Earlier this week a unique alliance was formed between twelve idealistic banks from across the world: the Global Alliance for Banking on Values. While the figures show that sustainable banking is highly successful, even in times of crisis, the participating banks say there is a lot of work still to be done.

The Dutch princess Maxima, a former investment banker herself, held a speech during the founding of the alliance in Zeist, the Netherlands. According to Maxima, one thing is clear, “the core values of banking; trust, building sustainable and long-term relationships, and offering products that add real value, are more relevant than ever. And neglecting these values seems to be at the heart of the causes for the crisis.” Indeed, while most banks are struggling, the twelve members of the alliance hardly seem touched by the crisis. All have shown a steady grow, both in customers and deposits, of between 20 and 50 percent over the last year.

Personal relationship
Princess Maxima also stresses the importance of establishing a personal relationship between banker and customer, quoting a representative from a Microfinance Institution: “It is not about increasing market share and trying to get as many products sold to the customers out there, but it is about giving the product that the consumer needs and that they can afford. Knowing your customer, not on a scoring basis, but really knowing that this client has the capacity to pay back his loan.”

Besides working for a sustainable economy, and a sustainable society, the participating banks also strive towards a sustainable ecosystem. The alliance sees a great opportunity to redesign the economy with the environment in mind. As frontrunners in the field they hope to open up a dialogue with the world leaders and clear a path for other banks to follow.

Members of the Global Alliance for Banking on Values:
Shore Bank (USA)
BRAC Bank (Bangladesh)
GLS Bank (Germany)
K-REP Bank (Kenia)
Merkur Bank (Denmark)
Mibanco (Peru)
Banca Popolare Etica (Italy)
Banex (Nicaragua)
ABS (Switzerland)
NewResource Bank (USA)
Xac-Bank (Mongolia)
Triodos Bank (Netherlands)