Sustainable Economic Growth

Environment

The Board Finance & General Purpose Committee has the overall responsibility for setting the Bank’s sustainable business priorities in relation to social, environmental and ethical matters. It also ensures (through the Board Risk Management Committee) an effective risk management and implementation of the Environmental and Social Risk Management policy into the Bank’s business decisions.

The Environmental and Risk Assessment portal has been fully implemented and continuously updated and enhanced to screen qualifying transactions for environmental and social risk towards efficient business decision making. The portal is guided by various internal standards and collaborations like UNEPFI, IFC, ILO, Equator principles etc.

Access to Finance

Polaris Bank customers are key to its existence and are never taken for granted as the Bank deliberately takes steps to understand and always surpass their needs.

In addition to the variety of steps taken to satisfy and understand our customer’s needs, Polaris Bank undertakes a proactive customer engagement process using various forums, publications, email alert/SMS, social media, focus groups, written communication, marketing calls, advertising and business seminars.

The Polaris Business Seminar is a free, informative business seminar tagged “Nurturing Businesses for Growth”. It is sector-specific and addresses critical issues and challenges faced by SMEs. In line with the Bank strategy on the growth of Retail Business, the focal sectors were general commerce, petty traders in the grassroots (nominated by their associations) manufacturers, and management staff of SMEs in specific areas. The Bank has organized eleven business seminars with over 3,097 beneficiaries across the country within the last two years and this is continuous as growth within this sector is a focus.

The Bank is also increasing the various channels choices for customers to ensure greater access to banking services at all times in addition to increasing the number of wheelchair accessed branches for handicapped customers in specific regions.