Co-operative bank best in 2022 SFI catalyst awards

Business & Finance Counties Editor's Pick Nairobi

Co-operative bank has been announced as the best bank overall winner in Kenya in the Sustainable Finance Initiative (SFI) Catalyst Awards 2022 hosted by Kenya Bankers Association (KBA).

In the awards ceremony held Wednesday in Nairobi, Equity Bank took the second position with KWFT Bank taking the third place.

Co-operative bank also led as the most innovative bank and best in financing a Commercial client in Kenya.

In other categories awarded, Equity Bank got first place as the best bank in financing Small and Medium Enterprises and best bank response to Covid 19 pandemic.

Standard Chartered bank was awarded best in banking operations while Kenya Women Microfinance Bank (KWFT) was awarded the best bank in promoting gender inclusivity.

Speaking during the Awards ceremony, KBA Chief Executive Officer Dr. Habil Olaka stated that the SFI catalyst award signifies that the banking sector is putting measures and identifying clear performance indicators that will encourage banks and wider financial services sector players to embed sustainable finance practice in their business models.

“This Year, KBA is proud to post its fourth Catalyst awards and is honored to achieve 43 entries from progressive institutions that are seeking to display their leadership in integrative sustainability practices, in their lending and business operations,” said Olaka.

Also in attendance were the UN Global Compact Network Kenya Chairperson and MD of Sasini Plc Martin Ochieng explained that SFI guidelines which the awards have been anchored on, incorporate ethical practices that are reinforced by corporate values, with the tone set from the board level.

“SFI guideline principles mirror the UN Global Compact Principles which call for good corporate governance with businesses working against all forms of corruption, “he said.

Ochieng pointed out that 46 KBA members signed up to the UN Global Compact and are doing right by the environment, labour, human rights and anti-corruption to drive competitive advantage and commercial success for business.

“Among the KBA members that are doing well are Absa Bank Kenya, Diamond Trust, Equity bank, Family bank, KCB Bank Group, Kenya Women Microfinance Bank, National Bank of Kenya, Standard Chartered bank, Victoria Commercial bank and Gulf bank,” said Ochieng.

He congratulated KBA for actively bolstering meaningful progress in the banking industry by encouraging financers to integrate in their decision-making process, a forward-looking orientation while financing commercial activities.

By Rita Muthoni

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