AfrAsia Bank Limited (the “Bank” or “AfrAsia Bank” or “ABL” or “AfrAsia”) Integrated Report 2019 is a thorough report that addresses our economic, environmental and social performance for the Financial Year 2018-2019, as well as our vision and goals.
This report is intended for all stakeholders of the Bank. Together with the Sustainability Report (available on our website), this Integrated Report 2019 gives emphasis to material issues, value creation over the short, medium and long-terms, as well as disclosure and transparency to enable our stakeholders to make informed decision.
Last year, AfrAsia Bank submitted its first Integrated Report which was based on the Integrated Reporting Framework as directed by the International Integrated Reporting Council (IIRC) and on the GRI Reporting Principles, a set of standards that is essential to reporting non-financial metrics.
For the first time in its history, AfrAsia Bank is providing both an Integrated Report which gives a detailed overview of its financial performance and a Sustainability Report. The Bank’s first Sustainability Report 2019 (available on our website) must be read in conjunction with its Integrated Report and provides a comprehensive overview of its sustainability strategy and initiatives.
AfrAsia Bank welcomes feedback and suggestions on this report, which may be communicated to Mrs. Luvna Arnassalon-Seerungen, Head of Corporate Sustainability & CSR, at
Sustainability in the banking sector is widely referred to as “ESG”, which stands for Environmental, Social and Governance for the three factors in measuring the sustainability and ethical impact of investments.
Today, ESG is increasingly being used as a baseline for measuring the success of companies. It allows investors to effectively assess an organization’s resilience, adaptability, long-term sustainability and capacity for growth in a holistic manner.
In Mauritius, although, there is a lack of regulation on extra financial reporting, AfrAsia has taken the initiative to report on its ESG KPIs on a yearly basis. Since 2015, we have been regularly submitting a report on our sustainability performance to the United Nations Global Compact. A commitment, which is renewed every year by our CEO. Starting last year, we started the journey to align our report with the GRI Standard. This year, as well, we are on this same trend and will be going one step further by showcasing the standards throughout this report. As from April 2019, we concretized this engagement by joining the global GRI community.
As part of our strategy to be seen as a sustainable brand, we have also been involved in various initiatives such as the organisation of the first AfrAsia Bank Sustainability Summit in Mauritius in October 2018. This was a first edition of its kind in Mauritius, where we brought together practitioners and specialists in the sustainability field over two days in October. The aim was to showcase how collaborations between different organisations are driving the Sustainable Development Goals (SDGs) at the local level, as well as giving opportunities for businesses to connect in-person with local networks from around the world. The objectives of this summit was to engage with our stakeholders, to share experiences and lessons learnt on sustainability issues with other professionals, to explore the implementation of SDGs in businesses, to establish new and strengthen existing networks with various sustainability practitioners and communities, and to explore new opportunities in terms of developing initiatives between the public and the private sectors.
We understand that sustainability represents not only a way to be more responsible in the way we operate but also a great business opportunity for AfrAsia. Internally and externally, we are prepared to change the way we bank and provide our clients with an alternative to traditional banking products and services.
Going forward, we will review, adapt and align our strategy as per the needs of our stakeholders and the materiality issues for our businesses.
The Corporate Sustainability & CSR department