Transformation towards Digital Banking

Sustainability Report2 0 1 9

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Sustainability Report2 0 1 9

Transformationtowards Digital Bankingfor Sustainable Future

C o n t e n t sAbout This Report

Prime Bank at a Glance

Statements

2720

09

04

03

38

41

101

108

50

58

76

93

Prime Bank Profile &Report Profile

Materiality Disclosures &Stakeholders Engagement

Corporate Governance

Transformation of Prime BankTowards Digital Banking AndIts Role In The Sustainable Development

Economic Impact

Environmental Impact

Labor & Social Impact

Community Outreach Product ResponsibilityImpact

SupplementaryInformation

3Sustainability Report |

As part of our sustainability strategy, we are committed to issuing an annual sustainability report that follows the Global Reporting Initiative (GRI) Standards. Our prior two reports were based on GRI reporting framework G3/ G3.1 guidelines. But from the year 2013 to 2017 we have prepared our sustainability report based on GRI reporting framework G4 guidelines and from the year 2018, we are reporting on GRI reporting framework GRI standards with an effort to measure, disclose and be accountable to internal and external stakeholders in terms of governance, economic, environmental and social aspects including both positive and negative Impacts. This report has been prepared in accordance with the GRI Standards: Comprehensive option.

Boundary of the Report

This report provides information on our social, environmental and governance achievements and commitments until December 31, 2019 and covers only banks operation run by corporate office, its branches, SME service centers and other direct networks in Bangladesh. Impacts of the activities of our subsidiaries, NGO networks or our suppliers in other countries are not within the scope of this report. Prime Bank has three overseas subsidiaries and two local subsidiaries. Prime Bank Investment Limited and Prime Bank Securities Limited are in Bangladesh and others in Hong Kong, Singapore and UK. As owner, the Bank controls the activities of its subsidiaries. PBL Finance (Hong Kong) Limited, Prime exchange Co. PTE. Ltd., Singapore and PBL Exchange (UK) Limited are three wholly owned subsidiaries with a primary responsibility of remittance channeling to Bangladesh from Hong Kong, Singapore and UK. A comprehensive overview of our impact and engagement across economic, social and environmental sectors is covered in the different chapters of this report, with a special emphasis on the role of stakeholders in our sustainability management program.

About This Report GRI 102-45

Bangladesh

UK

Hong Kong

Singapore

FEEDBACK

We welcome any feedback on our

sustainability reporting. For further

information and comments, please

contact Sustainability Reporting Team

of the Bank lead by Mr. Md. Touhidul

Alam Khan, FCMA, CSRA, CSP, Deputy

Managing Director and Head of SRC,

Mr. Mohammad Habibur Rahman

Chowdhury, FCA, Deputy Managing

Director and CFO, Member Secretary of

SRC, Mr. Md. Emdad Hossain, CSRS,

CSP, Senior Assistant Vice President and

Mr. H.M. Sarwar Maruf, CSRS, CSP,

Executive Officer. They may be reached

through

[email protected]

Prime Bank has been awarded “PLATINUM RANK” in Asia Sustainability Reporting Rating-2019. Md. Touhidul Alam Khan, Deputy Managing Director of the Bank is receiving the award from Prof. Bambang Permadi Soemantri Brodjonegoro, Minister of Research and Technology, The Republic of Indonesia on November 23, 2019 at Bali, Indonesia.

We are proud for the PLATINUM RANKIn Asia Sustainbility Reporting Rating (ASR) 2019

We are proud for the PLATINUM RANKIn Asia Sustainbility Reporting Rating (ASR) 2019

C o n t e n t sAbout This Report

Prime Bank at a Glance

Statements

2720

09

04

03

38

41

101

108

50

58

76

93

Prime Bank Profile &Report Profile

Materiality Disclosures &Stakeholders Engagement

Corporate Governance

Transformation of Prime BankTowards Digital Banking AndIts Role In The Sustainable Development

Economic Impact

Environmental Impact

Labor & Social Impact

Community Outreach Product ResponsibilityImpact

SupplementaryInformation

4 | Sustainability Report

ListingInformation

Prime BankLimited 27 March 2000 15 November 1999

DSE CSE

RatingInformation

Long-Term

Short-Time

AA

ST-2 ST-2

AA2019

2019

2018

2018

AuthorizedCapital

Paid-up CapitalShare Capital

11,323

25,000

2018

11,323

25,000 BDTin Million

BDTin Million

2019

Branches

ATM

05

Number ofSubsidiaries

Number ofBranches & ATM

Prime Bank Investment LimitedPrime Bank Securities LimitedPrime Exchange Co. PTE Ltd (Singapore)PBL Exchange (UK) LimitedPBL Finance (Hong Kong) Limited

146 146

160 170

} }

Address

Corporateoffice

Prime Bank Limited119/120 Adamjee Court Annex Building-2Motijheel C/A, Dhaka-1000Web: www.primebank.com.bd

Total Assets (BDT)

322,417million

Loans andAdvance (BDT)

213,955million

Deposits (BDT)

216,444million

Net Profit (BDT)

2,004million

17.42%

CRAR

7.57%

Return onEquity

0.65%

Return onAssets

PRIME BANKAT A GLANCE

ListingInformation

Prime BankLimited 27 March 2000 15 November 1999

DSE CSE

RatingInformation

Long-Term

Short-Time

AA

ST-2 ST-2

AA2019

2019

2018

2018

AuthorizedCapital

Paid-up CapitalShare Capital

11,323

25,000

2018

11,323

25,000 BDTin Million

BDTin Million

2019

Branches

ATM

05

Number ofSubsidiaries

Number ofBranches & ATM

Prime Bank Investment LimitedPrime Bank Securities LimitedPrime Exchange Co. PTE Ltd (Singapore)PBL Exchange (UK) LimitedPBL Finance (Hong Kong) Limited

146 146

160 170

} }

Address

Corporateoffice

Prime Bank Limited119/120 Adamjee Court Annex Building-2Motijheel C/A, Dhaka-1000Web: www.primebank.com.bd

Total Assets (BDT)

322,417million

Loans andAdvance (BDT)

213,955million

Deposits (BDT)

216,444million

Net Profit (BDT)

2,004million

17.42%

CRAR

7.57%

Return onEquity

0.65%

Return onAssets

PRIME BANKAT A GLANCE

Group Structure

Prime BankLimited

OverseasSubsidiaries

Prime BankSecurities Ltd.

(95% owned)

Prime BankInvestment Ltd.

(99.99% owned)

Prime Exchang (UK) Ltd.(fully owned)

Prime Finance(Hong Kong) Ltd.

(fully owned)

Prime ExchangeCo. Pte. Ltd.Singapore

(fully owned)

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Prime BankLimited

OverseasSubsidiaries

Prime BankSecurities Ltd.

(95% owned)

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Corporate Philosophy

FOR OUR CUSTOMERS

To provide the most courteous and efficient

service in every aspect of its business

To be innovative in the development of new banking products and services

FOR OUR COMMUNITYBy assuming our role as a socially responsible corporate citizen in a tangible manner

By adhering closely to national policies and objectives thereby contributing towards the progress of the nation

By upholding ethical values and best practices constantly seeking to improve performance by aligning our goals with stakeholders’ expectations, because we value them.

FOR OUR SHAREHOLDERS

By forging ahead and consolidating its position as a stable and progressive financial institution

By generating profits and fair return on their investment

By promoting their well-being through attractive remuneration and fringe benefits

By promoting good staff moral through proper staff training and development, and provision of opportunities for career development

FOR OUR EMPLOYEES

STATEMENTSMessage from The ChairmanMessage from The Managing Director & CEOReport of Head of SRCVision, Mission and Core Values

Message from theCHAIRMAN


Message from theCHAIRMAN

Since commencement back in 1995, Prime bank proudly imprinted its footprint in all-around initiatives to safeguard the interest of its valued customers and the society where it operates. In this 25-year long journey, there are countless stories which embrace our compassion and devotion that imply the bank’s promise to grow as a sustainable entity. The Bank is committed to act responsibly in its everyday business and believes in strong stakeholder relationship which is of paramount importance to move forward.

When we talk about Sustainability strategy, we consider all our products, services and policies. Everything under the combined banking process needs to be designed in such a manner that supports every individual to act responsibly in every organizational action. Each single brick is crucial to build a solid structure. Therefore, our policies are designed in such an integrated way that everybody feels becoming part of shouldering greater corporate responsibility. In Regard of products and services, we always focus on tech-savvy, convenient and eco-friendly product innovations, meeting time befitting customer demand.

Now, being specific about some sustainability strategy, there are Risk Management Committee (RMC) to mitigate organizational risks, Sustainable Finance Unit (SFU) to oversee sustainability initiatives and correspond with the central bank’s concerned unit. Again, the SFU works under the guidance of Sustainable Finance Committee (SFC) that schedules meeting on quarterly basis to discuss the sustainability progress and set future goals. Since, Prime Bank is devoted to promote sustainable growth in the economy, the bank supports the socio-economic development of Bangladesh. The Bank extends credit facilities to clients whose business activities lessen ecological damage, endorse energy efficiency and support communities who are vulnerable to climate change. The Bank financed over BDT 1900 million in 2019 in different green financing projects including green building, installation of ETP, waste heat recovery and LED Bulb Projects. Sustainable financing could be one of the suitable opportunities to diversify bank’s business. It is also a noble initiative to keep our environment better.

Positively, every year, we are issuing annual sustainability report following Global Reporting Initiative’s (GRI) guidelines

to disclose the bank’s initiatives and contributions towards the economy as a social and environment friendly organization. To supervise the reporting, we have formed Sustainable Reporting Committee (SRC) to go for extra miles as possible to help become and remain the best socially responsible bank in the region. The bank has been continuously strengthening its status as a world leader in transparency in business operations, green banking initiatives, secured and superior customer service and strong shareholders relationship. Achieving the highest award ‘Platinum Rank’ last year after prestigious ‘Gold Rank’ in 2018 from National Centre for Sustainability Reporting (NCSR) and Institute of Certified Sustainability Practitioners (ICSP) is nothing but the solid evidence of the Bank’s continuous progress in sustainability ground.

In light of Green banking, Prime bank endorse green initiatives every way possible. From products to marketing, office premise to financing everywhere we insist green initiatives. The bank has developed Green Banking Policy, Environmental and Social Risk Management Policy to act responsibly while conducting business. In the green banking policies, the top priority goes to 3R principle of Reduce, Reuse and Recycle. The bank focuses on cost optimization by reducing operational cost with less consumption of office equipment, energy and water. The bank already developed Green Office Guide as a general guideline to facilitate the in-house green banking objectives of the Bank. Our Green Office Guide has pictorial demonstration for better understanding of the readers. However, the great part is, Prime bank has brought significant changes in one of the core green banking tools, the online banking platform. As part of product innovation strategy, the bank introduced products like ‘Prime Digi’ prioritizing digital customer onboarding, discouraging physical movement which cause carbon emission to the nature.

While making business decisions, be it financial investment or advice, we consider environmental issues, employee and social affairs, human rights, anti-corruption, anti-money laundering and related other matters. All these lead us towards a sustainable corporate governance. We never compromise with ethical standards to protect both our customers and environment. We

First of all, I would like to relish this opportunity to join the global process of Sustainability reporting which is not a mere reporting procedure but a tool that brings global businesses under same umbrella as the climate-responsible entities. And secondly, I would like to express my deep concern and best wishes for the people and society who are vulnerable to the noble Corona virus pandemic. Back to the earlier point, yes, it really feels good when we say we strive for the welfare of our living place; because, we believe, business is nothing separate from the goodness of people and planet. Being a member of Prime Bank family, I can proudly state that we do our business in utmost respect to our valued stakeholders who are the heart of our business, society where we live and the climate where we breathe. Our endeavors toward sustainability are further inspired by the prodigious recognitions like “PLATINUM RANK” in Asia Sustainability Reporting Rating 2019, an accolade which was awarded by the forerunners in the sustainability spectrum.


believe good governance is one of the key benefactor to achieve sustainable business growth.

We know that year 2019 was one of the most difficult financial years in recent past posing challenges from both global & local perspectives to sustainable business growth. Mounting pressure of non-performing assets, increasing threat of cyber security and changes in regulatory policies disrupted stable growth of the industry. Despite all odds, Prime Bank continued delivering seamless banking experience to its customers, launched several industry pioneering products, reduced nonperforming asset ratio with intensified loan recovery efforts and extended investment portfolio by maintaining sustainable growth in terms of profitability and competitiveness.

Last year, Bank’s operating profit reached to approx. BDT 700 crore, deposit base increased modestly by 10% whilst lending portfolio stamped decent growth by exceeding BDT 21,000 crore mark, and noticeably non-performing loan ratio dropped to 4.66%. In terms of Capital to Risk Weighted Assets Ratio (CRAR), against a regulatory requirement of 12.50% the bank maintained the ratio at 17.42% which is the best amongst all private commercial banks in the country. The enviable asset quality is certainly the testimony of good governance in every department of this bank.

Last but not least, the Bank has been demonstrating its responsibilities through various CSR programs in the field of education, health and Games & Sports through its dedicated CSR wing, Prime Bank Foundation. In 2019, 264 students of the country received stipends under the education support program of the bank and that will continue till the end of their studies. the Bank heftily donated to the Prime Minister’s office on Relief Fund for various disastrous causes and thus took part in national level to support the vulnerable during the year. In the fields of Games & Sports, the bank sponsored “Prime Bank Young Tigers National School Cricket”, which is the biggest platform for the budding school cricketers for graduating to different national levels. Along with other activities, Prime Bank English Medium School, Eye Hospital, Nursing Institute under Prime Bank Foundation have been playing their due roles in serving the community at affordable cost while ensuring quality as well. In addition, beyond our business responsibilities, we always attempt

to facilitate the integration of sustainable practices in alignment with Government’s target to achieve the Sustainable Development Goals (SDGs).

Putting the success story in front, I would like to express my heartfelt gratitude to the Prime Bank family for their relentless efforts & hard work without which the success Prime Bank enjoying today would not have been possible. The 25-year long collective effort has transformed the bank as one of the best

second generation private commercial banks of the country in terms of asset quality, capital adequacy, innovation, corporate governance and staff excellence. I cannot stop mentioning the support of our valued stakeholders whose faith upon us was the main catalyst for our today’s glory. Therefore,

our aspiration is not only being the best sustainable business entity in the banking sector, but also to hold the status forever.

Before ending my note, I want to make the promise to our esteemed stakeholders on behalf of Prime Bank family that we are and will certainly be aware of the challenges induced by Covid-19 and do the needful to save the best interest of our stakeholders and society during and post Covid-era. With our sincerity and determination, I wish and pray our sustainable journey will continue ahead.

Sincerely yours,

Tanjil ChowdhuryChairman

. . . . . . . . . . . .Prime bank has brought significant changes in one of the

core green banking tools, the online banking platform. As part of

product innovation strategy, the bank introduced products like ‘Prime

Digi’ prioritizing digital customer onboarding, discouraging physical

movement which cause carbon emission to the nature.

Message from theMANAGING DIRECTOR & CEO


Welcome to our seventh sustainability report, in which we highlight Prime Bank’s progress and achievements in the social, environmental and economic fields for the year 2019 in accordance with the new GRI Standards. The theme for Sustainability Report 2019 is “Transformation towards Digital Banking for Sustainable Future”.

We are proud of the progress we made in 2019 against our sustainable goals. Among our several accomplishments at the environmental level was advancing our commitment to a paperless operations environment, which enabled us to reduce operational costs and enhance our environmental performance. We have also continued our efforts in helping our customers reduce their environmental footprint by offering them paperless banking services through digitalization. This is in addition to our active role in financing environmentally-friendly infrastructure projects aimed at supporting environmental conservation and expanding clean energy usage across the country.

The financial sector is changing rapidly. The digital opportunities are creating new ways of delivering and consuming products and services and this is becoming a dominant theme, moving into the mainstream and beginning to drive innovation across the financial sector. At Prime Bank, our overarching vision is to remain relevant to generations to come by designing products and services that meet their needs and lifestyles. To achieve this objective, our Digital Innovation Strategy focuses on exploring, accelerating, and scaling-up innovation that will drive sustainable business growth for our clients.

We strongly believe that digital transformation is not the mandate of any single team, but that it needs to be embraced by the entire organization in phases. 2019 has been a productive year in achieving the Bank’s aspiration of becoming a true digital bank.

Prime Bank launched ‘Prime DIGI’, the first ever Digital Savings account in Bangladesh as a prelude to digital onboarding of clients who would not be required to come to the branch for opening of the account and can manage all their banking requirements from their handhelds or desktops.

Initiatives have also been taken to review and enhance capabilities of ‘ALTITUDE’ (Prime Bank’s internet banking platform), Agent Banking, Centralized Remittance operations and innovate new digital banking products and services. The Bank’s new business model along with realigned operational process through Business Process Re-engineering and continuous investment in technology will play vital role in this journey.

Prime Bank’s efforts in 2019 has won the Bank recognition as the Best Digital Bank in Bangladesh in 2020 by Asiamoney, a leading global financial publication. I strongly believe that the Bank’s continued efforts to drive digital innovations will yield results in terms of increased efficiency and enhanced digital customer service excellence in 2020, despite the offset caused by the Coronavirus outbreak.

To strike a further social balance, Prime Bank will also continue to act as a responsible corporate citizen like in the past through its CSR wing, styled Prime Bank Foundation. Besides direct contribution to the society in the form of donations, we share a portion of our profits with Prime Bank Foundation (PBF). PBF was established in 2002 to implement social programs designed to reach out to the underserved and marginalized sections of the society, and address the national development agenda. At present, key contributions of the Foundation include, Prime Bank Eye Hospital, Prime College of Nursing, Prime Bank English Medium School and Education Support Program (ESP). During 2019, Prime Bank contributed BDT 80.62 million as donation and BDT 185.98 million to Prime Bank Foundation for carrying out CSR activities.

