13/8/2017 12:00 AM
In line with its sustainable development strategy and its leadership in creating a model to follow, the Commercial International Bank-Egypt (CIB) has been ranked first in the Sustainability Index of the Egyptian Stock Exchange (EGX) for the fourth year in a row since 2014.
The EGX launched the sustainability index S&P/EGX ESG in cooperation with Standard and Poor’s (S&P) and the Egyptian Institute of Directors (EloD) in March 2010. This index encourages entities to be transparent and disclose their governance, social and environmental practices clearly to benefit their means and increase their market value. The ESG Index targets investors who entrust their funds into companies promoting sustainable environmental development and responsibility.
CIB-Egypt has succeeded over the years to maintain its leadership over this index, which is the result of the Bank’s operations that are based on its Corporate Social Responsibility and derived from CIB’s firm commitment towards the environment and the Egyptian society.
It’s worth mentioning that CIB-Egypt maintains a Sustainable Development vision to uphold its distinct reputation through its commitment to inclusive, responsible, and sustainable growth across its various projects. The Bank has dedicated a specialized unit since 2013 to abide to, study, and improve the ways to integrate sustainability in banking operations and encourage staff participation in the social and environmental practices, as well as the implementation of the sustainability principles across the Bank's branches and headquarters in Egypt.
The only Egyptian bank in the Financial Times Stock Exchange for the second consecutive year
On the international sphere, CIB-Egypt evidences its leadership, a grieving different recognitions from many international, reputable organizations, which not only adds to the Bank’s outstanding record of achievements, but also is an international testimony of the high potentials of the Egyptian economy, and strengthens Egypt’s position internationally. The Bank has been recognized by the Financial Times Stock Exchange (FTSE) and was included as a constituent in their internationally recognized initiative 'FTSE4Good Index’. The index is designed to measure and rate the performance of companies demonstrating Environmental, Social, Governance (ESG) practices.
For the second consecutive year, CIB-Egypt is the only Egyptian bank listed on this renowned international index.