2023 Consolidated Non-Financial Statement

2023 Consolidated Non-Financial Statement Cover

Our 2023

Letter to the stakeholders

Once again, in 2023 the Cassa Centrale Group saw a tangible development in the principles of mutual credit cooperation. The ambition to be a Group that cares about its Customers, the Communities where it operates, its People, and the environment that surrounds it continues to be driving force behind our daily actions; we are constantly inspired by the values of ethics, social and environmental responsibility, and attention to the development and support of our Communities.

Giorgio Fracalossi
Giorgio Fracalossi
Chairman
Sandro Bolognesi
Sandro Bolognesi
Chief Executive Officer

Summary data

The results achieved in 2023 confirm that the path towards sustainable growth we have undertaken is more pertinent than ever and well-equipped to address future challenges.

Almost
2.3 mln
Customers
More than
474 thousand
Cooperative Members
(+10 thousand vs 2022)
96%
Electricity from renewable sources

Principles and Values

The values of Cooperative Credit are the foundation of our daily work, reflected in our constant engagement with the local community and committed efforts to build a sustainable development model.

Our business model's pillars

Independence and honesty
Growth and innovation
Efficiency and agility
Capital strength
Relationship with the Communities

Value creation

Since our beginnings, we have been committed to creating sustainable economic value over time for the communities we represent and all stakeholders.

2.95 bn€
economic value generated
65.2%
economic value distributed

Our impact

Our choice to reside within the communities we serve reflects our commitment to proximity and genuine relationships, as well as our dedication to generating positive impacts on people, communities, and the environment.

Sustainability Plan
with 5 areas of intervention
14 SDGs
impacted by our work

The sustainability strategy

We have established our strategic priorities in sustainability through ongoing dialogue with all stakeholders. The identification and prioritization of material topics have considered the impacts we can have on the external environment and how these, in turn, influence our business.

Download files

Icona pdf 2023 Consolidated Non-Financial Statement Download PDF Icona download
Icona pdf Letter to the stakeholders Download PDF Icona download
Icona pdf 2023 Sustainability Summary Download PDF Icona download
Icona link esterno Complete document archive Browse
Annual Financial Report 2023 Cover
Icona link esterno Annual Financial Report 2023 Browse
Financial Capital

Inherent in our business, financial capital characterises the operations of each bank.
The financial capital we generate through our activities is used to guarantee our customers’ investments and support their businesses. What’s more, we reinvest the financial capital generated in the local areas and communities we operate in, sustaining a virtuous circle for growth and progress.

Intellectual Capital

Innovation and knowledge of new trends and technologies guarantee products and services in line with what the market has to offer and meet needs that are changing over time.
We use clear, direct and effective communication, since we consider transparency the cornerstone of any ethical bank. We invest in our name and our brand, so they can be recognised and create value for the entire Group and all of our members. We want to remain a bank to be proud of.

Productive Capital

We have offices and branches located across Italy. Widespread and far-reaching, our banks represent the Group and our closeness to each member and customer.
We are committed to making every branch a pleasant, refined and harmonious place, where aesthetics meet ethics, contributing to the development of towns and the architectural and cultural heritage characteristic of Italy.

Social and Reputational Capital

The heart of our model and most distinctive feature. We work alongside local communities, accompanying and investing in the same because we consider their cohesive and harmonious growth a source of progress.
All of our relationships are based on mutual trust, inclusion and sharing. We appreciate long-term relationships that span multiple generations, remaining true to our commitments. We are cooperative by nature.

Natural Capital

We are aware that our business has an impact on the natural environment we live in. This is why we aim to give back to our surroundings, through our initiatives that protect and safeguard environmental resources.
We promote a sustainable, responsible and respectful economy, which focuses today on the management of the earth’s ecosystem in the medium and long term.

Human Capital

We would not exist without our people. Far from being a slogan, this fact is a reality: our Group relies on its people, who bring to the system the skills, motivation, passion and attention that distinguish our every relationship.
We strongly believe in the importance of both professional and personal growth, as individuals and member of the community, and we contribute to the economic, moral and social development of all employees.