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French cooperative bank, Crédit Coopératif, has become the Global Alliance for Banking on Values’ (GABV) 21st member, as the business case for sustainable banking grows.

Crédit Coopératif, a cooperative bank with over a century’s experience financing the French social economy has become the latest values-based bank to join the GABV. The announcement comes as the GABV releases a study comparing the financial performance of values-based banks like Crédit Coopératif, and the ‘too-big-to-fail’ banks over the last ten years.

The results reveal the strength of a growing movement of values-based banks who allocate more of their balance sheet to lending to the real economy, attract more deposits, and command stronger capital bases than the big banks – defined in the report as Globally Systemically Important Financial Institutions (GSIFIs).

Crédit Coopératif is a pioneer of sustainable finance, offering the largest range of ethical banking products and investments in France. With assets of EUR 14 billion, it offers a range of innovative products tailored for customers focused on building a positive social and environmental future.

“We are very pleased to announce that Crédit Coopératif has joined the Global Alliance for Banking on Values,” said Peter Blom, GABV Chair and CEO of Triodos Bank. “Their long-term commitment to financing the social economy, in a major European economy, provides an important example of the increasing relevance of values-based banks to the broader banking industry.

“Crédit Coopératif join us just as important new research confirms what we have known for some time; that sustainable banks are resilient, committed to the real economy, and produce steady and reasonable returns.”

Speaking at a press conference to announce the results of the research, Crédit Coopératif President, Jean-Louis Bancel welcomed the cooperative’s appointment as the GABV’s newest member: “We are delighted to join the GABV at a time when the need for new, effective and sustainable approaches to banking could hardly be more urgent.  We look forward to sharing our experience in France, and collaborating with like-minded financial institutions from around the world.’’

 

Contact:

James Niven
Programme Manager
GABV
E james.niven@gabv.org
T +31 30 694 2421, +31 6 5390 8150

 

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