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VOLKSBANK WIEN AG AND ÖGV WELCOMED AGAIN
THE CIBP LINK TRAINING PROGRAMME FOR MANAGERS OF COOPERATIVE AND POPULAR BANKS
IN VIENNA



The 17th CIBP LINK participants closed their training cycle in Vienna last week
with the Innovation module. Open-exchanges were key for this last official
opportunity to meet and settled the personal-business relationship they have
established since they first met in June 2023 in the DZ BANK premises in
Frankfurt.

Under the Sponsorship of our Brazilian and Chilean members, they worked on a
real-case current service monitored by SICOOB and COOPEUCH, with an objective to
diffuse it among CIBP members as a best practice on “what can be done together”.
The objective was to submit to our Sponsors a holistic concept and roadmap,
based on potential cooperation with institutions / organizations to ensure a
successful and long-term collaboration with their members for a dedicated
engagement to the end-user.
This real-case based module was very appreciated by the participants and the
CIBP members. On one hand, SICOOB and COOPEUCH benefited from CIBP members’
Manager's expertise and collective thinking on the possible further development
of their product; on the other hand, CIBP LINK participants acquired extra tools
on collaborative and agile ways of working, input on what Innovation means, on
the TRUST formula and were kept challenged on their Leadership skills.

This could echo with the Institutional day at ÖGV premises, where Mr Gerald
Fleischmann, CEO of VOLKSBANK WIEN AG, recalled the major values on which the
last 10 transition years was successful: Regionality – Customer focus – Trust.
Austrian motto is to be the “Hausbank of the Future for their customers in the
regions”. The joint decision process within the Association of Volksbanken
resulted to be good for all banks. It is an absolute must to keep connecting
with each member, know who the people are, how they contribute to the community,
create their own benchmarks, generate employees equality in numbers and in
functions. VOLKSBANKEN WIEN AG is heading now for a growth path with new
strategy and new way forward.

As we could experience at an ÖGV cooperative commercial member, “Vereinigte
Eisfabriken eG”, reinventing oneself, keeping the track with its generation and
being able to do so after 125 years is a sign of true agility and fundamental
cooperative business model (relevant) basis. 3 stakeholders must be taken into
account constantly: the Members, the Employees and the Customers.
Constantly reflecting on how to make a difference adds increased values to a
business development. In the case of Vereinigte Eisfabriken eG, the 2021 Act on
Renewal energy for Communities and Sustainable business strengthen the social
economic driver of the Cooperative.

We herewith would like to thank again VOLKSBANK WIEN AG and ÖGV for welcoming us
and giving us rich insights, tools for learning, bringing back home ideas and
solutions, orientation and role models for digitalization and sustainability.

 1. SICOOB (Brazil) has developed and launched successfully a service, which is
    called (Clínicas Financeiras) Financial Health
    This service offers people in Brazil the opportunity to have 1:1 support /
    consulting for any financial issues and questions they have. They do not
    need to be clients / members of SICOOB. The service is organized by SICOOB
    and provided by volunteers within SICOOB (employees). This financial service
    will now successfully be launched at COOPEUCH in Chile, too. It will be
    organized and delivered by COOPEUCH.
     
 2. Established in 2001, VOLKSBANK WIEN AG is the largest Volksbank in Austria
    and is characterized by its cooperative identity and sustainably lived
    values. It operates as a regional universal bank, offering a broad range of
    retail banking products and services to private individuals and companies.  
    
    At the same time, VOLKSBANK WIEN AG also takes on the tasks as a central
    financial and credit institution or as a central organization of credit
    institutions, which is affiliated to the professional association of credit
    cooperatives according to the Schulze-Delitzsch system and assigned to the
    company as a member of the credit institution association according to
    Section 30a BWG. The focus of the regional bank is on a sustainable customer
    partnership and ongoing improvement of customer service. The focus is on the
    customer and the quality of advice, and the employees of VOLKSBANK WIEN AG
    are therefore the most important resource in this advice and
    relationship-oriented approach. Numerous awards from Volksbank in the
    Recommender Award and from the FMVÖ (Financial Marketing Association of
    Austria) show that Volksbank is on the right
    track.https://www.volksbankwien.at/
     
