November 19, 2020
Amsterdam – The Netherlands. — Opportunity International finalized the sale of 78 percent of Opportunity Bank Serbia (OBS) to a consortium of European values-based financial institutions.
The consortium is led by Triodos Investment Management in the Netherlands, through its Triodos Microfinance Fund and Triodos Fair Share Fund, and includes GLS Bank and UmweltBank, both from Germany. The three new investors will each hold significant minority shares in OBS, along with Opportunity.
Martin Rohner, Executive Director of the GABV, “This is a great example of collaboration among our members. It demonstrates the value of a network of progressive banks who can work together to finance a fairer and more just society.”
Vladimir Vukotic, Chief Executive Officer of OBS, stated, “Since our founding in 2002, we have been committed to providing financial services to people who are underserved by banks.
Jacco Minnaar, Chair of the Management Board at Triodos Investment Management, expresses, “This is a landmark investment as the first joint investment of Global Alliance for Banking on Values members into a member bank”.
Thomas Jorberg, Chief Executive Officer of GLS Bank, confirms, “We admire OBS for its mission to provide banking services to people who have had little chance of obtaining financing in the past”.
Goran Bašić, Chair of the Management Board of UmweltBank, highlights, “Our investment in OBS underlines the GABV vision and fits perfectly with the philosophy of UmweltBank, as OBS offers a business model both sustainable and profitable.”
The Global Alliance for Banking on Values (GABV) is an independent network of banks using finance to deliver sustainable economic, social and environmental development.
The GABV comprises over 64 financial institutions and 16 strategic partners operating in countries across Asia, Africa, Australia, Latin America, North America and Europe. Collectively they serve more than 77 million customers and hold over $210 billion of combined assets under management. Learn more at gabv.org
Opportunity International is a global non-profit committed to ending extreme poverty and promoting quality education for families in need.
In 2019, Opportunity International and its partners made more than $3 billion in loans, reaching more than 7 million loan clients and 12 million savings clients in 27 countries, and helped fund 6,400 schools that reached nearly 2 million children. Discover more at opportunity.org
Triodos Investment Management (Triodos IM) connects a broad range of investors who want to make their money work for lasting, positive change with innovative entrepreneurs and sustainable businesses doing just that.
Triodos IM is a globally active impact investor with 750+ investments in over 50 countries with EUR 4.9 billion in assets under management (as per the end of June 2020). It is a wholly-owned subsidiary of Triodos Bank NV, which was founded in 1980 and is a leading expert in sustainable banking. Learn more at triodos-im.com
GLS Bank. Since 1974, sustainability has been anchored in the core of GLS Bank. Our highest maxim is: Money is for the people. For us, money is an instrument to shape both society and the environment we live in. If we do this well, the economic profit is a consequence, not the purpose. Learn more at gls.de
UmweltBank was founded in 1997 following the idea that a bank can be both, sustainable and economically successful. As a special lender for sustainable projects the bank has not only been growing constantly but also increasing its positive social and environmental impact over the past 20 years.
With a total business volume of EUR 5 billion, 120,000 customers and a market capitalization of EUR 370 million UmweltBank belongs to the leading banks within the Global Alliance for Banking on Values. Learn more at umweltbank.de
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Image: “For life full of possibilities”, Courtesy of Opportunity Bank Serbia.