Public bank

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A public bank is a bank, a financial institution, in which a state or public actors are the owners. It is a company under state control.[1]

Public or 'state-owned' banks proliferated globally in the late 19th and early 20th centuries as vital agents of industrialisation in capitalist and socialist countries alike; as late as 2012, state banks still owned and controlled up to 25 per cent of total global banking assets.[2]

The 2015 Addis Ababa Financing for Development Action Agenda noted that public banks should have an important role in achieving the new Sustainable Development Goals. Increasingly, major international financial institutions are recognising the positive and catalytic role public banks can serve in the coming low carbon climate resilient transition. Further, international NGOs and critical scholars argue that public banks can play a significant role in financing a just and equitable energy transition.[3]

Public banks by Country

Argentina

Australia

Brazil

Chile

France

Germany

Iceland

Italy

Malaysia

Norway

Portugal

Russia

Spain

U.S.

References

  1. ^ Banque publique : une entreprise bancaire qui dépend de l’État - ComprendreChoisir.com
  2. ^ Marois, Thomas (2016). "State-Owned Banks and Development: Dispelling Mainstream Myths". Handbook of Research on Comparative Economic Development Perspectives on Europe and the MENA Region: 52–72. 
  3. ^ Marois, Thomas (15 November 2017). "How Public Banks Can Help Finance a Green and Just Energy Transformation". Transnational Institute. 

External links

  • Public Banking Institute, USA
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