Diapositiva 1

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Our faces
Sorry for our absence, we show you our faces.
From left Fabio Salviato, the president of
Banca Popolare Etica Alice Pesiri, the financial
promoter in Friuli Venezia Giulia Franco
Delben, the coordinator of the shareholders
group of Trieste during a meeting in Trieste.
Rogaka Slatina, Slovenjia - 28-29 September 2005
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The idea behind Banca Etica giving credit to
social economy Banca Etica, a bank with a new
philosophy the place where people may meet and
realise the dream of a more transparent and
responsible management of financial resources.
Aim promoting initiatives inspired by values of
human and social development, where the
production and distribution of wealth follow the
principles of solidarity, civil liability and the
realisation of common welfare.
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Legal Profile Banca Etica has the legal form of
a banca popolare. This legal frame guarantees
(i) a high level of participation in the bank's
share capital (ii) the presence of an important
network of contacts on the whole Country (iii)
notably democratic decision-making
processes. When voting, all shareholders have the
same power, regardless of the number of shares
owned 'one subject, one vote'.
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History The bank's solid roots are in the
world of the third sector organisations and its
activities are inspired by principles adopted by
the MAG cooperatives (MAG stands for Mutue per
l'AutoGestione), the first experience in Italy of
ethically oriented finance. Following an
important fund raising campaign, started in 1995,
in December 1998 the Italian Central Bank, Banca
d'Italia, granted Banca Popolare Etica the
authorisation to start operating. On March 8th,
1999, Banca Etica opened its first branch office
in Padua.
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Principles The principles which inspired Banca
Etica's incorporation, and which today
distinguish and characterise its everyday work,
are stated in the article 5 of its Constitution.
They are the principles of Ethic Finance. Banca
Etica's sets out to create social profit The
common interest is the highest interest
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• Savings
• The clients may select one of the four investment
  areas where they intend to dedicate their
  savings
• (i) social co-operation and organised social
  work
• (ii) environmental associations and organic
  agriculture
• (iii) development co-operation in Third World
  Countries and fair trade
• (iv) Cultural and educational initiatives.
• Banca Etica offers the following banking
  products
• Bank accounts
• Certificates of deposit
• Savings books
• Debentures, bonds

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• Shareholders
• The shareholders are considered as the best
  resource. Their active involvement in the bank's
  life is considered of primary importance.
• Banca Etica has promoted the creation of 60 local
  shareholder groups that are the bank's national
  network.
• The local groups aim to
• create a bond between the members and the bank
• facilitate the active participation of
  shareholders in the decision making process
• create a network by means of which the bank is
  linked with the territory
• promote public awareness of ethic management of
  savings
• guarantee the promotion of Banca Etica
• verify regularly whether Banca Etica's
  activities meet the public consent.

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Evaluation procedures Over and above the
traditional economic evaluation procedures, Banca
Etica carries out a thorough analysis of the
social and environmental responsibility. To
grant financing, Banca Etica gives primary
importance to the following aspects  (i) the
reliability of the project, which undergoes a
thorough economic and practical feasibility
analysis (ii) the relation of personal trust
between the people who come into contact while
representing the two organisations.
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• Transparency
• Banca Etica applies the following guidelines
• the clients, savers and financed organisations
  undertake to adhere to the bank's Tasks -
  Fundamentals and in particular beneficiaries
  undertake not to invest the money they receive in
  ways which may  be contrary to such tasks
• all information regarding the loans granted are
  public.
• Transparency is also granted by the Comitato
  Etico (Ethical Committee), a board of 7 members,
  elected by the Shareholders' Assembly. It
  overviews and guarantees that Banca Etica fully
  respects the ethical and social values on which
  it is founded.

