Banque Raiffeisen is a Luxembourgish

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

ing and

financial service Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

s company. Founded in 1926, it is one of the oldest banks in Luxembourg. The bank is independent from foreign shareholders. It is a member of the International Raiffeisen Union (IRU), which is an association of cooperatives based on the ideas of

Friedrich Wilhelm Raiffeisen Friedrich Wilhelm Raiffeisen (30 March 1818 – 11 March 1888) was a German mayor and cooperative pioneer. Several credit union systems and cooperative banks have been named after Raiffeisen, who pioneered rural credit unions. Life Friedrich Wilh ...

History

Since its creation in 1926, Raiffeisen Luxembourg has become the first independent cooperative bank in the Grand-Duchy, covering the entire national territory. In 1970, The Luxembourg Raiffeisen network accounted 138 caisses across the country. As of 2013, Banque Raiffeisen has about 50 sales points all over the country; 11 of them depending directly from the bank, the others belonging to the 13 Caisses Raiffeisen controlled by the bank. Banque Raiffeisen has been designated as a "less significant institution" since the entry into force of

European Banking Supervision European Banking Supervision, also known as the Single Supervisory Mechanism (SSM), is the policy framework for the prudential supervision of banks in the euro area. It is centered on the European Central Bank (ECB), whose supervisory arm is re ...

in late 2014, and as such is directly supervised by the ''

Commission de Surveillance du Secteur Financier The (CSSF) is the main financial regulatory authority in Luxembourg. Since 2014, it has been the country's national competent authority within European Banking Supervision. The CSSF is also responsible for the supervision of experts in the f ...

''. Banque Raiffeisen has evolved from a rural union to a universal financial institution, covering retail activities but also specialising in business, private banking and wealth management.

Art Contest

In collaboration with other cooperative banks in Europe, namely

Raiffeisen (Switzerland) Raiffeisen Switzerland is a cooperative of cooperatives – the union of all independent Switzerland, Swiss Friedrich Wilhelm Raiffeisen, Raiffeisen banks. It bears responsibility for the business policy and strategy within the Raiffeisen Group. ...

Raiffeisen Zentralbank Raiffeisen Zentralbank Österreich A.G. (RZB) was a significant bank in Austria and the central institution of the Raiffeisen Banking Group (RBG) until its merger into its subsidiary Raiffeisen Bank International (RBI) in 2017. It had subsidi ...

Austria, the

German Cooperative Financial Group The German Cooperative Financial Group (, sometimes referred to in English as "Volksbanken Raiffeisenbanken Cooperative Financial Network") is a major cooperative banking network in Germany that includes local banks named Volksbanken ("people's ...

in Germany, Raiffeisen Südtirol in Italy,

Crédit Mutuel Crédit Mutuel () is a French cooperative banking group, one of the country's top five banks with over 30 million customers. It traces its origins back to the German cooperative movement inspired by Friedrich Wilhelm Raiffeisen in Alsace–Lorr ...

in France and

OP Financial Group OP Financial Group is one of the largest financial companies in Finland. It consists of 180 cooperative banks and their central organization. "OP" stands for "osuuspankki" in Finnish, literally meaning "cooperative bank". The financial group has ...

in Finland. Banque Raiffeisen organizes an annual art contest for young people between 4 and 18 years. In Luxembourg, the drawing contest is called Raiffeisen Molconcours.

Events

Banque Raiffeisen organizes an annual conference on financial markets in collaboration with Vontobel.

Charity

Banque Raiffeisen supports Luxembourgish charities including: Croix-Rouge , Ligue HMC, Fondation Cancer, SOS Villages d’enfants du Monde, SOS Faim and the FLEK – .

Notes and references

External links

*
www.molconcours.lu

www.greencode.lu

Bibliography

* Rudolf Maxeiner, ''Raiffeisen: Der Mann, die idee und das Werk'', Deutscher Genossenschafts-Verlag ed.,1988 * André Bauler, ''Les fruits de la Souveraineté nationale'', Caisse Centrale Raiffeisen, s.c. ed., , 2001 {{Banks of Luxembourg
Banks of Luxembourg Raiffeisen (Luxembourg) Banks established in 1926 1926 establishments in Luxembourg