Environmental, ecological, democratic bank fails

German regulator forces closure of noa bank

FRANKFURT, Aug 18 (Reuters) - German regulator Bafin closed noa bank GmbH & Co, a tiny Frankfurt-based retail lender focused on ethical and ecological banking, adding the bank was not systemically relevant.

Jozic founded Noa Bank in November 2009 to give clients a say in where their money was being used to enforce "financial democracy."