Bank Albilad - Annual report

Sustainability Sustainability Sustainability Sustainability

Bank Albilad maintains a comprehensive ESG Framework that guides its sustainability initiatives and strategies.

The Framework focuses on the ESG issues relevant to the Bank and its stakeholders. It is based on six key pillars and aligns sustainability priorities and commitments with the Bank’s mission, values and operations.

The Framework is regularly reviewed and enhanced to ensure its continued relevance.

Sustainability
Framework

In order to define what’ sustainability means for Bank Albilad, as well as guide and focus our ESG efforts, we developed an ESG framework (‘Framework’), which thematically groups the material ESG issues we previously identified under one of six key sustainability pillars.

Transparent, Effective
and Responsible
Governance

Business ethics and compliance.
Corporate Governance.
Risk management and business continuity.
Anuti - money laundering and corruption.

Contributing the communities

Comunity investment and impact.
Human rights.
Supply chain management.

Acting on the environmental footprint

Climate change management. risks and opportunities.
Managing environmental imapcts.

Sustainable
banking practices

Sustainable financial products.
Financial inclusion and education.
Financial performance.

Innovating for a dynamic business structure

Customer experience
Digitization
Customer privacy

Empowering
employees

Talent development, attraction and retention.
Employee engagement and wellbeing.
Diversity and equality.
Localization.

Material ESG Issues

Bank Albilad has conducted a materiality assessment to identify and understand the ESG considerations that are most important to the Bank and its stakeholders.

This assessment involved a comprehensive review of reputable sustainability standards, including those published by the GRI, SASB, and the Principles for Responsible Investment (PRI). It also included consideration of:

ESG issues specific

to the banking industry, as identified by various ESG rating agencies.

ESG reports published

by local and international peers.

Objectives of relevant

national and international sustainability-related ambitions, including Saudi’s Vision 2030 and the United Nations Sustainable Development Goals (SDGs).

Stakeholder interests

and perspectives.

Materiality
Assessments

The results of the materiality assessment are presented below, where we have identified and prioritized 19 material ESG issues. Please note, for issues not categorized as ‘Most Important’, this does not mean they are unimportant or are not being addressed by Bank Albilad.