IB Nominated for “Emerging Markets Sustainable Bank of the Year

2010”

The Industrial Bank was recently nominated for the “Emerging Markets Sustainable Bank of the Year” award in the “2010 FT Sustainable Banking Awards”. The Sustainable Banking Awards are held by the Financial Times in collaboration with the IFC.

The awards recognize financial institutions around the world that have shown leadership and innovation in integrating social, environmental, and corporate governance considerations into their operations. There are five awards categories in this year’s event, namely: Sustainable Bank of the Year, Emerging Markets Sustainable Bank of the Year, Achievement in Basic Needs Financing, Achievement in Banking at the Base of the Pyramid and Sustainable Investor of the Year. The other two institutions from Asia that were short listed for the “Emerging Markets Sustainable Bank of the Year” were the BRAC Bank (Bangladesh) and the YES Bank (India).

The Industrial Bank has been recognized by renowned organizations in China and overseas for its efforts in incorporating the notion of sustainable development into its philosophy of corporate governance and development strategies, implementing rational approaches to development and fulfilling its social responsibilities through a series of effective and comprehensive measures to achieve sustainable development. On June 4, 2009, IB was short listed for the “Sustainable Bank of the Year” and “Asian Sustainable Bank of the Year” awards in the “2009 Sustainable Banking Awards”, and was ultimately named the “Asian Sustainable Bank of the Year”. With this, IB became the first bank in China to receive this accolade as well as the only financial institution in China to have been short listed for “Sustainable Banking Awards” for three consecutive years and to have won on two occasions.

According to data published by the Financial Times, a total of three commercial banks from China have applied for participation in the “2010 FT Sustainable Banking Awards”. The Industrial Bank was the only one of the three to receive a nomination.

 

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