Panagiotis Tournavitis elected president of FEBEA

Panagiotis Tournavitis, CEO of the Cooperative Bank of Karditsa, has been elected as the new president of the European Federation of Ethical and Alternative Banks and Financiers (FEBEA). His three-year term was confirmed during the organization's General Assembly, which recently concluded in Venice. This marks the first time a Greek banker has led the European federation.

FEBEA, founded in Brussels in 2001, serves as the primary European body representing institutions that prioritize social, local economic, and environmental impact alongside financial performance. The federation currently encompasses over 30 members from nearly 20 countries, including banks, cooperatives, foundations, and microfinance organizations. Collectively, these institutions operate within a financial sector boasting total assets of approximately 79 billion euros.

The election underscores the growing significance of the ethical banking sector, which focuses on directing capital toward projects with measurable societal benefits. By integrating social impact metrics into their financing models, these institutions distinguish themselves from traditional banking practices. Under the leadership of Tournavitis, FEBEA is expected to continue its efforts to promote and unify these alternative financial models across the European Union.