World Savings Banks Institute Works with its Members on an International Effort to Increase Savings Accounts Among the Poor

BRUSSELS, November 13 - The World Savings Banks Institute (WSBI) will be working with members in
10 different countries as a part of a global effort to dramatically increase
the number of savings accounts among poor people in developing countries.
WSBI selected the banks after a global competition based on proposals to
increase access to financial services and banks' existing presence in local
communities.

Regarding the upcoming project Chris De Noose, Managing Director of WSBI
said "We are excited to be working with our members in expanding even further
our existing services to more people throughout the world. Ensuring that
poorer people have formal savings accounts is important for the financial
stability of the families involved and the general well being of the economy
both in developed and in developing countries."

In total, ten banks were chosen to participate in the project from Kenya,
Tanzania, Uganda, South Africa, Burkina Faso, Lesotho, Morocco, El Salvador,
Indonesia, and Vietnam. All of the banks involved are members of WSBI with
broad geographical outreach within their respective countries and strong
traditions of working with lesser advantaged populations.

Research by the World Bank suggests that building domestic savings
mobilisation helps the poor get out of poverty. Setting aside small sums in a
safe place allows people to guard against risks like illness or crop failure,
build assets, and provide opportunities to the next generation. Poor
households with access to savings accounts and other basic financial services
can manage unexpected events, invest in opportunities like education, and
build financial security. Access to financial services in general is now
recognised as a key condition for helping to break the chain of poverty and
in supporting developing countries to achieve greater economic growth.

There are a number of efforts which WSBI members will undertake as part
of this project. Some will be working to decrease dramatically the costs of
having a savings account by, for example, upgrading IT systems. Others will
be expanding their reach into areas where people have little to no access to
formal financial services such as rural areas and poor neighbourhoods.

Chris De Noose reiterated why working with WSBI members is so important.
"Savings banks around the world are already leading the way in providing
access to financial services for people in general. This is a great
opportunity to work with members in developing countries in order to expand
financial services and financial security even further."

This project is supported by a three-year grant from the Bill & Melinda
Gates Foundation to WSBI. The grant is part of the foundation's Financial
Services for the Poor initiative, which is working with a wide range of
public and private partners to harness technology and innovation to bring
quality, affordable savings accounts and other financial services to the
doorsteps of the poor in the developing world.

WSBI - The Global Voice of Savings and Retail Banking

WSBI (World Savings Banks Institute) is one of the largest
international banking associations and the only global representative of
savings and retail banking. Founded in 1924, it represents savings and retail
banks and associations thereof in 92 countries of the world (Asia-Pacific,
the Americas, Africa and Europe - via ESBG, the European Savings Banks
Group). WSBI works closely with international financial institutions and
donor agencies and facilitates the provision of access to financial sectors
worldwide - be it in developing or developed regions. At the start of 2008,
assets of member banks amounted to more than EUR10,000 billion, with
operations through more than 191,000 branches and outlets.

For more information, please visit: www.savings-banks.com.

    Editors Notes

    WSBI Press Contacts
    Dirk Smet, +32-211-11-90, dirk.smet@savings-banks.com
    Seth Landau, +32-211-11-91, seth.landau@savings-banks.com

WSBI Press Contacts, Dirk Smet, +32-211-11-90, dirk.smet at savings-banks.com, Seth Landau, +32-211-11-91, seth.landau at savings-banks.com