Promotes socially responsible finance and invests in sustainable projects.
Fiare Banca Etica is a cooperative bank operating in Italy and Spain, formed through the merger of Italy's Banca Popolare Etica and Spain's Fiare in 2014. It is part of the European ethical banking movement, focusing on socially responsible finance and investment. The bank prioritizes funding projects in areas such as social cooperation, international development, environmental protection, cultural initiatives, and sustainable agriculture. It operates with transparency, allowing public access to information about all loans granted. Fiare Banca Etica has over 48,000 members and manages savings of nearly €2.5 billion, with loans totaling around €1.2 billion. The bank offers various financial products, including loans, credit lines, and guarantees to individuals, social enterprises, and small businesses. Recent initiatives include a €60 million agreement with the European Investment Bank to support gender equality, refugee inclusion, and development in southern Italy. Additionally, a €164 million guarantee from the European Investment Fund is set to unlock over €200 million in investments for social enterprises and microenterprises in Italy and Spain. The bank evaluates loan applications based on both financial criteria and a social-environmental assessment, ensuring funded projects align with its ethical principles and contribute to positive societal impact.