Through a banking model at the service of the people, the World Savings and Retail Banking Institute (WSBI) has displayed for the past century an unwavering commitment to economic and social development in pursuit of a more just, inclusive and equal society. On the occasion of the celebration of its centenary, and under the theme '100 years forward together. Shaping the future of responsible banking', the association brought together representatives of financial institutions from all over the world on 30 and 31 October in Rome to address the challenges of the future.
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 was the guiding principle for the birth of the world's largest banking association, the WSBI, in 1924.
Conceived within the framework of the 1st International Savings Congress, held on 31 October of that year, this initiative, ground-breaking for the sector, laid the foundations for social and responsible banking, a differential model, focused on people, which prioritises a balance between profitability and social impact. With the initial goal of promoting savings as an essential aspect of ensuring people's financial security and independence, more than 350 representatives from financial institutions from 27 countries gathered in Milan to share visions and shape 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 stand out for their deep commitment to social responsibility, a quality that is part of their identity and that distinguishes them from other institutions within the financial sector. The WSBI currently represents more than 6,400 savings and retail banks in 78 countries around the world, holding a total balance sheet of $13.25 trillion, employing 2.1 million people and serving 1.7 billion customers. In Spain, CECA -the association that represents CaixaBank, Kutxabank and Cajasur Banco, ABANCA, Unicaja, Ibercaja Banco, Caixa Ontinyent, Colonya Pollença and Cecabank, and more than thirty foundations- joined the initiative from the very first moment of its inception in 1928. Since then, has maintained a close relationship with the WSBI and an outstanding representation in its governing bodies and working groups.
The work of the WSBI and its entities, under the leadership of its president, Isidro Fainé, who is also chairman of CECA and Fundación ‘la Caixa’, is based on three values known as the '3Rs'. Firstly, its focus on retail, linked to its commitment to the real economy and the financing of households and SMEs; secondly, their rooted quality, in line with their solid foothold in the territories and communities in which they operate and materialised in the development of initiatives to invigorate local economies and promote financial inclusion and, lastly, responsible banking, derived from their historical commitment to Obra Social and sustainability with a focus on vulnerable groups.
In recent years, the WSBI has expanded its influence around the world as an agent of change promoting progress and a sustainable and inclusive future, with a special focus on poverty reduction and educational advancement. CECA is a perfect embodiment of this model of social and responsible banking and is increasingly taking on an important international role in conjunction with the WSBI. Obra Social, the heart and soul of the CECA sector, is a global benchmark in terms of social investment, philanthropy and solidarity. In the same vein, and with the aim of extending its social commitment internationally, last April the WSBI set up the Social and Philanthropic Council, under the chairmanship of Isidro Fainé. This organisation will channel the investment of members of the WSBI towards initiatives that they strengthen to the communities and they tackle the most urgent social requirements. In fact, the companies of the WSBI allocate annually 3,500 million dollars to social initiatives all around the world.