Although as a financial institution our direct impact on the environment is limited, we are cognizant of the role we can play in propagating good environmental practices through our lending and in our own activities and operations. A comprehensive environmental and social screening approach assists us to minimize such impact while we lend money to a business. Apart from direct lending towards various green projects, environmental and social considerations are embedded into our credit appraisal mechanism.

“The financial sector is changing rapidly. The digital opportunities are creating new ways of delivering and consuming products and services and this is becoming a dominant theme, moving into the mainstream and beginning to drive innovation across the financial sector. At Prime Bank, our overarching vision is to remain relevant to generations to come by designing products and services that meet their needs and lifestyles. To achieve this objective, our Digital Innovation Strategy focuses on exploring, accelerating, and scaling-up innovation that will drive sustainable business growth for our clients.”


Prime Bank Limited (PBL) recognizes that its financing decisions have potential impact on human health and environment. Under this purview, PBL has developed Environmental & Social Risk Management policy statement and procedure manual in 2017 which was fully implemented and effective from the beginning of 2018. The Environmental and Social (E&S) Risk Management Policy Statement represents the Banks commitment towards being E&S compliant in its activities and financing and the E&S Risk Management Procedure Manual is a detailed document on the process flow, roles and responsibilities and operational procedure of E&S Risk Management for the Bank.

PBL is committed to promote sustainable growth in the economy. During the year 2019, the Bank has financed a total of BDT 1,900.20 million in green finance of which BDT 1,611.40 million was disbursed for establishing a green building, BDT 218.10 million for installation of ETP in a project, BDT 10.00 million for installation of CETP in a project, BDT 48.00 million in a waste heat recovery project BDT 12.70 million in a LED Bulb/Tube Assembly Plant. As a part of exploring new ventures in environment friendly projects, the Bank has also conducted several field visits, meetings with existing and prospective entrepreneurs and Central Bank officials. To strengthen E&S Risk Management of the Bank, we organized five (05) dedicated training for 184 officials in order to familiarize concept related to Green Banking and Environmental & Social Risk Management.

Prime Bank has always been active regarding its activities for the environment. One of its achievements was to make the Credit Committee & Board Meetings paperless. As part of Prime Bank’s continuous effort of positively upholding the Green Banking initiatives, the Bank has developed Green Office Guide as a general guideline to facilitate the Green Banking objectives of the Bank. Also, the Bank has installed solar panels at 36 branches as well as at 4 (four) ATM booths and initiative has been taken to install more solar panels in branches in the future as part of its commitment to the usage of renewable energy resources. Environmental activities during the year can be found more in details in the Green Banking Report.

PBL has always been an active member of society and has tried to enhance people’s lives and its employees as well. Prime Bank Foundation was solely initiated for the purpose of Corporate Social Responsibility (CSR).

Prime Bank is creating a responsible business that will always meet customers’ needs and a culture where we put customers first. This is the key to our long-term success and to fulfill our aim to retain our position as the best private commercial Bank for customers, colleagues and shareholders.

Maintaining corporate sustainability will always remain to be an issue of critical importance to us. We recognize our responsibility to take actions supporting environmental issues and to use our business resources to enable our clients, customers and employees to reduce their own environmental impacts.

In 2019, we successfully attained few essential components of strategic plans and priorities by delivering improved services to our customers in an effort to treat all fairly and inclusively making it easy for them to find, understand and access products that are right for them under any circumstances. We have continued to transform the Bank to become a safer, more agile and customer focused organization whilst maintaining steady profits. Prime

Bank has recently upgraded its core banking system to the latest version R16 to offer new products and open new avenues to serve its customer in more flexible and cost-efficient ways. Some other projects leading to enhancing capacity and ensuring

compliance may be mentioned here like implementation of Moody’s Credit appraisal software for internal rating of the clients. Tier III Data Center (first of its kind in Bangladesh); centralized CIB Automation process; certification work of card management EMV compliant and 24 hours central CCTV monitoring system has been already established. While much is yet to be done, including full-fledged agent banking, more digitization in the banking model, business restructuring will largely be completed in 2020.

PBL is committed to achieve performance excellence through intense focus on all segments of business, strong budgetary control process and an effective system of internal control. Management is confident that, PBL will be able to deliver satisfactory result to its stakeholders in the coming year. Forthcoming years of PBL would be all about reengineering further the business and operational processes to make it more digitally driven and be convenient for the clients of the Bank.

We have an independent ‘Sustainable Finance Unit’ which is looking after Bank’s sustainable financing activities and assessing environmental and social risk management aspects of the business proposals & banking activities in light of national and international standards. All these activities of the Bank are reported separately by another committee named ‘Sustainability Reporting Committee’ following GRI Standards. We are really privileged to share that, Prime Bank has been granted “PLATINUM RANK” in Asia Sustainability Reporting Rating 2019, in the 15th Sustainability Reporting Awards (SRA) 2019 by NCSR (National Center for Sustainability Reporting) and ICSP (Institute of Certified Sustainability Practitioners) in Jakarta, Indonesia for Sustainability Report 2018. This is to be mentioned

Prime Bank is creating a responsible business that will always meet customers’ needs and a culture where we put customers first. This is the key to our long-term success and to fulfill our aim to retain our position as the best private commercial Bank for customers, colleagues and shareholders.


that “PLATINUM RANK” is the highest rank offered in this rating. Prime Bank’s rating was in the “GOLD RANK” in the year 2018.

We acknowledge that sustainability is a journey and that we need to continue to align with the evolving expectations of our stakeholders, providing them with the needed support to achieve their goals and ambitions. We look into the future with a sense of optimism and a firm belief that we can continue building on our successes to create long-term sustainable financial and non-financial value for the Bank and our stakeholders.

As we mark the Bank’s 25th anniversary in 2020, I look forward to a year of cautious optimism. We will overcome the COVID-19 challenge and set our strategy giving highest priority on sustainable business growth and in accordance with that, we believe 2020 shall be a year of moderate growth and consolidation again for the Bank. Keeping bank’s strategy in mind along with the economic scenario we sorted our priority and initiatives for the coming year, which I’d like to put down here as under:

We believe that innovation and diversification of products and services is another key factor to ensure continuous growth and sustainability and our concentrated strives will continue in this regard;

With our Business Process Re-engineering and cost optimization measures set in motion, we are on track towards fulfilling our economic and social aspirations.

Going forward our focus would be on driving growth and business by enhancing customer experience be it product or service related, and our aim would be to take these to newer heights of efficacy by fine tuning through digital innovation.

Recovery and managing NPL is one of the critical success factor. For which we set increasing focus on strengthening recovery and managing NPLs effectively.

Working as an integrated team by believing in ‘One Bank, One Team’ mantra, we found innovative and differentiating ways to delight our customers, attracting new businesses while strengthening existing relationships. Together, we will continue to take the company forward and deliver more value to those we serve and to our stakeholders.

We believe, to achieve our aim of becoming the best private commercial Bank in Bangladesh, we shall be continuing to provide our customers with brilliant services and seamless experience across all our channels. We want our valued customers will get different banking services by staying at home or work station through our digital banking platform of innovative banking services.

We look forward to creating long-term value and drive positive economic, environmental and social change through servicing our customers and communities by ensuring and accelerating our movement for “Transformation towards Digital Banking for Sustainable Future”.

Rahel AhmedManaging Director & CEO

Report of Head of SustainabilityReporting Committee (SRC)

Sustainable banking is getting momentum in developing countries and Bangladesh has been one step ahead now by initiating particular sustainable banking activities in various fields. The country has many success stories surrounding corporate governance, corporate social responsibility, social awareness of stakeholders, preparing sustainability reporting under globally accepted method-GRI (Global Reporting Initiative) and leadership with green banking being one of the most notable initiatives. In 2011, Bangladesh Bank (‘BB’), the regulatory authority of commercial banks in Bangladesh, issued “Policy Guidelines for Green Banking” to implement and promote green banking activities across the country in three phases.

Sustainable banking is a key driver to confirm the world’s overall wellbeing in accordance with the United Nations Sustainable Development Goals (SDGs) which are to be achieved by 2030. As an integral part of sustainable banking, sustainable development is directly associated with the economic, environmental, and social aspects. Sustainable banking aims for greater development through more promising financing opportunities which need to be sustainable in all of these three aspects. While financial return and risk are the only focus of traditional banking activities, sustainable banking has its focus on the environmental, economic, and social returns emphasizing the transition from the existing narrow shareholder model to the framework of a large volume of stakeholders and aiming at adding long-term value to the broader community.

Bangladesh bank has planned to provide midsize manufacturing firms, exporters, small and medium-sized enterprises (SMEs), and other private sector companies in long-term finances partnering with the International Development Association (IDA) under the Financial Sector Support Project (FSSP) with the goal to facilitate economic development and ensure development outcomes that

are environmentally and socially sustainable. The Environment and Social Management Framework (ESMF) has already been developed to the sustainable finance in banking sector. The facility is available to the concerned business avenues on both refinancing and on-lending terms and will extend opportunities for importing capital equipment and machinery for up-gradation (following health and safety compliance), supporting start-up manufacturing industries, relocating factories or industries to designated industrial zones, purchasing ocean vessels, and specialized delivery vehicles to facilitate the transportation of manufactured goods across the country.

As part of BB’s drive for financial inclusion, school banking facilities have been introduced in November 2010. In 2013, BB introduced ‘Guidelines for School Banking’ which allows any student aged up to 18 years to open a school banking account under the supervision of a legal guardian or parents by depositing only BDT 100/-. In 2014, Bangladesh Bank has also given a guideline to encourage the ‘10 Taka Special Account’ for street urchin and working children with a view to safeguarding their hard-earned cash, securing their future, and making them financially independent.

Agent Banking is another area where Bangladesh Bank has taken initiatives to promote a financial inclusion tool that offers the poor and underprivileged section of the population mostly from remote locations, some tailor-made financial services and products which are available in their vicinity and designed to meet their typical financial needs at a reasonable cost. In 2013, Bangladesh Bank created ‘Agent Banking’ guidelines to accelerate a safe, hassle-free, and secured alternative channel to deliver financial services to the unbanked population which marks a significant initiative to promote sustainable banking in Bangladesh.

Prime Bank is the Torchbearer of sustainability Report in Bangladesh. Committed to Transparency, accountability, ethics and sustainability, Prime Bank has been publishing Sustainability Report since 2013 following GRI Guidelines.

MD. TOUHIDUL ALAM KHAN, FCMA, CSRA, CSP

Deputy Managing Director & Head of SRC


The concept of sustainable banking is keeping on agricultural financing, financial inclusion drives, corporate social responsibility, green banking, micro and small enterprise financing along with many steps for financial inclusion activities. All of these activities and programs are clearly linked with the UN’s SDGs which Bangladesh is working to achieve by 2030. BB’s strategic interventions and policies indicate its intention to support the government initiatives by upholding the agenda of sustainable banking throughout the country.

Sustainability reporting is a vital step for managing change towards a sustainable global economy that combines long-term profitability measuring social justice and environmental care. And a dedicated sustainability report is a reflection of the company’s commitment to the issue of sustainability, which helps companies and their stakeholders to identify a comprehensive reference point for reporting, thereby aligning many of their Corporate Social Responsibility (CSR) initiatives with goals that can be measured and monitored. In case of failure to manage environmental and social effects properly, it may give rise to reputational and/or financial risks in the banking sector. For this reason, firstly it is important to give consideration to environmental and social impact issues just as one does to financial, technical and economic matters in credit assessment process and secondly to make them subject to executive level decisions. Environmental and social risk management involves defining the environmental and social risks that arise in the conduct of banking sector’s core business activities, analysing them during assessment process, identifying the dimensions of potential effects and risk, determining the obligations and practices needed to minimize risk, and taking these last into account in the decision-making process.

Sustainability reporting is being emerged as a common practice of 21st-century business. Where once sustainability disclosure was the province of a few unusually green or community-oriented companies, today it is the best practice employed by companies worldwide. A focus on sustainability helps organizations manage their social and environmental impacts and improve operating efficiency and natural resource stewardship, and it remains a vital component of shareholder, employee, and stakeholder relations.

Peter Drucker, writer, professor and management consultant said, “What you can’t measure, you cannot manage. What you can’t manage, you cannot change”. Sustainability reporting is therefore a vital step for managing change towards a sustainable global economy—one that combines long-term profitability measuring social justice and environmental care. And a dedicated sustainability report is a reflection of the company’s commitment to the issue of sustainability, which helps companies and their stakeholders identify a comprehensive reference point for reporting, thereby aligning many of their CSR initiative with goals that can be measured and monitored.

Mahatma Gandhi said, “Earth provides enough to satisfy every man’s need, but not every man’s greed”. By 2050, if current consumption and production patterns remain the same and with a rising population expected to reach 9.6 billion, we will need three planets to sustain our way of life. As such, living well within planetary boundaries with limited resources giving up our greedy lifestyle will be the most promising strategy for ‘sustainable tomorrow’ and we have also to remember the remarks of ex-UN Secretary-General Ban Ki-moon, “There can be no Plan B because there is no planet B.”

VISIONTo be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management and profitability having strong liquidity.

MISSIONTo build Prime Bank Limited into an efficient, market driven, customer focused institution with good corporate governance structure. Continuous improvement of our business policies, procedure and efficiency through integration of technology at all levels.

CORE VALUES

DeliverHigh standard to our customers, clients and shareholders. We share a passion for serving the financial needs of people, companies and institutional investors.

CommitmentFully committed to achieving success for our customers, our teams and ourselves through compliance with regulatory guidelines.

TrustHave trust in our team. We work together to deliver towards full capabilities to all our constituents. We strive to be consistent and straightforward in our interactions.

SucceedKnow we succeed only when our customers, communities and environment succeed. We do business in an open, direct and sustainable way.

Gold RankBest Sustainability Report inAsia Sustainbility Reporting Rating-2018-14th SRA 2018

for Sustainability Report-2017 by NCSR

Platinum RankBest Sustainability Report inAsia Sustainbility Reporting

Rating-2019-15th SRA 2019 for Sustainability Report-2018 by NCSR

Commendation for First Year Report

Sustainability Reporting Awards 2016for Sustainability Report-2015 by NCSR

SDG frameworkadopted. Target 12.6calls for corporeatetransparency.

GRI SustainabilityReporting Standardslaunched

GRI Communitylaunched

Sector Programlaunched

Tax Standardlaunched

Guidance forcorporate reporingon SDGS launched incollaboration with UN Global Compact

GRI G4Guidelines launched


GRI relocated toAmsterdam

Rio +20 UNConference onSustainableDevelopment

Certified TrainingPartner Programestablished


2015 2013

1997

2016 2017 2019 2020

2012 2008

2000 2002 2006GRI founded in Boston, USA after calls for corporate transparency derived from the Exxon Valdez oil spill

1st version of GRIGuidelines launched

Waste Standardlaunched

VISIONTo be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management and profitability having strong liquidity.

MISSIONTo build Prime Bank Limited into an efficient, market driven, customer focused institution with good corporate governance structure. Continuous improvement of our business policies, procedure and efficiency through integration of technology at all levels.

CORE VALUES

DeliverHigh standard to our customers, clients and shareholders. We share a passion for serving the financial needs of people, companies and institutional investors.

CommitmentFully committed to achieving success for our customers, our teams and ourselves through compliance with regulatory guidelines.

TrustHave trust in our team. We work together to deliver towards full capabilities to all our constituents. We strive to be consistent and straightforward in our interactions.

SucceedKnow we succeed only when our customers, communities and environment succeed. We do business in an open, direct and sustainable way.

Gold RankBest Sustainability Report inAsia Sustainbility Reporting Rating-2018-14th SRA 2018

for Sustainability Report-2017 by NCSR

Platinum RankBest Sustainability Report inAsia Sustainbility Reporting

Rating-2019-15th SRA 2019 for Sustainability Report-2018 by NCSR

Commendation for First Year Report

Sustainability Reporting Awards 2016for Sustainability Report-2015 by NCSR


PRIME BANK PROFILE &REPORT PROFILE

Organizational and Report profileProducts and ServicesSupply Chain ManagementSustainable Procurement


Organizational Profile GRI 102-1, GRI 102-3, GRI 102-4, GRI 102-5, GRI 102-6,GRI 102-7

GRI 102-11, GRI 102-13, GRI 102-41

Prime Bank Limited was incorporated as a public company in Bangladesh under Companies Act 1994 with the registered office of the company at 119-120 Motijheel C/A, Dhaka-1000. It commenced its banking business with one branch from April 17, 1995 under the license issued by Bangladesh Bank

Particulars Details

Name Prime Bank LimitedLocation of headquarter 119-120 Motijheel C/A, Dhaka-1000Number of countries of operation 4 (Bangladesh, Singapore, Hong Kong and UK)Nature of ownership & legal form PBL operating as a public listed company since its inception.Markets served Bangladesh, Singapore, Hong Kong and UK. Other markets are

served through liaisons, not directly through Prime Bank. Total number of employees 3,124Net Sales BDT 14,131.01 MillionAny significant variations in employment number No significant variation in 2019

% of employees covered by collective bargaining agreements No employees are covered under collective bargaining agreements.

Lists of Memberships:

Precautionary approachThe precautionary approach is not applied directly throughout the organization instead PBL assesses loans regarding their impact on the environment or other social factors. The Bank has a lot of contribution towards Corporate Social Responsibility (CSR), and always tries to help preserve the environment and enhance communities throughout the entire country. Hence, PBL takes into environmental and social factors and not only economic factors when it does business with clients.

