By Cynthia Ezekwe.
Union Bank of Nigeria, a commercial banking company, has unveiled its 2022 Citizenship, Sustainability, and Innovation (CSI) report, outlining the bank’s dedication to responsible Sustainable business practices, and innovation.
The 7th edition of the report, titled: ‘Driving Inclusive Growth; Impacting Lives, Enabling Success,’ provides an extensive overview of Union Bank’s ongoing commitment to fostering a sustainable future.
The report chronicles Union Bank’s unwavering commitment to a sustainable future and its profound impact on individuals and communities.
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Union Bank’s 2022 CSI report aligns with the United Nations’ Sustainable Development Goals and the Global Reporting Initiative (GRI) standard, highlighting the bank’s dedication to transparency and accountability in reporting on its projects.
The report showcases Union Bank’s commitment to driving inclusive growth through five of the United Nations’ Sustainable Development Goals (SDGs). These include Quality Education (SDG 4), Gender Equality (SDG 5), Affordable and Clean Energy (SDG 7), Climate Action (SDG 13), and Partnership to Achieve Goals (SDG 17).
Speaking on the report, Union Bank’s CEO, Mudassir Amray, emphasised the institution’s dedication to fostering inclusive growth, saying, “We firmly believe that small businesses are the engine house of economic growth. This is why we entered a $30 million partnership agreement with the International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets.”
“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 added.
The CEO also highlighted the bank’s commitment to gender equality in lending, noting that its unwavering commitment to gender equality in lending was evident as it disbursed over 17 billion naira in loans to nearly 16,000 women in 2022.
Olufunmilola Aluko, Union Bank’s chief brand and marketing Officer, underscored the bank’s collaborative approach to sustainability and corporate responsibility.
She commented, “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.”