Heirs to a history that has been a factor in the development of communities for over 100 years, we believe that it is possible to operate in a spirit of collaboration and solidarity, combining efficiency and cooperation, reciprocity and profitability, coordination and autonomy. Our status as a Cooperative Banking Group specifically reflects the principles of mutual credit co-operation and reinforces their implementation in our daily operations.
Partners to People and Communities
We want to bank as we have always done, in a way that is faithful to ourselves and to our history.
Our mission is to make a tangible contribution to the economic, social and cultural development of local Communities, promoting the well-being of our Customers, Shareholders and the Areas in which we operate. By leveraging the Banks’ local roots the and through constant dialogue and discussion with stakeholders, the Group’s structure creates the ideal conditions for operating in the best possible way in the service of the local Communities and Areas.
Cooperation, Reciprocity, Locally focussed: these have always been our principles.
We are a network of local, cooperative and mutual Banks, organised into a modern Banking Group.
It is a model that is self-sustaining and creates shared benefits, making the most of differences and local identity.
The Group contributes to the development of the economic, intellectual and social heritage of each country and Community in which it operates.
By means of donations and sponsorships, the Group also supports and promotes initiatives of a humanitarian, solidarity, cultural and sporting nature aimed at supporting and developing Communities.
OUR MODEL: BALANCING AUTONOMY AND COORDINATION
AUTONOMY AND VIRTUOSITY
We guarantee the Banks’ participation in the definition of strategies and objectives and a high degree of operational autonomy, the latter being determined by applying the principle of proportionality based on each bank’s state of health (risk-based approach).
GROWTH AND INNOVATION
We promote investments in innovation and technology, the dissemination of economic and financial knowledge to Customers and steps to make information processes as efficient as possible.
EFFICIENCY AND NIMBLENESS
Balanced governance is a cornerstone of the way we do business. In addition, Cassa Centrale Banca and its Subsidiaries provide Affiliated Banks with tools for the ongoing digitalisation of products and processes, as well as the implementation of partnerships for enhancing centres of excellence and best practices at a local level.
The Cassa Centrale Group has a high financial strength, thanks to the high level of unencumbered intragroup assets, and it aims to maintain a CET1 ratio among the best in the national banking system.
RELATIONSHIP WITH THE COMMUNITY
Strong relations with local communities as well as investments to improve the economic, social and cultural environment are the tools the Group uses to meet the needs of its Shareholders and Customers.
We are a network of Banks formed by people who work for their Community.
Like those same people, our aim is to create wealth that we can pass on to the next generation. A goal that can only be achieved as part of a sustainable way of operating.
The values on which the Cooperative Credit is founded and which form the basis of our actions are fully consistent with the Sustainable Development Goals defined by UN Agenda 2030.
The charter of values of cooperative credit and agenda 2030
The Charter of Values of Cooperative Credit, issued in 1999, sets forth the values on which the activities of Cooperative Credit Banks are based, their strategy and their business practices; it contains the rules of conduct and reflects the commitments of the sector.
In this sense, the Charter of Values is the seal of the Pact between Cooperative Credit Banks and the local Communities and, through them, with the Country.
ART. 1- PRIMACY AND CENTRALITY OF THE INDIVIDUAL
The activities of Cooperative Credit are inspired by the attention to and promotion of the individual.
Cooperative Credit is a network of banks made up of people who work for people.
Cooperative Credit invests in human capital – consisting of shareholders, customers and partners – permanently enhancing it.
ART.2 – COMMITMENT
The commitment of Cooperative Credit focuses, in particular, on satisfying the financial needs of its shareholders and customers, seeking continuous improvement in the quality and value of the products and services offered.
The Cooperative Credit’s aim is to produce benefits and advantages, to create economic, social and cultural value for the benefit of its shareholders and the local community and to “build” trust.
The style of service, the in-depth knowledge of the local area, the excellence of the relationship with shareholders and customers, the supportive approach, and the attention paid to standards of professionalism are a constant motivation for those who manage Cooperative Credit banks and for those who work in them.
ART.3 – AUTONOMY
Autonomy is one of the fundamental principles of Cooperative Credit. This principle is vital and beneficial only if coordinated, connected and integrated into the Cooperative Credit “system”..
ART. 4 – PROMOTING INVOLVEMENT
Internally, Cooperative Credit promotes the involvement, in particular that of its shareholders, in the life of the cooperative.
