Banca Popolare Etica in Italy is one of the largest and most successful examples of growth created in the 1990’s. This bank was created as a result of the need to find financing and loans for the non-lucrative sector in Italy, and especially for social organizations, work cooperatives and social cooperatives.
Banca Popolare Etica was created to put into practice the idea of a bank as a place to meet for savers that demanded a conscious and responsible way of managing their savings, This social and economic initiative drew inspiration from the principles of a human and social sustainable development model.
To develop its activity the bank is based on the following ethical finances principles:
- Ethically guided finances are sensitive to the non-economical consequences of economic actions.
- Credit is a human right.
- Efficiency and austerity are a component of ethical responsibility.
- The profit made from having and exchanging money must be a consequence of activities guided towards a common benefit and must be distributed fairly between all those intervening in the process.
- All operations must be fully transparent.
- It is necessary to foster the participation in decision making not only of to its members but also to savers.
- Any institution accepting the principles of ethical finances shall apply these criteria in all its activities.
It offers banking services and investment funds. Investors can state which sectors they want to invest in (social and health services, education, social exclusion, the environment, cooperation, free trade and cultural activities). They finance projects launched by companies from the third sector with a strong social value to them.
Banca Popolare Etica is an active member of FEBEA, the European Network of Ethical Banks and is supervised by the Bank of Spain and the Bank of Italy.
FIARE is the exclusive agent of Banca Popolare Etica in Spain.
For further information visit www.bancaetica.com