Cooperative banking on Notably News

Cooperative banking

Type of retail or commercial bank organized cooperatively

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We include updates on Grameen Bank, Credit union, Rabobank, Savings and loan association, The Co-operative Bank, DZ Bank, JAK Members Bank, Primary Agricultural Credit Society, List of co-operative banks in Germany, Credit unions in the United States, Norinchukin Bank, Bank Rakyat, Mutual savings bank, Bankers' bank, Cosmos Co-operative Bank Ltd, Anyonya Co-operative Bank ... and more.

January 2025	German Cooperative Financial Group The Financial Supervisory Authority banned the Raiffeisenbank im Hochtaunus eG from granting loans due to defaulted loans, low equity ratio, and structural risks identified through press investigation.
January 1 2025	The Co-operative Bank The acquisition of The Co-operative Bank by Coventry Building Society was completed.
2024	JAK Members Bank Dagens Nyheter reported that thousands of JAK Members Bank customers were unable to withdraw their money, with some customers waiting over 7 years for withdrawals that the bank cannot fulfil without becoming insolvent.
November 2024	The Co-operative Bank Regulatory approval was granted for the acquisition of The Co-operative Bank by Coventry Building Society.
November 2024	German Cooperative Financial Group The Financial Supervisory Authority replaced the management of Volksbank Düsseldorf-Neuss with a special representative following a fraudulent transfer of €100 million and revelations about potential money laundering connections.
May 24 2024	The Co-operative Bank Coventry Building Society finalised its takeover of the bank and announced it would not give its members a vote on the deal.
April 19 2024	The Co-operative Bank Coventry Building Society agreed takeover terms for The Co-operative Bank, with a deal worth up to £780 million, subject to contract and regulatory approval.
March 2024	The Co-operative Bank The bank announced plans to consult staff on a restructure that would reduce staffing by 12%, approximately 400 staff members.
2023	Grameen Bank The Sixteen Decisions were updated to Eighteen Decisions, reinforcing the bank's social and community-oriented principles for borrowers.
2023	European Association of Co-operative Banks President Quinten from BVR, Germany, becomes the latest President of the European Association of Co-operative Banks.
2023	Banca Popolare di Bari The bank was renamed from Banca Popolare di Bari to BdM Banca, reflecting its new ownership and strategic direction.
October 2023	The Co-operative Bank Challenger bank Shawbrook entered into acquisition talks with the Co-operative Bank.
September 2023	Saraswat Co-operative Bank Ltd Received a Rs. 23 Lakh penalty from RBI for contravening banking regulations regarding loans and advances to directors and their related entities.
August 2023	The Co-operative Bank The bank acquired the mortgage accounts of Sainsbury's Bank as part of its wider turnaround plans.
July 2023	Banca Popolare di Bari Renamed from Banca Popolare di Bari to BdM Banca (Banca del Mezzogiorno).
2022	Alpen Privatbank Alpen Privatbank was formed through the merger of AlpenBank and the private banking unit of Walser Raiffeisen Bank.
2022	Primary Agricultural Credit Society All India Primary Agricultural Credit Societies (PACS) total number increased to 99,635, showing growth in the number of societies across various Indian states and regions.
2022	German Cooperative Financial Group The Raiffeisenbank im Hochtaunus eG in Bad Homburg opened an online banking service and began aggressively advertising for new customers.
2022	European Association of Co-operative Banks The European Association of Co-operative Banks (EACB) and Tilburg University compiled the latest comprehensive data on cooperative banks, revealing significant economic impact including 225 million customers served, 89 million members, 2,500 regional and local banks, and 36,500 branches across Europe.
April 2022	Raiffeisen Pierin Vincenz and Beat Stocker were sentenced to prison for causing financial damage through hidden personal investments and unauthorized expenses, including charging Raiffeisen for private activities like strip club visits and Tinder dates.
April 2022	German Cooperative Financial Group DZ Bank, Deutsche Apotheker- und Ärztebank, and Münchener Hypothekenbank were designated as significant institutions under European Banking Supervision, becoming directly supervised by the European Central Bank (ECB).
March 31 2022	German Cooperative Financial Group The Cooperative IPS included a total of 781 member entities at the end of March.
January 25 2022	Punjab and Maharashtra Co-operative Bank Punjab and Maharashtra Cooperative Bank officially merged with Unity Small Finance Bank Ltd., with all PMC Bank branches transitioning to become branches of Unity Small Finance Bank.
2021	The Co-operative Bank The Bank's Open Banking service began experiencing a 'temporary outage' that continued into 2023.
