GLS bank
Encyclopedia
The GLS Bank is a German bank that was founded in 1974 as an anthroposophical
initiative. It was the first bank in Germany that operated with an ethical philosophy
. According to GLS Bank, its focus is on cultural, social and ecological initiatives, initiated by people, and not anonymous interests seeking capital or maximum profit. The name stands for Gemeinschaftsbank für Leihen und Schenken which translates as Community bank for loans and gifts. With the main focus on cultural, social and environmental ventures, GLS try to deal with challenges in the society by developing creative solutions.
The bank is based in Bochum
, Germany and is a co-operative. As of November 2006, the bank's total balance was EUR 645 million.
As of 31 December 2008 the balance sheet total was EUR 1013 million, further rising to EUR 1847 million as of 31 December 2010.
In 2010, the bank acquired over 18,000 new customers and in February 2011 GLS announced a growth of 37 per cent, the largest in the banks history.
Anthroposophy
Anthroposophy, a philosophy founded by Rudolf Steiner, postulates the existence of an objective, intellectually comprehensible spiritual world accessible to direct experience through inner development...
initiative. It was the first bank in Germany that operated with an ethical philosophy
Ethical banking
An ethical bank, also known as a social, alternative, civic, or sustainable bank, is a bank concerned with the social and environmental impacts of its investments and loans. Ethical banks are part of a larger societal movement toward more social and environmental responsibility in the financial...
. According to GLS Bank, its focus is on cultural, social and ecological initiatives, initiated by people, and not anonymous interests seeking capital or maximum profit. The name stands for Gemeinschaftsbank für Leihen und Schenken which translates as Community bank for loans and gifts. With the main focus on cultural, social and environmental ventures, GLS try to deal with challenges in the society by developing creative solutions.
The bank is based in Bochum
Bochum
Bochum is a city in North Rhine-Westphalia, western Germany. It is located in the Ruhr area and is surrounded by the cities of Essen, Gelsenkirchen, Herne, Castrop-Rauxel, Dortmund, Witten and Hattingen.-History:...
, Germany and is a co-operative. As of November 2006, the bank's total balance was EUR 645 million.
As of 31 December 2008 the balance sheet total was EUR 1013 million, further rising to EUR 1847 million as of 31 December 2010.
In 2010, the bank acquired over 18,000 new customers and in February 2011 GLS announced a growth of 37 per cent, the largest in the banks history.
External links
- Official website (English)
- Official website (German)