Report Profile GRI 102-50, GRI 102-51, GRI 102-52, GRI 102-53, GRI 102-54, GRI 102-55, GRI 102-56

External assuranceAs the external assurance service is yet to be started in Bangladesh, the sustainability report of Prime Bank for the year has been prepared based on GRI Standards: In accordance Comprehensive option by Md. Emdad Hossain, CSRS, CSP (Membership No. 20181068) and H.M.Sarwar Maruf CSRS, CSP (Membership No. 30182007) the two certified specialist on sustainability reporting and which is reviewed and internally assured by certified assurer Md. Touhidul Alam Khan, FCMA, CSRA, CSP (Membership No. 30182009). The internal assurer has assured that-

� The level of accuracy of data included in the Prime Bank Sustainability report 2019 is fare and acceptable.� The sustainability report was prepared “In accordance” with GRI Standards option- Comprehensive.� The overall report content and quality were well established.� The level of Sustainability performance information in the report was found to be acceptable.� The information has been presented in an appropriate manner.� Most of the personnel responsible were able to reliably demonstrate the origin (s) and interpretations of data contained in the report.� The report provides reasonable and balanced presentation of the sustainability performance of Prime Bank Ltd.

1. Bangladesh Association of Banks2. Metropolitan Chamber of Commerce and Industry3. Bangladesh Institute of Bank Management4. Central Shariah Board for Islamic Banks of Bangladesh5. The Institute of Bankers,Bangladesh(IBB)6. International Chamber of Commerce, Bangladesh7. Association of Bankers,Bangladesh Limited(ABB)8. Bangladesh Foreign Exchange Dealers Association (BAFEDA)9. Bangladesh Association of Publicly Listed Company10. Primary Dealers Bangladesh Limited (PDBL)

11. Dhaka Stock Exchange Ltd.12. Chittagong Stock Exchange Ltd.13. American Chamber of Commerce in Bangladesh14. Islamic Banks Consultative Forum IBCF 15. Japan Bangladesh Chamber of Commerce and Industry16. Central Depository Bangladesh Limited17. Gulshan Club18. Dhaka Club19. Kurmitola Golf Club

Reportingperiod:

For the year 2019 (January to

December 2019)

Date of the mostrecent previous report:

January to December, 2018 (Sustainability

Report 2018 Published in June ‘19)

Reporting cycle:

Annual

Contact point:

Md. Touhidul Alam Khan, FCMA, CSRA,

CSP, Deputy Managing Director and Head of SRC

Report in accordance withthe GRI Standards:

“This report has been prepared in accordance with the GRI Standards: Comprehensive

option” and the GRI Content Index is provided at the end of

the report.

PRIME BANK PROFILE &REPORT PROFILE

Organizational and Report profileProducts and ServicesSupply Chain ManagementSustainable Procurement

Islamic Deposit ProductsAl-Wadeeah Current Account (AWCA)Mudaraba Savings Account (MSA)Mudaraba Payroll AccountMudaraba Special Notice Deposit (MSND)Other Mudaraba Deposit AccountsMudaraba Term Deposit Receipt (MTDR)

Single-Installment Based Deposit Schemes Mudaraba Double Benefit Deposit Scheme (MDBDS) Mudaraba Monthly Benefit Deposit Scheme (MMBDS) Mudaraba 150% Deposit Scheme Mudaraba Education Savings Scheme (MESS)Monthly-Installment Based Deposit Schemes Mudaraba House Building Deposit Scheme (MHBDS) Mudaraba Laksma Puron Deposit Scheme (MLPSS) Mudaraba Lakhopati Deposit Scheme (MLDS) Mudaraba Contributory Savings Scheme (MCSS) Mudaraba Hajj Savings Scheme (MHSS) Mudaraba Cash Waqf Deposit Scheme

ServicesPremium Banking “Monarch”Internet Banking “ALTITUDE” Off-Shore BankingSMS BankingPhone Banking through IVRLocker ServicesForeign RemittanceInvestment Bond for NRBsAccounts Facilities for NRBsForex & Fund ManagementMoney Market Services Primary Dealer ServicesATM ServicesPrepaid Cards

Debit Cards Master Debit Card JCB Debit Card Proprietary Debit CardCredit Cards MasterCard Gold Credit Card MasterCard Silver Credit Card VISA Gold Credit Card VISA Classic Credit Card International Credit Card Platinum Credit Card Hasanah Credit Card JCB Credit Card

Fund Transfer SWIFT Foreign Drafts BEFTN BACPS RTGS

Conventional Deposit ProductsCurrent Account Savings Account Short Notice Deposit (SND) Fixed Deposits My First Account (School Banking) Shukonna’ (Female SB Account) Prime Premium

Prime Excel Prime Power Prime DiGi Neera Current AccountNeera Savings Account

Single-Installment Based Deposit Scheme Double Benefit Deposit Scheme Monthly Benefit Deposit Scheme Account 150% Deposit Scheme Brighter TomorrowMonthly-Installment Based Deposit Scheme House Building Deposit Scheme Laksma Puron Deposit Scheme Lakhopati Deposit Scheme Nobagoto Account Contributory Savings Scheme Prime Millionaire Scheme Kotipoti Deposit Scheme Neera Motherhood Scheme Neera Education Savings Scheme Prime Education Savings Scheme

Corporate Loan ProductsWorking Capital FinanceCapital Machinery FinanceReal Estate FinanceWork order FinancingImport and Trade FinanceExport FinanceProject FinanceStructured FinanceLease Finance

Retail Loan ProductsSwapna Neer Home Loan Swapna Shaj Home LoanAbash Home LoanCar LoanPersonal LoanRetail SOD (FO)Retail Secured EMI

Islamic Banking Hasanah(Investments) ProductsHome Investment (Manjeel)Auto Investment (Burak)Household Durables Investment (Asbab)Medical Investment (Shifa)Quard-e-Hasana

SME Loan ProductsAnchol (Women Entrepreneur’s Loan)Chalti Rin (Working Capital Loan)Prime Sampad (Capital LoanSahaj Rin (Collateral Free Loan)Moushami Rin (Seasonal Loan)Prime ShomhabonaPrime Emarat

Agriculture Loan ProductsAbad (Crop Loan)Khamar (Farm/Non-Crop Loan)Nabanno (for any Agri-purpose Loan)

MSME Islamic InvestmentsProductsHasanah ShombhanonaHasanah EmaratHasanah ChaltiHasanah Sampad

Products & ServicesThe banking business are controlled and monitored through its major four segments; Corporate and Institutional Banking (CNIB), Commercial Banking (CBD), MSME banking and Retail banking. Besides conventional mode of business PBL gives parallel emphasis on its Islamic banking wing.


Supply Chain ManagementSupply Chain Management (SCM)

Supply Chain Management (SCM) includes planning and management of all stages that are involved directly or indirectly in fulfilling customer request. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers. In essence, supply chain management integrates supply and demand management within and across the organization. Supply Chain Management is aimed at examining and managing supply chain networks. The rationale for this concept is the opportunity for cost savings and better customer service.

Supply Chain Practice in Prime Bank

Now a days modern banking company needs a number of specialized support services which also needs to be arranged, managed and provided in a very disciplined way so that bank can function smoothly. Facility Management Division (FMD) is a major organ of Prime Bank. It has a significant role in development and business growth of the Bank. At present FMD is a very effective division for the Bank in terms of Just in Time (JIT) service and overall quality output. It is well accepted that without smooth and timely support service, no bank can grow and FMD has been playing vital role to provide such smooth and timely service to the Bank. FMD is engaged in the task of arranging, managing and providing such specialized support services to various functional divisions and branches of the bank so that they can function smoothly and can achieve the institutional goals in a desired and expected manner.

For smooth support services, FMD is responsible for procurement of goods and services from different market segments. Standard work flow chart for procurement of goods/services/works are as follows :

Note: Not all the steps will be applicable for all types of procurement. In a particular case, some of the steps are skipped depending on the situation and requirement.

04

06

01

03 Budget

Tender opening

Approval from competent Authority

Work Order, SLA, AMC

Completion

Clearance from Branch

Inauguration / Operation

O�ce note for payment

Financial AdministrationDivision (FAD)

Pay order for payment

Execution of work/Delivery of item

Quality Control

Tender Evaluation/Market survey

EC (if MD’s financial delegation exceeds)

Proposal to PC/TC

O�ce Note

Requisition/ Assessment of Facility Management Division (FMD)

Tender01. Open Tender02. Close Tender03. Request for Quotation

02 Verification of requirement/Survey of feasibility/Define the scope of work

13

15

07

1009

12

11

14

08

05

19

16

1817


Goods and services are procuring through Request for Quotation (RFQ) or Open Tender Procedure from enlisted and non-enlisted supplier. For selecting and awarding jobs through RFQ or Tender Process, good ratio of quality to cost, terms of delivery and payment are considered. The bidder’s functional capabilities and financial dependability are also taken into account. As per requirement, Bank also includes environmental and social factors among the features that affect its selection of suppliers.

During receiving of goods and services, timelines of services & goods and checking quality based on specification is ensured.

Requisition received for Printed & Security and Table Stationery items through FMD Automations System before delivery. For other items requisition also received through letter or e-mail. In this case FMD maintains JIT (Just in Time) and TQM (Total Quality Management).

Goods delivered to Divisions of Head Office and Branches through courier service, post office or directly by the respective suppliers. Tradeoff decisions between cost and timing of delivery/customer services are considered for transport management. Strategies to ensure deliveries, resolve complaints, improve communications and determine service requirements. FMD also tries to ensure as much as possible that suppliers do not affect the environment, or do not use any child labor or affects the society in any way. The Bank is aware that if it works with unethical suppliers, than a reputational risk arises, hence it is very careful in choosing suppliers to work with.

Bank always adheres to well set payment policies for all suppliers and explain them in details about the payment method and reviews process before providing work order. Before payment settlement, quality, time and user certification is considered.

Conclusion

In spite of so many challenges and limitations, it is the spirit of FMD to provide the desired support services for all branches and divisions of Head Office. FMD feels that it is their duty and responsibility to provide duly and timely support services for Branches and Divisions of the Bank under any circumstances.


Sustainable ProcurementPrime Bank realizes procurement practices have both economic and environmental impacts on communities and are therefore committed to supporting local and environmentally-responsible suppliers.

Sustainability Screening of Suppliers

The engagement and scrutiny of a substantial number of suppliers requires considerable resources, however, Prime Bank have introduced checkpoints through its procurement processes so as to ensure a minimized impact on environment in addition to cost reductions. The Facility Management Division (FMD) often engages with suppliers to achieve these objectives and values through raising awareness to sustainable procurement and moreover through supporting them in their social and environmental contributions. Prime Bank has revised its procurement policy and outlines the requirements for suppliers to conduct their business in alignment with the Bank’s ethical standards. This policy includes clauses covering employment, health and safety, as well as environmental standards.

Supporting Local Procurement

The Bank continued to support the national economy in 2019 by contracting with locally based suppliers. In 2019, our local suppliers represented 96.15% of our total spending on suppliers.

Performance of2019

Percentage of LocalProcurement

Spending 96.15%

Total Number ofLocal Suppliers

424

Total Number ofSuppliers

441

MATERIALITY DISCLOSURES &STAKEHOLDERS ENGAGEMENT

Materialty Process & BoundariesStakeholders EngagementMapping of StakeholdersCommunication Channel among Stakeholders


MATERIALITY DISCLOSURES &STAKEHOLDERS ENGAGEMENT

Materialty Process & BoundariesStakeholders EngagementMapping of StakeholdersCommunication Channel among Stakeholders


Materiality Process And BoundariesAs the Bank aims to advance its position as a leader in sustainable business operations, and in order to increase our positive impact on the community, we have identified the most material sustainability aspects based on understanding our stakeholders’ needs and priorities. Comprehensive assessment takes place on an annual basis to identify and categorize the sustainability topics that are most relevant to our operations and our stakeholders based on the stakeholders’ mapping exercise. The main material topics have been outlined below are in alignment with our six sustainability focus areas. With regards to this year’s Sustainability Report, the report describes all activities of the Bank in Bangladesh, and does not address its subsidiaries (both locally and internationally). Also, the Sustainability Report mostly focuses on the operations of the head office and sometimes in its branches as well. When the report is only mentioned for head office, it is clearly stated in the report.

Sustainability at Prime Bank

The Bank’s vision is to excel at safeguarding and augmenting the financial wellbeing of people, businesses and communities. As a financial institution, PBL play an essential role in aiding economic and social development, supporting jobs, growth, innovation and prospects for people and businesses. The Bank understands that the decisions we make have an influence and that we are in a distinctive position to use our proficiencies and resources to make an encouraging contribution beyond our core business.

Demonstrating PBL’s progress and commitment to corporate responsibility is increasingly important not only for the Bank’s own people and community partners, but also for the organization’s customers, shareholders and investors. In addition, the Bank is committed to continually revising its policies, procedures and strategies in light of our environmental, social and economic impacts. At PBL, we believe in being the leaders in what we do and meeting the highest standards. In line with this philosophy, we have prepared this report in accordance with the GRI Standards: Comprehensive option. Our self-assessment against the GRI Standards is provided towards the end of the report.

Entities included in the annual report and sustainability report GRI 102-45

The entities that have been included in the annual report are Prime Bank Limited and all its subsidiaries. For the context of the sustainability report, Prime Bank’s branches and Head Office have been considered in most cases, exceptions have been stated otherwise. The reasons for omission of its subsidiaries are the fact that they are very small in operation and do not materially affect the bank’s activities. So in regard to this report, only Prime Bank (branches and Head Office) are taken into consideration.

Scope and framework of the reportThe report contains the social, economic and environmental initiatives of PBL. The various aspects mentioned in the GRI Standards and topic specific disclosures were evaluated and considered material based on their significance to our business operations and to our stakeholders in accordance with the updated Global Reporting Initiatives which contributed to defining the report content and communicating achievements during the past year.

Defining Report Content and the topic Boundaries GRI 102-46

We improved our materiality process by conducting additional research during the issue identification step, creating a prioritization methodology tool, and consulting with our internal stakeholders in this prioritization. This has resulted in the creation of our materiality matrix, which provides more details on the prioritization of material issues in three categories; highly significant, significant, and less-significant issues. Below is a description of each of the materiality steps the Bank conducted, which are aligned with the GRI Standards.

1. Identification: To complete this step, we identified a list of possible topics, and then selected the most suitable ones and grouped them into our five main sustainability focus areas. The resulting list of topics was used in Step 2.

2. Prioritization: We developed a tool to depict the importance of each of the identified issues in Step 1. This tool presents the importance of each issue on two levels; importance to Prime Bank economic, social and environmental business decisions and importance to our stakeholders. A Matrix was developed by a targeted survey which shows material sustainability issues within low, medium, and high significance thresholds.

3. Validation: The results of Step 2 were reviewed and approved by Prime Bank Sustainable Finance Committee. The Bank’s most important issues, the associated metrics, are listed in the GRI Index on page 109.

4. Review: We acknowledge that the sustainability environment is from a changing nature, and therefore so are its related material issues for our business and stakeholders. We welcome any feedback on our sustainability reporting to integrate into our materiality process for next year’s sustainability report.

Significant changes from previous reporting periods in the Scope and Topic Boundaries GRI 102-49 There have been no significant changes in the reporting period in the Scope and Topic Boundaries for this year. It can also been seen throughout the report that nearly all our material topics are similar to last year.

Effect of any restatements of information provided in previous reports GRI 102-48

There has been no significant restatement of any information during the compilation of this report. All information is relevant for the year 2019, and there have been no significant restatements. If there are any restatements, it is because the matter is still material as it was before.


Ensuring the best long-term outcome for

customers and doing so in an open and

comprehensive manner

Transparency andlong-term approach

in customerrelationships

Responsible investment of customer’s capital to promote favorable

returns while taking consideration for the environment, social

responsibility and ethics

Responsibleinvestments

Helping to improve society in a positive

direction by preventing ill-health and social

segregation

Socialresponsibility

Environmentalresponsibility

Reducing our environmental impact

Creating a workplace and culture distinguished by health, development and

diversity

Long-termemployer

BusinessEthics

Building trusted relationships with

suppliers and partners by adhering to laws and

regulations, and acting in an honest and fair manner in general.

Six areas that summarize Prime Bank’s most material topics

List of Material Topics for Sustainability Reporting at Prime Bank LimitedGRI 102-47, GRI 103-1

With regards to PBL, the material topics represent four content areas (the best interests of the customer, empowering society and the community, employees’ quality of life and wellbeing, and inhabiting with the environment), which describe impacts on all of the bank’s stakeholders. Material issues are those that reflect our organization’s most significant environmental, social and governance impacts, or those that influence the assessments and decisions of our internal and external stakeholders. As a result of our materiality process, we have identified 19 material sustainability issues. The material issues for the sustainability report are listed below:

01

1. Promotion of financial independence for customers (Supplying information, products and tools, independently tailored serviceand consulting, and financial education)

2. Customer diversity and promotion of sectors within the Bangladesh economy (Advancement of small and medium-sized organizations)

3. Attaining financial freedom in a multichannel world (Banking services via Internet, mobile, and telephone, offering customers’ better access and increased control over financial management)

4. Serving a diverse range of clients(Encouraging a perception of excellence in service to every customer segment)

5. Availability (Making the buildings and branches of the bank as well as banking services reachable to people with disabilities)

6. Evolving products and services to encourage environmental sustainability (Funding for ventures that encourage environmental causes)

7. Analyzing environmental risks in financing (Supervision of environmental risks when giving finance)

1. Promotion of financial independence for customers (Supplying information, products and tools, independently tailored serviceand consulting, and financial education)

2. Customer diversity and promotion of sectors within the Bangladesh economy (Advancement of small and medium-sized organizations)

3. Attaining financial freedom in a multichannel world (Banking services via Internet, mobile, and telephone, offering customers’ better access and increased control over financial management)

4. Serving a diverse range of clients(Encouraging a perception of excellence in service to every customer segment)

5. Availability (Making the buildings and branches of the bank as well as banking services reachable to people with disabilities)

6. Evolving products and services to encourage environmental sustainability (Funding for ventures that encourage environmental causes)

7. Analyzing environmental risks in financing (Supervision of environmental risks when giving finance)

02

8. Responsible supply chain management (Incorporating CSR and sustainability factors into procuring activities)

9. Growing our area of influence (Direct and indirect economic and social effects on the Bangladeshi economy and society)

10. Community action (Spending in the community, as well as funding of community activities and donations)

03

11. Encouraging a culture of conversationand openness with employees (Arrangement of channels for intra-organizational dialogue with employees)

12. Promoting diversity, equal opportunities, and clarity(Promotion of gender and sector equality, prevention of discrimination, and promotion of diverse employment)

13. Personal development and training (Arrangement of training and learning at the bank)

14. Supporting an appropriate work environment (Policies on human capital, remuneration and benefits, and wellbeing and caring for employees in several aspects of the work environment and of their lives)

11. Encouraging a culture of conversationand openness with employees (Arrangement of channels for intra-organizational dialogue with employees)

12. Promoting diversity, equal opportunities, and clarity(Promotion of gender and sector equality, prevention of discrimination, and promotion of diverse employment)

13. Personal development and training (Arrangement of training and learning at the bank)

14. Supporting an appropriate work environment (Policies on human capital, remuneration and benefits, and wellbeing and caring for employees in several aspects of the work environment and of their lives)

0518. Corporate governance and ethics (Presentation of the composition and activity of the board of directors, and assimilating ethics at the bank)

19. Prevention of corruption and money laundering (The bank’s assurance to the prevention of corruption, and presentation of the activity of the bank’s compliance unit)

0415. Power consumption management and energy efficiency (Management of activities intended at lowering the bank’s consumption of energy)

16. Controlling of paper resources (The bank’s determination to reduce the consumption of paper in its operations)

17. Decreasing environmental impacts (Environmental management of the bank and reduction of its environmental effect)


Presentation of Material Topics for the Report in Terms of Social, Economic, and Environmental ImpactsThe following diagram presents all of the material topics reported by Prime Bank based on two points of view:

Impact Zone – Internal or External- does this aspect affect external stakeholders, internal stakeholders, or both (the external circle versus the internal circle in the diagram)

Impact Zone – Social, Economic and Environmental- does this aspect affect create economic, social or environmental value, or a combined value.

