EBI Publications

Simply , responsible banking means that any commercial activities or projects accomplished by the bank must include and benefit its customers and the whole economy and not only benefit its staff and shareholders, while at the same time preventing, or at least minimizing, any undesirable impacts on society and the natural environment resulting from such activities or projects. The 10 Principles for Responsible banking developed by the European Savings Banks Group (ESBG) and The world Savings Banks Institute (WSBI) : 1-Fair and transparent corporate governance: Corporate governance refers to the set of rules and incentives through which the management of any organization is ruled as Furthermore, the principles behind the concept include achieving fair and transparent customer relations between the bank and its customers, following effective risk management, as well as fair and transparent corporate governance that all play a primary role to enhance responsible investment and financial stability. Moreover, responsible banking guarantees a strong commitment by banks to accomplish sustainable development as well as corporate social responsibility as an integral part of its business activities. Corporate social responsibility means the continuing obligation by responsible banks to behave ethically and transparently according to agreed standards in order to contribute in achieving economic growth while improving the well-being of its customers and their families as well as of the whole society.