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.
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