Global Alliance for Banking on Values Launched

Eleven of the world's leading sustainable banks have created a new alliance to build a positive alternative to a global financial system in crisis. The banks, which have assets of over US$10 billion and serve over 7 million customers in 20 countries, came together for the first time at a special meeting in the Netherlands from March 2 - 4, 2009.

Speaking at the launch, Peter Blom, CEO of Triodos Bank, said, "Unlike their enormous mainstream contemporaries, these banks are profitable, growing and crisis resistant. When it was unfashionable to do so, they stuck to simple, core banking services that balance people, planet and profit. There's no one single answer to the global financial crisis. There are many. But the leaders of these organizations, acting on an international stage, hold many of them. Together they are an extraordinary force for change".

The new partnership plans to develop new ways of working, build organizations better suited to long-term sustainable thinking, and new forms of ownership and economic cooperation. Given the financial crisis, and its profound and lasting influence, the new Alliance believes its timing is crucial. Members include:

• Alternative Bank ABS, Switzerland
• Banca Popolare Etica, Italy
• Banex (Banco del Exito), Nicaragua
• BRAC Bank and BRAC Microfinance Programme, Bangladesh
• GLS Bank, Germany
• Merkur Bank, Denmark
• Mibanco (Banco de la Microempresa), Peru
• New Resource Bank, United States
• ShoreBank Corporation, United States
• Triodos Bank, The Netherlands
• XacBank, Mongolia

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