The Group with 646 banks and over 30 million customers responds to high-risk business and mismanagement in individual institutions
Cooperative banks tighten security system after financial scandals
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Summary
The group includes 646 banks and specialist institutions that serve more than 30 million customers. Our measures improve our early warning systems and significantly increase our crackdown. The cooperative financial group generated a profit of 11.6 billion euros before taxes last year. This was due to a slight increase in net interest income and a 56 percent increase in insurance business.
Furthermore, BVR President Marija Kolak referred to a corresponding resolution of the General Assembly on the new rules from June: "We initiated and implemented "Geno Next Level" because we saw high-risk transactions, mismanagement or gross negligent behavior among those responsible in individual banks.". The consequences are usually visible years later - and our community of solidarity is expensive. The bottom line was an annual profit of 7.4 billion euros.
Cross-referenced from 4 sources.
Factual coreconfirmed by several independent voices
The group includes 646 banks and specialist institutions that serve more than 30 million customers.
reliability moderate2/3 sourcesOur measures improve our early warning systems and significantly increase our crackdown. The cooperative financial group generated a profit of 11.6 billion euros before taxes last year.
reliability moderate2/3 sourcesThis was due to a slight increase in net interest income and a 56 percent increase in insurance business.
reliability moderate2/3 sourcesBVR President Marija Kolak referred to a corresponding resolution of the General Assembly on the new rules from June: "We initiated and implemented "Geno Next Level" because we saw high-risk transactions, mismanagement or gross negligent behavior among those responsible in individual banks.".
reliability moderate2/3 sourcesThe consequences are usually visible years later - and our community of solidarity is expensive.
reliability moderate2/3 sourcesThe bottom line was an annual profit of 7.4 billion euros.
reliability moderate2/3 sources
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