategies 13 11th Asia-Pacific Annual Regional Group meeting 14 Workshop on New Marketing Tools 15 Workshop on the Mobilisation of Savings for Amonatbonk 16 & & CONSULTANCY NEWS EU-China Financial Services Cooperation Project 17 AFFILIATED ORGANISATIONS EUFISERV signs agreement with China UnionPay 18 IN BRIEF Appointment of Managing Director of Postbank, Kenya 18 WSBI/ESBG has published 3 new “Perspectives” 19 Recent position papers and press releases 19 NEWS ISSUES Ambitious challenges ahead for savings and retail banking I would like to recall the features amongst financial players. Their fruitful WSBI 2005 General long-term commitment towards meeting Assembly, which took place in the critical needs of local communities September in Lima, Peru at the and society have increasingly materialised kind invitation of FEPCMAC, by the integration of social, environmen- the Federación Peruana de tal as well as economic concerns in their Cajas Municipales de Ahorro business operations and stakeholder y Crédito, to outline the three relations. We need to highlight and main challenges that I envisage for 2006: promote those key achievements, and raise our profile in local, national, to pursue our active contribution to European and international Corporate facilitate the access of the widest number Social Responsibility-related debates, so of citizens to financial services, based on as to be identified by stakeholders as one the conclusions of our two studies1. We of the references for socially responsible will be able to provide facts and figures banking activities and practices. demonstrating further the key role played by savings banks in providing I am convinced that based on our three-fold accessible finance, both in developed and programme of actions -access to finance, plu- less developed countries. We will also ralism of banking markets and social respon- need to move forward and turn our sibility- we will be able to deliver our vision findings and evidences into concrete of ”Savings Banks: the retail gateway to a actions and operational solutions to global market. Driving sustainable develop- effectively improve the current situation ment”, which will be the central theme of and increase the number of citizens with our 21st World Congress scheduled from 20 access to financial services. till 22 September 2006 in Kuala Lumpur. Our priority will be to disseminate the view that to raise our voice louder in the promo- proximity banking, as developed by savings tion of pluralistic financial markets, all banks throughout the world, has got a key around the world. To access the wider role to play in our increasingly internation- range of population both in advanced alised world and is the appropriate channel economies and in less developed coun- to bring the benefits of globalisation to tries, we need financial institutions that retail customers. are suited to meet the needs and require- ments of the various categories of clients. Our key to success A pluralistic financial market is therefore needed, where different types of credit Our overall goals for 2006 are ambitious. institutions can operate next to each And we need to be ambitious. We will de- other and offer a broad choice of prod- multiply our chances to reach these objec- ucts and services, for the best quality and tives by joining forces and closely cooperate, price. We need to make sure that there is more than ever. To make the difference, I a general recognition that savings banks, invite the more than 6 000 individual sav- as socially responsible and locally an- ings and retail banks from all over the world chored retail banks, play a specific role in forming WSBI to join forces and cooperate. financial markets and are a crucial We can improve the role and impact of component of the banking offer made to savings and retail banks by more and bet- customers. ter cooperation between Members, based on a well understood solidarity between to further increase the visibility of our developed and less developed Members and general social responsibility involvement, countries. as an integral part of savings banks’ identity and one of their distinctive Dr. Holger Berndt, WSBI President 1 See article “Access to Finance Study – Measuring the Contribution of Savings Banks”, page 3. 2 ISSUES Access to Finance Study – Measuring the Contribution of Savings Banks With the objec- In those developing countries which show tive of contrib- better results in providing access, -i.e. uting to the where we see on average that more than global debate 50% of the adult population holds at on how to least one accessible account- this is improve access achieved by the fact that savings banks, to finance for or similar socially committed retail banks, all, especial- are present in that market. This shows ly during this United Nation’s 2005 Year that an economy is very unlikely to of Microcredit, the WSBI commissioned enable all citizens/costumers to have research work on savings banks’ role in access to finance unless it has a strong providing accessible finance. Following up savings bank movement. on the 2004 study1, the new report looks It is misleading to think of all savings at data from WSBI members in order to banks as savings-only institutions. Across improve understanding of the quantita- the developing world non-postal savings tive and qualitative dimensions that impact banks recycle half their deposits as access and to illustrate savings banks’ posi- credits. tion in that context. As regards costs, savings banks appear to The study provides a hard-fact analysis of have much higher staff productivity than the efficieny of proximity banking for an microfinance institutions. Savings banks inclusive financial market. handle roughly 900 accounts per employ- ee, microfinance institutions perhaps only These tangible facts of the essential contri- 150. bution of the savings banks for the develop- Last but not least, a common feature of ment of sustainable and accessible financial savings banks across the world is the products evidence the need to foster prox- maintenance of large branch networks, imity banking. often in areas that commercial banks no longer serve. The main conclusions of the study are the There are some indications that savings following: bank staff is just as productive outside The study first asks what is the extend of major urban centres as inside, suggesting the market coverage. It found that there that savings banking is more scaleable are more than 1.4 billion accessible than commercial banking in rural areas. accounts2 and that savings banks – including postal savings banks- manage Finally, these results provide both encourag- over three quarters (at least 1.1 billion) of ing and challenging news for the savings those accessible accounts. banks movement: Access across the devel- This coverage is much more extensive oping world is twice what it was thought to than anyone had previously realized and be, with savings banks accounting for three savings banks are very important players quarters of all this. But despite this, access is in the market: still seen as a big problem. This could mean •· In advanced industrial countries, approx- that a large number of new and active cli- imately 90% of adults will at least have ents remain to be captured efficiently by a bank account and in a number of savings banks. them, savings banks will account for half or more of this coverage (i.e. the The savings banks movement is already case of Germany, Spain and Sweden). halfway the road to go and holds a great • For developing countries the compara- potential to expand access! ble figure is around 30~40% of adults who have some sort of bank or microfi- nance relationship – this figure doubles Contact: [email protected] the estimates made by CGAP3 one year and [email protected] ago. 1 Access to Finance - A study for the WSBI - Stephen Peachey and Alan Roe, Oxford Policy Management - October 2004. For more information see: www.savings-banks-events.org/microcredit2005/index. 2 Accessible account: Such account that has a low average balance, presents low-cost fees and can be easily accessed in terms of location and administrative requirements. Normally targeted at low-middle income popula- tion. 3 The Consultative Group to Assist the Poor: donor agency coordinated by the World Bank. 3 ISSUES ESBG calls for equal call-back right for EP and Council in the Lamfalussy process The ESBG strongly believes in exchange for delegating their legisla- that inter-institutional delib- tive powers to the Commission. The terms erations on the balance of of this agreement, which expires in 2007, power between EU institu- have been transposed into the draft EU tions on the Lamfalussy Constitution further strengthening the role procedure need to be of the European Parliament notably by pro- advanced. Specifically, the viding a “call-back right” to both Parliament last minute interim solution and Council, which enables them to revoke reached, which made it possible for the the delegation of powers if they are not European Parliament to adopt the Capital satisfied with the results of comitology.
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