 3. ÖGV
    On August 4, 1872, the General Association of Self-Help-Based Austrian
    Acquisition and Economic Cooperatives was founded in Vienna, which
    subsequently became the Austrian Cooperative Association. “The healthy
    existence of the individual and society rests on freedom, combined with the
    responsibility for its use,” said cooperative pioneer Hermann
    Schulze-Delitzsch to the new association at the time. The ÖGV is still
    committed to this legacy today. The Austrian Cooperative Association (ÖGV)
    supports today businesses to set-up a cooperative and provides a legal, tax
    and cooperative business model
    advises. https://www.genossenschaftsverband.at/

 



ASSOCIATION OF VOLKSBANKS:
IMPROVED CORE CAPITAL RATIO CREATES BASIS
FOR FURTHER GROWTH



photo: Gerald Fleischmann / VOLKSBANK WIEN AG
photo credit: Robert Polster

The Volksbanks achieved a very good result in 2023. The Common Equity Tier 1
capital ratio improved to 15.48% and forms a solid basis for further customer
growth.

Due to the successful business performance in 2023, the Association of
Volksbanks was able to increase its preliminary operating result by 188% from
EUR 148.25 million to EUR 427.07 million.
The cost-income ratio of the Association of Volksbanks improved by more than 21
percentage points to 55.5%. The Common Equity Tier 1 capital ratio (CET1) rose
to 15.48%.

"The very good result and the cost discipline in all areas, which contributed to
the improvement of the cost-income ratio, are a joint success of all employees,
the functionaries and our owners", says Gerald Fleischmann, General Manager of
VOLKSBANK WIEN AG and Spokesman of the Association of Volksbanks.

For more information please read here (German).

 


VOLKSBANK VORARLBERG'S
ASSET MANAGEMENT IN
1ST PLACE



photo: Clemens Lengauer/ Volksbank Vorarlberg
photo credit: Marcel Hagen

Volksbank Vorarlberg impresses in a long-term performance project carried out by
the Berlin-based Fuchs|Richter test institute.

Fuchs|Richter is one of the most renowned and important auditors in the
financial sector. In Performance Project V, which started on January 1, 2017,
banks and asset managers competed against an ETF benchmark.

The challenge: a fictitious customer, aged 45, invests one million euros for his
retirement. The participating asset managers had to increase the capital with
one to three of their own funds. After seven years of the project, only four of
the 73 participants managed to beat the ETF benchmark. Volksbank Vorarlberg's
asset management increased its assets to EUR 1.316 million after deducting all
costs with its sustainable mindful investment approach. This puts Volksbank
Vorarlberg in first place.

"The project was ambitious and challenging. I am all the more pleased with the
result, which reflects the success of our investment strategies," says Clemens
Lengauer, Head of Asset Management at Volksbank Vorarlberg.

To learn more, please read here (German).

 



BANQUE CENTRALE POPULAIRE TOOK PART IN THE CONFERENCE ON THE THEME OF
"DECARBONISATION OF EXPORT INDUSTRIES"



Banque Centrale Populaire - BCP took part in the meeting organised by ASMEX, in
collaboration with Engie and Bureau Veritas, on the theme of "Decarbonisation of
Export Industries".

On this occasion, Mr. Ghezala Mounsif, Director of SME Market Animation, said:
"BCP participated, on Wednesday 31/01/24, in the El Jadida stopover of the ASMEX
national tour under the theme "Decarbonization of Export Industries: Path and
Deadlines".

This conference shed light on the challenges and opportunities of the CBAM
(Carbon Border Adjustment Mechanism) through a debate involving various
stakeholders in the value chain: carbon footprint, renewable energy solutions,
support and financing, as well as certification.

The group's participation was marked by:

- The presentation of the offer of support and #greenfinancing integrating all
the measures of the State and partners;
- The production of a podcast with ENGIE's North Africa Regional Director
on decarbonization.

Through this event, BCP's group confirms its commitment alongside its partners,
to support Moroccan exporters in meeting the challenges and seizing the
opportunities offered by the geostrategic position of the country. 

 



SAVE THE DATE!

CIBP SPARK


THURSDAY 29 FEBRUARY 2024




FINANCIAL LITERACY
AROUND THE WORLD

by Sicoob (Brazil)

Join us!

 
 

When? Thursday 29 February 2024 at 14:30 (Brussels time).

Who can participate? All CIBP members.

