Their transformation into joint stock companies makes it possible to solve what had become urgent problems, such as the lack of transparency of directors’ decisions, the selfreferentiality of several top-tier figures, and resistance to change. It must foster consolidations that make it possible to rationalize the banks’ organization, increase profitability and efficiency, and strengthen capital.
The law has set an appropriate period of time – ending next December – to allow the largest cooperative banks to plan their strategic choices and carry out all the necessary formalities for their corporate transformation. This process needs to be completed swiftly: waiting until the last minute will expose the banks to uncertainty.