Banking with a difference

The Alternative Bank Switzerland supports ecological, social and artistic projects. (SRF/swissinfo.ch) 

In the profit-oriented world of financial services, Swiss banks are not generally associated with ethics. ABS believes however that the ethical model can work. Set up in 1990, it has more than 30,000 clients.

ABS organises its business much like a traditional bank, with a balance between savings and loans. It is subject to normal banking regulations, but says it is more transparent: it publishes details of the projects it supports. Mortgages – its main business – are more likely to be agreed for energy efficient houses.

The bank drew its inspiration from the Grameen Bank of Bangladesh, set up by economist Muhammas Yunus  to provide microcredit to poor entrepreneurs. In 2006, Yunus and the Grameen Bank won the Nobel Peace PrizeExternal link.

This report zooms in on two cultural projects – an arthouse cinema and an art nouveau hotel – realised with ABS help.