KBZ Bank: Path to Sustainability
Responsible Business Practices
At KBZ Bank, we are committed to enabling individuals, businesses and, through them, the country, to thrive. Through our products, processes and policies, we drive progress in ways that are both inclusive and sustainable, improving lives and livelihoods, and promoting development.
Myanmar is a fledgling economy that has opened up in the last decade and it is making a critical shift to a market-driven economy. Being able to draw on the experiences of our neighbours and the latest developments in both thinking and technologies means both the private and public sectors can leapfrog while considering the sustainability implications of growth strategies.
As one of the nation’s largest financial institutions, KBZ Bank embraces that mindset, even as it fulfils a critical role in Myanmar’s development. And as we ensure a continuous supply of capital to individuals and businesses across the country, our commitment to sustainability and inclusive growth ensures that our activities have a positive social and environmental impact.
We also believe in equitable growth. That is why we build products and services that benefit people across a wide cross section of sectors and social groups. Our priority is to be relevant and accessible to Myanmar and its people and to work tirelessly to strengthen communities and institutions for the long-term, forming the right foundations for nation-building.
KBZ’s Pillars of Sustainability
KBZ Bank’s path to sustainability has been both deliberate and systematic. Our Sustainability Strategy, which is aligned to a number of the United Nations’ Sustainable Development Goals (SDGs), is centred around three core pillars that address current, continuing and future needs:
- Promoting 100% financial inclusion in Myanmar
- Driving equitable growth for Myanmar’s economy and its communities
- Creating Myanmar’s workforce of the future
Promoting 100% financial inclusion in Myanmar
We believe that financial inclusion is critical to reducing inequality. Access to financial services gives individuals and communities the resources – and an opportunity – to lift themselves out of poverty and improve their quality of life. We give them the tools to begin saving, accumulating assets, and reducing their dependence on public aid and welfare. They can access everyday accounts to save and track spending, shopper loans to finance bigger purchases, and make payments to digital services without needing to hold a bank account.
That is why financial inclusion is one of the goals that KBZ Bank pursues with great determination. In a country where some 90 percent of the population remains unbanked, we have prioritised digital financial services that bring more people into the formal financial economy by putting banking at their fingertips. Our financial literacy programmes, meanwhile, give them the confidence to manage their finances and make sound money-related decisions.
Driving equitable growth for Myanmar’s economy & communities
Over the last 25 years, KBZ Bank has worked to promote growth in Myanmar, with a focus on strengthening its infrastructure, industries, and institutions.
Creating Myanmar’s workforce of the future
Myanmar is rapidly embracing the potential of connectivity and evolving into a mobile-first economy. Unencumbered by legacy systems, the country is well-placed to make the digital leap. But it will need to ensure that its people can keep up with technological change.
KBZ Bank has in place both internal and external strategies and talent development programmes to support the development of a digitally-literate and future-ready workforce.
|SDGs||UN Targets for 2030||KBZ Bank’s Initiatives (2019)|
|Goal 4: Quality Education||Ensure inclusive and quality education for all and promote lifelong learning||● Develop talent and leaders through a Value Centre model, continuous learning programmes, a strong commitment to diversity and inclusion, and supporting youth education|
|Goal 5: Gender Equality||Achieve gender equality and empower all women and girls||● Empower women through microfinance|
● Diversity and inclusion at the workplace
● Equal opportunity employer
|Goal 8: Decent Work and Economic Growth||Promote sustained, inclusive and sustainable economic growth, full and productive employment, and decent work for all||● Nurture entrepreneurship and support small business owners|
|Goal 9: Industry, Innovation and Infrastructure||Build resilient infrastructure, promote inclusive and sustainable industrialisation, and foster innovation||● Create financial connectivity beyond bank branches by introducing products and services that support a Mobile First Myanmar|
● Finance national infrastructure projects
● Strengthen institutions
● Power new industries
|Goal 10: Reduced Inequalities||Reduce inequality within and among countries||●Promote truly inclusive banking by giving the underserved and unbanked access to digital financial services through KBZPay|
|Employee Turnover||Employee Turnover for FY2019 was 7.7%|
Target: The bank aims to maintain its annual turnover at below 10% for FY2020
For the year ending Dec 2019:
● Total number of employees trained: 101,302
● Total man-hours of training: 228,345
Target: KBZ aims to provide every employee with four man days of
learning per year for a total of 60,000 man days of training in 2020.
|Disability||There are 16 disabled employees currently working at KBZ Bank.|
|KBZ Bank works with Recyglo to conduct waste audits at its|
● Identifying, quantifying, and analysing the composition of the
waste generated by the Bank, and ensuring compliance with ISO 14001-2015 requirements, as well as YCDC and SDG goals
● Improving our ability to reduce, reuse, and recycle solid waste
● Discovering new ways to improve the current waste management
From February 2019 to March 2020, KBZ Bank HQ upcycled 894.98 Kg
of waste, in line with ISO 14001-2015 requirements, and YCDC and SDG
goals. Total CO2 Offset: 1.809 Kg
|Energy||Usage (October 2019 – July 2020):|
● Total 130,513,601 MMK (Water, electricity and gas)
● Total 246,673,721 MMK (Petrol)
|Carbon||Through recycling 894.98 Kg of paper, plastic, cans, and glass, among|
other waste, KBZ has reduced its greenhouse gas emissions from the
combustion of such waste, offsetting 1,809 Kg of CO2.
|Philanthropic Activities||Philanthropic expenditure (2019 – 2020): MMK 3.6 billion|