Indian company FINO wins Banking at the Bottom of the Pyramid award
The Financial Times and IFC, a member of the World Bank Group, have announced the winners of the 2010 FT Sustainable Banking Awards, with Co-Operative Financial Services of the United Kingdom named as Sustainable Bank of the Year and Itaú Unibanco of Brazil taking the overall Emerging Markets prize.
Now in their fifth year, the awards recognize banks and other financial institutions that have shown leadership and innovation in integrating social, environmental, and corporate governance considerations into their operations.
The awards were presented at a gala dinner in London attended by more than 250 senior bankers and decision-makers in the area of sustainability.
The event followed a one-day Sustainable Banking Conference organized by the Financial Times and IFC.
The 2010 winners and runners-up in each category are:
Sustainable Bank of the Year
* Winner: Co-Operative Financial Services, U.K.
* Runner-up: HSBC, U.K.
Emerging Markets Sustainable Bank of the Year
* Winner: Itau Unibanco, Brazil
* Regional winner Africa/Middle East: Nedbank, South Africa
* Regional winner Asia: BRAC Bank, Bangladesh
* Regional winner Eastern Europe: Industrial Development Bank of Turkey (TSKB)
* Regional winner Latin America: Itaú Unibanco, Brazil
Achievement in Basic Needs Financing
* Winner: One Acre Fund, Kenya
* Runner-up: Acumen Fund, U.S.
Achievement in Banking at the Base of the Pyramid
* Winner: Financial Information Network and Operations (FINO), India
* Runner-up: MicroEnsure, U.K.
Sustainable Investor of the Year
* Winner: Global Environment Fund, U.S.
* Runner-up: Calvert Foundation, U.S.
“We are seeing a much greater commitment by financial institutions in both developed and emerging markets to make sustainability a core part of their business. The quality of this year’s awards entries reflect this commitment and the winners and runners-up announced today are leading the way” said Martin Dickson, Deputy Editor of the Financial Times and co-chair of the awards judging panel.
The judging panel narrowed down the entries to a short-list of five institutions for each category of award—and three banks for each regional subcategory under Emerging Markets Bank of the Year—before selecting the overall winners.