CIB official to CSR Forum: No growth without sustainability

10 / 03 / 2022

By Marwa Nassar - -

Soha Abu Zikri, Head of Global Customer Relations of the Commercial International Bank (CIB), said there is no growth without being sustainable, so it has been very hard for bankers to shift from the traditional assessment model to something that is not quite measurable through embedding the Environmental, Social, and Corporate Governance (ESG) in the system and assess the long-term return, including return of profits and sales.

Under the tradition model, the bank can assess the risks, sales and return on equity, she expounded during the 12th Corporate Social Responsibility (CSR) and Sustainable Development (12th CSR Forum) which opened on Thursday in the Upper Egypt governorate of Luxor .

“We have first as bankers to be educated about the benefits of sustainability, and then we have a role to educate our clients and be able to convince them in different sectors about the benefits that could be yielded if they incorporate the ESG,” she said, underlining that the transition into the new model need to be educated.

She noted that the CIB as leading private sector bank has always been known for its innovation and introduction of new products. In 2015, it has introduced the sustainability department.

Over the past six years, the bank has periodically released its sustainability reports and it has been at the forefront for introducing green bonds, she said, concluding that “With every challenge there is an opportunity.”