The members of the assembly of the World Savings Banks and Retail Banks Institute (WSBI) have reelected Isidro Fainé as president of the organization for three more years, maintaining a position that he has already held since 2018. It is not a minor position, since the WSBI represents the interests of more than 6,400 savings banks and retail banks around the world, which together have a total balance sheet of $13.25 trillion, employ 2.1 million employees and serve 1.7 billion customers through its more than 220,000 offices in 78 countries.
Founded on October 31, 1924 in Milan, making it the oldest banking association in the world, the fundamental objectives of the WSBI – according to its website – are to facilitate cooperation between its members and research, together with its social initiatives that it channels through financial inclusion projects.
Precisely, the members of the assembly have unanimously renewed the man who presides over the first foundation in continental Europe and the third in the world by volume of assets. Fainé is a history of retail banking in Spain, who starred in the growth of Caixa and its expansion outside of Catalonia and the process of disassociation of the la Caixa Foundation from the banking entity (CaixaBank).
The Catalan banker left the presidency of the banking part of the business in 2016, although, as has already been said, he maintains the leadership of the foundation, which is the main shareholder of CaixaBank.
Under Fainé’s presidency, the funds that WSBI entities allocate to social initiatives around the world have doubledgoing from 1.8 billion dollars annually in 2021 to the current 3.5 billion dollars that are currently allocated each year, and the figure will increase.
Before the assembly and authorities such as the president of the Italian Republic, Sergio Mattarella; the Minister of Economy and Finance, Giancarlo Giorgietti; and the governor of the Bank of Italy, Fabio Panetta, the re-elected president has started his mandate with the promise of increase funds allocated to social initiatives up to $5 billion in the next two years.
The event was held today in Rome, precisely, the day that the organization turns one hundred years old, something that Fainé has taken advantage of to vindicate the social character that has historically distinguished savings banks. «The members of the WSBI have more than justified reasons to proclaim that we are more than mere financial institutions since, with philanthropic actions, we drive social change and facilitate human progress. Because we know human nature, and we are defenders of its freedom. We are also lovers of justice and equity. And we do everything in our power to help the most vulnerable groups,” he stated.
Regarding the other positions of the entity, German Peter Simon remains CEO and there will be seven vice presidencies. They will be occupied by the president of Deutscher Sparkassen und Giroverband (Germany), Ulrich Reuter; the general secretary of Groupe BPCE (France), Jacques Beyssade; the CEO of State Bank of India, Shri Vinay M Tonse, and the Chairman of Al Barid Bank (Morocco), Al-Amine Nejjar. Also vice presidents are the president of the Federation of Credit Unions and Workers’ Banks (El Salvador), Macario Armando Rosales; the president and CEO of Independent Community Bankers of America (United States), Rebeca Romero, and the president of Banco Caja Social (Colombia), Diego Prieto.
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