Promotes ethical banking and finances sustainable social projects.
Alternative Bank Schweiz (ABS), founded in 1990 and headquartered in Olten, Switzerland, is a pioneering ethical bank dedicated to promoting social and environmental values. Emphasizing transparency, ABS manages over 2.3 billion Swiss francs in assets and serves more than 43,000 customers. It operates under the principle of "profit sufficiency," meaning it aims for enough profit to sustain its mission but does not prioritize profit maximization. The bank primarily finances projects that contribute positively to society and the environment, focusing on areas like social housing, renewable energy, sustainable agriculture, and health initiatives. ABS has a distinctive funding model that includes a rigorous set of criteria: it does not finance activities related to fossil fuels, weapons, or gambling, and it encourages projects that align with ethical and ecological standards. While the typical financing amount for projects varies, ABS generally aims to support initiatives that demonstrate clear social or ecological benefits. Recent projects funded by ABS include affordable housing developments and renewable energy infrastructure. The bank maintains a public record of its loans to ensure accountability and transparency in its operations. This commitment positions ABS uniquely in the banking landscape, appealing to customers who prioritize sustainable finance and ethical banking practices.