BRAC Bank honoured by Bloomberg, BB in ESG and sustainability ratings

BRAC Bank PLC has been recognised by Bloomberg as the best bank among all Bangladeshi organisations in the "ESG Rating 2024" for the third consecutive year.

Simultaneously, Bangladesh Bank has named BRAC Bank one of the country's top sustainable banks for the fifth consecutive year in its "Sustainability Rating 2024", according to a press release.

Bloomberg ranked BRAC Bank at the very top with an overall score of 3.8, comprising Environmental (1.76), Social (5.83), and Governance (3.07). This placed the bank ahead of IDLC Finance (3.51) and City Bank (2.64), outperforming even multinational firms operating in Bangladesh.

The recognition reflects BRAC Bank's transparent disclosure of carbon emissions and governance benchmarks through its Sustainability and Impact Report 2024, IFRS S1 & S2 Report 2024, and Annual Report 2024.

The bank also leads the market in sustainable financing, with Tk 50,215 crore in outstanding sustainable finance as of December 2024, representing 82 percent of its total asset portfolio.

BRAC Bank received an excellent rating from the central bank, alongside two other leading institutions, as one of the nation's top sustainable banks in 2024. The Bangladesh Bank assessment considered five key criteria: the Sustainable Finance Index, CSR activities, Green Refinance, Core Banking Sustainability Index, and Banking Services Coverage.

Commenting on these national and international accolades, Tareq Refat Ullah Khan, Managing Director and CEO (current charge) of BRAC Bank, said: "These recognitions from Bloomberg and Bangladesh Bank affirm our deep-rooted commitment to responsible banking, transparency, and impact."

"At BRAC Bank, we believe ESG is not only about protecting the planet and uplifting communities; it is also about building a future-ready institution that investors, regulators, colleagues, and customers can trust."

"We remain committed to scaling up green and inclusive financing so that our progress contributes meaningfully to the nation's sustainable development goals," he added.