22-23 May 2003 in Madrid, Spain, at the Palace of Congresses the World Savings Banks Institute (WSBI) held its 20th World Congress of Savings Banks. The opening ceremony was chaired by Their Majesties, King Juan Carlos and Queen Sofia of Spain. More than 700 banks and international organizations representatives, as well as public figures from all over the world gathered at this high level international forum which takes place once every three years.
  At the Congress delegates discussed its main theme "Savings Banks: Efficiency and Commitment to Society", as well as the role of the financial sector in the global economy and a variety of other important problems. It was stressed that savings banks, being the pillars of national banking systems, play a special role in national development of their own countries. Not only they accumulate mass savings but also reinvest them into the economy. In addition, delegates pointed out that while possessing wide branch networks and servicing large numbers of individual clients savings banks bear a heightened social responsibility. 
  Viewpoints on these issues were shared by Donald J. Johnston, Secretary General of the OECD, Pedro Solbes Mira, EU Commissioner – Economic and Monetary Affairs, Jaime Caruana, Governor of the Bank of Spain, Otmar Issing, Member of the Executive Board of the European Central Bank, Cesare Calari, Vice-President of the World Bank, and many other high ranking representatives of financial and public circles.
  Andrei I. Kazmin, Chairman of the Board and CEO of Sberbank, was reelected Vice- President of World Savings Banks Institute and Member of its Board of Administration. In his report to the Congress, Mr. Kazmin spoke about the social and economic mission of Sberbank underlining that the very existence of it had been in itself an important factor in ensuring stability of the Russian banking system, Russia's economic growth and, consequently, the well-being of the citizens. On the occasion of the 20th Congress, the WSBI members unanimously adopted their Declaration in which they stressed the position of WSBI on urgent problems facing the international community of savings banks in today's world. In particular, the Declaration appeals to international institutions to take into account national interests of the economies and banking systems of each country, as well as their own historical, economic and social background when attempting to introduce uniform rules and procedures.
  The document also outlines that reforms – often demanded by international financial institutions – should not damage deeply rooted and experienced institutions successfully operating in the financial market. Therefore, the restructuring of national banking systems is a time sensitive procedure to be implemented with extreme care in order to avoid negative impacts on the access to financial services for all strata of the population and on the economy as a whole.
  During the Congress sessions WSBI members assessed the activities of the Institute which unites more than 100 members from 91 countries, for the time passed and drafted future ways of savings banks co-operation worldwide. New WSBI Administration members were elected for the next 3-year term including Dr. Holger Berndt - President (Germany), Mr. Jose Antonio Olavarrieta Arcos (Spain), Ms. Eulalia Arboleda De Montes (Colombia), Mr. Jiang Jianqing (China), Mr. Ernest Saina (Kenya), Ms. Nicole Moreau (France) – Vice-Presidents.