Isidro Fainé Reelected President of the World Institute of Savings Banks and Retail Banks (WSBI)

The President of CECA and the “la Caixa” Banking Foundation has renewed his three-year mandate as President of the World Institute of Savings Banks and Retail Banks (WSBI) during the Assembly held in Paris. The German Peter Simon will be the Chief Executive Officer.

Founded in 1924, WSBI currently represents the interests of 6,500 savings banks and retail banks worldwide. In figures, WSBI members hold a total of $15 trillion in assets, employ 2.2 million workers, and serve 1.4 billion customers in 63 countries, with a network of over 221,500 offices providing banking services to various groups, institutions, large companies, SMEs, and families.

WSBI member entities annually allocate $1.8 billion to combat poverty and social inequality.

Financial inclusion, promoting sustainable finance, innovation, and leveraging digitalization to enhance customer proximity and strengthen solvency within the Basel IV framework are priorities for the coming years.

In addition to Isidro Fainé and Peter Simon, the WSBI Advisory Committee includes Dominique Goursolle-Nouhaud, President of the Fédération Nationale des Caisses d’Epargne (France); Rebeca Romero Rainey, President & CEO of Independent Community Bankers of America (United States); Macario Armando Rosales Rosa, President of Fedecrédito (El Salvador); Helmut Schleweis, President of the German Savings Banks Association (Germany); Isara Wongrung, Executive Vice President of Government Savings Bank (Thailand); and Redouane Najmeddine, General Director of Banque Al Barid (Morocco).

Paris, November 18, 2021 – Isidro Fainé, President of CECA and the “la Caixa” Banking Foundation, has been reelected as President of the World Institute of Savings Banks and Retail Banks (WSBI) during the 28th Assembly held in Paris.

The members of this institution’s Assembly, which represents the interests of 6,500 savings banks and retail banks across more than 60 countries, unanimously reelected Isidro Fainé to lead the institution for the next three years. German Peter Simon will be the Chief Executive Officer during this period.

Among the priority lines of work outlined for the future are financial inclusion, the promotion of sustainable finance (as WSBI member entities are characterized by their social commitment to the communities in which they operate), the exchange of best practices in implementing the new Basel IV solvency framework, and innovation, seeking digitalization as a tool to enhance customer proximity.

In his speech, Isidro Fainé highlighted that “in the coming years, we will have to address significant challenges: economic recovery, increasing inequality, demographic challenges that will pressure natural resources, climate change, and sustainability. Members have in their DNA the vocation to help the most vulnerable and strengthen the community. The social contributions of members amount to a total of $1.8 billion annually to combat poverty and social exclusion.”

During Isidro Fainé’s first term as president (2018 – 2021), the organization has focused on the following aspects:

1) Promotion of financial inclusion: WSBI has exceeded the targets set by the Universal Financial Access Commitment (UFA 2020) developed by the World Bank, increasing the number of banked individuals by 329 million from 2014 to 2020. Additionally, collaboration with the Mastercard Foundation has consolidated, leading to initiatives like Scale2Save to promote saving in Africa. A collaboration with the digital literacy project Profuturo has also begun to boost financial education in developing countries.

2) Increased dialogue with international organizations: In the context of the pandemic crisis, WSBI has focused on promoting economic, fiscal, and social measures with regulators that favor a flexible framework facilitating recovery from the crisis and addressing new demands arising within it.

3) Promotion of collaboration among members: The World Institute of Savings Banks and Retail Banks is made up of four regional groups (Europe, Asia-Pacific, Africa, and North America/Latin America/Caribbean). In the context of the coronavirus crisis, they have increased the exchange of best practices to address the financial needs of all types of groups, institutions, large companies, SMEs, and families.

Strengthening Spanish representation in international forums

Additionally, the Assembly renewed the mandates of other statutory bodies, including the Coordination Committee. Antonio Romero, Corporate Director of Associative Services and Resources of CECA, has been appointed president of this group, which acts as a coordinating element between the associative activity of the World Institute and the European Association of Savings Banks and Retail Banks. Likewise, Joan Rosás, Director of International Institutional Relations of CaixaBank, has been appointed representative of the WSBI Board for International Relations. This representation strengthens the participation of the Spanish banking industry in European and international working groups.