Established in 1911, Standard Chartered Bank Kenya holds the distinction of being the first international bank in Kenya. With its inaugural branch opening at the historic Mombasa Treasury Square, the bank embarked on a journey marked by integrity, innovation, and steadfast dedication to its customers.
Standard Chartered was listed on the Nairobi Securities Exchange (NSE) in 1989, solidifying its status as a key player in Kenya’s financial market. With a strong nationwide footprint, Standard Chartered operates 22 strategically positioned branches and 107 ATMs, ensuring convenient banking access. The bank employs over 1,000 dedicated professionals, contributing significantly to the local job market and economy.
Beyond its financial prowess, Standard Chartered is committed to impactful Environmental, Social, and Governance (ESG) practices. Under these pillars, the bank champions sustainable finance, proactively engaging in environmentally responsible banking initiatives; it upholds its identity as a responsible company, embodying a strong ethical framework; and the bank’s dedication to inclusive communities shines through its efforts, fostering an atmosphere of equality and accessibility.
In the realm of sustainable finance, Standard Chartered takes significant strides to promote sustainable growth, economic development, and social progress. Through its comprehensive range of financial products and services, the bank actively fuels sustainable development and job creation within the community. For instance, Standard Chartered diligently crafts sustainable finance products in collaboration with Sustainalytics – leading provider of ESG and corporate governance research – establishing clear criteria for what qualifies as ‘sustainable’ and ‘green’ products. The bank proactively manages environmental and social risks, engaging actively with stakeholders to ensure positive outcomes stemming from its financing decisions.
Moreover, Standard Chartered maintains high standards for its clients, drawing from respected global benchmarks like the International Finance Corporation (IFC) and the Equator Principles. The bank’s unwavering dedication is evident in its refusal to engage with clients who fail to align with these standards.
Standard Chartered’s commitment as a responsible company is reflected in a myriad of initiatives. The bank’s endeavours are multifaceted, demonstrating its dedication to ethical practices and sustainable operations. Through targeted efforts, Standard Chartered aims to minimise its environmental impact, setting clear objectives to reduce energy, water, and paper consumption. This eco-conscious approach aligns seamlessly with the bank’s ethos of responsible banking. Standard Chartered champions ethical decision-making, focusing on combating financial crime while investing significantly in its workforce. The bank actively fosters diversity and inclusivity, empowering employees through extensive learning programs and local resource groups.
Standard Chartered passionately embodies the essence of an inclusive community. By collaborating with local partners and driven employee volunteers, it actively engages in programs centred around health and education, championing a vision where everyone, regardless of background, has the opportunity to thrive. Under its flagship initiative, Futuremakers by Standard Chartered, the bank invests in empowering disadvantaged young people from low-income households, with a particular focus on girls and individuals with visual disabilities.
Through targeted programs in education, employability, and entrepreneurship, Standard Chartered strives to bridge inequalities and foster economic inclusion. Specifically, the bank’s Goal program empowers adolescent girls with essential life skills, enabling them to navigate challenges effectively. In parallel, Standard Chartered’s employability pillar equips young individuals with vocational training, emphasising the importance of work readiness. Furthermore, Standard Chartered’s commitment to entrepreneurship is evident through its Women in Technology program, providing support, training, and financing for women-led micro, small and medium enterprises (MSMEs). This dedication to inclusive community initiatives not only transforms lives, but also underscores Standard Chartered’s deep-rooted commitment to social progress and sustainability.
Standard Chartered’s governance culture stands as a testament to its responsible approach, grounded in robust principles and valued behaviours. The bank prioritises financial crime prevention, actively combating issues like bribery and corruption through enhanced controls and knowledge-sharing initiatives. Furthermore, Standard Chartered’s dedication extends to its clients, ensuring fair treatment and tailored solutions. The bank’s responsible selling and marketing practices underscore its commitment to ethical client interactions. Moreover, Standard Chartered’s responsibility extends to its supply chain, upholding global standards and striving to eradicate modern slavery within its operations and supplier network.
Further embodying Standard Chartered’s devotion to exemplary corporate governance is the Board Charter, which serves as the cornerstone of Standard Chartered’s governance framework. The charter delineates the Board’s pivotal role in decision-making, internal control, risk management, and fostering a culture of ethical conduct. It underscores the Board’s responsibility in adopting strategic plans, policies, and procedures, ensuring compliance with laws and regulations, and promoting sustainability. With a focus on diversity, the Board comprises members possessing a diverse mix of skills and expertise vital for effective oversight.
The charter emphasises the importance of transparency, ensuring that directors’ remuneration packages are disclosed and approved by shareholders. Standard Chartered is dedicated to continuous improvement, with mechanisms in place for board evaluation and training. Additionally, Standard Chartered prioritises stakeholder engagement, recognising and respecting the rights of shareholders while fostering effective communication with all stakeholders. The charter fosters a culture of integrity, transparency, and responsibility.
Standard Chartered stands as a pioneering leader in the ESG landscape, seamlessly blending financial prowess with ethical responsibility.