We do not rate Italian mutual banks
but for the mutual banking groups that we rate elsewhere, the mutual support mechanisms are sufficiently strong for us to rate each member bank in line with our view of the strength of the group as a whole.
The Customer Owned Banking Association (COBA) has criticised the Australian Banking Association's (ABA's) suggestion to extend the Customer Owned Banking Code of Practice (COBCOP) to mutual banks
and credit unions that are not ABA members.
Now there are just 17--a dozen mutual banks
and five stockholder-owned banks.
The experience of several countries such as France, Italy, Germany and Morocco shows, according to this note, that regional mutual banks
are firmly anchored in their regions and territories and have hugely contributed to the development of Agriculture and SMEs.
Previously President and CEO of First Federal, Coyle oversaw the successful unification of these two longtime local mutual banks
into one new independent regional financial organization.
While 90 percent of mutual banks
say they differentiate themselves from their competitors based on their mutuality, many of them express the same concerns as other community banks.
Douglas Faucette, a spokesperson for America's Mutual Banks
in Washington, an organization that represents mutual savings banks, said he believes the HarborOne conversion is a positive development.
The move comes after other two Italian mutual banks
- Banca Popolare di Vicenza and Banca Popolare di Milano (PMI.MI) - expressed interest in taking over the bank.
THE Educational, one of Ireland's few remaining old-style building societies, is having potential link-up talks with "more than one" of Europe's big mutual banks
The Second Association of Regional Banks, comprising former ''sogo'' mutual banks
, is concerned depositors may shift their funds from banks to the government-backed postal savings, against which these small banks often compete for deposits.
One day I was having a discussion with the Director-General of the Banking Bureau about the structural reform of financial institutions when he suddenly mumbled, "I think it's about time that all mutual banks
ought to be upgraded to become ordinary banks, don't you?"
Milan/London: A reversal of reforms of Italian mutual banks
, "Banche di Credito Cooperativo" (BCC), would be credit negative for the sector, Fitch Ratings says.