Customers1. Promotion of financial independence for customers

2. Customer diversity and promotion of sectors within the Bangladesh economy

3. Attaining financial freedom in a multichannel world

4. Serving a diverse range of clients

5. Availability

6. Evolving products and services to encourage environmental sustainability

7. Analyzing environmental risks in financing

Community8. Responsible supply chain management

9. Growing our area of influence

10. Community action

Employees11. Encouraging a culture of conversationand openness with

employees

12. Promoting diversity, equal opportunities, and clarity

13. Personal development and training

14. Supporting an appropriate work environment

Environment15. Power consumption management and energy efficiency

16. Controlling of paper resources

17. Decreasing environmental impacts

Ethics18. Corporate governance and ethics

19. Prevention of corruption and money laundering

ENV

IRO

NM

ENTALEN

VIR

ON

MENTAL

SOCI

AL

SOCI

AL

910

ECONOMICECONOMIC

86

5

12

34

Outside Influence (Value creation tier)Outside Influence (Value creation tier)

(Resource management tier)

Inside Influence

7

16

15

17

19

18

12

14

11

13


1. NO POVERTY Work on fighting poverty through the Bank’s CSR activities.

3. GOOD HEALTH AND WELL-BEINGThrough Prime Bank Eye Hospital to advance the medical coverage reach, especially for the underprivileged, with a focus on Eye patients, in addition to working on promoting healthy lifestyle among employees and enhancing their wellbeing.

4. QUALITY EDUCATION To invest in the development of the educational infrastructure in Bangladesh and develop education programs that will ignite the highest potential for impact on learning and society. Education Support Programme (ESP) such as Scholarship/Stipend, Prime Bank English Medium School and Prime College of Nursing, Dhaka2 are the major initiatives of Prime Bank through Prime Bank Foundation.

5. GENDER EQUALITYWe have zero-tolerance policy against any kind of discrimination based on gender. We also ensure gender balance in the hiring practices.

7. AFFORDABLE AND CLEAN ENERGY We actively seek opportunities to support and finance environmental infrastructure projects in our community. Additionally, we focus on promoting efficient practices in our operations that will reduce our environmental footprint.

8. DECENT WORK AND ECONOMIC GROWTHWe continue to have a positive impact by maintaining healthy growth and profits, while contributing to the economy indirectly through hiring, training and promoting local employees and ensure they have fair wages and benefits. Additionally, the Bank will continue to support the local economy through contracting with local suppliers.

9. INDUSTRY, INNOVATION AND INFRASTRUCTURE We continue to support the local economy through our financial activities, including SMEs, with a focus on digital innovation. This will yield a sustainable and strong industrial activities that will provide job opportunities and growth in local talents.

12. RESPONSIBLE CONSUMPTION AND PRODUCTIONWe continue to promote awareness on the benefits of implementing sustainability practices in businesses, while reporting back on those efforts in the form of sustainability reporting.

17. PARTNERSHIPS FOR THE GOALS We support civil society activities that contribute to employability and job creation, while supporting spreading sustainability implementation and reporting in Bangladesh.

Responding to Global Sustainability ChallengesPrime Bank And The Sustainable Development GoalIn our 2018 Sustainability Report, we began connecting our reporting to the SDGs, which are 17 global goals set by the United Nations General Assembly in 2015 and a core part of the 2030 agenda for sustainable development. In this report, we outline in more detail how our activities and sustainability approach relate and contribute to the SDGs. While our work covers many SDGs, we directly reference only those where we can describe specific contribution following the guideline issued by the GRI and UN Global Compact “Integrating SDGs into Corporate Reporting: A Practical Guide”.

Spotlight


Engaging Our Stakeholders Stakeholder engagement is embedded into Prime Bank’s practices, operations and processes. To achieve the desired goal together, Prime Bank involves all its stakeholders in the business management and decision-making process, as well as determining the Bank’s strategic direction. Prime Bank defines stakeholders as groups that have an impact on and/or are affected by Bank’s operations. A ‘stakeholder’ is more clearly defined as any group or individual who can affect or be affected by the achievement or non-achievement of the objectives of the Bank. Through various kinds of involvement, Prime Bank is able to align its business strategy direction with the expectations and needs of all stakeholders.

We understand that it is important to look at our business from our stakeholders’ perspective and to find areas where our agendas overlap. This means listening to and working with our stakeholders across the country/globe and being very clear about our intentions and priorities. We define anyone who comes into contact with the Bank as a stakeholder. Our engagement processes ensure that stakeholders have direct contact with the bank, so that we can respond to issues that may arise, and that we are able to take account of stakeholder views in our ongoing and long term decisions. We consider ongoing, open dialogue and relationships of trust, integrity and respect as the markers of successful stakeholder engagement.

The Board is open to suggestions, recommendations or advice from any stakeholder and welcomes appropriate and constructive engagement from all those who have an interest in the Bank. Prime Bank maintains regular engagement with key stakeholder groups. A number of avenues have been established to facilitate communications between the Board and shareholders, employees and other stakeholders.

We believe that by continuing to engage and listen to the aspirations of our stakeholders, Prime Bank can continue to grow, help communities to progress and increase sustainability. Prime Bank has a method of multi stakeholder engagement; we want to make sure every stakeholder can easily, comfortably and effectively present their opinions, ideas and concerns. Prime Bank also ensures that this input is clearly understood. Throughout 2019, Prime Bank was engaged with the following stakeholders:

Stakeholders Overview [GRI 102-40], [GRI 102-42]

Stakeholder Group Their Concern Our Responsibilities

Shareholders and Analysts

� Dividends and share value

� Performance and integrity of the Board and management

� Public goodwill and reputation of the Bank

� Stable Ratings of the bank based on overall financial performances

� Generate profits and ensure optimal return on investment

� Proper oversight and control of the Board and management

� Bank’s Code of Conduct, management oversight and response

� Public affairs management� Maintained consistent ratings through

financial commitments

Bangladesh Bank and other regulators

� Good corporate governance and business ethics

� Legal compliance

� Support for government policy

� Develop and communicate a framework that promotes good governance and ethical behavior at all levels

� Contributed Tk.4,925.87 million to National Exchequer which significantly contributed to Government’s revenue collection.

� Ensure compliance at all times� Providing timely and accurate information� Immediate response to queries made by

authorities� Comply with rules and regulations

Customers

� Dealing with PBL is a positive experience� Information provided by the Bank

is accurate and reliable� Customers’ privacy is assured� Promises to customers are kept� Product Information, Affordability

and Convenience� Product variation according to

market demand� Strict Shariah compliance in

Islamic products and services

� Protect the privacy of our customers, including data protection and confidentiality

� Provide a positive customer experience� E-products like mobile apps, EGP service,

E- commerce, E- payment solution, internet banking

� ALCO sits every month to decide pricing and rates based on market analyses

� Comply with company values and Code of Conduct


Employees

� Health, safety and well being

� Talents and performances development

� Regular training

� Performance driven career progression

� Ensure that we properly safeguard those who work for us and those who may be affected by our operations

� 2,820 hours of training to 7,860 human capital in 2019

� Promoting and maintaining an amicable relationship with all employees

� Shape future leaders

� Recognize exceptional performers

� Ensuring all employees have a proper work life balance

� Investment on Human Resource Information Systems

Society� Social Investment

� Do our part to improve the quality of life for all members of society

� Investment on citizens� Investing in entrepreneurs� Addressing rural youth

� Empowering women

� Encourage people for saving

Suppliers� Supply chain functions well

� Supply chain is sustainable

� Work with suppliers to address issues in the supply chain

The Bank’s Business & Social Responsibility begins with open dialogue with our stakeholders and hence steps have been taken to strengthen this dialogue by enabling closer connections with our stakeholders. The stakeholders identified on this basis together with topics of engagement, the method and the frequency of engagement are presented in the following tables:

Frequency of Dialogue With Stakeholders [GRI 102-43]

Stakeholder Communication channels Frequency of dialogue

Shareholders and Analysts

General Meeting of Shareholders

Conferences

Meetings

Stock exchange and press releases

Contact through Internet, e-mail and phone

Periodic Meetings

Once a year

Several times a year


Ongoing

Ongoing



Periodic Meetings

Regular Reports

E-Mail

Phone Calls

Website


Several times a year Ongoing

Ongoing

Ongoing

Customers

Branches Website

Information on statement

Satisfaction Surveys

On a daily basis

Ongoing


Monthly/quarterly/yearly and ad hoc

Employees

Intranet

Website

Internal Meetings

Corporate Events

E-mail

Ongoing

Ongoing


Quarterly/Annually

Ongoing


Society

Website

Competition and training

Conferences and seminar

Meetings

Ongoing

At least a dozen a year

At least a dozen a year


Media

Website

Press Conference

Press Release

Telephone

E-mail

Ongoing



Ongoing

Ongoing

SuppliersPeriodic Meetings

Phone calls and emails


Ongoing

Stakeholders’ Issues Raised And Actions Taken [GRI 102-44]

Stakeholders Issues Raised Action Taken by PBL

Shareholders

Transparent activity, swift and smooth access to following information regarding the Bank:

Plans to raise capital to improve capital adequacy ratio

Plans to improve provision cover Plans to improve cost income ratio Plans to upgrade credit rating Privilege cards to shareholders

Maturity mismatches and plans to bridge the gaps

Holding the Annual General Meetings at a time convenient to shareholders to facilitate maximum participation

PBL ensures that the annual reports have been presented in the most transparent way possible. The bank makes sure that there is efficient exchange of information through communication with shareholders.

We have established a transparent and close communication with our shareholders, as well as with our existing and prospective investors. We make every effort to implement strategic plan aimed at achieving Vision and Mission of the Bank and to share the results. Principle of equality is our utmost consideration for us. We response to all concerns of shareholders provided they are not related to commercial secrets with a view to ensuring the management and shareholders maintain ongoing dialogue. We value the principles of transparency, accountability, and look for regular briefings.


Maintaining relationships with key regulators and policy makers in a changing environment.

Proper compliance with guidelines set by authorities.

Submitting reports on a timely basis according to guidelines.

VAT and tax calculations submitted precisely and timely.

Other Government regulations including taxes.

SMEs’ access to finance.

The role of business in society.

Various issues that affect the well-being of Bank employees.

International financial developments.

PBL Continues to build and strengthen relationships with regulators and Government policy makers through regular meetings with senior executives.

We take utmost care in complying with all applicable laws and regulations to ensure the safety of the customers’ investments. The Bank maintains regular dialogue with regulators with a view to assuring regulatory compliance and strengthening the relationship with other public and professional institutions.

PBL follows forums, conferences, and press news to ensure that the bank is up to date with all legislations.


Employees

Steadiness of employment and professional growth opportunities, fair salary and bonuses and responding to requests submitted by employees. Key points may be mentioned as under:

Remuneration including performance-based compensation.

Staff welfare.

Implementing and managing the ‘Social and Environmental Management System’ (SEMS) at the Bank.

Implementing anti-money laundering practices.

Whistle-Blowing Mechanism.

Prime Bank believes that high motivation and satisfaction levels of employees are of fundamental importance in ensuring sustainable business performance. Target driven culture of the Bank which rewards employees based on the degree of achievement of the pre-set targets for both the Bank and the individuals assure the accomplishment of the objectives of both, efficiently and effectively. In addition, the Bank organizes training and awareness sessions and sends circular instructions with a view to increase awareness of our employees on various sustainability issues embedded in the SEMS.

Customers

Quality of employee interaction and service: professionalism, respect for customers,

transaction time, etc.

Customer convenience factors such as branch layout, availability of staff, etc.

Customer expectations and demands with respect to facilities such as utility bill payments and other regular payments such as insurance premiums, school fees, credit cards, etc.

Interest rates, securities, terms and conditions etc.

Safety of deposited fund and ease of communication with the Bank.

Amicable resolution of customer disputes.

Customer satisfaction is utmost importance to us. Opinions and expectations of our customers inspire us in developing new products and services. We take every effort to delight our customers which ranges from improving information security to responsible marketing communication, innovative and environment-friendly products, and supporting customers in business development. We conduct periodic surveys to learn about our customer satisfaction level and to get their views on improvements in level of services to delight them.

A team has been formed as ‘Complaint Management Team’ of the Bank who will act with the objective of satisfactory settlement and resolution of complaints/disputes put forward by customers.

Suppliers

Unbiased rules for selecting and co-operating with suppliers.

Ensuring that payments are made on a timely basis.

Regular review of supplier performance by Chief Operation Officer.

PBL uses impartial procedures for selecting vendors. It also ensures timely performance of agreements from vendors. PBL has a formal procedure to make sure payments are made on a timely basis and also keeps constant contact with suppliers.

Regular review of contract performance includes compliance with terms & conditions mentioned in the work order/purchase order.

A sample of suppliers is selected for screening by the ‘Internal Control & Compliance Team’ to identify our highest risk suppliers for review and potential remediation.

Society

Supporting social projects. PBL provides financial funding for social projects with emphasis on co-operation with universities. PBL encourages employees to take part in social campaigns.

Environment

Reducing the negative impact on the environment.

PBL continually monitors its impact on the environment and takes all measures to reduce the impact on the environment as much as possible.


Mapping of Stakeholders GRI 102-42

Mapping of Stakeholders GRI 102-42

Prime Bank Limited identifies stakeholders on the basis of which stakeholders have an impact on the activities of PBL and the impact that PBL has on the stakeholders. This allows the bank to identify key stakeholders that interact with the organization.

It was identified that shareholders, Bangladesh Bank and other regulators, employees, customers, suppliers, society and the natural environment were key stakeholders for the bank.

Impact of the Stakeholders on the activities of PBL

MediumLow

Impa

ct o

f PBL

on

the

Stak

ehol

ders

Med

ium

Hig

h

High

Focus Inform Monitor Support

Shareholders

Financial AnalystsAuditors

Public Opinion

NGO

Media

Customers

Employees

Bangladesh Bank andother regulators

Suppliers

Society

Students

Business Organization

Environment

Competitors


Employees Intranet Website Internal Meetings Corporate Events E-mail

Suppliers Periodic meetings Phone calls E-mail

Shareholders and analysts Annual General Meeting Conferences Meetings Stock exchange and press announcements Website E-mail Phone calls

Media Website Press conferences Press releases Telephone E-mail

Bangladesh Bank andother regulators Periodic meetings Regular reports E-mail Phone calls Website

Society Website Competitions and training Conferences and seminars Meetings

Customers Branches Website Information on Statement Satisfaction Surveys

Communication ChannelAmong Stakeholders of

Prime Bank Limited


Agent BankingDigital FinanceImpact in Sustainable Development Goals

TRANSFORMATION OF PRIME BANKTOWARDS DIGITAL BANKING ANDITS ROLE IN THE SUSTAINABLEDEVELOPMENT


Transformation of Prime Bank towards Digital Banking and Its Role in the Sustainable DevelopmentThe digital revolution has been transforming the world’s financial systems, including Bangladesh. This is true not only for the customer experience, but for the overall system at every level that include how financial institutions manage their operations, how investors analyze risk and make decisions, how capital markets move, and how policymakers approach their work.

Prime Bank Limited constantly focus on understanding and anticipating customer needs. As the banking scenario undergoes changes so is the Bank and it repositions itself in the changed market condition. In this regard, Prime Bank has been working on different digital finance concept and use of emerging technologies that shall help more efficient banking operations, informed decision making which eventually will offer maximum convenience for the end customers to access financial services.

Agent Banking

Prime Bank is going to introduce Agent Banking very soon with the goal to include the financially excluded; particularly those citizens or enterprises located in rural areas. Digital channels shall be an integral part of Prime Bank’s branchless banking agent network offering.

The exclusion of a large percentage of people from formal financial services is a chronic problem for many modernizing economies, including Bangladesh. Exclusion makes individuals and households vulnerable to a range of risks such as overreliance on or exploitation by informal money lenders. Exclusion also creates risks at a macroeconomic level if key sectors become saturated with unregulated financing schemes. Enhancing financial inclusion, therefore, is not only a development objective but a strategic pillar for broad, sustainable economic growth.

