The first savings banks were created in Europe at the end of the 18th century with the belief that the basic tasks of banking must be accompanied by a sense of responsibility to the community. Their role has evolved dynamically since then, but this belief has remained constant. While their values remain rooted in their communities, savings banks are successfully adapting to the emergence of the global economy. They know that their customers need the range of universal services offered by giant banking groups. Savings banks are preserving pluralism and choice in banking by co-operating closely to provide these services, while retaining a dependable human face for their customers.
Savings banks are by no means all the same.
The way they are organised reflects the culture and the economic and financial development of the countries in which they operate. In some countries savings banks compete with each other, in others their activities may be strictly defined. A savings bank may stand alone or it may be part of a network operating in a town, district or region coordinated by a national organisation.