The Commercial International Bank (CIB), Egypt’s largest private sector bank, is celebrating four years as one of the Founding Signatory Banks of the Principles for Responsible Banking (PRB), and later a member of its PRB Advisory Board, representing MENA and Africa. Over the years, the PRB has witnessed widespread support from investors, customers, and employees across the financial community deeming it the golden standards for sustainable finance Through six distinctive principles, the framework seeks to provide financial institutions with the guidance to integrate sustainable practices and reduce their environmental and social impact. CIB has since reported in alignment with the framework for three years in a row.

CIB was able to identify Climate and Financial Inclusion as the most pressing matters based on its portfolio composition, national direction and global focus. Accordingly, CIB’s relevant lines of business, departments and functions have already begun working together to address those impacts and managed to set targets towards achieving sustainable growth in those areas.

CIB’s CEO and Managing Director Mr. Hussein Abaza shared “since becoming a Founding Signatory of the Principles for Responsible Banking in 2019, the framework has provided CIB with guidance to accelerate our system transformation, enhance our reporting practices and identify our impact areas on the environment and society.”

Dr. Dalia Abdel Kader, CIB’s Chief Sustainability Officer, also highlighted the key role of the initiative in driving the sustainable growth of financial institutions. She shared, “More than ever, there is an urgent need for regional banks to come together towards a unified goal, to reduce their impact on the environment and society, and ultimately, sustain their growth. The principles have supported CIB on its trajectory towards a more climate resilient business model, to transparently report on our progress within the climate space and instigate an inclusive mode of sustainable development in the region.”

We will continue to align our operational goals with the framework’s core objective: to grow, while securing the environmental and social needs of future generations.