Cooperative Credit promotes the involvement of local people in business life, favouring families and small enterprises; it promotes access to credit, and contributes to ensuring equal opportunities.
ART. 5 – COOPERATION
The cooperative style is the secret to success. The joining of forces, teamwork, and fair sharing of objectives is the future of Cooperative Credit. Cooperation between cooperative banks through local, regional, national and international structures is a condition for preserving their autonomy and improving their service to shareholders and customers.
ART. 6 – PURPOSE, SERVICE AND BENEFITS
Cooperative Credit is non profit-making.
The achievement of a fair outturn, and not the distribution of profit, is the goal that guides the management of Cooperative Credit. The operating profit is a means for pursuing the promotion of the well-being of the Shareholders and of the local areas served by Cooperative Credit.
It is also evidence of entrepreneurial capacity and a measure of organisational efficiency, as well as an essential condition for the self-financing and development of each cooperative bank.
Cooperative Credit will continue to allocate these profits to consolidate its reserves – to an extent at least equal to that required by law – and to other socially useful activities agreed by the Shareholders.
The accumulated capital is a precious asset to be preserved and defended out of respect for the founders and in the interests of future generations.
Cooperative Credit Shareholders may, in whatever way is most appropriate, obtain benefits proportional to the financial activity that they have individually carried out with their cooperative bank.
ART. 7 – PROMOTING LOCAL DEVELOPMENT
Cooperative Credit is linked to the local community and expresses this by means of a lasting alliance for development.
It promotes the well-being of the local community and its economic, social and cultural development both through its lending activities and through the allocation each year of a portion of its operating profits. Cooperative Credit’s entrepreneurial activity is carried out in a way that is “socially responsible”, rather than being purely financially orientated, and in the pursuit of a fair economy.
ART.8 – ONGOING TRAINING
Cooperative Credit is committed to fostering the development of the skills and professionalism of its directors, managers and employees and the growth and dissemination of an economic, social and ethical culture among its shareholders and local communities.
ART.9 – SHAREHOLDERS
Cooperative Credit Shareholders undertake on their honour to contribute to the development of the bank by working intensively with it, promoting its spirit and commitment within the local community and setting a clear example of democratic control, equal rights, fairness and solidarity among the members of society.
True to the spirit of the founders, shareholders believe in and adhere to a code of ethics based on honesty, transparency, social responsibility and altruism.
ART. 10 – DIRECTORS
Cooperative Credit Directors undertake on their honour to participate in decision-making conscientiously and independently, to create economic and social value for the shareholders and the community, to devote the necessary time to this task, and to personally keep up their professional qualification and ongoing education.
ART. 11 – EMPLOYEES
Cooperative Credit Employees undertake on their honour to cultivate their inter-personal skills with a focus on recognising the individuality of each person and to devote intelligence, qualified commitment and time to their ongoing education and a cooperative spirit to the achievement of the financial and corporate objectives of the bank for which they work.
ART. 12 – YOUNG PEOPLE
Cooperative Credit believes in young people and endorses their active participation in its process of innovation. Through constant dialogue, it is committed to working with them, supporting them in the dissemination and implementation of cooperative credit principles.
The creation of economic value that is sustainable over time and for the benefit of the Local Area is one of our main objectives: it is an essential condition for redistributing the wealth generated among Shareholders, Customers, Employees and all stakeholders and for adequately supporting business investments and Community development.
We have always lived in the Communities and Local Areas in which we operate, alongside the people who live there.
We pursue the growth and well-being of our Communities through a sustainable way of operating and common values to be passed on to future generations.
They are our most important asset: we take care of our Employees because we know that creating a healthy and positive working environment is one of the basic requirements for managing our business responsibly.
- “The Square” is an internal communication platform that reaches all Employees.
- Dedicated themed newsletters
- Health and Safety
- Training and Induction
- Advanced training in partnership with business schools and other educational institutions
- Supplementary pension and health insurance
- Additional insurance cover, over and above the mandatory cover and specific to the Covid-19 risk
- Subsidised loan and mortgage scheme
- Promotion of a culture of safety, protection and prevention
Environmental protection is one of the cornerstones of our strategy.
This is why we take all necessary measures to reduce our environmental impact and strive to raise awareness among all stakeholders, promoting environmentally friendly actions and behaviour that comply with applicable environmental regulations and laws.
Our commitment to promoting a responsible and sustainable culture also impacts our offering, with the implementation of specific commercial and training initiatives aimed at increasing Customers’ focus on investment instruments that integrate environmental, social and governance (ESG) criteria into financial products and processes.
