FROM CATTLE MARKETS TO CAPITAL MARKETS The UNICO banking group was
founded in 1977 to centralize certain international activities for the
major co-operative banks. Recently, however, its role has come under
attack from some of the group's own members. Euromoney spoke to
UNICO's secretary general, Anthony M. Tuk, about the trends in
European co-operative banking and, in particular, about the contribution
of UNICO.
What are the basic principles underlying the co-operative banks,
and how are these suited to the more deregulated environment of the
1980s?
The basic principle of the co-operative movement has always been to
service the needs of members and clients. That was true at the outset,
and that is still true today. But, as the requirements or expectations
of our members have become more complex or let's say,
international, so the co-operative banks have had to broaden the
services they offer. Take one example. If a...