The primary problem Prime Bank’s agent banking model shall address is proximity and accessibility. Appointed agents shall be physically closer to remote populations and many operate out of pre-existing locations that are well-established and known to local communities. The second problem that we shall address is product availability. Unlike earlier deployments in Bangladesh, Prime Bank shall provide customers with access to the full complement of banking services and financial products along with new digital experience. Agents shall offer deposits, withdrawals, savings, payments, money transfers, credit, lending, insurance and many more. Another problem Prime Bank shall address is pricing and affordability. The combination of digital solutions and reduced infrastructure costs shall allow Prime Bank to offer rural customers maximum convenience along with limited transaction or servicing fees. Finally, Prime Bank shall address the need for financing and transaction services within different value chains through its Agent Banking.

OvercomingPoverty

Growth of alternatemicro economy

Paralleleconomic

development

EmpoweringPeople

SocialStability

WhyFinancialInclusion?

Agent BankingDigital FinanceImpact in Sustainable Development Goals

TRANSFORMATION OF PRIME BANKTOWARDS DIGITAL BANKING ANDITS ROLE IN THE SUSTAINABLEDEVELOPMENT


Digital Finance:

Different technologies that include artificial intelligence, mobile platforms, blockchain, and other emerging technologies have been demonstrating its ability to address the service access and delivery barriers and promote sustainable, inclusive economic growth. These very technologies are bringing the convergence of banking, lending and payment services space. The ability to assess risks is also an important aspect of digital finance.

Prime Bank have been exploring such new technologies to bring innovations in the products and services offering and bring improve efficiency in the operational processes. Prime Bank believes that digital finance endeavors shall make large amounts of data available more quickly at lower costs, increasing transparency and access to information related to sustainable investments. It shall also promote greater inclusion and innovation, increasing opportunities for all populations segments’ participation in the financial value chain and unlocking new sustainable business models. This very attempts from Prime Bank shall reduce search costs for information related to environmental, social and financial impacts and risks, improves measuring, validating and tracking the ‘greenness’ of investments, and facilitates regulatory compliance. Digital finance shall also unlock greater inclusion and innovation. The interaction between innovations in digital finance and the real economy creates new business models that make investment in sustainable sectors commercially viable. Prime Bank have been working persistently in enhancing technological ability to solve problems throughout the customer life cycle. Technologies make it possible to get good data, ensure its safety, and protect privacy of information. Prime Bank have strong and robust technology setup in order to prevent data leakage and violation of customer privacy. Data collected from customers are stripped of sensitive information and encrypted through technology as well.

Impact in Sustainable Development Goals:

It’s been realized that digital finance that include mobile financial services, agent banking, financial services through mobile platforms could contributes directly to 13 of the 17 United Nations (UN) Sustainable Development Goals (SDG) by, for example, providing financial services to individuals and small businesses that would otherwise be financially excluded; enabling access to electricity, water and sanitation (e.g. via mobile pay-as-you-go solutions); by facilitating access to low-cost remittances; by providing means for parents to pay school fees; and by facilitating cash transfers during emergencies.

On the other hand, according to ‘Digital Technologies for Mobilizing Sustainable Finance’ report from Sustainable Digital Finance Alliance, digital transactions are up to 90 per cent cheaper to process than traditional transactions. Worldwide, digital financial services can turn 1.6 billion of the 2 billion unbanked people into formal financial customers by 2025. That, in turn, would add US$4.2 trillion to the balance sheets of providers, 95 million additional jobs and US$3.7 trillion added to the GDP of emerging economies.

Prime Bank have strong focus on this very digital movement nationwide as well as countrywide and would like to contribute at its maximum in achieving a broad, sustainable economic growth in the country. Given the new competitive market landscape and its accelerated pace of change, Prime Bank management understand the importance of improving digital innovation performance, and how it can help in sustainable development.

TRANSFOMING OURWORLD

THE 2030 AGENDA FORSUSTAINABLE

DEVELOPEMENT


CORPORATEGOVERNANCE

Corporate GovernanceEthics and Integrity


Corporate GovernanceGRI 102-18 , GRI 102-19, GRI 102-20, GRI 102-21, GRI 102-22

GRI 102-23, GRI 102-24, GRI 102 - 25, GRI 102-26, GRI 102-27

GRI 102-28, GRI 102-29, GRI 102-30, GRI 102-31, GRI 102-32

GRI 102-33, GRI 102-34, GRI 102-35, GRI 102-36, GRI 102-37

The Board of Directors of Prime Bank Limited recognizes the importance of good corporate governance and is committed to ensure the sustainability of the Bank’s business and operations by integrating good governance ethics and business integrity into the strategies and operations of the company. The Board also believes in adopting not only the Corporate Governance Code 2018 of Bangladesh Securities and Exchange Commission but also the best practices in the area of Corporate Governance and follows the principles of transparency and accountability, thereby protecting the interests of its stakeholders. The Board considers itself a trustee of all shareholders /members and acknowledges its responsibilities to the shareholders for creating and safeguarding their assets.

Corporate Governance Framework

The corporate governance framework of Prime Bank Limited focuses on the basic principles & best practices outlined in applicable laws of the land, circulars/orders/notifications issued by Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC), and local & global best practices.

Board of Directors

The Board of Directors of Prime Bank Limited plays a fundamental role in determining governance structure & practices through choice of strategy & guidance to drive the Bank. Design & implementation of governance mechanism including selection & appointment of members of subcommittees of the Board and senior management rests primarily on the Board. The diverse Board of Directors of Prime Bank Limited comprises of 20 experienced & knowledgeable members, of which 4 are independent directors and 3 are female directors. Under their dynamic stewardship, the Board as a whole provides strategic direction to the Management for achieving its vision complying all applicable regulatory & ESG (environmental, social and governance) requirements, and creating value for all stakeholders. Election, appointment / reappointment, and retirement of Directors are primarily governed by relevant provision/ clause of Articles of Association of the Bank, Companies Act 1994, Bank Company Act 1991, Corporate Governance Code 2018, and circulars from Bangladesh Bank. The Directors follow the code of conduct in compliance with relevant circulars of Bangladesh Bank and notification from Bangladesh Securities and Exchange Commission (BSEC) time to time.

Board Committees

In compliance with BRPD Circular Letter No.11, dated 27 October 2013 and Corporate Governance Code 2018, four (4) sub-committees (Executive Committee, Audit Committee, Board Risk Management Committee, and Nomination & Remuneration Committee) were constituted to assist the Board in discharging its responsibilities. However, activation of NRC has been put on hold as the matter is under review by Bangladesh Bank (primary regulator of bank companies) vide letter no. BRPD(R-1)717/2018-9489 dated 18 December 2018 and requires further clarification on apparent conflict with BRPD Circular Letter No.11, dated 27 October 2013 with regard to number/formation of committees by the Board of Directors. These Board Committees, in accordance with its defined terms of references, review & appraise in its respective areas and then advise & make recommendations to the Board. The minutes of the meetings are reviewed by the Board and recorded. Notably, the Board appoints the members and Chair of each Committee.

Meeting of different committee of board during the year 2019

Name of the committee Number of members comprisesin the committee

Name of the meeting Number of meeting heldduring the year 2019

Board of Directors 20 Board Meeting 10

Executive Committee (EC) 7 EC Meeting 9Audit Committee

4 Audit CommitteeMeeting 9

Risk Management Committee (BRMC) 4 BRMC Meeting 5

Independent Director

Prime Bank Limited has complied with the Corporate Governance Code 2018 with regard to composition of the Board. All independent directors, are free from any business or other relationships with the Bank that might materially interfere with or affect the exercise of their independent judgment.


Chairman and Managing Director & CEO

The Chairman is responsible for the leadership of the Board, for ensuring its effectiveness in all aspects of its role and also for facilitating the productive contribution of all Directors. The brief profile of the Chairman is shown on page 41. The Managing Director & CEO has overall responsibility for ensuring and enhancing the performance of the Bank’s business. He provides leadership to the Bank to ensure successful planning and execution of the objectives and strategies. In compliance with the requirement under applicable circulars of Bangladesh Bank and Corporate Governance Code 2018, the roles of Chairman and Managing Director have been clearly defined by the Board of Directors.

Management Committee

The Management Committee of Prime Bank Limited, chaired by Managing Director & CEO, comprises eleven key senior executives entrusted with the responsibility for dayto-day management of the Bank. They serve the interests of the Bank for achieving achieve sustainable growth and implementation of code of conduct as prescribed by its primary regulatory authority, Bangladesh Bank.

Company Secretary

To ensure effective assimilation & timely flow of information required by the Board and to maintain necessary liaison with internal organs as well as external agencies, the Board has appointed Company Secretary in compliance with the Corporate Governance Code 2018.

Internal Controls

The Board is responsible for instituting a system of internal controls to ensure the effective implementation of all policies and decisions of the Board. Accordingly, they delegated the responsibility of establishing and implementing a system of internal control appropriate to the business environment in which the Company operates to the Management. The Board ensures maintaining of full & effective control of all significant strategic, financial, organizational and compliance issues. The Bank has an Internal Audit Department headed by the Head of Internal Audit, who ensures implementation of internal audit function throughout the Bank and reports to the Audit Committee of the Board. The work of the internal auditors is focused on the areas of risk to the Bank which is determined on the basis of a risk management approach to be audited.

Financial Reporting and Transparency

Financial statements are prepared in line with the International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). Also, timely publication of the quarterly, half-yearly and annual financial statements with comprehensive details beyond the statutory requirements are ensured.

Compliance with the Law

The Bank has established procedures to ensure compliance with all applicable statutory & regulatory requirements by deploying relevant officials and effective reporting & monitoring system for the same. Also, the statutory and compliance auditors provide independent opinions on the compliance status.

The meetings of the Board and its committees are conducted in line with the provisions of the relevant circulars of Bangladesh Bank and Bangladesh Secretarial Standards (BSS) as adopted by the Institute of Chartered Secretaries of Bangladesh (ICSB).

Communication with Shareholders / Members

The Bank considers publication of quarterly financial statements, half yearly financial statements, and annual report as its principal communication to its Shareholders / Members and encourages communications from shareholders / members throughout the year. The financials and all price sensitive information (PSI) are published in newspapers, Bank’s website, and social media platforms. Additionally, the Bank shares its business, financial position, earnings, and future growth potentials through webcast. The Shareholders / Members can raise any queries relating to shareholdings (i.e., transfer of shares, changes of name and address, and payment of dividend, etc.) directly to the share office of the Bank or by sending email to investors.relation@ primebank.com.bd.

Annual General Meeting (AGM)

AGM is the main means of communication with the shareholders / members and normally takes place within the first five months of each fiscal year. At the AGM, adoption of annual financial statements and the Directors’ Report, election/reelection of the Board members, and appointment of the statutory & compliance auditors are made. The Board views the AGM as a good opportunity to meet with its shareholders and welcomes their active participation.


Company’s Corporate Website

The company’s website (https://www.primebank.com.bd/) is a comprehensive source of information for the shareholders / members & stakeholders in general. It provides info on management, its vision & mission, value statement, investor relations, branch network, products & services, promotions, and events. The section titled ‘Reports’, in particular, contains information on financial details, shareholding patterns, AGM related information, and periodic regulatory disclosures. The Bank also regularly publishes relevant info through newspapers and other social media platforms.

Disclosure of Remuneration of Directors, Chairman, Chief Executive and Senior Executives

The Directors of the Bank are paid only honorarium for attending Board or Committee meetings. On the other hand, the Managing Director is paid salary and allowances as fixed by the Bangladesh Bank. The total cost related to employee compensation is shown in the profit and loss account

Environmental and Social Obligation

Description of the company’s policies and practices relating to social and environmental responsibility of PBL

A natural and fresh environment, efficient use of reserves and appreciation for people’s well-being and safety are what PBL has always believed in. In harmony with this, Prime BankL is constantly working towards decreasing consumption of energy (especially electricity, water, gas, papers etc.) at its branches, removal of the use of hazardous substances from its practices and reducing waste generation. The importance is on diminishing paper transactions to the extent that the Credit Committee has already been made paperless, and Prime Bank is moving forward and thinking about implementing it more through the branches. Board and its Committee Meetings are also made paperless through using in-house built software. One of the key objectives for financing manufacturing companies is to ensure that they try to lessen their carbon footprint. Bangladesh Bank has taken steps to inspire green banking in Bangladesh through issuance of guidelines on green banking and Environmental Risk Management (ERM). It is always inspiring banks in lessening paper communications and fitting solar power system in branches and giving refinance to the solar energy, bio-gas and effluent treatment plant (ETP) sectors at concessional pricing. Prime Bank has always been committed to the environment and also been active in social activities throughout the year 2019, and will remain so in the future as well. The bank has always been active regarding its activities for the environment. One of its achievements was to make the Credit Committee & Board Meetings paperless. It is also in the process of issuing a green manual for how to make all branches and divisions more environmental friendly. Also, solar panels have been set up in quite a few branches as well, and the initiative has been taken to install more solar panels in branches in the future. The bank has always been an active member of society and has tried to enhance people’s lives and its employees as well.

Shari’ah Supervisory Committee

Operations of Islamic banking branches of Prime Bank are supervised by Prime Bank Shari’ah Supervisory Committee, comprising of a pool of Shari’ah experts and renowned economists of the country. The basic functions of the committee are to offer views on matters related to Islamic banking operation of the bank from time to time and to assist the Board of Directors by advising them on matters relating to Shari’ah. Their recommendation of Shari’ah Principles is strictly respected by the Board to run Islamic banking operation of the Bank.

Asset Liability Committee (ALCO)

The Asset-Liability Committee (ALCO) is chaired by the Managing Director and is responsible for the daily liquidity and cash management. The ALCO reviews reports on liquidity risk, market risk and capital management and takes decisions accordingly. It is also responsible for deposit-pricing strategy for the local market and appraises liquidity contingency plans for the Bank. When needed special ALCO meetings are held to respond to the unusual or seasonal market behavior or other volatile market scenarios.

Credit Committee

Credit committee of the Bank has been formed with a group of highly knowledgeable senior management who are responsible for examining loan offers in terms of compliance with legal regulations, banking principles, the Bank’s goals and loan policies assessing the credit worthiness and ability to repay debt of prospective borrowers. Based on the recommendations, credit proposals are approved or declined by the managing director or as sub delegated by the managing director or executive committee of the board or the board as per delegation of authority.

Supervisory Review Process (SRP) Committee

The Supervisory Review Process (SRP) committee is formed under the second pillar of Basel III capital accord. The Bank has developed internal methodology to assess requirement of additional capital to address risks that have not been considered under minimum capital requirement (MCR), i.e. credit risk, operational risk and market risk. The SRP committee is a representation of senior management


working under board. The SRP committee consists of 13 (thirteen) members. Core responsibilities of the committee are to ensure that bank has comprehensive Internal Capital Adequacy Assessment Process (ICAAP) and adequate level of capital is maintained and reported considering appropriately the level of risk.

Sustainable Finance Committee

In order to comply with the instruction of the Bangladesh Government to participate in combined manner to accomplish Sustainable Development Goals (SDGs) announced by United Nations and to comply with the Bangladesh Bank’s instruction, Prime Bank established Sustainable Finance Unit at Head Office. Moreover, Prime Bank established Sustainable Finance Committee (SFC) chaired by Deputy Managing Director & Chief Risk Officer (CRO) comprising of cross departmental representation. The main function of the committee includes following tasks:

� Set annual objective of Sustainable Finance Unit and evaluate its performance.

� Ensure appropriate coordination and support among all the relevant divisions of the Bank to accomplish the activities of Sustainable Finance Unit.

� Give required approval, monitor & evaluate the activities of Sustainable Finance Unit at management level.

Moreover, the Risk Management Committee (RMC) of the Board has been appointed as the High Powered Committee for reviewing environmental policies, strategies and program for governing the overall green banking activities of the Bank.

Sustainability Reporting Committee

Prime Bank established Sustainability Reporting Committee chaired by Deputy Managing Director & Chief Risk Officer (CRO) comprising of cross departmental representation. The Committee works for gathering information for General Standard Disclosures. The committee also ensures their presence during the dialogue with key stakeholders to list and define material Aspects to be reported on, and to make recommendations to executive team on this. The Chairman of Sustainability Reporting Committee formally reviews the sustainability report and ensures that all material topics are covered.

Process for delegating authority for economy, environmental and social topes from the highest governance body to senior

executives and other employees

Prime Bank recognizes that its financing decisions have potential impact on economy, environmental, society & human health. Under this purview, Prime Bank has developed and implemented Environmental & Social Risk Management policy and procedure manual. As per Environmental & Social Risk Management Policy, Prime Bank is rating the business of the customers in terms of Environmental & Social Risk. Environmental & Social Risk rating is an integral part of the credit appraisal process. The prudent Credit Risk Management team has put up an efficient end to end process for the appraisal of the potential borrowers. Once the Environmental & Social Risk Rating is completed the checklist will auto generate a risk rating- High, Medium or Low risk.

� All the low risk transactions can be approved by the Credit Officer.

� All the medium risk transaction will be escalated to the Head of Corporate/SME/Retail for approval.

� All the high risk transactions will be escalated to the Board, after review by the MD, for approval. In absence of the Board, the high risk transactions can be approved by the Executive Committee.

Executive Level Responsibility for Sustainability

At Prime Bank, sustainability is an integral part of our banking operation, through Sustainable Finance Unit (SFU), Sustainable Finance Committee, Risk Management Committee (RMC) of the Board of Directors , Established Sustainability Reporting Committee & Green chaplains of each business division, which coordinate all the sustainability efforts across the bank with other departments to boost up the sustainability banking. The Chairman of the committee and the Unit Head will report to the Senior Management or Managing Director & CEO of the bank on all progress for sustainability program and initiatives.

Consulting stakeholders on economic, environmental and social topics

� Awareness and Capacity Building initiatives taken for the stakeholder regarding consequence of the climate change and impact

on economic, environmental and social topics and how to overcome the drawback.

� Green Event organized to boost up sustainability

Note: All details related to the committees’ tasks and members are outline in our 2019 Annual Report which is published on our corporate website: “www.primebank.com.bd”.