2021	Grameen Bank Bank expanded its coverage to 81,678 villages out of 87,223 total villages in the country, achieving approximately 94% national coverage. Cumulative loan disbursements exceeded 2.5 trillion taka (US$33.767 billion).
2021	European Association of Co-operative Banks Nina Schindler becomes the Managing Director of the EACB, taking over from Hervé Guider.
2021	Cooperative Bank of Oromia Published annual report showing total asset value of ETB 140 Billion, with 750+ branches, 13.2 million account holders, and 8,100 employees.
2021	Cooperative banking For the financial year 2021/2022, the British building society sector reported assets of around £483 billion, with Nationwide Building Society accounting for more than half of these assets.
June 2021	Saraswat Co-operative Bank Ltd Imposed a monetary penalty of Rs. 25 Lakh by RBI for non-compliance with directions on 'Interest Rate on Deposits' and 'Maintenance of Deposit Accounts'.
February 1 2021	Dime Community Bank Bridge Bancorp Inc. (BNB Bank) and Dime Community Bancshares successfully completed a merger of equals.
2020	The Co-operative Bank The relationship agreement between the Co-operative Bank and the Co-operative Group officially ended.
2020	Saraswat Co-operative Bank Ltd Ranked second-best bank in India by Forbes' The World's Best Banks 2020 survey.
2020	Primary Agricultural Credit Society All India Primary Agricultural Credit Societies (PACS) total number recorded was 93,995, with significant variations across different regions of India.
2020	Anyonya Co-operative Bank Several people were arrested for a fraud involving Rs 1.7 crore of assets previously deposited by the liquidators.
2020	Raiffeisen Raiffeisen cooperative shareholders received an interest rate between 3% and 4% as determined by the annual general assembly.
2020	German Cooperative Financial Group DZ Bank reported that 88.3 percent of its total operating income was generated from within Germany, highlighting the group's strong domestic focus.
2020	European Association of Co-operative Banks President Marttin from Rabobank Nederland assumes the EACB presidency, leading until 2023.
2020	Abhyudaya Co-operative Bank Ltd The bank experienced a significant financial decline, with profits decreasing by over 12 crore and both Gross and Net Non-Performing Asset (NPA) levels increasing during the 2020-21 financial year.
2020	Abhyudaya Co-operative Bank Ltd Reserve Bank of India (RBI) imposed a penalty of Rs 58 lakh on Abhyudaya Co-operative Bank for non-compliance with regulatory norms during the 2020-21 financial year.
2020	Mutual savings bank Eastern Bank demutualized and listed its stock on the New York Stock Exchange.
2020	Banca Popolare di Bari The bank was acquired by Banca del Mezzogiorno - MedioCredito Centrale, signaling a major change in ownership and management.
November 2020	The Co-operative Bank US private-equity firm Cerberus Capital Management engaged in acquisition talks with the bank.
October 2020	The Co-operative Bank Andrew Bester informed the board of his intention to step down as CEO, and was subsequently replaced by Nick Slape, who was previously the bank's CFO.
August 2020	The Co-operative Bank The Co-operative Bank announced the closure of 18 of its 68 remaining branches, to be completed by the end of the year, and planned an 11% reduction in staff numbers in response to decreased branch usage and low interest rates.
June 2020	Banca Popolare di Bari Shareholders approved a restructuring plan to convert the bank to a joint stock company and inject 933 million euros in new capital from state-owned Banca del Mezzogiorno - MedioCredito Centrale and Fondo Interbancario di Tutela dei Depositi (FITD).
June 19 2020	Punjab and Maharashtra Co-operative Bank RBI further doubled the withdrawal limit to ₹100,000 for PMC Bank depositors.
2019	The Co-operative Bank The bank's auditors, KPMG, were fined £4 million by the Financial Reporting Council for misconduct related to the Britannia Building Society takeover, particularly concerning the valuation of commercial loans and liabilities.
2019	The Co-operative Bank The Co-operative Bank committed to ongoing engagement with the Customer Union for Ethical Banking through a formal recognition agreement.
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This contents of the box above is based on material from the Wikipedia articles Cooperative Bank of Oromia, Punjab and Maharashtra Co-operative Bank, Saraswat Co-operative Bank Ltd, Anyonya Co-operative Bank, Abhyudaya Co-operative Bank Ltd, JAK Members Bank, German Cooperative Financial Group, Banca Popolare di Bari, Primary Agricultural Credit Society, European Association of Co-operative Banks, Dime Community Bank, The Co-operative Bank, Mutual savings bank, Cooperative banking, Grameen Bank, Raiffeisen (Switzerland) & Alpen Privatbank, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.

See Also

The Co-operative Bank

Nationwide Building Society

European Association of Co-operative Banks