Stewardship

Materiality

A disciplined approach to corporate planning ensures that material matters are identified through critical evaluation of the Bank’s value creation processes and the issues identified through our stakeholder engagement processes. Issues are prioritised and matters for inclusion in this Report were determined with reference to their materiality as depicted in the following grid (Figure 3).

How We Determine Materiality

Figure - 3

The process continues to evolve as we seek to increasingly adapt to a leaner style of reporting and communication. This year, we have framed the issues in our terminology and then mapped them to the aspects of the GRI G4 guidelines. Consequently, there are issues that are not included in the GRI G4 Guidelines, which we have included as material topics. Reconciliation of material topics to aspects identified in the GRI G4 Guidelines and UNGC principles is given on Figure 5 below. We also considered the mega trends impacting businesses globally and locally to understand both the opportunities and risks they present to the Bank and these have been mapped around the material issues to complete the picture.

The GRI content index and the boundaries for material aspects are detailed on GRI Content Index and About the Report sections, respectively.

Material Issues 2015

Figure – 4

Good governance and risk management are the bedrock of our strategy and the commonality across all our strategic business units. We are committed to adopting the best practices in these evolving areas to secure the sustainability of our business and safeguard our reputation.

Our plans for growth are prudent, based on principles of sustainable growth, whether it is venturing in to new markets or in realising higher penetration levels in existing markets. Our lending and investment products are developed and marketed in a responsible manner to support financial needs for our customers for their socio-economic progress and our strategies for growth reflect this philosophy.

Reconciliation of Material Aspects to GRI Performance Indicators and UNGC Principles

Figure - 5

Recognising that with great power comes great responsibility, we are committed to conducting business in an ethical manner, beyond mere compliance with regulatory requirements. Additionally, our branches are firmly interwoven in to the socio-economic fabric of geographic regions in which they operate and we are committed to supporting their growth beyond business boundaries. Supporting empowerment of livelihoods and education, we hope to inspire the new generation of youth in reaching their full potential by providing forums for developing their skills.

In a service organisation, it is people who drive the organisation to new heights. We have a winning team who functions in a conducive environment, that has aligned their aspirations with those of the organisation. Indeed, the organisation’s strategies for growth rely on the motivation, innovation, hard work and commitment of our people, whom we seek to develop to increase our capacity for creating value.

Operational excellence is necessary to optimise our capacity to create value for our stakeholders forming the fourth pillar of our strategy. Eliminating waste and streamlining operations will ensure that costs of services are curtailed and processes made more robust and efficient.

The mega trends identified globally such as population growth, urbanisation, etc.as depicted on Figure 4 will shape our industry and that of many other industries in the coming years and we monitor these to understand the changing expectations of stakeholders and the opportunities and risks it represents to the organisation.