Ten Years of #BankingOnValues Moving Forward Together
Annual meetings 1. Zeist - The Netherlands (2009) Inaugural Meeting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 2. Dhaka - Bangladesh (2010) Moving From Intention to Action. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 3. Lima - Peru (2011) Delivering Better Banking in Challenging Times. . . . . . . . . . . . . . . . . . . . . . . 14 4. Vancouver - Canada (2012) Building a Movement for Sustainable Banking. . . . . . . . . . . . . . . . . 18 5. Berlin - Germany (2013) Change-makers: Transforming Banking Values . . . . . . . . . . . . . . . . . . . 22 6. Melbourne - Australia (2014) Banking on a More Sustainable World . . . . . . . . . . . . . . . . . . . . . . . 26 7. Paris - France (2015) Banking on Values: The New Financial Revolution . . . . . . . . . . . . . . . . . . . 30 8. Amsterdam - The Netherlands (2016) It’s Banking But Not as We Know It . . . . . . . . . . . . . . . . . . 34 9. Kathmandu - Nepal (2017) Shifting the Financial Paradigm: Courage to Act Together . . . . . . . 40 10. Arequipa - Peru (2018) Values-based Banking Revisited: Facing the Future Together . . . . . . . . 44
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Ten Years of #BankingOnValues: Moving Forward Together
Peter Blom, GABV Chair It is my great pleasure to present you with this booklet to celebrate ten years of the Global Alliance for Banking on Values (GABV). The results we have achieved over the last decade are proof that we are moving in the right direction. The passion and commitment of our members during that time has helped to change finance. It shows that money can be a powerful force for positive change. This anniversary is also important because it marks a period of intense work making our vision come true. We have developed real influence in the financial industry; from regulators to the press, our voice is increasingly heard. We have come a long way since March 2009, and the inaugural meeting of the GABV in The Netherlands. We managed to inspire many more members to join – from nine members then, to more than 50 members now. We also encouraged many supporting partners to join us to work with us on activities that safeguard the environment and benefit the people we seek to serve. While its central philosophy has stayed the same, the GABV has grown from a CEO-only network to become a genuine movement of like-minded financial institutions operating around the globe to make the world a better place.
alize that they have the power to make change happen in the world, including through something as simple as the bank they choose to do business with. While the past ten years can and should be celebrated, there is much more to do. The next decade will be crucial for the GABV and our movement. We have built an effective network with strong members, but we have to go further. The movement has to be at the forefront of the banking industry, forging new possibilities for us all, and not a niche within it. We will mark our tenth anniversary in Vancouver, hosted by Vancity. A public Summit will discuss key topics that matter to the people we serve and the financial industry that supports them: Migrants, MeToo and Melting Icecaps ‌ Redefining Banking for a Radically Different Future. The discussion around these three topics have shaped the GABV’s strategy for the next ten years. I look forward to working together with you to make it happen, to shape the future of a responsible financial sector that helps safeguard our environment, and is more diverse and inclusive.
Every day GABV members demonstrate that banking can be done differently, in a way that respects human dignity and values our environment. They serve millions of people who are beginning to re3
What is Global Alliance for Banking on Values The Global Alliance for Banking on Values (GABV), founded in 2009, is a network of banking leaders from around the world committed to advancing positive change in the banking sector.
We connect banks, banking cooperatives and credit unions, microfinance institutions and community development banks and support their work on systemic change of financial systems.
Our collective goal is to change the banking system so that it is more transparent, supports economic, social and environmental sustainability, and is composed of a diverse range of banking institutions serving the real economy.
Our members focus on one shared mission – to use finance to deliver sustainable economic, social and environmental development, with a focus on helping individuals fulfil their potential and build stronger communities. We deliver our work by upholding to the Principles of Values-based Banking:
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Triple Bottom Line Approach
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Real Economy
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Client Centred
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Long Term Resiliency
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Transparency
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Culture
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Presently there are 54 independent GABV member banks, profitable and growing, from Asia, Middle East, Africa, Australia, Latin America, North America and Europe, with combined assets of USD 163 billion, including third party funds under management as of year-end 2016. Members include microfinance banks in emerging markets, credit unions, community banks and sustainable banks financing social, environmental and cultural enterprise. Together they touch the lives of people in 36 countries.