Employee Code of Ethics and Business ConductGRI 102-16

The employees of Prime Bank are trained to put their own duties and ethics before everything else. They treat their colleagues with reverence and honour, and their customers as esteemed guests. They also learn to abide by the laws that govern our business, and contribute to the strength and wellbeing of our community and shareholders.

“The Prime Bank Employee Code of Ethics and Business Conduct” – is a framework of ethical behaviour for all the employees of the organization that embodies all the factors mentioned above. It is a reflection of Prime Bank’s role as a socially responsible corporate citizen which believes in providing the most courteous and efficient service through innovative banking services and products. However, Prime Bank’s most farsighted objective is to uphold and build upon the honour of Bangladesh as a nation, through exhibiting its own competence as a local organization that can perform at least on par with a multinational one, if not better than one.

Ever since Prime Bank’s explosive introduction into the banking industry in 1995, it has remained true to its vision, focusing on efficiency, management and profitability. Prime Bank’s growth in this sector has been fast and steady – a feat that would not have been possible without upholding the best ethical standards of employee conduct. Not only are the employees the representatives of the Bank to its clients, but superior relations between employees also help to expedite intra-bank activities.

This text focuses on the core values of Prime Bank by laying down a set of principles and directives, which are meant to set the tone and provide guidance to all. It serves both as a method to review and reaffirm the high standards of conduct that are associated with ethical business practices, and as a corporate-wide statement of Prime Bank’s commitment to these standards.

A written code, no matter how elaborate, cannot answer all the questions raised in the context of business relationships; therefore, employees of Prime Bank are expected to recognize and respond to certain situations as they arise, using their own sense of judgment. Employees will be judged not only in terms of their competence, but also their integrity.

It is mandatory for every employee of Prime Bank Limited to abide by the ‘Employee Code of Ethics and Business Conduct’ and also comply with any other orders or directions provided by the Management or Board of Directors from time to time. Besides, the bank also adopted “Code of Conduct for Banks and Non-Bank Financial Institutions” as issued by Bangladesh Bank, the Central Bank of Bangladesh (Instruction Circular No. 100 dated 31.12.2017)

A Message to all Head of Branches (HOB) and Divisional Heads

All HOBs and Heads of Divisions should exemplify the highest standards of conduct and ethical behavior. As a Head of a team, in addition to the responsibilities you have as an employee, you are expected to –

� Lead according to Prime Bank standards of ethical conduct (delineated in this text), in both words and actions.

� Communicate and help employees to understand how ethics apply to their positions and everyday behavior.

� Create and maintain an environment where employees feel comfortable asking questions or reporting concerns.

� Be diligent in enforcing the Bank’s ethical standards and taking appropriate action if violations occur.

� Contact the Human Resources Division when in need of assistance.

First, let us lay down some general information regarding business conduct of the employees of the Bank:

� For all employees, tidiness and cleanliness of attire is a must.

� Regular and timely attendance is an essential condition of employment. Employees are expected to report to work on each business day, and absences without prior sanctions of leave (unless incapacitated by illness) can make employees liable for disciplinary action.

� In case of sudden illness, a report should be submitted to the immediate supervisor accompanied by a medical certificate.

� All employees should leave office after completing the daily balancing of accounts or specified work for the day.

� A confirmed employee shall not leave or discontinue his/her services in the Bank without giving 1 (one) month’s previous notice to the Managing Director in writing of his/her intention to do so, and in case of failure, he/she shall be liable to pay to the Bank as compensation an amount equal to his/her basic salary for 1 (one) month. A probationer shall not leave or discontinue his/her service without giving 2 (two) weeks’ notice in advance.

Code of Employee Ethical Behaviour

Protect Privacy of Customers’ and Confidential Company Information

The bank’s continued success depends on its ability to keep ‘information assets’ (e.g. customer account numbers, social security numbers and other private data) safe from fraud, theft, identity theft and accidental disclosure. All bank employees must comply with information security requirements that teach us how to keep valuable confidential information safe.


� Sharing information about our customers with anyone inside or outside the company who does not have a business need for the information is prohibited. A casual remark to family, friends, or acquaintances can form the basis for misinterpretation or otherwise violate the integrity of company relationships. Inappropriate discussion or the improper release of information may result in disciplinary action up to and including termination.

� Business information such as strategic plans, products or other non-public information, must be treated with utmost discretion. When your employment or your service ends, your obligation to maintain the confidentiality of information still continues to apply.

� Every employee is responsible for safeguarding information. Below are some of the basic guidelines employees should follow at all times to safeguard prime Bank internal, confidential and customer confidential information:

� Make sure Bank’s confidential or Customer’s confidential information is not left in plain view on your desk, in your cubicle or office space, or in a shaded area.

� Store the above where only authorized individuals can view or access it. Do not provide access to such information to anyone, inside or outside the company, who is not authorized to receive it.

� Limit and protect Prime Bank’s internal or customer-related confidential information from being taken off bank premises in physical or electronic format.

� Laptops, mobile phones and flash drives are valuable bank assets. Extra care is required to safeguard these items from theft, regardless of whether they contain confidential information or not.

� Use secure webmail passwords and never share them with others. Neither leaves passwords where they might be found by someone else.

� Use caution when required to transfer confidential information. For example, physical documents must be transported securely.

Prevent Money Laundering and/or Fraud

Money laundering (converting illegal proceeds to make the funds appear legitimate) is a global problem with far-reaching and serious consequences. Prime Bank takes its obligation as a financial services provider seriously to help close the channels used by money launderers. Special attention must be paid to anti-money laundering laws and regulations by adhering to established policies and procedures that are designed to prevent the organization from being used as a conduit for money laundering or the funding of terrorist or other criminal activities.

One way to do this is to identify and report suspicious activities in a timely manner. The penalty for failure to comply with these laws can be severe. Therefore, it is important that every employee understands and follows the policies and procedures established to meet the company’s legal and regulatory obligations.

Demonstrate Workplace Respect

Prime Bank expects employees to develop, encourage and maintain a positive attitude towards ethical behavior, which includes an open appreciation of diversity. It is essential for employees to value and respect differences among the people whom they interact daily. Valuing and respecting such differences allow employees to be more successful in identifying and meeting customer needs and developing effective work relationships. Prime Bank has made a commitment to create a environment that values each individual’s unique talents and background, respects and differences, and recognizes the opinions and ideas of every employee.

It is the expectation that each employee treats his/her fellow employees with professionalism, respect, consideration and understanding. For example, a female employee should be addressed by a colleague as “you (Avcwb / apni)”, regardless of the difference between them in terms of position or age. Also it should be kept in mind that, irrespective of positions, male executives should avoid extending hands to female colleagues for handshake, but if the female official initiates the handshake in the same situation. The same situation have almost same implication in terms of same gender colleagues, like junior colleagues are advised not to initiate a handshake towards any senior executive without being prompted by the other party. But it will be termed to be proper if being initiated by the senior colleague. It is the privilege of the supervisor to exchange pleasantries with subordinates or junior colleagues like asking “how are you?”, but it is impolite on the part of junior ones to do the same. An employee must observe, comply with and obey all orders and directions which may be given to him/her by any person or persons under whose jurisdiction, superintendence or control he/she may, from time to time, be placed. All these foster a climate conducive to a high level of performance through full communication at all levels. By conducting day-to-day business with the highest standards of integrity and devotion and successfully performing their jobs, employees will further achieve and maintain company goals and objectives. Open discussion of job-related problems and prompt resolution of those problems is also encouraged.

Another very important aspect is maintaining proper office etiquette within office hours. Like, maintaining tidiness of an official’s work desk, his/appearance and verbal behavior.


It is essential that Prime Bank employees treat customers, potential customers and vendors, and the communities’ bank serves with equal respect and professionalism. This demands courteous service as well as ethical business conduct and compliance with all laws and regulations. It is important to be aware that customers have disabilities that need to be accommodated. Whether to work with customers in person or over the phone, attention should be paid to any physical or communicational barriers customers encounter, and assistance should be offered whenever needed. In some situations, consulting managers may be required to assess appropriate measures of assistance.

Prime Bank prohibits both discrimination against and harassment of any employee or applicant, and ensure that all personnel practices are administered on individual merit and capability without regard to race, religion, colour, age, sex, national origin or ancestry, sexual orientation (including gender expression or identity), genetic information, disability, veteran status or other factors identified and protected by law. These practices include, but are not limited to, recruitment, advertising, selection, performance management, compensation, training, placement, transfer, demotion, promotion, disciplinary action and termination.

Avoid Offensive Behaviour and Sexual Harassment

It is the responsibility of all employees to maintain a working atmosphere free of discrimination, harassment, intimidation and unwelcome, offensive or inappropriate conduct, including sexual overtures, offensive jokes, graphic material etc. Verbal or physical conduct of a demeaning or sexual nature that creates an intimidating, hostile or offensive working environment, affects inter-employee relations or is otherwise deemed by Prime Bank to be offensive or inappropriate is not permitted. Sexual harassment includes any unwelcome sexual advances, requests for sexual favours, and other verbal or physical conduct of sexual nature.

Avoid Drug/Substance/Alcohol Abuse in the Workplace

Prime Bank recognizes that alcohol and drug abuse adversely affects job performance and safety in the workplace. A productive and safe work environment is in the best interest of all employees, customers and shareholders. Therefore, Prime Bank restricts the use of alcohol, narcotics, depressants, stimulants, hallucinogens, marijuana or any other controlled substances during working hours as well as during other work-related events. In addition, if the use of prescription medicine adversely affects your work performance, you should contact HRD as soon as possible to discuss the situation.

Protect the Bank’s Assets

In case of protecting bank’s assets, the following needs to be followed:

(a) Bank employees who will be dealing with cash, securities or other valuables will be bonded under a standard form of Surety Bond as prescribed by the Board.

(b) It is expected that each employee will keep foremost in his/her mind the need for using every precaution in handling the assets of the Bank and of its customers so that maximum protection is provided at all times.

(c) Every employee shall, as and when required by the Bank, furnish information as to his/her assets, disclosing liquid assets and all other properties, movable and immovable, inclusive of share certificates, insurance policies and jewellery.

Some important issues which need to be taken into account by all employees of Prime Bank:(i) Accept any outside employment (honorary or stipendiary) undertake part-time work or hold any office of profit without

the prior permission of the competent authority. However, an employee may undertake honorary work of religious, social or charitable nature and occasional work of literary or artistic character, provided that the duties of the employee do not suffer by such honorary work;

(ii) Engage directly or indirectly in any commercial business, industry or other business pursuits or as agent of others;

(iii) Be connected with the formation or management of a joint stock company in a role other than that of an agent of the Bank;

(iv) Act as agent of any insurance company or accept commission, directly or indirectly, other than as an agent acting for and on behalf of the Bank, or have personal dealings with a constituent in the purchase or sale of bills of exchange, Government paper or any other securities;

(v) Make any personal representation to any Director of the Board or any outside authority to intervene on his/her behalf in any matter;

(vi) Accept or permit any member of his/her family to accept any gift from a constituent of the Bank, any person likely to have dealings with the Bank, a subordinate employee or a candidate for employment in the Bank;

(vii) Accept, without previous permission in writing from the Managing Director, any gift from a foreign government/agency;

(viii) Lend money in his/her private capacity to, borrow money from, or place himself/herself under any pecuniary obligation to a customer, a broker, a moneylender, an employee of the Bank, a candidate for employment in the Bank, or any firm or person having or likely to have dealings with the Bank;

(ix) Except with the permission of the competent authority, issue guarantees in his/her private capacity, the pecuniary obligations of another person, or agree to indemnify another person from facing losses in such capacity;


(x) Participate in gambling and betting or any other such activities or invest money in the business of the Bank’s clients;

(xi) Make or permit any member of his/her family to make an investment likely to embarrass or influence him/her in the discharge of his/her official duties, engage in any activity which may undermine the prestige or image of the bank, or making/joining an organization which is not permitted to exist by law;

(xii) Indulge in parochialism, favouritism, victimization and wilful abuse of office;

(xiii) Extend any credit facilities to customers in contravention of credit restrictions imposed by the Head Office or Bangladesh Bank, or in excess of his/her authority;

(xiv) Make any advance or contribution for political purposes;

(xv) Overdraw the account of himself/herself, his/her wife/husband, children and relatives or any other benami account;

(xvi) Leave office without completing daily balancing of accounts or specified work for the day, even after usual office hours have elapsed;

(xvii) Live beyond his/her means or indulge in ostentation on occasions of marriage or other ceremonies;

(xviii) Participate directly in any political activities;

(xix) Participate in any election of the Parliament or any local authority in Bangladesh or elsewhere, provided that he/she exercises his/her right of voting in such elections.

(xx) Give evidence before a public committee:

(a) In Bangladesh, unless he/she has first obtained the permission of the Managing Director; and

(b) Outside Bangladesh, unless he/she has first obtained the permission of the Government through the Managing Director.

Prime Bank’s high ethical standards are supported with rigid enforcement. Any action or behavior that, in the opinion of the bank, violates or jeopardizes its ethical standards may result in immediate disciplinary action up to and including termination.


Economic Value CreatedContribution of Prime Bank Limitedin economic development

ECONOMICIMPACT


Economic Value CreatedStatement of Value Added and Its Distribution GRI 201-1

The value added statement provides a detailed account of total value addition and the distribution of the value created by the organization. Prime Bank contributes positively to socio economic development by empowering employees through the payment of salaries and allowances; by paying attractive and consistent dividend to the providers of capital; by assisting the regulatory capacities through paying taxes and of course keeping in mind company’s continuous expansion and business growth.

(BDT in million)

Particulars2019 2018

Amount % Amount %Net interest income 8,273 88.19 7,650 90.67 Commission, exchange & brokerage 2,168 23.11 2,209 26.18 Investment income 2,865 30.54 2,154 25.53 Other income 825 8.79 887 10.52 Management expenses excluding salaries & allowances, depreciation

(2,449) (26.11) (2,681) (31.78)

Provision for doubtful losses (2,300) (24.52) (1,782) (21.12)Total value added by the company 9,382 100.00 8,437 100.00

Value added contributed to-

Employees: As salaries and allowance 4,034 43.00 4,169 49.41 Provider of capital: Dividend to shareholders 1,529 16.29 1,415 16.78 Government: Corporate tax 2,646 28.20 1,750 20.74 To expansion and growth: Retained income 475 5.07 772 9.16 Depreciation 698 7.44 330 3.91 Total distribution by the company 9,382 100.00 8,437 100.00

ECONOMIC VALUE ADDED STATEMENT

Economic value added (EVA) is the financial performance measure that attempts to measure the true economic profit of an organization. It provides a measurement of a company’s economic success (or failure) over a period of time. Such a metric is useful for investors who wish to determine how well a company has added value for its investors and it can be compared against company’s peers for a quick analysis of how well the company is operating in its industry. Economic value added is calculated by taking a company’s net profit after tax, adding with it, the amount of provision charged against profit to absorb the losses inherent in the investments. EVA is calculated as under:

Employees

Provider of capital

Government

To Expansion and Growth

Value Added Statement

43%

16.29%

28.20%

12.51%

Employees

Provider of capital

Government

To Expansion and Growth

Value Added Statement

49.41%

16.78%

20.74%

13.07%

2018

Economic Value CreatedContribution of Prime Bank Limitedin economic development

ECONOMICIMPACT


Particulars 2019 2018 2017 2016 2015

Shareholders’ equity at year end 26,780 26,181 24,708 25,285 26,415

Accumulated provision 12,248 10,280 10,893 9,055 9,204

Average shareholders’ equity 37,744 36,031 34,970 34,979 33,753

Cost of equity (%) 10.20% 5.40% 6.35% 5.76% 6.11%

Economic value added

Net profit after tax (before provision) 4,304 3,969 4,623 5,607 5,293

Less: Cost of equity 3,850 1,946 2,221 3,317 2,566

Total 454 2,024 2,403 2,290 1,738

Key ratios

EVA/Operating revenue (%) 3.21 15.69 19.78 19.05 14.39

EVA/Average shareholders’ equity (%) 1.20 5.62 6.87 6.55 5.15

Net profit after tax/Operating revenue (%) 14.18 16.96 8.72 18.26 17.72

During the year 2019, direct economic value generated in the form of revenues BDT 14,131.01 million and direct economic value distributed in the form of operating costs BDT 2,881.19 million, employee wages and benefits BDT 4,033.65 million, payment to providers of capital BDT 1,415.35 million, payments to government BDT 2,645.76 million and community investment BDT 266.60 million.

MARKET VALUE ADDED STATEMENT

Unlike EVA, which measures internal performance, market value added (MVA) is a measure of external performance that indicate how the market has evaluated the company’s performance in terms of market value of shares compared to book value of shares. MVA is the difference between the market value of equity of a company and the book value of equity invested in the company. A positive MVA indicates that the company could add value to shareholders wealth. The following statement indicates the MVA at the year ended on 31 December of 2019 and 2018:

(BDT in million)

Particulars 2019 2018Market value of shares outstanding 20,608 20,155Book value of shares outstanding 26,780 26,181Market value added (6,172) (6,026)

Explanation behind the negative MVA

Market Value Added (MVA) is the difference between the current market value of a firm and the capital contributed by investors. In an ideal scenario, if MVA is positive, the firm has added value. If it is negative, the firm has destroyed value. But in some cases due to volatile market scenario and unusual decrease of market index market value of shares outstanding may be less than the book value.

Economic Value Added

454

2015 2016 2017 2018 2019

2,02

4

2,40

3

2,29

0

1,73

8

EVA/Average Shareholders’ Equity (%)

2015 2016 2017 2018 2019

5.62

6.87

6.55

5.15

1.20


Contribution to National Exchequer Prime Bank has contributed significantly to the government’s effort of revenue collection. As a corporate entity, the bank pays tax and VAT on its own income according to prevailing laws of the country. Besides, the bank deducts income tax, VAT and excise duty at source from customers and suppliers and deposits the same to the national exchequer. During the year 2019, the Bank contributed Tk. 4,925.87 million (Direct Tax: BDT 1,411.63 million and In-direct Tax: BDT 3,514.24 million) to national exchequer.

