Savings Banks in Latin America reiterate their support to real economy and SMEs to overcome financial crisis
[07 12 2009]
El Salvador – At the invitation of Sistema Fedecrédito, leaders from savings and retail banks throughout Latin America are meeting today and tomorrow to discuss the impact of the financial crisis and renew their strong commitment to responsible and sustainable retail banking activities.
“The banking sector needs to focus on supporting the real economy” said WSBI President José Antonio Olavarrieta. “Retail banks are uniquely positioned to work with local entrepreneurs, to finance projects that stimulate local development, to create jobs and increase social cohesion.”
José Luis Mardones, President of BancoEstado in Chile and President of the Regional Group Latin America of WSBI called on all institutions present to “take on the challenge of creating strong national retail banking structures that can mobilize savings, extend responsible credit, and place clients at the heart of their business strategy.”
Macario Armando Rosales Rosa, President of the Sistema Fedecrédito and host of the meeting, pointed out “the current situation on the global financial markets, especially in Latin America, forces financial institutions to analyse the impact of the crisis on the economies of our region.”
The two day meeting, entitled “Savings and retail banks and the financial crisis: challenges and opportunities” hosts a number of discussions, including:
• The impact of the financial crisis on remittances flows
• The capital requirements in the framework of Basel II: opportunity for adjustments in the current context
• The introduction of environmental risk in banking operations.
• Expanding financial access through mobile phone banking.
“We look forward to a positive discussion and sharing of ideas between the members of WSBI from the region” said WSBI Managing Director Chris De Noose. We know that Fedecrédito and savings banks in Latin America are important to the sustained economic and social development of the region. We are in a position to continue in the current context of the global economic crisis.”
WSBI Press Contacts
Dirk Smet, +32 211 11 90, dirk.smet@savings-banks.com
Seth Landau, +32 211 11 91, seth.landau@savings-banks.com
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