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Ten Years of #BankingOnValues: Moving Forward Together
Members (December 2018) 1. Alternative Bank Switzerland (Switzerland) 2. Amalgamated Bank (USA) 3. Banca Etica (Italy) 4. Banco Ademi (Dominican Republic) 5. Banco FIE (Bolivia) 6. Banco Mundo Mujer (Colombia) 7. Banco Popular (Honduras) 8. Banco Solidario (Ecuador) 9. Bancompartir (Colombia) 10. BancoSol (Bolivia) 11. BANFONDESA (Dominican Republic) 12. Bank Australia (Australia) 13. Bank of Palestine (Palestine) 14. BRAC Bank (Bangladesh) 15. Caisse d’économie solidaire Desjardins (Canada) 16. Caja Arequipa (Peru) 17. CARD Bank, Inc. (Philippines) 18. Centenary Bank (Uganda) 19. Charity Bank (UK) 1 20. City First Bank of DC (USA) 21. Cooperativa Abaco (Peru) 22. Cooperative Bank of Karditsa (Greece) 23. Crédit Coopératif (France) 24. Cultura Bank (Norway) 25. DAI-ICHI KANGYO Credit Cooperative (Japan) 26. Ecology Building Society (United Kingdom) 27. Ekobanken (Sweden) 1
Associate bank
28. ESAF Small Finance Bank (India) 29. First GREEN Bank (USA) 30. Freie Gemeinschaftsbank Genossenschaft (Switzerland) 31. GLS Bank (Germany) 32. Kindred Credit Union (Canada) 33. LAPO Microfinance Bank (Nigeria) 34. MagNet Bank (Hungary) 35. Merkur Resource Bank (Denmark) 36. Missoula FCU (USA) 37. Muamalat Bank (Malaysia) 38. National Cooperative Bank (USA) 39. New Resource Bank (USA) 40. NMB Bank Limited (Nepal) 41. Opportunity Bank (Serbia) 42. SAC Apoyo Integral, S.A. (El Salvador) 43. Southern Bancorp (USA) 44. Sunrise Banks (USA) 45. Teachers Mutual Bank (Australia) 46. The First Microfinance Bank Afghanistan (Afghanistan) 47. The First Microfinance Bank Tajikistan (Tajikistan) 48. Triodos Bank (The Netherlands) 49. UmweltBank (Germany) 50. Vancity (Canada) 51. Verity CU (USA) 52. Vision Banco (Paraguay) 53. Vermont State Employees Credit Union (USA) 54. XacBank (Mongolia)
Supporting Partners (December 2018) 1. Aga Khan Microfinance Agency 2. Asociación de Universidades Confiadas a la Compañía de Jesús en América Latinan (AUSJAL) 3. B Lab (Europe) 4. CARE International 5. CEMS 6. FMO 7. Fundación Avina 8. Oikocredit 9. SME Finance Forum 10. The Institute for Social Banking 11. Wellbeing Economy Alliance
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Zeist - The Netherlands (March 2009) Inaugural Meeting In 2009, seeking to provide support to the values-based banking model as an alternative to the banking models that led to the financial crisis, three values-based banks - BRAC Bank, Shorebank and Triodos Bank founded the Global Alliance for Banking on Values. Their aim was to contribute to the growth and development of social and environmental renewal in the global banking system by: a. Thought Leadership. Building additional capacity to overcome current social, environmental and individual human development challenges for our communities, by combining the strengths and diverse experiences of values-based banking professionals at a multi-local, regional and global level. b. Solidarity. Bringing together the Chief Executives of licensed banks who, through direct engagement would find and exchange ideas about operating methods, organizational structures, new forms of ownership and ways of further economic and social cooperation. c. Practical Solutions. Combine different levels of senior management – directors, functional management and young leaders to improve values-based banking practices, create new tools and methods and look for best practices beyond financial intermediation. The first meeting to discuss forming an alliance took place in March of 2009. Ten banks were invited to the Netherlands for a public event and meeting. The founding members identified an intent and common purpose to: • grow, develop and more clearly define values based banking, • understand and express shared intent through common and
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individual initiatives designed to create, through action, bonds between members, • welcome and seek out a diversity of banks who shared common values, from different geographies, histories and banking models, recognizing that this would be an important contributor to learning and clarifying what we mean by values based banking, • develop a common way to define and assess ‘values based banking’ so that all member banks could make use of and apply a ‘scorecard’ to themselves and to future members. • recognise the importance of being thought leaders in the banking industry and develop ways to express our way of banking through common and individual bank initiatives. • agree that our impact on the banking industry would come through growing and developing successful banks, recognizing that common values are a necessary but not sufficient condition for success. • sustain the alliance through CEO commitment to actively participate in the meetings and initiatives of members. In the first meeting, there was far from common agreement about the agenda of the alliance. Some banks had a distinctly green orientation, some focused more on values and culture, and some were more committed to social inclusion. Some banks had been working for decades on their banking model, while others were just getting started. All were committed to economic development based on a set of conscious values recognised the importance and potential of money as tool and driver of transformation and all agreed on the importance of learning and growing together as a movement.
