The National Association of German Cooperative Banks (BVR) is taking a firm stand against the EU Commission's proposals concerning banking union which call for the creation of a single resolution mechanism or for a merger of the national resolution funds of individual countries. "We remain committed to fighting any communitization of bank risk at the expense of the German banks. This is something we owe to our customers and members," said Uwe Fröhlich, President of the BVR.
Last year, the Cooperative Financial Network 's consolidated total assets grew by 3 percent to €1,090 billion.