100 years, 3.5 billion in social aid… The oldest banking association in the world, in figures

The World Institute of Savings Banks and Retail Banks brings together more than 6,400 entities from 78 countries. It has created the Social and Philanthropic Council, an organization to channel investments in social programs.

The World Institute of Savings Banks and Retail Banks (WSBI) has just celebrated its 27th World Congress in Rome commemorating its 100 years of existence. It is the oldest banking association in the world, bringing together more than 6,400 entities from 78 countries. Founded on October 31, 1924, in Milan to promote saving as a means to ensure financial security and independence, a century later, it is focused on building a more inclusive and sustainable society through innovation, philanthropy, and open dialogue.

To achieve this, the member entities, such as the German Sparkassenstiftung, the State Bank of India, the Social Group Foundation of Colombia, and the CECA sector in Spain, allocate 3.5 billion dollars each year to social projects worldwide. The programs in which they invest align with the United Nations Sustainable Development Goals (SDGs), ranging from community rebuilding after natural disasters to financing medical equipment in underdeveloped countries, promoting initiatives for financial inclusion, or empowering women-led SMEs, among many others.

Precisely to continue extending the Social Work globally, the international entity has created the Social and Philanthropic Council, a new body that centralizes all activities, also in charge of giving visibility to all projects and promoting the exchange of ideas and knowledge among members.

During the first meeting of the Council, held last April in Thailand, the member entities signed the Bangkok Declaration, a manifesto in which they commit to materializing actions in six areas: youth population, poverty reduction, support for education, women’s empowerment, elderly persons, and sustainability of the planet.

Isidro Fainé, president of WSBI, states that “the creation of the Social and Philanthropic Council underscores our ongoing commitment to achieving positive change in the world around us. The investments we make each year are not just numbers; they represent tangible actions that strengthen communities, empower individuals, and drive significant progress worldwide.”

WSBI has 1.7 billion customers, 11.4 trillion dollars in deposits, 3.5 billion dollars in philanthropic investments, 220,000 branches, and 2.1 million employees. “Feeling and acting with social responsibility is inextricably linked to our identity. We were born this way; it is part of our DNA and our vocation. All this translates into our way of banking, which is fundamentally different from that of other actors in the sector, and moreover, it is profitable, efficient, and fair,” comments Isidro Fainé.

851 million to Social Work in Spain

In Spain, the promotion of Social Work comes hand in hand with CECA (an association representing CaixaBank, Kutxabank, Cajasur Banco, ABANCA, Unicaja, Ibercaja Banco, Caixa Ontinyent, Colonya Pollença, and Cecabank, along with more than thirty foundations). Education and research, culture, local development, job creation, sports, recreation, environment… The associated foundations and savings banks allocated a total of 851 million euros during 2023, representing an increase of 6.4% compared to the previous year. Thanks to this allocation, more than 80,960 activities have been carried out, benefiting over 30 million people, with a special focus on vulnerable groups.

In this regard, the approval of the Law 26/2013 on Savings Banks and Banking Foundations represented a turning point, according to Alberto Aza, spokesperson for CECA: “We experienced a radical transformation, resulting in larger and more solvent groups, while preserving Social Work, a hallmark of the sector, which is carried out by the foundations.” Since then, the Social Work of the CECA sector has invested over 7.8 billion euros and carried out more than 930,000 activities. By the end of 2023, there is a recorded increase of 19.9% in investment compared to the year 2014.

Isidro Fainé, who is also the president of WSBI and CECA, as well as the Foundation “la Caixa”, assures that “our purpose remains unwavering: to contribute to social advancement by financing projects that create opportunities for progress for individuals, striving to do everything possible in favor of financial inclusion, as a precursor to social inclusion, and with special sensitivity towards the most vulnerable groups.”