• Identification of the material issues to stakeholders and the bank helps to formulate the strategy
• A robust process to identify the priority issues allows us to make an efficient resource allocation
• As materiality requires internal and external engagement, materiality offers the opportunity for the bank to gather stakeholder opinions and provide a solid foundation for an on-going conversation, strengthen the two way communication, build credibility and reputation.
• Through materiality assessment, we gain a better understanding of how to better position our reporting to deliver meaningful insight on issues that matter both to us and stakeholders
• During the process, we identify other topics that are equally important because they safeguard the bank’s credibility and hence contribute to bank’s long-term business success, albeit indirectly.

The materiality analysis is based on a continuous process that include consideration, if not compliant to, international Corporate Social Responsibility (CSR) Standards. Following factors were considered while identifying material issues:

• Their importance to key stakeholders
• Their CSR materiality (environmental, economic and social impact of issues)
• Their legal risks if any
• Their impact on Bank’s reputation
• Their possible impact on business performance

The issues identified were placed on a matrix (see below), their position relative to the degree of stakeholder interest and potential business impact. These results represent the material issues facing our business. It shall be noted that all issues on the Map regardless of where they fall are relevant to the company.

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• Diversity & Inclusion: Includes efforts to improve diversity of Board, Management Committee and Employees.
• Risk Management: This includes uab bank’s overall approach to assessing and managing risk across the business and individual business units, products, services, and transactions.
• Technology Risk: This means keeping electronic information safe from external unwarranted intrusions.
  Anti- Financial Crime: This means bank’s measures on anti-money laundering, counter financing of terrorism, anti-corruption, and other criminal activity.
• Corporate Governance and Transparency: Governance in accordance with global standards and the availability and openness of information to stakeholders.
• Financial stability: The ability of the Bank to continue with sustainable profits and adequate internal controls.

Social

• Financial inclusion: The development and increased access to financial products and services, for unbanked and underbanked segments including financial literacy.
• Human rights: Approach of the Bank to human rights issues.
• Customer Satisfaction: Apart from being satisfied with service and product, this includes bank’s approach towards grievances redressal.
• Corporate Social Responsibility: Contributions of charitable nature and well-being of communities.
• SME Financing and Job Creation: This includes provisioning of financing to Small and Medium Enterprises and its consequent impact on job creation for the local economy.
• Training & Talent management: Employee training, the ability to attract top talent and the enabling of individuals to reach their full potential.

Environment

• Climate Change: This includes financing of clean and renewable energy products and the exclusion from financing activities that will be harmful to the environment and would lead to climate change.

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• Employee Commitment and Talent Management: This includes the ability of the Bank to attract and retain top talent and increase employee satisfaction in doing so.
• Employee Training: This includes communication and training to employees on ESG issues.