100 Years Leading Social and Responsible Banking

Through a banking model focused on serving people, the World Savings and Retail Banking Institute (WSBI) has been demonstrating an unwavering commitment to economic and social development in pursuit of a fairer, more inclusive, and equitable society for a century. On the occasion of its centenary celebration, and under the motto ‘Together 100 Years Forward. Shaping the Future of Responsible Banking’, the association gathered representatives from financial entities worldwide on October 30 and 31 in Rome to address future challenges.

Building responsible banking is more than a financial commitment; it is a mission that seeks to transform lives and foster a more inclusive society where every person has access to fair and dignified economic opportunities. This premise gave rise in 1924 to the world’s largest banking association, WSBI.

Driven by the framework of the First International Savings Congress held on October 31 of that year, the pioneering initiative in the sector laid the foundations for social and responsible banking, a differential model, centered on people, that prioritizes the balance between profitability and social impact. With the initial goal of promoting savings as an essential aspect for ensuring the financial security and independence of individuals, more than 350 representatives from financial institutions in 27 countries gathered in Milan to share visions and outline what is now a crucial global network for economic development, sustainable finance, philanthropy, and financial inclusion.

The work of WSBI entities goes beyond being financial institutions; they are distinguished by a deep commitment to social responsibility, a quality that is part of their identity and sets them apart from other institutions in the financial sector. Currently, WSBI represents more than 6,400 savings banks and retail banks from 78 countries worldwide, which hold a total balance of $13.25 trillion, employ 2.1 million people, and serve 1.7 billion customers. In Spain, CECA—an association representing CaixaBank, Kutxabank, Cajasur Banco, ABANCA, Unicaja, Ibercaja Banco, Caixa Ontinyent, Colonya Pollença, and Cecabank, as well as over thirty foundations—joined the initiative from its inception in 1928. Since then, it has maintained a close relationship with WSBI and a prominent representation in its governing bodies and working groups.

The work of WSBI and its entities, under the leadership of its president, Isidro Fainé, who also holds the position of president of CECA and the ‘la Caixa’ Foundation, is structured around three values known as the ‘3Rs’. First, its retail focus, linked to its commitment to the real economy and financing for families and SMEs; second, its rooted quality, in line with its strong ties to the territories and communities in which they operate, materialized in the development of initiatives to invigorate local economies and promote financial inclusion; and finally, responsible, stemming from its historical commitment to Social Work and sustainability with a focus on vulnerable groups.

In recent years, WSBI has expanded its influence worldwide, acting as an agent of change in favor of progress and a sustainable and inclusive future, with special dedication to poverty reduction and educational advancement. CECA perfectly embodies this model of social and responsible banking and increasingly assumes an important international role alongside WSBI. Thus, the Social Work, the soul of the CECA sector, is a worldwide reference in terms of social investment, philanthropy, and solidarity. In the same vein, and with the goal of extending its social commitment internationally, last April, WSBI established the Social and Philanthropic Council under the presidency of Isidro Fainé. This body will channel the investment of WSBI members towards initiatives that strengthen communities and address the most pressing social needs. Not surprisingly, WSBI entities allocate $3.5 billion annually to social initiatives worldwide.