In March 2009, the Artevelde University School of Ghent started a short research project in partnership with the European Social Fund and the Global Alliance for Banking on Values. The aim of this preliminary research is to analyze and describe parts of the business model of these banks. These banks have come together in an Alliance, which suggests they have something in common. What exactly are the binding elements between these banks? Undoubtedly, as these banks have all been created in different countries or regions, by different people and run through different processes, there will also be differences between their business models and approaches.

This report is the result of four-months of research and aims to give first insights into the characteristics of the member banks of the Global Alliance. As the research period was rather limited, the research has primarily been based on the 2007 and 2008 annual reports of the banks (where available), and on the information available on the banks’ websites. In addition, as part of the research process, the researchers were able to rely on the results of an expert meeting organized in May 20092 and on the continuous support and insights of Mr. Frans De Clerck (Global Alliance for Banking on Values).

In the first chapter the researchers describe and analyze common and varying elements of the business models and economic performance of the member banks of the Global Alliance. In the second chapter Banca Etica, BRAC Bank, BRAC Microfinance and Triodos Bank are analyzed more thoroughly.