Sustainable values-based banks, which prioritise people and environment than profit, are outperforming traditional mainstream banks in key financial indicators, a global report suggested.

The report was made public at the annual conference of Global Alliance for Banking on Values (GABV) in Vancouver, Canada yesterday.

The GABV is a network of 15 of the world's leading sustainable banks, including BRAC Bank and BRAC Microfinance Programme.

Muhammad A (Rumee) Ali, chairman of BRAC Bank, is leading a delegation of the Bank in the conference, according to a statement of the Bank.

As sustainable values-based banking is getting popularity globally, GABV has welcomed Canada-based Assiniboine Credit Union as its 15th member.

Commissioned by the GABV and funded by the Rockefeller Foundation and GABV, the report compared the performance of 17 values-based banks with 29 of the world's largest and most influential banks, including Bank of America, JP Morgan, Barclays.

“GABV takes SME financing of BRAC Bank as a model for sustainable economic development. It makes us proud that GABV banks intend to replicate the financing model of a Bangladeshi bank to serve the unserved community in many parts of the world,” Ali said.

The Daily Star/Bangladesh/ 9th March 2012