YES BANK, India's fifth largest private sector bank, has been upgraded by MSCI ESG Research to AAA Rating from AA rating. The MSCI ESG Report has highlighted YES BANK's key strengths in Financial Product Safety, Corporate Governance, and Financial System Instability, and has also highlighted that there are no significant risks for the bank from an ESG perspective.
Rana Kapoor, MD & CEO, YES BANK, said, "YES BANK excels in terms of risk management as we are the first bank in India to integrate environmental and social risks into overall credit risk assessment framework, enabling us to proactively mitigate emerging risks and create new opportunities in India's sunrise sectors. Institutional and individual investors are also now increasingly becoming more aware of the potential risks and opportunities related to Environmental, Social and Governance (ESG) factors."
The 'AAA' rating reaffirms YES BANK's 360-degree risk framework which includes pertinent ESG parameters
Environment
YES BANK has lead by example - in FY16, the bank reduced its own Specific GHG emissions by 19.52% on a year-on-year basis and earned ISO 14001:2004 certifications for 184 of its facilities in India.
Social
YES BANK has implemented inclusive, social and branchless banking models to reach out to over 18.8 lakh rural households through 1,55,000 Self Help Groups (SHGs). The bank has partnered with 39 Business Correspondents (BC) to provide comprehensive financial services to unbanked populations in rural and semi-urban areas, in 260 districts of India.
Governance
YES BANK is a benchmark institution for Triple Bottom Line accounting and reporting in India and in FY16, became the first Indian bank to release a Sustainability Report based on the Integrated Reporting guidelines of the International Integrated Reporting Council, while continuing to adhere with GRI G4 guidelines. The bank has received ISO 27001 certification for information security management system and data privacy policies.
About YES BANK:
YES BANK, India's fifth largest private sector bank with a pan-India presence across all 29 states and 7 union territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to steadily evolve as the professionals' bank of India with the long-term mission of 'Building the Finest Quality Bank of the World in India by 2020'.
Media Contact:
Sonali Shome
+91-22 3347 8051
sonali.shome@yesbank.in
Source: YES BANK Ltd
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