Ten Years of #BankingOnValues: Moving Forward Together
“Imagine when you go to sleep at night that your money flies out of your purse and travels around the world. Where do you want it to land? Where can your money do the most good?� Vince Siciliano, previous CEO, New Resource Bank 7
Princess Maxima and Rumee Ali (BRAC Bank)
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Ten Years of #BankingOnValues: Moving Forward Together
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Dhaka - Bangladesh (March 2010) Moving From Intention to Action Number of members in the Alliance end of 2010: 12
“The financial world has changed, but the economic crisis is only one among other more profound crises; food, poverty and climate change are all converging. Their influence, particularly in countries like Bangladesh which could be hit earliest and hardest by climate change, could be catastrophic. Against this backdrop, we believe the sustainable banks represented here, from across the developed and developing world, have a vital role to play to provide a positive, lasting answer to these fundamental questions.� Peter Blom, Chair of GABV at the opening of the meeting in Bangladesh 10 Ten Years of #BankingOnValues: Moving Forward Together
Client visits
Ten Years of #BankingOnValues: Moving Forward Together
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“We are increasingly dependent on each other economically, wherever we live in the world. If we are to tackle the global problems we face, we are going to need international action to do it. We believe these banks have the potential to change the architecture of the financial world, and start delivering lasting solutions for unserved and underserved communities and sectors.� Fazle Hasan Abed, Founder and Chairperson of BRAC 12 Ten Years of #BankingOnValues: Moving Forward Together
Ten Years of #BankingOnValues: Moving Forward Together
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Lima - Peru (March 2011) Delivering Better Banking in Challenging Times Number of members in the Alliance end of 2011: 20
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Ten Years of #BankingOnValues: Moving Forward Together
“The members of the Global Alliance for Banking on Values start with a human need and find an economic way to meet it. And that makes all the difference. We are delighted to welcome them to Peru, to build a better future for banking that serves the needs of millions of people across the globe.� Luis-Felipe Derteano, Chair of Grupo ACP
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“The major long-term challenge is to come up with an easily explained concept of responsible banking. Not just a slogan, but something that people recognise as a necessity; as a way of doing business; as a way of behaving. The practical steps that the GABV members are taking in this regard would be very interesting.� Ochir Dugersuren, previous CEO, XacBank
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Client visits
Ten Years of #BankingOnValues: Moving Forward Together
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Vancouver - Canada (March 2012) Building a Movement for Sustainable Banking Number of members in the Alliance end of 2012: 24
“Like Vancity, members of the Global Alliance for Banking on Values recognize that we are all economically interdependent, that we must listen to the people we serve, and that banks can play a key role in improving the quality of life for current and future generations.� Tamara Vrooman, Vancity CEO
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Public Event: Banking on Changing the World: People, Prosperity and a New Perspective The Business Case for Values-Based Banking
Ten Years of #BankingOnValues: Moving Forward Together
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Client visits
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Ten Years of #BankingOnValues: Moving Forward Together
“Values-based banks offer a credible, positive alternative to mainstream banking, and we’re delighted to bring some of the world’s most groundbreaking banks to Vancouver to build on this worldwide movement.” Peter Blom, GABV Chair 21
Berlin - Germany (March 2013)
Change-makers: Transforming Banking Values Number of members in the Alliance end of 2013: 24
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Ten Years of #BankingOnValues: Moving Forward Together
“For some time sustainable banks have quietly gone about their business, focusing on financing the real economy and adopting a prudent approach to their capital position, precisely because they view profit as a means to an end, not an end in itself.� Thomas Jorberg, CEO of GLS Bank 23
Public Event
“The financial industry can change, and has an unprecedented opportunity to do so.� Luis-Felipe Derteano, Chair of Grupo ACP 24 Ten Years of #BankingOnValues: Moving Forward Together
Ten Years of #BankingOnValues: Moving Forward Together
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Melbourne - Australia (March 2014) Banking on a more sustainable world Number of members in the Alliance end of 2014: 24
“In a shrinking world, we are all connected. As individuals and communities we have the power to impact the lives of others in the future by how we choose to behave today. This is particularly true of banks because they connect people’s savings and investments with the businesses in the real economy – enterprises that make the things we use and provide the services we depend on. This puts them in an important position of responsibility.” Peter Blom, GABV Chair 26 Ten Years of #BankingOnValues: Moving Forward Together
