Brussels, 11 September 2024
The European Savings and Retail Banking Group (ESBG) is pleased to announce the publication of its new Manifesto which outlines the Group’s strategic priorities and commitment to advocating for a competitive, responsible, and inclusive European banking sector. This Manifesto reflects the vision of European savings and retail banks, committed to supporting communities, fostering trust and serving all EU citizens.
The ESBG Manifesto arrives at a pivotal moment for the European Union as it enters a new legislative term from 2024 to 2029. The Manifesto highlights the essential role of savings and retail banks, which serve approximately one in three European citizens, in contributing to the economic stability and social well-being of Europe. Our banks stand as a backbone of stability and social well-being, directly impacting the lives of everyday citizens, local businesses, and communities. With a collective loan portfolio of €3.7 trillion to households and SMEs, ESBG’s 33 members are critical players in financing the real economy and in strengthening Europe’s position in the global financial landscape.
Key priorities for enhancing EU competitiveness
The Manifesto outlines several key priorities for the upcoming legislative term, which are crucial to ensuring that European savings and retail banks can effectively compete on the European stage, whilst fostering a level playing field among EU financial markets players.
- Simplifying the EU Legislation though proportionality to promote EU Competitiveness: Advocate for clear, proportional regulations that respect subsidiarity, allowing national regulators to address specific challenges and ensure European banks remain competitive.
- Empowering banks as vital financiers of the EU Economy: Support policies that unlock lending capacity, enabling savings and retail banks to drive job creation, economic resilience, and help build a stronger Europe that thrives through local success stories.
- Facilitating the green and sustainable transition: Promote the integration of ESG principles into banking, enhancing Europe’s leadership in the global green finance sector.
- Promoting the savings banks’ responsible approach in the day-to-day banking activity: Reinforce a human-centric banking model that places people first, builds trust and loyalty, positioning European banks as leaders in responsible practices.