Brac Bank, City Bank, IDLC Finance leads the sustainability rating

Brac Bank, City Bank and IDLC Finance leads the sustainability ratings

Bangladesh Bank rates top banks with sustainability ratings

Brac Bank, The City Bank, and IDLC Finance Ltd have once again secured the top positions in the central bank’s 2022 Sustainability Rating, maintaining their leadership for three consecutive years.

The recent announcement revealed a list of noteworthy banks and non-bank financial institutions recognized for their commitment to sustainability. 

Alongside the consistent leaders, Jamuna Bank, Prime Bank, Shahjalal Islami Bank Limited, Trust Bank, and United Commercial Bank are also featured on the esteemed list. 

Agrani SME Financing Company and Bangladesh Finance have secured their positions in the sustainability ranking under the non-bank financial institution category for two successive years. Notably, Lankan Alliance Finance debuts on the list in the same category, making its inaugural appearance since the rating’s initiation in 2020.

The sustainability ratings are gauged through various indicators encompassing the financial institutions’ sustainable performance. This incorporates metrics like green finance, prioritization of sustainable agriculture and cottage industries, and support for micro, small, and medium enterprises. 

The evaluation includes the accessibility of sustainable financial services for women, internal execution of green banking initiatives, compliance with environmental and social risk management standards, and engagement in green investments.

The central bank’s rating assessment takes into account the active involvement of the board of directors in addressing sustainable finance matters promptly. Moreover, the rating process acknowledges the efforts in enhancing organizational capacity related to sustainability matters, along with transparent disclosure of sustainable finance initiatives.

The continued prominence of Brac Bank, The City Bank, and IDLC Finance Ltd in the sustainability ranking underscores their unwavering dedication to promoting sustainable financial practices. The featured banks and non-bank financial institutions exemplify responsible financial conduct and advocate for a greener, more inclusive financial landscape.

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