London Stock Exchange welcomes the European Banking Federation - EBF

London Stock Exchange welcomes the European Banking Federation - EBF

London Stock Exchange today welcomed the European Banking Federation, the umbrella group for national banking associations in 32 European countries, including all member states of the European Union and EFTA countries. EBF brings together approximately 4500 banks with some 2.1 million employees from across Europe.

Based in Brussels, the EBF is regarded as the voice of the European banking sector. It is a respected partner for the institutions of the European Union, including the European Commission, the European Parliament and the European Central Bank as well as the European Banking Authority and other EU agencies active in the financial sector.

In London for a conference on role of banks in the Capital Markets Union, Wim Mijs, Chief Executive Officer of the EBF, underlined that while some 80 percent company financing in Europe comes from bank loans, European banks are committed to diversifying financing options for business in Europe.

"Capital markets and bank lending are fully complementary, which is why we as EBF support the EU’s project to create a Capital Markets Union as a way to boost capital markets," said Mr Mijs.

"Increasing the diversity of financing will generate greater growth and improve the resilience of the financial sector – and ultimately ‘grow the pie’."

Launched in 1960, the EBF is committed to creating a single market for financial services in the European Union and to supporting policies that foster economic growth. EBF members represent banks that make available loans in excess of €20 trillion to companies and households and that securely handle more than 400 million payment transactions per day.