More than EUR 1 billion invested in NEF Ethical, amongst the 34 funds worldwide to have received the Luxembourg Finance Labelling Agency certification for respect for environmental, social and governance (ESG) criteria in ethical finance.
More than 1.6 million customers use the virtual banking platform Inbank, receiving bank documents in electronic format only: a service that in 2020 avoided the print-out of more than 79 million sheets of paper and the emission of more than 3,000 tonnes of CO2.
What we are doing
FORUM FOR SUSTAINABLE FINANCE
Since 2019, we have been members of the Forum for Sustainable Finance, a non-profit, multi-stakeholder association comprising financial players and other stakeholders concerned by the environmental and social impact of financial activities
ETHICAL SUB-FUNDS WITHIN THE NEF FUND RANGE
The creation, within the range of NEF investment funds, of sub-funds consistent with the principles of sustainable and responsible finance
CASSA CENTRALE BANCA’S RETAIL ASSET MANAGEMENT
The start of a process aimed at progressively integrating sustainability and responsibility criteria into the financial instruments used within Cassa Centrale Banca’s Retail Asset Management
The Committee, whose function is to carry out preliminary analyses enabling it to make proposals or provide advice, was set up in 2021. It has the task of assisting the Board of Directors in making evaluations and decisions relating to issues involving sustainability and the cooperative identity..
THE SUSTAINABILITY AND IDENTITY STEERING COMMITTEE
As a result of the considerations and in-depth studies carried out in 2020, as of 1 January 2021 a Board Committee specifically dedicated to the issues of Sustainability and Identity was set up within Cassa Centrale Banca. This was considered to be the most suitable organisational solution in the context of the Cassa Centrale Group’s activities and its needs for the stable integration of sustainability issues into the Group’s strategies.
The Committee, whose function is to carry out preliminary analyses enabling it to make proposals or provide advice, has the task of assisting the Board of Directors in making evaluations and decisions relating to issues involving sustainability and the cooperative identity.
By way of example but not limited to, the Committee is involved in:
- providing assessments and opinions to the Board of Directors regarding the Group’s values and the characteristics of its identity, also with a view to the possible updating of the Group’s Code of Ethics;
- monitoring sustainability issues relating to the carrying out of the business activity and the dynamics of its interaction with all stakeholders, including the definition of the methods of dialogue with stakeholders and the activities for updating the materiality matrix necessary for the preparation of the Consolidated Non-Financial Statement (NFS);
- assisting the Board of Directors in evaluating and approving the NFS pursuant to Italian Legislative Decree 254/2016, and in evaluating measurement models – for the Cassa Centrale Group and for each of the affiliated banks – necessary for conveying both sustainability and identity-related traits;
- providing assessments and opinions to the Board of Directors on the sustainability strategy and the policies aimed at creating value over the medium/long term, that might also be included in the Sustainability Plan to be defined on the basis of the results of the Materiality Analysis and taking into consideration the contribution that the Cassa Centrale Group can make to the achievement of the Sustainable Development Goals defined by the United Nations (Agenda 2030);
- supporting the Board of Directors in assessing the adequacy and effectiveness of the internal control and risk management system, with regard solely to sustainability issues (so-called ESG – Environmental, Social & Governance risks), without prejudice to the responsibilities of the Risk Committee;
- providing assessments and opinions to the Board of Directors regarding the sustainability guidelines/objectives and the resulting processes, including periodic monitoring;
- providing assessments and opinions to the Board of Directors in relation to additional models for measuring the Group’s social impact on the Local Areas;
- defining, reviewing and proposing sustainability/ESG guidelines to the Board of Directors;
- proposing training initiatives on sustainability and identity;
- monitoring and reporting to the Board of Directors on sustainability initiatives in order to consolidate the company’s reputation;
- monitoring and reporting to the Board of Directors on projects conveying the cooperative identity of the Group’s BCC-CR-RAIKA and of Cassa Centrale Banca, in terms of guidelines, projects and monitoring;
- monitoring the transposition of regulatory and statutory developments relating to sustainability and non-financial reporting, and their correct interpretation and assessment in terms of their potential impact on the business.
2020 Consolidated Non-Financial Statement
We are 11,300 people who want to improve the service provided to each Customer, with the aim of finding together the most suitable solutions and to disseminate the economic culture in our local Communities.