Benefit plans for PBL employees GRI 201-3

Prime Bank provides the following benefit plans for its employees upon retirement according to individual’s entitlement, which are: 1) Provident Fund 2) Welfare Fund 3) Benevolent Fund and 4) Gratuity. These funds are controlled by a Trustee Board, and decisions regarding investing and encashment of these funds are based on the Board’s judgment. The Trustee Board works to ensure that employees on retirement will get full coverage of their portion of the fund. Provident Fund contributions are made by employees (10% of basic salary per employee) and employer (Same amount as paid by the employee). Welfare of December 31st, 2019 was as follows:and Benevolent Funds are deducted from salary based on designation of the employee. The fund position as

Name of the Funds Amount (BDT) as on 31.12.2019

Prime Bank Limited Employees’ Provident Fund 3,392,134,737

Prime Bank Limited Employees’ Gratuity Fund 2,321,872,052

Prime Bank Limited Employees’ Welfare Fund 189,488,946

Employees’ Benevolent Fund 27,436,760

Financial implications and other risks and opportunities for the Bank’s activities due to climate change GRI 201-2

The climate has changed, is changing, and will continue to change regardless of what investments in mitigation are made (IPCC 1996a). Some of this change will occur as the result of natural climatic variation. Some will occur as the result of human activities that have already altered the atmosphere and committed us to future climate change. Regardless of the source of change, systems that are sensitive to changes in climatic conditions will be affected. Climate variability and change pose risks to human health, ecosystems, social and cultural systems, and economic systems. They also provide opportunities. Potential effects on human health, air quality, water quantity and quality, ecosystems (including wildlife and biodiversity), agriculture and forests may be either positive or negative. Any 1 particular effect of climate change may benefit one region or demographic group within a region, while harming another region or demographic group. ‘One person’s opportunity may be another person’s loss.

Health, Agriculture, Forest, Water Resource on Coastal, Species and Natural Areas will be impacted due to Climate Change. Adaptation is an important approach for protecting human health, ecosystems, and economic systems from the risks posed by climate variability and change, and for exploiting beneficial opportunities provided by a changing climate. (Joel D. Scheraga, Anne E. Grambsch – Climate Research)

As a responsible bank, Prime Bank recognize that bank has to evaluate the risks and opportunities of climate change and its mitigation to ensure bank’s long term resilience and success.

The global delay in fighting against the Earth’s rising temperatures has two important consequences, with far-reaching impacts on businesses’ profitability and long term resilience. Climate change has originated new material risks and has increased reputational risks for businesses. Moreover, access to finance is becoming increasingly linked to companies’ climate related risks because financial institutions are themselves exposed to more credit, market and reputation risks as a consequence of their clients’ and investees’ climate related ones.

Climate change is already affecting the business world significantly, and its impact is likely to grow while the impact is varies from sector to sector and country to country. 83% of world’s top 500 companies now see Climate change as a business risk.

Climate change in Bangladesh is a pressing issue. According to National Geographic, Bangladesh is one of the most vulnerable nations to the impacts of climate change. Climate change in Bangladesh will creates insecurities for food, water, life, property, settlement, livelihood assets, livelihoods and others.

Moreover, health of stakeholders of Prime Bank Limited may be affected from heat related illness or disease. To encounter these sorts of diseases Prime Bank Limited has established Prime Bank Eye Hospital (PBEH) and Prime Bank Nursing Institute (PBNI). Prime Bank Eye Hospital is an institution where a highly trained team of consultants and staff, and international standard equipment and operation theatres to provide excellent eye-care services at a minimum cost. PBEH also carries out screening camps, and free eye camps throughout the country, especially in remote areas to reach out to eye patients. The hospital has also adopted several awareness-raising campaigns to promote health-seeking behavior. Prime Bank Nursing Institute (PBNI) began its journey in affiliation with a leading nursing institute of Philippines. The modern equipments, IT facilities and qualified teachers all follow international standards which


prepare the students to pursue a noble career. The institute aims not only to increase employment but also to contribute to the health sector of the country. Besides, Prime Bank Limited has different agreements with different Medical Service centers to provide healthcare services for the workforce of the Bank at discounted price. Prime Bank Limited also provides financial assistance to its employees for medical treatment. In order to reduce the dependency on chemical fertilizer as well as to improve fertility of the land and to meet up the increase demand of crop/food of the country, Prime Bank Limited has started to finance for setting up vermicompost plant. The bank’s green banking activities cover multidimensional areas which include both in-house environment management and undertaking green financing to support green economy. Prime Bank Limited believes that an environmentally responsible bank does not only improve its own standard but also influences other business entities to be the same. The Bank’s working environment encourages usage of e-mails, relying on online communication, extensive usage of energy savings bulbs which shows bank’s efforts towards supporting green banking activities. Our Green Banking Policy Guidelines and Green Office Guide have been circulated to all our employees for creating awareness on Green Banking activities & providing instructions about conserving energy, water, saving paper, etc. Since commencement Prime Bank has adopted eco-friendly banking services as a way to lower carbon footprint in its’ normal banking activities. As part of our commitment to uphold green economy, Prime Bank Limited has signed a participation agreement with Bangladesh Bank under refinance scheme for lending in direct green finance products i.e. solar energy, bio-gas, effluent treatment plant, brick field etc. Moreover, Prime Bank always has stayed away from financing in environmentally harmful industry. The Bank has decided not to finance in any tobacco related business. Prime Bank has incorporated environmental & social risk management as part of the existing credit risk methodology to assess borrowers through Environmental Due Diligence (EDD) checklists. The bank has assigned official to ensure E&S risk management system in the bank. In line with Bangladesh Bank’s directive regarding Formation and Management Procedure of Climate Risk Fund, Prime Bank allocated Climate Risk Fund of Taka 19.69 million which is 10 percent of the Bank’s CSR Fund for supporting the environmental disaster like flood, cyclone etc., which is fully utilized. Prime bank has been complying with the Social Risk Management Policy issued by Bangladesh Bank to measure the emissions that arise from bank business activities. Prime Bank Limited has adopted Environmental and Social Risk Management Policy Statement to initiate development and implementation of a management system that will help to minimize the Bank’s exposure to environmentally or socially derived financial, reputational, legal and credit risks and liabilities associated with its lending, and will allow to identify the opportunities to support eco-friendly and environmentally and socially sustainable and responsible business activities.

To achieve these objectives, the Bank strongly commits itself to:

� work towards integrating environmental and social considerations into the Bank’s operations and business decisions;

� enhance its system for identifying and assessing environmental and social risks as a part of the normal process of risk assessment and management by incorporating international best practice standards and tools to manage these issues;

� encourage and influence the clients of the Bank to comply with the environmental, health and safety and labor issues regulations and to undertake resource efficiency activities through rigorous programs;

� give preference to financing eco-friendly and environmentally and socially sustainable business activities and energy efficient industries;

� ensure proper due diligence regarding financing the clients whose business activities don’t meet the Bank’s environmental and social requirements;

� communicate with the Bank’s employees and other stakeholders the objectives and responsibilities resulted from this Environmental & Social Risk Management Policy Include regular trainings on environmental and social risk and the relevant issues in the Bank’s Training & Development program.

� Communicate its approach and expectations to all staff, borrowers and stakeholders regarding environmental & social risk management.

� update the Bank’s practices periodically to incorporate relevant developments in sustainability management;

� While financing the bank may consider the ADB’s guideline regarding environmental & social issues.

As a bank, our entire business model is built on creating value. Sustainability presents an opportunity to use our skills, expertise and relationships to make a positive difference to individuals, society and the environment. Sustainable financing could be one of the suitable opportunities to diversify the bank’s business. It is also sensible initiative to keep our environment better. Prime Bank is committed to promote sustainable growth in the economy. In order to support the socio-economic development of Bangladesh, our Bank extends credit facility to clients whose business activities lessen ecological damage, endorse energy efficiency and to support communities who are vulnerable to climate change.

Prime Bank Limited’s activities in economic development: Significant indirect economic impact GRI 203-2

This disclosure concerns the spectrum of indirect economic impacts that an organization can have on its stakeholders and the economy. As a key component of financial system, the bank allocates funds from savers to borrowers in an efficient manner. Prime bank provides specialized financial services through digital platform, which reduce the cost of obtaining information about both savings and borrowing


opportunities. These financial services help to make the overall economy more efficient. Prime Bank makes a positive difference to society and local, regional and national economies where we operate through our community initiatives and investments. We help foster local economic development and stimulate growth and innovation through loans, credit and other financing to organizations of all sizes.

Technology and innovation are essential to develop companies, cities and communities in a sustainable direction. Today’s tech nology can take us a long way, but we have to be smart about how we use it. That requires us to change our habits, organizations and regulations. Prime bank adopted information technology and the Bank strongly believe that digital transformation is not the mandate of any single team, but that it needs to be embraced by the entire organization in phases. 2019 has been a productive year in achieving the Bank’s aspiration of becoming a true digital bank. Prime Bank launched ‘Prime DIGI’, the first ever Digital Savings account in Bangladesh as a prelude to digital onboarding of clients who would not be required to come to the branch for opening of the account and can manage all their banking requirements from their handhelds or desktops. Initiatives have also been taken to review and enhance capabilities of ‘ALTITUDE’ (Prime Bank’s internet banking platform), Express Loan, Agent Banking, Centralized Remittance operations and innovate new digital banking products and services. Prime Bank’s efforts in 2019 has won the Bank recognition as the Best Digital Bank in Bangladesh in 2020 by Asiamoney, a leading global financial publication. The bank strongly believes that the Bank’s continued efforts to drive digital innovations will yield results in terms of increased efficiency and enhanced digital customer service excellence in 2020, despite the offset caused by the Coronavirus outbreak. These initiative of Prime Bank will help to improve social, environmental and economic condition of Bangladesh.

Prime Bank emphasizes quality and organic growth, which start from our rigorous credit appraisal process to unveil unforeseen risks. Although as a financial institution our direct impact on the environment is limited, we are cognizant of the role we can play in propagating good environmental practices through our lending and in our own activities and operations. A comprehensive environmental and social screening approach assists us to minimize such impact while we lend money to a business. Apart from direct lending towards various green projects, environmental and social considerations are embedded into our credit appraisal mechanism.

Prime Bank remains steadfast in its efforts to ensure the sustainability of its operations as well as that of the communities it serves. This is not only through efforts to finance economic development and the provision of modern financial services but also through innovative community program that impact the lives of the people included in the lower segment of the society. Prime Bank Foundation, its healthcare and educational arm to undertake Corporate Social Responsibility initiatives, is supported by sponsors and remains a major vehicle for the Bank to positively impact many of most needy communities in an effort to build a better tomorrow for all. To meet the challenges of the current environment and deliver, we have a set of strategic priorities those are reviewed and refreshed each year. We will continue to manage these priorities in a balanced way with an appropriate mix of growth, return, risk and productivity. The bank successfully attained few essential components of strategic plans and priorities by delivering improved services to our customers in an effort to treat all fairly and inclusively making it easy for them to find, understand and access products that are right for them under any circumstances. We have continued to transform the Bank to become a safer, more agile and customer focused organization whilst maintaining steady profits. Prime Bank has upgraded its core banking system to come at par with global standard to cover wider areas of customer convenience.

The Bank has targeted for diversification as part of mission and vision to bring a balance between Corporate, MSME and Consumer Banking. As we look at from a macro economical point of view, Prime Bank has played a major role in the Development of the economy. The growth of the Textile, RMG and CMSMEs, other manufacturing sectors, alongside the development of infrastructure and availability of power and energy, is directly linked with the contributions from this leading Bank. Despite the uncertain macroeconomic environment, we have continued to support the economy while operating within our prudent risk appetite. There is a broad consensus that a vibrant MSME sector is one of the principal driving forces in the development of the economy of Bangladesh. MSMEs stimulate private ownership and entrepreneurial skills and can adapt quickly to changing market situation, generate employment, help diversify economic activities, and make a significant contribution to exports and trade. Keeping this in view, Prime Bank Limited has formulated a comprehensive policy on MSME financing and made significant progress in this sector. The Bank is offering congenial loan products and services so that MSMEs can grow and contribute more to the GDP. Agriculture is also another key driving force of the economy of Bangladesh. The overall economic development of the country is closely interlinked with the development of the agricultural sector. Agriculture makes the largest contribution to favorable Balance of Payment position through poverty alleviation, providing raw materials for industry, reducing imports and enhancing exports. Prime Bank continued its proactive policy and program support to boost up agriculture financing. Prime Bank also recognizes Agriculture & Rural Credit as one of the major tools for ensuring “inclusion” of the rural people into the banking activities and plays a major role in the overall economic development of the country. Prime Bank Limited has adopted a high priority policy goal under financial inclusion program to ensure stable economic growth. Under the financial inclusion program Prime Bank is extending the following products and services to the unbanked and low income people of Bangladesh for overall economic development:


Under the financial inclusion program Prime Bank is extending the following products and services to the unbanked and low income people of Bangladesh for overall economic development:

1. Opening of Bank Accounts for students Under School Banking;

2. Opening of Bank Accounts for Ready Made Garments Workers;

3. Opening Bank Accounts for the former enclave areas;

4. Opening of Bank Accounts for Workers of Small Footwear & Leather Products’ Industries under LSBPC (Leather Sector Business Promotion Council) Project;

5. Opening of Bank Accounts for Cleaning Staffs of Dhaka North and Dhaka South City Corporation;

6. Opening of Bank Accounts for destitute people receiving allowance from Ministry of Religious Affairs;

7. Providing Banking Service for Street Urchin and Working Children;

8. Ensuring banking services for physically challenged persons;

Providing loan to ten-taka account holders at various area under refinance scheme of Bangladesh Bank to reduce the poverty for overall economic development. In 2019 the bank has provided loan of Tk. 5.80 million to 10 (ten) taka account holders under financial inclusion program;

Providing loan among farmers at rebate rate (4%) for cultivation of pulse, oil seeds, spices and maize. In 2019, the bank has provided loan of BDT 5.81 million among 70 farmers at rebate rate (4%) for cultivation of maize and spices;

As one of the leading financial services provider in Bangladesh, Prime Bank plays an important role in the financial system, the economy and the society.

Percentage and number of companies held in the Prime Bank’s portfolio with which the bank has interacted on environmental or social issues

The “Risk” of any banking institution may be defined as the possibility of incurring losses, financial or otherwise. Banking business is in fact a business of risk taking. So it is vital to manage all these risks efficiently. In today’s challenging financial and economic environment effective risk management is must for sustainable growth in shareholders’ equity. In addition to environmental risk, bank face risks like credit, market, operational, liquidity, reputation risk and other risks like strategic risk, concentration risk, compliance risk etc. The risk management strategy is based on a clear understanding of various risks, disciplined risk assessment and measurement procedures and continuous monitoring.

Prime Bank strictly follows the Environmental & Social Risk Management Policy & Procedure published by Bangladesh Bank. As per Environmental & Social Risk Guideline, environmental risk has been categorized in 3 (three) groups i.e. High, Medium and Low. We conducted Environmental & Social Risk Rating (ESRR) for all applicable projects. In 2019 Prime Bank conducted Environmental & Social Risk Rating (ESRR) for all eligible projects before financing and a total of 1504 customers were eligible for Environmental & Social Risk Rating (ESRR), out of which, Prime Bank Financed 967, 103 & 1 customers who’s Environmental & Social Risk Rating (ESRR) were low, medium & High respectively.

On the other hand, the bank is also following the environmental rules of Government of Bangladesh. As per the rule, the industry/ business has been categorized as red, green, orange A, orange B and yellow considering the environmental risk. As per the rule, bank cannot finance to red and yellow category industry/business.

Access points in low-populated or economically disadvantaged areas by type

Financial inclusion (FI) is considered as one of the mainstays of global development for fostering sustainable and inclusive economic growth. Like other parts of the world, Bangladesh is also enhancing its position on Financial Institution with the combined effort of the government, central bank, and development agencies.

Financial inclusion is thus a high priority policy goal for developing and developed countries in order to ensure stable and equitable economic growth. Under Financial Inclusion Program, our bank is offering banking services to small/ marginal/landless/natural disaster affected farmers, school and college going students, Ready Made Garments Workers, inhabitants of former enclave areas, Workers of Small Footwear & Leather Products’ Industries under LSBPC (Leather Sector Business Promotion Council) Project, Cleaning Staffs of Dhaka North and Dhaka South City Corporation, destitute people receiving allowance from Ministry of Religious Affairs, Street Urchin and Working Children, physically challenged persons etc. Moreover, our bank is committed to provide loan to 10 Tk. Accountholders (small/ marginal/landless/natural disaster affected farmers and micro/small traders) under Refinance Scheme of BDT 200 Crore of Bangladesh Bank. Prime Bank plans to step into the agent banking arena this year as part of its push to widen footprint and cut reliance on branches. The bank received the agent banking license from the central bank recently.


Opening of Bank Accounts for students

Under School Banking

Opening Bank Accounts for the former enclave areas

Opening of Bank Accounts for ReadyMade Garments Workers

Opening of Bank Accounts for Cleaning Staffs of Dhaka North and Dhaka South

City Corporation

Ensuring banking services forphysically challenged persons

Opening of Bank Accounts for 10, 50, 100 TK Account Holders

Opening of Bank Accounts for Workers of Small Footwear & Leather Products’

Industries under LSBPC (Leather Sector Business Promotion Council) Project

Opening of Bank Accounts for destitute people receiving allowance from Ministry of

Religious Affairs

Providing Banking Service forStreet Urchin and Working Children

Creating awareness programregarding different banking services Agent Banking for the Banks

1 2

3

5

8

4

7

1110

6

9

Initiatives to improve access to financial services for disadvantaged people

According to the World Bank, “Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs—transactions, payments, savings, credit and insurance—delivered in a responsible and sustainable way.” However, less inclusive financial systems lead to income inequality and slower economic growth. Therefore, financial inclusion is crucial for a country’s economy and in enhancing welfare and ensuring consumption levelling amongst underprivileged people. Under Financial Inclusion Program , Bangladesh Bank has formed Refinance Scheme of BDT 200 Crore for 10 Tk. accountholders (small/ marginal/landless/natural disaster affected farmers and micro/small traders). Prime bank has been providing financial services for disadvantaged groups as per guidelines given by Bangladesh Bank. Farmers, readymade garment workers, underprivileged segment of population, and beneficiaries of social safety net programs are eligible to open No Frill Account (NFA) with only BDT 10 as initial deposit in any state-owned commercial bank or financial institution, and scheduled private commercial banks involving no service charge.

