Fiare Banca Etica is a cooperative banking entity based in Bilbao, Spain, operating under the umbrella of Banca Popolare Etica, an Italian cooperative founded in 1999. The roots of Fiare trace back to 2003, when various Basque social groups established the Fundación Fiare to promote ethical banking in Spain. In 2005, Fiare began its collaboration with Banca Popolare Etica, leading to its role as a financial intermediary in the Spanish market. By 2014, after a decade-long process, Fiare Banca Etica secured its banking license from the Bank of Spain and opened its first office in Bilbao, marking its formal launch as a Spanish entity.
Fiare Banca Etica’s structure is cooperative, counting 3,792 members in Spain as of its ten-year anniversary in 2024. The bank operates branches in Bilbao, Madrid, Barcelona, and Sevilla. It is known for prioritizing funding to sectors with social or environmental impact. Over 50% of its credit portfolio is dedicated to social initiatives, with other focus areas including culture, education, organic or local production, and cooperative housing. In total, it has financed more than €116 million in projects in Spain.
Notably, Fiare Banca Etica stresses transparency and stakeholder participation; each loan to legal entities is published online. In 2024, the bank celebrated a decade of operations with a documentary highlighting its history and collaborations with key Spanish and European social economy organizations.