Credit crunch boosts investment in social banks

By David Ainsworth, Third Sector, 6 August 2008

Social banks should benefit from the credit crunch by using their "bullet-proof balance sheets" to attract new depositors, a charity finance expert has said.

Richard Maitland, head of charities at investment house Sarasin & Partners, said ethically responsible banks that had not borrowed money to lend to others or suffered any losses from bad investments, were in much better shape than commercial high-street lenders. "The major social banks lend out relatively little of their...