Three more banks have joined the Global Alliance for Banking on Values (GABV), which aims to finance sustainable economic, social and environmental development.
City First Bank of DC (USA), Ekobanken (Sweden), and Southern Bancorp (USA) are the newest GABV members.
The new members take the total membership of GABV to 28, a report says.
The new members of GABV had been following values-driven agenda even before they became part of the alliance.
City First Bank of Washington DC supports and strengthens underserved communities by providing them with banking and allied services. The Swedish bank Ekobanken holds transparency at its core value.
Southern Bancorp, in turn, focuses on creating economic opportunity in rural America through increased access to capital and financial services that empower individuals, families and communities.
Member banks of GABV are independent and profitable organisations that have been delivering long-term benefits for people and the environment.
“They are grounded in their communities, and work in the real economy to offer transparent, inclusive financial services for a wide range of customers. GABV members play a crucial role in the transition to a more sustainable global economy,” according to a statement.
GABV, which was founded in 2009 has operations spanning Asia, Africa, Australia, Latin America, North America and Europe. It serves 20 million customers and manages combined assets of $100 billion. The alliance is powered by a network of 30,000 co-workers, the statement adds.
Ajith Kumar S