Finance attentive to social issues and the environment continues to grow in Italy. The heritage of Ethics Sgr – management company of Banca Etica, the only institution in our country that focuses exclusively on this sector – reached 2,9 billion euros at the end of 2016 and then exceed the threshold of 3 billion in the first quarter of 2017. Value grew by about six times compared to 2012 (when it stood at 504 million) and is more than doubled compared to 2014 (1,3 billion).
At the end of last year – reads a company note – customers exceeded 151 thousand, achieving a growth of 29% compared to 2015. According to the Assogestioni surveys as at 31 December 2016, Etica Sgr is the first operator in Italy in the sector of ethical mutual funds, having a market share of 48%.
As regards the 2016 budget, it closed with a net profit of 3 million euros. Commission income rose to 33 million, while the intermediation margin stood at 10,8 million and gross profit reached 4,6 million euro.
Members will be distributed a dividend payout of 2.385.000 euros, equal to 5,3 euros per share. In light of the good performance of the company in recent years, the shareholders have decided to devolve a part of the profits (approx 500mila euros) to initiatives in support of ethical finance and the sustainable economy.
In particular, projects relating to education in ethical finance and popular savings, research and development of ethical finance and the promotion of economic activities with high social or environmental value will be financed. By the end of the year, the company will define the methods and times for selecting eligible projects.
The good performance of funding in 2016 made it possible to increase the assets of the fund dedicated to microfinance and crowdfunding projects in Italy. This fund, managed by Banca Etica and fed through the optional contribution of the subscribers of the Valori Responsabili funds (0,1% of the invested capital), made it possible last year to disburse 88 loans (microcredits) during 2016, 27% of which he has started new entrepreneurial initiatives.
The portion allocated to crowdfunding contributed to the economic support of 11 initiatives with a high social and environmental impact promoted by Banca Etica. In this way it was possible to support projects focused on the development of urban regeneration paths and the protection of common goods. Details of the funded projects are available on the website www.eticasgr.it.
