BB rates Brac Bank as one of top 10 sustainable banks

Brac Bank has been named one of the top 10 sustainable banks of Bangladesh based on its performance during the pandemic last year. 

Bangladesh Bank’s Sustainable Finance Department (SFD) prepared a list of top 10 sustainable banks and five non-bank financial institutions (NBFIs) based on their performances and published their names on its website based on a rating, said a press release.

This is the first time Bangladesh Bank published such a rating. “It is indeed an honour that we made it to the country’s top 10 sustainable banks list. It has been possible because of the constant support of our regulator, board, and management in promoting the sustainability agenda in our organisation,” said Selim RF Hussain, managing director and CEO of Brac Bank.

“The key to becoming sustainable is to ensure that a bank strategically contributes to green and sustainable financing, on top of its CSR programmes. 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.

“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,” Hussain said.