A more representative governance

One of the highlights of this General Meeting was the election of new directors and the renewal of the Board of Directors, which is now composed of 13 members, who were elected for a four-year term, following the co-optation of additional members.

The process also resulted in an increased presence of women on the Board – now three female directors, compared to only one previously. This development marks both a significant and natural step towards more balanced, inclusive governance that better reflects the diversity of the Bank’s cooperative members. The Board also renewed its trust in Guy Hoffmann, appointing him as Chairman of the Board for another four-year term. Subject to receiving the required regulatory approvals, the Board of Directors is composed as follows: Guy Hoffmann (Chairman), Marc Hentgen (Vice-Chairman), Manuel Baldauff, Romain Bausch, John Bour, Carlo Hess, Aude Lemogne (new member), Nathalie Mège (new member), Claude Pundel, Marc Reiners, Claude Strasser, Diane Wolter and Laurent Zahles (in his capacity as Chairman of the Management Board).

“This evolution marks an important step towards fulfilling our commitments to diversity, equity and inclusion. As a cooperative bank, we must reflect the society we serve. I am pleased to see our Board becoming more receptive to the diversity of backgrounds and perspectives,” said Guy Hoffmann, Chairman of the Board of Directors Banque Raiffeisen.

A strong cooperative model

The Bank presented its 2024 financial results at the General Meeting, confirming its stability, solid performance in a changing environment, and its ongoing commitment to sustainability, customer proximity, and customer-orientated innovation.

A bank owned by its members

As a cooperative institution, Banque Raiffeisen is owned by its members. Every client can become a member by subscribing to a single €25 membership share, which grants them voting rights at the General Meeting. Banque Raiffeisen currently has over 54,000 members – a strong sign of the trust and loyalty shown by Luxembourg residents.

“Being a member doesn’t just mean supporting a local bank – it means taking part in its decisions, its values and its future. That’s the strength of our cooperative model,” explains Analia Clouet, Secretary General of Banque Raiffeisen.

Members also benefit from an exclusive loyalty program: they collect points for every interaction with the Bank, which can be redeemed for various advantages, such as paying their card fees. A genuine opportunity for the Bank to thank its members for their loyalty.

Profits reinvested for the benefit of our clients

True to its cooperative model, Banque Raiffeisen does not pay dividends to its members. Profits are retained to strengthen the Bank’s capital base and ensure its long-term financial sustainability. This reinvestment also enables the Bank to further support the development of the Luxembourg economy by providing financing to households, municipalities, and businesses.

During the General Meeting, Laurent Zahles, Chairman of the Management Board, also emphasised the central importance of customer experience. He highlighted that Banque Raiffeisen actively invests in improving every point of contact with its clients, while preserving its core values: proximity, availability and the human quality of its relationships.

Press Release - Banque Raiffeisen Ordinary General Meeting: Towards a more diverse governance