Union Bank of Nigeria, a financial services provider, has published its Sustainability and Innovation (CSI) report, which details the bank’s activities in three key areas: Citizenship, Sustainability, and Innovation.
The report’s seventh edition, titled ‘Driving Inclusive Growth; Impacting Lives, Enabling Success,’ presents a comprehensive picture of Union Bank’s continuous commitment to promoting a sustainable future.
It documents the bank’s commitment to implementing responsible business practices and making a positive difference in the lives of individuals and communities, and it provides an in-depth examination of the bank’s activities for the fiscal year in review, shedding light on its strategies, performance, and processes in the implementation of various projects and initiatives.
Union Bank concentrated its efforts on five of the United Nations’ Sustainable Development Goals (SDGs) in line with its overarching theme for the year. Quality Education (SDG 4), Gender Equality (SDG 5), Affordable and Clean Energy (SDG 7), Climate Action (SDG 13), and Goal Partnership (SDG 17) are among them.
These objectives acted as a roadmap, directing the bank’s commitment to positively improving the lives of its stakeholders and society. Mudassir Amray, Chief Executive Officer of Union Bank, spoke about the 2022 CSI study and emphasized the bank’s commitment to driving inclusive growth.
He emphasized critical alliances that aided in this achievement. “We firmly believe that small businesses are the engine house of economic growth,” he stated. This is why we signed a $30 million collaboration deal with the International Finance Corporation (IFC), the world’s largest development organization focusing on the private sector in emerging nations.”
“This partnership aims to enhance access to finance for small businesses in Nigeria, supporting increased trade and enabling us to expand lending to businesses in critical sectors, including food, healthcare, manufacturing, and services.”
Amray also emphasized the bank’s efforts to promote financial inclusion. He stated: “We are also particularly proud of our financial inclusion initiatives, such as our partnership with Wacot Rice Limited, which enabled us to reach around 7,000 farmers across five Local Government Areas in Kebbi State.”
“Furthermore, our unwavering commitment to gender equality in lending was evident as we disbursed over 17 billion naira in loans to nearly 16,000 women in 2022.”
“Our vision remains resolute in building a more robust and expansive bank, underpinned by a digital-centric strategy and elevated governance standards geared toward fostering sustainable growth and contributing to Nigerian society.”
Union Bank’s Chief Brand and Marketing Officer Olufunmilola Aluko also spoke about the research, emphasizing the bank’s collaborative approach to sustainability and corporate responsibility.
She said: “Throughout the year, Union Bank has actively collaborated with partners to enhance our performance, particularly on our material issues. We aim to sustain this momentum by building on partnerships with peers and across industries to support our customers, communities, and society.”
