Advertisement
Advertisement

Eco-bank profits from financial crisis

Share this article

Eco-bank profits from financial crisis
Photo: DPA
13:59 CEST+02:00
The ecologically-minded UmweltBank based in Nuremberg is doing well out of the global financial crisis, it said on Tuesday.

The bank won 9,000 new customers in 2008, the biggest annual growth in its 15-year history, and boasted a further 4,000 new customers in the first quarter of this year. It now has 74,000 customers altogether, a statement said.

“Investors are looking for more meaning and security in their investments, and are switching to the UmweltBank ,” the bank said , adding that they expected growth to continue. “The UmweltBank is virtually unaffected by the global financial crisis.”

The UmweltBank invests exclusively in ecological projects, and also publishes an “environmental balance,” according to which its customers saved 1.6 million tonnes of CO2 in 2008.

Three-quarters of the bank’s credit approvals in 2008 were for solar energy systems and ecological construction works. The annual net profit was reported to be €6.6 million higher than last year. As it did last year, the bank is paying out €0.50 dividends per share. The bank’s transaction volume rose by 13.4 percent to €1.27 billion last year compared to 2007.

Share this article

Advertisement
Advertisement

From our sponsors

7 ways to help your child adjust to life abroad

Moving abroad can be a big adjustment for anyone - and it's even harder when the move wasn't your choice. So how do you help your children settle in when your family makes the move?


Database error:

You have an error in your SQL syntax; check the manual that corresponds to your MySQL server version for the right syntax to use near ')
			ORDER BY
				entries.ENTRY_MODIFIED DESC
			LIMIT
				10' at line 20