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• The network
• ETICA SGR, the financial investment company of
  the Banca Etica Group (see slides hereafter)
• FONDAZIONE CULTURALE RESPONSABILITA ETICA
• ETIMOS (Ethic Microcredit and Solidarity
  Organisation)
• FEBEA, the European Federation of Ethic and
  Alternative Banks, an international association
• SEFEA, European Company for Alternative Ethic
  Finance, a Consortium of alternative and ethical
  financial institutions
• Banca Etica is member of INAISE, International
  Association of Investors in the Social Economy, a
  global network of socially and environmentally
  oriented financial institutions

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• FEBEA
• The European Federation of Ethic and Alternative
  Banks is an international association that unites
  9 financial institutions
• Banca Popolare Etica (Italy)
• Crédit Coopératif (France)
• Caisse Solidaire de Nord-Pas-de-Calais (France)
• Crédal (Belgium)
• Hefboom (Belgium)
• Tise (Poland)
• Femu Qui (Corse - France)
• Charity Bank (Great Britain)
• BFS Bank für Sozialwirtschaft (Germany)
• Cassa Centrale delle Casse Rurali Trentine e
  delle Banche di Credito Cooperativo del Nord Est
  (Italy)

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• SEFEA
• SEFEA's members are the following
• Banca Popolare Etica (Italy)
• Etimos (Italy)
• Crédit Coopératif (France)
• Caisse Solidaire de Nord Pas-de-Calais (France)
• Crédal (Belgium)
• Hefboom (Belgium)
• Societé Financiere de La Nef (France)
• Tise (Poland)

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• Affinity card
• Banca Etica has introduced a special credit card,
  by means of which clients can support a specific
  Association, the first affinity card realised by
  an Italian bank. Each time the credit card is
  used, part of the cost for the service are
  allocated to the Association, without any extra
  cost for the client. Actual partnerships
• Italian section of Amnesty International
• INTERSOS - operates for populations in danger or
  victims of natural disasters and armed conflicts
• MANI TESE - Active in promoting development
• AGESCI - has the task of promoting the education
  of young people by means of the scout method

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• 'Il Posto delle Fragole' a unique
  experience for the city of Trieste
• 'Il Posto delle Fragole' is a cooperative that
  offers help and support to patients and their
  families. The cooperative's activities are aimed
  to
• achieve the  integration in the community of
  young people with a past of mental illness or
  drug related problems
• offer these people training for employment
  opportunities. Today the cooperative manages a
  bar, a restaurant and a hotel in Trieste.Banca
  Etica granted a loan of 50,000 Euro in order to
  guarantee the necessary liquidity for its daily
  activity.
• Moreover 'Il Posto delle Fragole', together with
  Banca Etica, won an Equal project promoted by the
  European Commission. The prise guarantees the
  future of the cooperative's experience, and
  surely helps future creation of further similar
  hotels and/or restaurants.

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Statistical Information Share
capital 18.122.200 euro Members 25.385
(Individuals 21.829 -Organisations
3.556) Savings 341.616.000 euro Loans
239.822.000 euro (n. 1.504) Branch offices in
Padua, Milan, Rome, Brescia, Vicenza, Treviso,
Florence, Bologna Financial promoters in Genoa,
Verona, Modena, Rimini, Bologna, Bergamo,
Florence-Prato-Pistoia, Torino, Perugia, Rome,
Friuli Venezia Giulia, Livorno-Pisa-Lucca Represen
tatives Offices in Naples and Foggia In 2003 an
office was also opened in Bruxelles Update
31/08/2005
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ETICA Sgr Valori ResponsabiliSocially
Responsible Funds

• Investment management company of Banca Etica
• Entirely dedicated to Socially Responsible
  Investments
• Three SRI funds called Valori Responsabili
• Mission meeting the needs of ethically oriented
  families and institutions for transparent and
  sustainable investment solutions

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• Shareholders

Banca Etica controls the company - Capital 4
Mn Euro
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• Who is taking part in the project

Bipiemme Gestioni (asset management)
Etica Sgr (promotion - coordination)
Ethibel (Ethical Advisor)
GPF 11,9
Distributors
Banca Popolare di Milano (custodian)
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• Ethical selection of securities
• The role of the Ethical Committee

• Etica Sgr is also advised by an independent
  Ethical Committee composed by experts in several
  domains of CSR
• Until now Etica Sgr has accepted all proposals of
  the Ethical Committee
• These include the advice not to invest in most of
  the companies approved by Ethibel that belong to
  the financial and oil sectors and to forbid the
  use of derivatives for leveraging and speculation
  purposes

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Ethical selection of securities

• Eticas funds invest in the Ethibel Pioneer
  investing universe which includes about 230
  companies and 22 countries
• Pioneering companies with outstanding performance
  in terms of social and environmental
  sustainability
• The funds are externally certified by the Ethibel
  Pioneer Label

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Thank you for your kind attention.
Franco DELBEN and Alice PESIRI