Alex Bank Sustainability Report 2018
DCarbon team, leading the process of Sustainable Transition in Egypt, is thrilled to publish the ALEXBANK 1st Assured Sustainability Report in accordance with the Global Reporting Initiative (GRI) Standards.
The Bank is part of the Intesa Sanpaolo Group, one of the globally top performing banks in sustainability with well-defined social objectives.
In 2018, ALEXBANK has welcomed the introduction of the Group’s four-year Business Plan (2018-2021) and has become one of Egypt’s Leading Private Banks in mirroring its CSR & Sustainable Development to the Corporate Strategy through lending activities with the highest levels of social cohesion and conscious environmental practices.
In alignment with Egypt Vision 2030, the bank’s activities in Micro-financing, SMEs Lending, Financial Inclusion, Financial Literacy are landmarks of ALEXBANK’s contribution to Egyptian Economy, Women Empowerment and Heritage Preservation through National Cultural Crafts, leading to international recognition and awarded “Best Bank for Corporate Social Responsibility in the Middle East” by EUROMONEY, one of the most prominent international magazines in assessing the performance of financial institutions worldwide
From 2016 through 2018, the bank has tripled its beneficiaries (to 30,000) and Partner Organizations (to 36) with a volume of EGP 22 Million in CSR Programs in 2018.
“Ebda3 men Masr” , the bank’s flagship CSR initiative, has supported more than 5,000 artisans across all Egyptian governorates to date, with 90% are women, and 60% are youth. The initiative leveraged on more than 25 partnerships including the Egyptian Ministry of Social Solidarity, Fair Trade Egypt, the Egypt Network for Integrated Development (ENID), Yadaweya and Tunis Village in Fayoum.
Through ALEXBANK core lending activities, it addressed the needs of the rural communities, tailored for agricultural, commercial and manufacturing activities. Its microfinance product ( Tamkeen) supported 249,284 customers in the commercial and crafting sectors such as plumbing, welding and sewing; with a portfolio totaling to EGP 2,463,389,200.
The bank’s efforts is equally growing towards “Sustainable Energy Finance” and “Green Economy Financing”. In 2018, it has signed a senior unsecured term loan agreement amounting to the equivalent of EUR 20 million (i.e. USD 25 million) from the European Investment Bank (EIB) with the aim of financing projects by SMEs and Mid-Cap enterprises.
This step capitalizes on ALEXBANK Responsible Management of Savings and its incorporation of Environmental, Social and Governance (ESG) criteria into its investment lines.
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