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The Changing Role of Banks in the Financial System: Social versus Conventional Banks

Simon Cornée, Anastasia Cozarenco and Ariane Szafarz

No 22-002, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: Social banks have emerged as a new group of banks that call themselves as “alternative”, “ethical”, “sustainable”, and “value-based”. Their small market share increases at a rapid pace and is still expected to grow in the future. Social banks are institutions with both (at least some) activities of financial intermediation and one or several non-financial missions, typically based on environmental and social values. By unpacking the observable, real-life differences between social banks and conventional banks, this chapter paves the way to theorizing the multidimensional characteristics of social banks within the global banking industry. Business models, governance issues, lending technologies; and social outcomes appear to be key aspects to understand how innovative, value-based, social banks work and how they might one day substantively affect mainstream banking business.

Keywords: Social Banks; Ethical Banks; Social Mission; Financial Cooperatives; Microcredit (search for similar items in EconPapers)
JEL-codes: B55 G21 G28 G32 H23 H81 (search for similar items in EconPapers)
Date: 2022-02-22
New Economics Papers: this item is included in nep-ban, nep-cwa, nep-fdg, nep-hme and nep-mfd
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