Californian 'green' bank launched
14 November 2006
A new California bank that specializes in environmentally friendly investments looks set to further develop the 'green banking' niche, according to reports.
New Resource Bank, which had its official launch at its San Francisco headquarters this week, says that it will help finance companies and entrepreneurs intending to develop green products and services and operate in an environmentally-friendly way.

The bank was founded by Peter Liu, a former senior banker with Credit Suisse, who says that the green business sector is expanding, providing an attractive investment opportunity.

"Organics, green energy, green buildings, are sectors that have been growing much more rapidly than the rest of the economy," Mr Liu told the Contra Costa Times.

The bank has proved an initial success with investors, with nearly $25 million reportedly raised from a total of 240 investors, with the initial drive to raise the capital oversubscribed.

New Resource Bank also appears to be leading by example, with its headquarters designed to adhere to green building standards.