uab Bank Limited Wins Excellence Award for Sustainable Finance at the ESG Business Awards 2024

September 25, 2024 – Yangon, Myanmar

uab bank Limited is honored to announce that it has received the Excellence Award for Sustainable Finance at the prestigious ESG Business Awards 2024. This award reflects uab bank’s unwavering dedication to sustainable financial practices that align with the United Nations Sustainable Development Goals (UN SDGs) and support the broader goals of environmental responsibility, financial inclusion, and community welfare.

uab bank’s sustainable finance initiatives over the fiscal year ending March 30, 2024, include targeted achievements in green financing, digital accessibility, and social responsibility that underscore our core commitment to driving positive impact.

Key highlights of these accomplishments include:

  • Dedicated Sustainable Loan Portfolio: 15.3% of uab bank’s loan portfolio has been strategically allocated to agriculture and related industries, supporting sustainable practices and fostering growth in key sectors of the economy.
  • Significant Financial Allocation: uab bank has dedicated MMK 920.6 billion to clean energy, housing, SMEs, and other vital sectors aligned with the UN SDGs, promoting economic progress and environmental responsibility across Myanmar.
  • Digital Financial Inclusion: uab bank proudly onboarded 1 million digital wallet users, expanding financial access and convenience for people across Myanmar, particularly in underserved areas.
  • Inclusive Finance Programs: Over 18,000 individuals have benefited from uab bank’s financial inclusion programs, which are designed to support communities and provide accessible financial services.
  • Commitment to Carbon Reduction: With a reduction of CO₂ emissions to 0.902 metric tons per employee, uab bank reinforces its dedication to minimizing environmental impact and promoting sustainable operations.
  • Corporate Social Responsibility (CSR): Through CSR initiatives, uab bank contributed MMK 500 million to various community activities, strengthening local communities and supporting social welfare programs.
  • Extensive Employee Training and Development: uab bank invested 60,914 hours in employee training, empowering over 2,000 employees. Additionally, 105 trainees, 71 interns, and 278 college students were given valuable training opportunities, supporting the future generation of finance professionals.
  • Diversity and Gender Equality Initiatives: uab bank prioritizes diversity and inclusion across all levels of the organization, ensuring equal opportunities and a supportive environment for all employees.
  • Expansion of Financial Infrastructure: With the addition of 6 new branches, uab bank has broadened its reach, facilitating greater access to banking services and financial resources.

These achievements are a testament to uab bank’s continuous efforts to incorporate sustainable principles in every aspect of its business operations, fostering long-term value for clients, communities, and stakeholders.
To learn more about uab bank’s sustainability initiatives and our continued commitment to sustainable finance, read our full 2024 Sustainability Statement here.