Bank of Bahrain and Kuwait (BBK) has announced its significant strides in sustainability, as highlighted in its 2023 Sustainability Report.

The report showcases the bank’s contributions to environmental, social, and governance (ESG) practices, aligning with global sustainability goals.

In 2023, BBK established a specialised task force on climate change risks, underscoring its commitment to green finance initiatives. The bank also strengthened its board independence and gender diversity, with women now holding 31.8 per cent of board seats.

BBK Group chief executive Yaser Alsharifi emphasised the bank’s dedication to sustainability, stating: “We have strategically aligned our priorities with the United Nations Sustainable Development Goals and strive to fulfil Bahrain’s Vision 2030.”

The bank’s efforts have resulted in notable achievements, including a 19pc reduction in paper consumption, a 95.54pc Bahraini workforce, and a 24pc representation of women in senior executive management.

BBK also demonstrated its commitment to social responsibility through community partnerships and volunteer initiatives. The bank’s Net Promoter Score increased to 75 in 2023, reflecting improved customer satisfaction.

BBK Group chief human resources and administration officer Hassaan Burshaid highlighted the bank’s belief in “meaningful social and economic development” through responsible corporate practices.

In addition to its sustainability initiatives, BBK launched several programmes to enhance its digital capabilities and improve accessibility for customers. The bank’s efforts have contributed to a significant shift in customer transaction processing, with 82pc now conducted through e-channels.

BBK’s 2023 Sustainability Report demonstrates its unwavering commitment to ESG practices and its role in driving sustainable development in Bahrain.

In 2023, BBK saw a notable improvement in customer satisfaction levels, with the Net Promoter Score (NPS) increasing from 67 in 2022 to 75. This growth reflects heightened customer loyalty and satisfaction with the bank’s services.

BBK also supported local suppliers by allocating 81pc of its budget to bolster the national economy. The bank also maintained its dedication to community partnership initiatives, investing 3pc of its pre-tax profits in community development. In 2023, BBK employees contributed a total of 116 volunteer hours to various social causes.

In 2023, the bank experienced a significant shift in customer transaction processing, with 82pc of transactions conducted through e-channels and mobile apps, up from 77pc in 2022. Additionally, the bank introduced sustainability-related loans, offering customers preferential interest rates.

Furthermore, BBK also launched several pioneering programmes and initiatives to enhance its sustainability efforts and demonstrate its commitment to ESG considerations. These initiatives include the Digital Academy Digi Pro, which aims to enhance the digital capabilities of its employees, and a strategic partnership with ‘Nasmaakum’ application to improve communication for individuals with hearing and speech disabilities, and the launch of the BBK Business platform to facilitate the digital transformation of companies.

The bank reduced its environmental impact as well by decreasing paper consumption by 19pc and introduced the ‘Grow’ programme to develop the skills of university graduates in banking.

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