Is there a bank that voluntarily strives to be more regulated? Yes, there is – even though the opposite trend appears to be the case regarding regulation in the financial sector. On the contrary, one of our main objectives in founding a ProCredit bank in Germany was to bring all of the banks in the ProCredit group under the supervision of BaFin and the Bundesbank. This objective has now been achieved. At the same time, we have expanded our group-wide risk management policy and have strengthened our internal anti-money laundering rules, which apply to all of our banks.
We do this of our own volition because we are convinced that good rules foster responsible banking. If there is one important observation that has continually proven to be true over our many years of engagement in developing countries and emerging economies, it is this: A responsible, fair financial system with well-regulated – and therefore stable banks – is a critical precondition for sustainable development of the economy and society.