Francesco Bicciato , July Banca Etica is the first alternative bank in Italy, it was constituted as a bank framework in may 98 and it has been starting the banking activities in February It follows some examples of those specific features, in particular the role of the third sector for Banca Etica, the synergy that could be created with local authorities, the evaluation methodology to finance social enterprises, will be shown. Neither the Government nor the Market seem to be able to give an answer and to provide those services towards an improvement of the quality of life, the culture, the free time. Third System and employment, working programme of European Commission for employment, industry and society, DGV, Therefore, they differ from the traditional enterprises because of the lack of profit goals. Their private framework differentiate them also from the public sector. The presence of unsatisfied needs and the opportunity to satisfy them through new forms of economic activities, give room to a wide growth of the Third Sector. Several experiences mixing social and economic goals have been emerging to satisfy an increasing social demand, and at the same time, they have been creating concrete employment opportunities. The interest for the Third Sector is strong in the European Union activities.
A different kind of banking institution
Banca Etica was created in by a big coalition of the major italian social organisations who wanted to create a place where savers, driven by the common desire of a more transparent and responsible management of financial resources, may meet socio-economic initiatives, inspired by the values of sustainable social and human development. The first experience of ethically oriented finance in Italy is represented by the MAG cooperative societies self-management mutual associations. Their traditional aim is to raise savings among their members and to finance socially oriented projects.
Partnership with Emmaus
Banking with Integrity pp Cite as. This chapter is a story of another Italy. It is an Italy that is unknown to most people, far removed from the scandals and media preoccupations that inevitably affect our perception of the reality. It is the story of a group of individuals who, day after day, work in the background in the pursuit of a better world, based on the ideals of social justice and common good. It is the story of Banca Etica, an Italian cooperative bank, which is first and foremost a community of people who have transformed the dream of ethical banking into a reality. This is the story of a successful bank whose activities consider important ethical issues, such as respect for the environment, solidarity, and responsible investing, while maintaining continuous and stable positive financial performance.
The Banca Etica Group offers complementary financial and cultural, environmental and human promotion services. The Banca Etica Group regards savings as an individual good that can contribute to the common good of the community. Banca Etica is the Parent Company. Formed in March , it was the first ethical financial institution in Italy, aiming to finance social cooperation, environmental protection and civil society and to support the non-profit world and the solidarity economy. An innovative bank, the only one in Italy to base all of its operational and cultural activities on the principles of ethical finance: transparency, right of access to credit, efficiency and attention to the non-economic consequences of economic actions. This is in order to manage deposit taking and the granting of credit by directing these activities towards socio-economic initiatives capable of pursuing social goals with full respect for human dignity and nature. Banca Etica, the head of the Banca Etica Group, now has 17 branches in Italy and a widespread network of door-to-door bankers financial advisors authorised to sell offsite throughout the national territory.