The mutual shareholders own the capital of the 2,410 Local Banks in the form of mutual shares. These Local Banks in turn hold the capital of the 39 Regional Banks. The mutual shareholders elect their representatives, the directors of the Local Banks, who in turn elect the directors of the Regional Banks.
An elected Chairman, and a Chief Executive Officer appointed by the Board of Directors of the Regional Bank are at the head of the governance.
The Regional Banks have a cooperative governance system, which by nature is responsible and fair. According to the democratic vote “1 person = 1 vote”, each mutual shareholder has the same weight in voting in Local Bank Annual General Meetings, regardless of the number of mutual shares held.
More than 29,000 directors elected each year bring their expectations within the Group’s bodies, and ensure good knowledge and consideration of customer needs. The pooling of these experiences is the heart of the mutualist model, which promotes customer- focused action.
