Isidro Fainé promotes social commitment of savings and retail banks worldwide from Washington

The World Savings and Retail Banking Institute (WSBI), chaired by Isidro Fainé, held its 34th General Assembly and 4th Social and Philanthropic Council this week in Washington, DC, coinciding with the annual meetings of the International Monetary Fund (IMF). Representatives from 82 retail and savings banks from 59 countries around the world participated in the WSBI meetings.

During his speech to the General Assembly, the Chairman of “la Caixa” Foundation and WSBI stated: “The current international economic landscape has been marked by persistent volatility and ongoing adjustments. Trade tensions between major global actors, geopolitical instability and structural imbalances have created a complex and fragmented environment. Inflationary pressures, energy market disruptions and regulatory uncertainty continue to challenge the resilience of our economies.”

Fainé added: “Yet, in the middle of these challenges, we are also witnessing some encouraging developments: renewed efforts towards strategic cooperation, fiscal initiatives aimed at sustaining growth and technological innovation that reinforces adaptability and competitiveness. The road ahead will require a shared commitment to openness, institutional strength, and constructive dialogue. Only through collaboration and forward-looking strategies can we navigate this transformative moment and build a more stable, inclusive, and dynamic global economy”.

After this, The WSBI regional working groups’ chairmen in Europe, the United States, Asia, Africa, Latin America, and the Caribbean presented the progress made in each region, as well as the most significant challenges.

$4 billion annually for social work

WSBI members have increased their annual resources to nearly $4 billion for social initiatives that contribute to poverty reduction, youth empowerment, female entrepreneurship, elder care, and environmental sustainability.

This was confirmed by the 4th WSBI Social and Philanthropy Council, which this year focused on youth empowerment, especially young women. For international retail banking, this represents a broad and ongoing commitment that ranges from promoting financial literacy and savings habits to expanding access to opportunities and long-term resilience. Other topics focused on by the Council included financial education, job creation for disadvantaged groups, and promoting partnerships between the organization's members and major players in global philanthropy.

Isidro Fainé, President of the WSBI and its Social and Philanthropic Council, thanked all Council members for their commitment and encouraged them to continue expanding it: “In times of uncertainty, investing in people, fostering trust and acting with purpose are essential to shaping a future that is not only economically viable, but also socially fair. By focusing on these themes in today’s meeting, we’re not only building a path for future collaboration and mutual inspiration. We are also working together to shape a more inclusive and impactful future for the next generation.”

The President also stated: “Strengthening social cohesion emerges as a strategic priority. WSBI members, rooted in their communities and guided by values of inclusion and responsibility, play a vital role in supporting vulnerable groups and promoting financial inclusion. These efforts are central to building resilient societies.”

Among other projects, the Junior Achievement Social Innovation Camp, an initiative of Banco Montepio in Portugal, was presented at the meeting. This is a bootcamp designed to empower young people, especially women between the ages of 15 and 18, by encouraging them to develop social entrepreneurship projects.

Also, a positive assessment was made of the WSBI Social Week, a global initiative held from September 8 to 12 of this year, which sought to highlight the social action of WSBI members.

The Social and Philanthropic Council is a WSBI organism that embodies the principles rooted in the member savings banks and retail banks, such as social investment and philanthropic contributions. It also serves as a platform for members to exchange ideas and share best practices, promoting investments to strengthen and empower vulnerable people.

Project in Nigeria and Strategic Partnership with FAO

A new WSBI project in Nigeria, launched in July of this year, was also presented in Washington. This project, aimed to improve the living conditions of small-scale female farmers, is being developed in collaboration with Visa International Foundation and "la Caixa" Foundation, in accordance with the guidelines of the World Bank's WE-Fi-Code (Women Entrepreneurs Finance Initiative Code) program. This is a one-year pilot project that could be extended to other countries in the future.

WSBI has also signed a partnership agreement with the Food and Agriculture Organization of the United Nations (FAO), and is developing also an strategic partnership with AFLATOUN, an organization that provides social and financial education to 10.5 million children and young people worldwide.

Inclusive, sustainable and responsible banking Awards

The WSBI also held the first edition of its Awards, bringing together members from five continents to recognize their contributions to inclusive, sustainable and responsible banking with real impact.

From innovative financial products to climate finance solutions, digital transformation, and initiatives empowering women and youth, the awards showcased concrete examples of how banks are driving progress toward the United Nations' SDGs.

Nearly 100 entries were received across six categories. The Awards reflect the shared commitment of WSBI members to developing inclusive, resilient, and future-proof financial systems. With this initiative, the WSBI demonstrates that responsible banking goes beyond financial performance and focuses on creating long-term value for people, society, and the planet.

About the WSBI

The WSBI is the world's largest retail banking association. Founded in Milan in 1924, it currently represents more than 6,400 savings and retail banks worldwide. WSBI member institutions hold a combined balance sheet of $13.25 trillion, employ 2.1 million people, and serve 1.7 billion customers in 78 countries. They offer banking services to all types of groups, institutions, large corporations, SMEs, and households, with a network of more than 220,000 branches.