How? Register to the upcoming SPARK by clicking the below register button or by
sending an email to: info@cibp.coop
 

REGISTER NOW

Where? You will receive a Microsoft Teams meeting link after registering. 

How long? 33 minutes.

Summary: 

Financial literacy has been an important topic for academic research. Some
well-recognized researchers developed the Standard & Poor’s Ratings Services
Global Financial Literacy Survey, which is the world’s largest, most
comprehensive global measurement of financial literacy. It proves knowledge of
four basic financial concepts: risk diversification, inflation, numeracy, and
interest compounding.

The survey is based on interviews with more than 150,000 adults in over 140
countries. In 2014, McGraw Hill Financial worked with Gallup, Inc., the World
Bank Development Research Group, and GFLEC on the S&P Global FinLit Survey. 

You can access the survey report here.

 


Guest speaker: 
Louize Pereira Oliveira
Supervisor at Sicoob Insititute, Brazil, Researcher at University of São Paulo,
Brazil

Louize is a master’s student at the University of São Paulo (USP) and has been
researching about customer financial literacy and over-indebtedness.

She is also specialized in business management, with meaningful experience in
the cooperative business model. She has worked for more than 10 years in the
financial market, specifically in a credit union, working in the areas of credit
and risk, legal and recovery, strategic projects, and social investment.

Currently, she has been working to develop and implement the Financial Education
Agenda of Sicoob, in consonance with the recommendations of the Central Bank
issued in September 2019 and December 2023.

 


SHRINKFLATION' ISN'T A TREND 
IT'S A PERMANENT HIT
TO YOUR WALLET



Products are getting smaller, and you're paying the same. The problem won't go
away, even if the economy rebounds and inflation abates.

'Shrinkflation' – reducing a product's size or quantity while keeping its price
stable – is rampant. As the global economy grapples with issues including rising
raw material costs, supply chain backlogs and higher post-pandemic labourer
wages, consumers are bearing the brunt of spiking production expenses.

Whether it's toilet roll or a bag of crisps, the practice, which mostly happens
during times of inflation, is showing up in shops around the world. Last week,
French supermarket Carrefour put stickers on products to warn consumers when a
packet's contents have gotten smaller without a corresponding price decrease.

Consumers are taking note of the shift to smaller packaging and – and,
naturally, they aren't happy, especially as their purchasing power is already
falling amid inflation. Yet as uncomfortable as the sticker shock is now, a
longer-term problem looms large: past manifestations of the phenomenon show the
story of shrinkflation doesn't end when inflation does. 

In terms of consumer frustrations, "they notice price increases more than they
notice size decreases", says US-based Mark Stiving, the chief pricing educator
at Impact Pricing, an organisation that educates companies on pricing. As a
result, he says, companies use shrinkflation to raise prices "less painfully".

 



French supermarket Carrefour has put signage up to alert customer when a product
size has gone down but its price has not.

Instead, a new phenomenon often takes hold. "After products are repeatedly
reduced in size, the manufacturer will come out with a new, larger version of it
– sometimes with a fanciful new name," agrees Edgar Dworsky, a former US
consumer rights lawyer and founder of resource guide Consumer World. And with
it, shoppers pay a higher cost for the upgrade. 

Potato crisps, for example, have continued to downsize amid shrinkflation, says
Dworsky. In past instances, snack company Lay's, a division of PepsiCo,
responded to this change by ultimately re-releasing its large bag size, but with
a new name – "Party Size" – that they could sell at a higher price. 

Dworsky also points to toilet roll, which he says has been shrinking for
decades. He explains that when the rolls started to get small enough that
consumers noticed, manufacturers began introducing larger sizes back to the
market again. As bigger packages made their way onto shelves, companies
including Charmin shifted their marketing, naming them "double", "triple" and
even "mega" rolls. 

Whether grocers use stickers to warn shoppers or not, it's a tough pill to
swallow – and a tough hit to the bottom line – especially because the price of
products generally doesn't fall as inflation does. Consumers may need to
continue to be highly budget conscious as they shop, and make sure they don't
fall into the trap of that Ultra Mega Super-Duper size on the shelf.

 
 

CIBP
Confédération Internationale des Banques Populaires
74 YEARS OF INTERNATIONAL LEARNING FORUM & BUSINESS
NETWORKING OPPORTUNITIES AMONG COOPERATIVE AND POPULAR BANKS.

www.cibp.coop

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