Ten Years of #BankingOnValues: Moving Forward Together
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Public Forum: Banking on a more sustainable world
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Ten Years of #BankingOnValues: Moving Forward Together
“Our mission is to change society in a sustainable direction - and to do it with employees who often come from the conventional banking system. This is a big job and only my peers from the GABV understand my challenges!� Caroline Panum, Merkur Bank, Denmark 29
Paris - France (March 2015)
Banking on Values: The New Financial Revolution Number of members in the Alliance end of 2015: 27
“I welcome the approach of the Global Alliance for Banking on Values enterprises that engage in virtuous actions, and the financial institutions that support them, embody an economy of change. They combine economic performance and strong social value. They will contribute to regenerate the engine of economic growth.� Carole Delga, Secretary of State for Trade, Crafts, Consumer Affairs and the Social and Solidarity Economy 30 Ten Years of #BankingOnValues: Moving Forward Together
Ten Years of #BankingOnValues: Moving Forward Together
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Public Event: Banking on Values: The New Financial Revolution
Ten Years of #BankingOnValues: Moving Forward Together
“Banks will need to reinvent themselves to remain relevant in the next decade.” Kurt Koenigsfest, CEO BancoSol 33
Amsterdam - The Netherlands (March 2016) It’s banking but not as we know it
Queen Maxima attending a panel discussion in The Netherlands
Number of members in the Alliance end of 2016: 39
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Ten Years of #BankingOnValues: Moving Forward Together
Panel Discussion: It’s banking but not as we know it.
“Sustainability is about long term, about balancing the interest of all stakeholders, including generations not yet born. Sustainability needs to get out of the catacombs of specialised departments. it needs to become part of boardroom discussions and strategy. It needs to become completely unavoidable.” Frank Elderson Executive Director of the Dutch Central Bank 35
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Ten Years of #BankingOnValues: Moving Forward Together
“It is not so much what we can do together but what we mean together”, Marcos Eguiguren, Executive Director GABV 37
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Ten Years of #BankingOnValues: Moving Forward Together
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Kathmandu - Nepal (March 2017) Shifting the financial paradigm: Courage to act together Number of members in the Alliance end of 2017: 47
“Sustainable banking helps the economy to add value and generate employment opportunities, which are essential for overall development of the country� Pushpa Kamal Dahal, Prime Minister Nepal 40 Ten Years of #BankingOnValues: Moving Forward Together
Ten Years of #BankingOnValues: Moving Forward Together
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Pushpa Kamal Dahal, Prime Minister Nepal Public Event “Shifting the financial paradigm: courage to act together�
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Ten Years of #BankingOnValues: Moving Forward Together
Banks need to move forward on a new, actionable, shared value approach. They have to revamp their role within society by devising financial products and services to address social and environmental needs, extending existing business and capturing new lines of business in areas that are currently considered “unbankable.� Dr. Chiranjibi Nepal, Governor, Nepal Rastra Bank 43
Arequipa - Peru (March 2018) Values-based Banking Revisited Facing the Future Together Number of members in the Alliance end of 2018: 54
“We want to raise awareness within regional financial institutions of the role we play in the sustainable development of the communities in which we operate. This includes our role in fostering responsible finances, respecting the diversity of people, innovation and financial education.� Ramiro Postigo Castro Central Manager of Finance and Planning, Caja Arequipa 44 Ten Years of #BankingOnValues: Moving Forward Together
Ten Years of #BankingOnValues: Moving Forward Together
“We, as a bank, want our resources to benefit everyone and harm no one�. Kat Taylor, CO-CEO Beneficial State Bank. 45
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Public Event: The role of banks in education: Innovation, values and social profitability
Client visits
Ten Years of #BankingOnValues: Moving Forward Together
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The Global Alliance for Banking on Values (GABV) is a network of banking leaders from around the world committed to advancing positive change in the banking sector. Our collective goal is to change the banking system so that it is more transparent, supports economic, social and environmental sustainability, and is composed of a diverse range of banking institutions serving the real economy. Contact details Global Alliance for Banking on Values Nieuweroordweg 1 PO Box 55 3700 AB Zeist The Netherlands www.gabv.org
Global Alliance for Banking on Values Š 2019