Pax-Bank

Pax-Bank eG
Cooperative
Industry Universal bank
Founded 1917
Headquarters Cologne
Website www.pax-bank.de

The Pax-Bank eG headquartered in Cologne is, as "Bank für Kirche und Caritas" (Bank for the Church and Caritas), a cooperative catholic universal bank. Its members consist of institutions of the Catholic Church and private individuals from the clerical field. The bank was founded as self-help organization by and for priests in 1917 in Cologne.

Together with the "Bank für Kirche und Caritas eG" Paderborn, the "DKM Darlehenskasse Münster" and the "Bank im Bistum Essen" it is one of the four catholic banks in North Rhine-Westphalia. Its clientele mainly consists of bishoprics, religious orders, church congregations and their social services. Private customers are also an important pillar of the bank.

190 members of staff at the Cologne headquarter as well as branches in Aachen (since 1958), Berlin (since 1992), Erfurt (since 1992), Essen (since 1958), Mainz (since 1985) and Trier (since 1980) are looking after approximately 30,000 customers (private/institutions). Since 2001 the bank runs a representative office in Rome in close proximity to the Vatican.

Apart from the universal bank services the main business field of the bank is in the area of ethical investments (e.g. microfinance investments) and investment management. The banks services also include a distinct funds palette (LIGA-Pay-Union-Funds), real estate consultation, EU-development funds, fundraising and foundation consultation.

According to the banks self-concept ethics and Sustainability have special meaning to the bank. Inward and outward actions of the bank are subject to a code of ethics, which determines the economic actions between the poles of ethics and pursuit of profit.[1]

The Pax-Bank is the first church bank in Germany that offers a crowdfunding platform.[2] Charitable and public Institutions and providers can present and circulate their project ideas on the platform and thereby generate the needed funds.

In August 2009 it was made public that in one of the banks non-ethical investment funds there were shares of a defense contractor, of a tobacco company and of a pharmaceutics manufacturer, which also produces contraceptives.[3][4][5] Immediately after this became public the corporate management divested the affected papers. In addition, the control mechanisms were refined and the ethical alignment of all funds was checked.[6] As subsidiary "PBA Uerlichs + Finger Versicherungsvermittlungs-GmbH" offers Pax-Bank customers individual insurance products.

Pax-Bank-Preis

Since 2005 the bank annually awards the "Pax-Bank-Preis" (Pax-Bank-Award) for Interfaith dialogue and receives consulting for it by the "Georges-Anawati-Stiftung" (Georges-Anawati-Foundation). The 5,000€ price is presented by the chief executive.

In 2017 the former German Federal President Christian Wulff was honored for his dedication and contribution to the intercultural-religious dialog.[7]

References

  1. ↑ "Unser Verständnis". Pax-Bank eG. Retrieved 17 April 2018.
  2. ↑ "Crowdfunding - So funktioniert's". Pax-Bank eG. Retrieved 17 April 2018.
  3. ↑ "Katholische Pax-Bank bedauert Invest-Fehler". ÄrzteZeitung. 3 August 2009. Retrieved 17 April 2018.
  4. ↑ "Katholische Bank investiert in Verhütungsmittel-Hersteller". SPIEGEL ONLINE. 1 August 2009. Retrieved 17 April 2018.
  5. ↑ "Pax-Bank: Katholische Bank investiert - in Verhütung". stern. 1 August 2009. Retrieved 17 April 2018.
  6. ↑ ""Wenn Ethik versprochen wird, muss Ethik drin sein"". DOMRADIO. 4 August 2009. Retrieved 17 April 2018.
  7. ↑ "Für Mut in der Integrationsdebatte". DOMRADIO. 28 September 2017. Retrieved 17 April 2018.
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