The winner of the 2022 Sustainable Finance Initiative Catalyst Award is the Co-operative Bank of Kenya, followed by Equity Bank in second place and Kenya Women Microfinance Bank (KWFT) in third.
The Kenya Bankers Association (KBA) created the Sustainable Finance Initiative (SFI) award in 2016 to honour banks that use catalytic finance to improve the banking sector, the national economy, and society.
The International Union for Conservation of Nature (IUCN) provided financing for the prize, which sought to recognise banks that had incorporated the sustainable finance industry’s guiding principles into their core business practices and lending policies.
Most Innovative Bank
The Most Innovative Bank category, which recognised banks for using technology to target underserved and marginalised consumer groups and the impact of technology on how they provide customer service, was won by Co-operative Bank.The second place went to Standard Chartered Bank, and position three went to Equity Bank.
Financing Commercial Clients
The lender also won first place in the area that evaluated bank activity in Financing Commercial Clients, with ABC Bank coming in second and Equity Bank of Kenya coming in third.
This category acknowledged banks for financing commercial clients’ company operations, initiatives, or investments in a way that provided long-term value for the client, leading to growth, efficiency, innovation, and market expansion.
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