Co-op Bank win 2021 Sustainable Finance Initiative Awards
The Co-operative Bank of Kenya has won the titleholder of the 2021 Sustainable Finance Initiative Catalyst Award.
The lender also took first place in the category that assessed bank activities in Financing Commercial Clients followed by ABC Bank in second place and Equity Bank of Kenya in third place.
Standard Chartered Bank clinched position two followed by Equity Bank at the third position.
Speaking during the award, Kenya Bankers Association (KBA) Chief Executive Officer Habil Olaka commended the winners as they rubber-stamped the strides the industry is taking to ensure they carry out their investment activities responsibly in line with international best practices.
“Through entrenching sustainable finance practices directly into the bank’s core day-to-day operations, we can fundamentally contribute to the fight against climate change, social exclusion, and economic inequality in the country,” said Olaka.
Additionally, the bank led in the category of the Most Innovative Bank, a category that acknowledged banks for their utilization of technology to reach the untapped and marginalised market segments as well as the effect of technology in their service delivery to their customers.
Equity Bank Kenya scooped position one in the category of Best Bank in Financing Small and Medium-sized Enterprises, followed by Sidian Bank and Co-operative Bank of Kenya which emerged second and third respectively.
The Sustainable Finance Initiative (SFI) award launched in 2016 by the Kenya Bankers Association seeks to recognize banks that practice catalytic finance that impacts the banking industry, the country’s economy, and the society at large.
The award sought to honour banks that had embedded the industry’s sustainable finance guiding principles in their fundamental operations as well as lending practices.
