BRAC Bank, the pioneer of SME Banking in Bangladesh, has earned a place among the top 10 sustainable banks based on their performance in the year 2020.
The Sustainable Finance Department of Bangladesh Bank published the top-ten sustainable banks’ list and top-five NBFIs on its website, based on a rating.
It is the first time that Bangladesh Bank has published such a rating, a press release said Saturday.
Selim RF Hussain, the Managing Director and CEO of BRAC Bank, said, “It is indeed an honor that we made it to the country’s top ten sustainable banks list. It has been possible because of the constant support of our regulator, board, and management in promoting sustainability agenda in our organization”.
“The key to becoming sustainable is to ensure that a bank strategically contributes to green and sustainable financing, on top of its CSR programs. Apart from that, transparency has to be ensured by flawless submission of regulatory reporting, effective environmental and social management system for risk mitigation, and appropriate implementation of regulatory directives throughout the year”, he added.
BRAC Bank has a well-defined policy and governance structure with a dedicated sustainable finance unit to oversee its sustainability. With the highest credit rating among private commercial banks in Bangladesh from the world’s top rating agencies, BRAC Bank has also been recognized several times for its good governance.
Hussain also said, “We shall continue to explore and expand our avenues in Green Climate Fund, bankable climate adaptation projects, Green Bonds, and the bank’s contribution to SDGs in the future. Our diversified business model has laid a strong foundation for BRAC Bank to become the number one sustainable bank in the country”.