Financial services offered to disadvantaged people are as follows:

In view of the above, different divisions i.e. Retail Banking Division, MSME Banking Division, Agriculture Support Division and Green Banking Division of the Bank separately deal with the activities related to Financial Inclusion. Prime Bank has disbursed Tk. Tk. 5.80 million to 10 (ten) taka account holders under financial inclusion program during the year of 2019. Bangladesh Bank and the government have been extensively trying to expand financial services for disadvantaged groups for the past few years. The Bangladesh government continues to make progress on its financial inclusion goals through the implementation of initiatives designed to reach the financially excluded, particularly the poor. Financially included adults made up 47% of the population in 2018.


ENVIRONMENTALIMPACT

Prime Bank’s approachto Environmental SustainabilityEnvironmental Resposibilites


Prime Bank’s approach to Environmental Sustainability

All financial institutions are exposed to same level of environmental and social risk through their clients / investee. If left unmanaged, these risks can lead to decline in the financial institution’s reputational image, costly litigation, or loss of revenue. On the other hand, the bank may produce emission through in house operations. In order to reduce the emission, environment risk and social risk as well as improve the reputational image, banks have to do sustainable banking actively. The sustainable banking approach is based on certain principles that not only consider profit but also economic, environmental and social benefits. Prime Bank in line with global norms has already introduced Sustainable Banking and sustainable practices. The sustainable banking initiatives of prime Bank have been undertaken under three broad categories: green banking, corporate social responsibility and financial inclusion. Our Green Banking activities cover multidimensional areas including both in-house environment management and undertaking Green Financing towards supporting Green Economy. Moreover, Prime Bank Limited has developed and introduced Green Banking Policy, Green strategic plan and Green office guide. As one of the strategic focuses of Prime Bank Limited is ‘going green’, which includes efficient energy consumption, paperless office, financing renewable energy etc. As a green bank, we tend to reduce the carbon emission which ultimately helps to ensure green environment in the society. Being a leading commercial bank in financial market of Bangladesh, Prime Bank Limited can influence economy, society, people and the environment-both directly and indirectly through our stakeholders. Prime Bank is striving for excellence to create Social, Environmental and Economic Benefits and publishing Sustainability Report since 2013.

Prime Bank shows a high level of commitment to sustainable banking and would continue its efforts as sustainability has become fundamental to resilient business. We believe that by taking sustainability into full consideration, we enhance the ability to grow as well as we can and should enable the transition to a sustainable future. Sustainability thereby generates value in itself. As a bank, Prime Bank Limited has identified the material aspects in line with new GRI Standard. The Bank disclosed the relevant material information for its stakeholders. In the report the Bank shows its material impacts within and outside the bank.

As a responsible bank, Prime Bank Limited has been working to reduce carbon emissions directly and also reduce the carbon emission for financing environment friendly business. The bank has formed a Sustainability Reporting Committee to prepare sustainability report annually. Moreover, Prime Bank has incorporated environmental risk management as part of the existing credit risk methodology to assess borrowers through Environmental Due Diligence (EDD) checklists before lending. Moreover, the bank also contributes to the society by providing CSR activities.

Prime Bank allocated Climate Risk Fund of Taka 19.69 million which is 10 percent of the Bank’s CSR Fund for supporting the environmental disaster like flood, cyclone etc. in line with Bangladesh Bank’s directive. Prime Bank Limited reduces carbon emission through using of energy consumption and transport system as well as financing in environmental friendly projects. The bank has been working with its stakeholders to recognize Social, Environmental and Economic issues and contributing to reduce the negative impact through its innovative products and services as well as advanced technologies and the bank has been meeting its stakeholders’ needs and expectations.

Prime Bank’s initiative for Sustainable Financing

Sustainable finance generally refers to the process of taking due account of environmental, social and governance (ESG) considerations when making investment decisions in the financial sector, leading to increased longer-term investments into sustainable economic activities and projects. Prime Bank recognizes that its financing decisions have potential impact on environment, society, human health & the economy. Sustainable financing at Prime Bank demonstrate our commitment to deliver, act responsibly, manage risks and adhere to the highest ethical standards and the Bank is committed to providing financial services that enable sustainable growth and economic progress based on sustainable financing practices.

As a bank, our entire business model is built on creating value. For a sustainable business model to succeed, value cannot only include monetary means, but must internalize environmental, ethical and social aspects. All spheres of society, including the financial sector, must address challenges such as climate change. Sustainability must be clearly defined and spread throughout any organization, and as a financial institution we must interact with our stakeholders in all forums possible.

Prime Bank play an important role in accelerating society’s transition to a lower carbon energy future. The bank also wants to understand the positive environmental effects of its financing activities. Prime Bank is committed to promote sustainable growth in the economy. Thus we have launched Bangladesh Bank’s enlisted 55 green products as under:

ENVIRONMENTALIMPACT

Prime Bank’s approachto Environmental SustainabilityEnvironmental Resposibilites


a) Renewable Energy:

1. Solar Home System, Establishment of following types of Solar Grid on soil surface or rooftop

2. Solar Pico Grid,

3. Solar Nano Grid,

4. Solar Micro Grid,

5. Solar Mini Grid,

6. Solar Park,

7. Net Metering Rooftop Solar System,

8. Solar Irrigation Pumping System,

9. Solar Pump for Drinking Water,

10. Solar Photovoltaic (PV) Assembly/Manufacturing Plant,

11. Solar Cooker Assembly/Manufacturing Plant,

12. Solar Water Heater Assembly/Manufacturing Plant,

13. Solar Air Heater & Cooling System Assembly/Manufacturing Plant,

14. Solar Powered Cold Storage;

Establishment of Biogas Plant using following raw materials:

(i) Agricultural residues (ii) Community based wastes (iii) Industrial wastes

15. Small size biogas plants - 1.2, 1.6, 2.0, 2.4, 3.2 and 4.8 cubic meter gas production per day,

16. Medium size biogas plant : capacity varies between 6 to 25 cubic meter gas production per day,

17. Large size biogas plant having capacity 26 cubic meter gas production per day to 200 cubic meter gas production per day and above,

18. Integrated Cow Rearing and Setting up of Bio-gas Plant,

19. Wind Power Plant,

20. Hydro Power Plant,

b) Energy & Resource Efficiency:

21. Installation of Energy Auditor Certified machineries including boiler in industries for following purposes: i. Energy Efficiency ii. Resource Efficiency iii. Heat and temperature management iv. Air ventilation and circulation efficiency v. Waste Heat Recovery System/Unit,

22. Auto Sensor Power Switch Assembly Plant,

23. Energy Efficient Cook Stove Assembly Plant

24. LED Bulb/Tube Manufacturing/ Assembly Plant

25. Energy Efficient Lime Kiln

26. Improved Rice Parboiling System

c) Alternative Energy:

27. Pyrolysis Oil/Bio-crude Oil/Bio Fuel Manufacturing Plant;

Installation of Effluent Treatment Plant (ETP):

28. Biological ETP

29. Combination of Biological and Chemical ETP

30. Conversion of Chemical ETP into Combination of Biological and Chemical ETP

31. Central ETP

32. Waste Water Treatment Plant

33. Sewage Water Treatment Plant

d) Solid Waste Management:

34. Methane Recovery and Power Production from Municipal Waste Plant

35. Compost Production from Municipal Waste Plant

36. Hazardous Waste Management Unit/Plant


37. Medical Waste Management Unit/Plant

38. E-Waste Management Unit/Plant

39. Sludge Management Unit/Plant

e) Recycling & Manufacturing of Recyclable Goods:

40. PET Bottle Recycling Plant

41. Plastic Waste (PVC, PP, LDPE, HDPE, PS) Recycling Plant

42. Paper Recycling Plant

43. Recyclable Bag Manufacturing Plant

44. Recyclable Poly Propylene Thread and Bag Manufacturing Plant

45. Battery (Solar/Led Acid/Lithium Ion) Recycling Plant

f) Environment Friendly Brick Production:

46. Compressed Block-Brick

47. Foam Concrete Brick

48. Environment Friendly/Brick Kiln Efficiency Improvement Project (Tunnel Kiln and HHK)

g) Green/Environment Friendly Establishments:

49. Establishment of Certified Green Industry

50. Establishment of Certified Green Building

51. Establishment/Installation ‘Green Featuring’ in the Buildings/Industries

h) Miscellaneous:

52. Factory’s working Environment and safety of for the workers

53. Production of Vermicompost

54. Production of Palm oil

55. Production of organic fertilizer from salary

Prime bank has been encouraging the business man to set up ETP in their factory, convert their lighting system to LED from general lighting, create awareness among the stakeholder and by converting financial products into energy, the bank is able to estimate environmental benefits enabled by a wide variety of projects in a consistent, comparable way.

We are creating sustainable business by integrating sustainability in to all products and offering. Prime bank has designed its products, services and investment ensuring the environmental benefit in the economy, society and environment, for which, products, services and investment of the bank play an important role in the lives of individuals, business and communities. Our Bank extends credit facility to clients whose business activities lessen ecological damage, endorse energy efficiency and to support communities who are vulnerable to climate change. By doing so, we ensure that we constantly meet our stakeholders’ and business needs and maintain customers’ trust and business continuity. By doing so, the bank also contributes for socio-economic development of Bangladesh.

Status of Sustainable Finance of Prime Bank

Our Bank extends credit facility to clients who endorses energy efficiency, recycling, waste management, health & safety and other green initiatives. In doing so, during the year 2019 the Bank has financed approximately a total of BDT 1900.2 million in green finance of which BDT 1611.4 million was disbursed for establishing a green building, BDT 218.1 million for installation of ETP in a project, BDT 10.00 million for installation of CETP in a project, BDT 48.0 million in a waste heat recovery project, BDT 12.7 million in a LED Bulb/Tube Assembly Plant. In addition to the above, to explore new ventures in environment friendly projects, the Bank has conducted field visit, meetings with existing and prospective entrepreneurs and Central Bank officials. The outcome is positive and we aspire to see the ultimate outcome of this endeavor.

Financing to ensure Safe Working Environment for the workers

We are focusing to ensure Safe Working Environment for the workers of labour intensive industry by providing sustainable financing. In Bangladesh ready-made garment (RMG) industry is one of the most important export oriented business sector, which is facing challenges to ensure workplace safety. The garment industry of Bangladesh has very significant contributions to the country’s development process in terms of foreign earnings, employment opportunities, women empowerment and bringing social change. Workplace safety is one of the most important issues in the industries worldwide, which is endangered by industrial accidents. Different industrial disasters resulted in several initiatives worldwide to protect human life and reduce material damage, both nationally and internationally.


Effluent Treatment Plant (ETP)

Prime Bank has been ensuring necessary measures to protect environmental pollution while financing a new project or providing working capital to the existing enterprises. Industries produce waste water, otherwise known as effluent, as a bi-product of their production. The effluent contains several pollutions, which can be removed with the help of an effluent treatment plant (ETP). The “clean” water can then be safely discharged into the environment. Effluent can be treated in a number of different ways depending on the level of treatment required. These levels are known as preliminary, primary, secondary and tertiary (or advanced). The mechanism for treatment can be divided into three board categories: physical, chemical and biological, which all include a number of different processes. Physical unit operation include among other processes screening, flow equalization, sedimentation, clarification and aeration. Chemical unit processes are always used with physical operations and may also be used with biological treatment processes, although it is possible to have a purely physico-chemical plant with no biological treatment. Chemical processes use the addition of chemicals to the waste water to bring about changes in its quality. They include pH control, coagulation, chemical precipitation and oxidation. Biological treatment is an important and integral part of any waste water treatment plant that treats waste water from either municipality or industry having soluble organic impurities. The obvious economic advantage, both in terms of capital investment and operating costs, of biological treatment over other treatment processes like chemical oxidation; thermal oxidation etc. has cemented its place in any integrated waste water treatment plant. The objective of biological treatment of industrial wastewater is to remove or reduce the concentration of organic and inorganic compounds. Biological treatment process can take many forms but all are based around micro-organisms, mainly bacteria. No development work would be sustainable by damaging the environment. The Government of Bangladesh also instructed the respective authorities to ensure that central effluent treatment plants (CETP) are set up in industrial areas to prevent river water from being contaminated by chemical-mixed waste and water. Prime Bank Limited has already started screening in financing those businesses that may deteriorate the environment. During 2019, the Bank has financed an amount of BDT 218.1 million for installation of ETP in a project, BDT 10.0 million for installation of CETP in a project.

Green Transformation Fund (GTF)

Prime Bank Limited was pioneer in obtaining refinance from Green Transformation Fund (GTF) from Bangladesh Bank. During the year 2019, Prime Bank Limited applied loan for GTF from Bangladesh Bank on behalf of its customers and successfully obtained fund of USD 18.60 million from GTF which was disbursed among multiple customers who are engaged in export oriented manufacturing industry to accelerate sustainable growth in the country.

Agriculture Financing

Prime Bank Limited recognized the overall economic development of Bangladesh is closely interlinked with the development of the agricultural sector. At the moment, 14% of Bangladesh’s GDP originates from agricultural sector, and the sector absorbs about 40% of the total labor force of the country, which indicate that Agriculture is one of the key driving forces of the economy of Bangladesh. There is no alternative but to increase production through the development of agriculture to ensure food security. Similarly, agriculture is still now the largest employment generating sector of Bangladesh. Besides, agriculture makes the largest contribution to favorable Balance of Payment position through poverty alleviation, providing raw materials for industry, reducing imports and enhancing exports.

Prime Bank understands that Agriculture / Rural Credit is one of the major tools for ensuring “inclusion” of the rural people into the banking activities, and plays a major role in the overall economic development of the country. As such Bangladesh Bank’s timely guidance to focus on this sector has created a far reaching effect not only on this particular sector but on the economy as a whole. Prime Bank, in line with the guidance of Bangladesh Bank, has been relentlessly working to increase its activities in the agricultural / rural sector. The Bank has been providing Agriculture Loan in the form of Abad Loan (for crops loan), Khamar Loan (for farm loan) and Nabanno Loan (any agri purpose loan) to meet the working capital and capital expenditure requirements of the farms/ projects/ enterprises/ farmers. Prime Bank has disbursed Agricultural and Rural Credit of BDT 3,578.26 million in 2019. In line with the Agricultural and Rural Credit Policy and Programme of Bangladesh Bank, a target of agricultural credit amounting to BDT 3,510.00 million has been set for Prime Bank for the FY 2019-2020. Out of total target, BDT 2,533.62 million has already been disbursed/achieved between July 2019 and December 2019.

We know that climate change disrupt food availability, reduce access to food, and affect food quality, for which, Prime bank trying to make Agriculture financing to keep the environment green and reduce the emission.

Bangladesh is endowed with a favorable climate and soil conditions for the production of variety of crops all the year round. The major crops cultivated in the country are rice, wheat, jute, pulses, potato, oilseeds, spices, maize, sugarcane and vegetables. For climate change, there is a growing need to change the cropping pattern in the country. Water efficient high value crops (such as maize, spices, oilseeds and pulses) should be promoted in the drought prone region of the country through distribution of high quality seeds and saplings at subsidized price along with provision for agricultural credit at rebate / low interest rate. The Central Bank has advised all banks that Credit facilities shall be allowed at rebate rate (4%) under interest loss compensation scheme of Government for cultivation


of pulse, oil seeds, spices & maize to reduce dependency on import and to save huge amount of foreign exchange incurred for importing the items. Bank may receive 5% interest loss compensation from Government through Central Bank after realizing the loan from borrower in full. Prime Bank Limited has positive intention to contribute in flourishing the crop diversification in the country with a view to attaining multifarious output in production, saving foreign exchange, substituting rice and other conventional crops. In line with this the Bank has financed a substantial amount for cultivation of spices and maize. Credit facilities are allowed at rebate rate (4 percent) under interest loss compensation from Government for cultivation of spices and maize to reduce dependency on import and save huge amount of foreign currency incurred for importing the items. During the year of 2019, PBL has disbursed Tk. 5.81 million among 70 farmers at rebate rate (4 percent) for cultivation of species and maize. Moreover, Prime Bank has disbursed Tk. 5.80 million to 10 (ten) taka account holders under financial inclusion program during the year of 2019.

Environmental Responsibility GRI 301 , GRI 302, GRI 303, GRI 305

Prime Bank is committed to acting sustainability in its everyday business and the bank believes that strong sustainability practice is important for moving forwards being a sustainable entity in the society. In Prime Bank Limited, green banking is not just another way of doing corporate social responsibility (CSR) rather it is an effort to keep the earth livable. Fundamentally green banking refers to endorsing environment-friendly practices and reducing carbon footprint from banking activities. As already mentioned that Green Banking is promoting ecofriendly banking practices and reducing emitted carbon mark from banking activities, our bank’s green banking activities mainly focuses on two principles. First, we emphasize green practices in our day to day operation by consuming less energy, introducing digitalization and other measures to minimize the carbon footprint from our day to day operation. Secondly, we engage in extending credit facility in green products and showcase environmental and social responsiveness in our credit policy. There is growing evidence suggesting that climate change risks have important implications for financial stability, although the analysis of the complexity of the potential risks to the financial sector is still at early stage. Banks loan exposure to elevate environmental risk. Banks have to emphasis to assess the environmental risk before lending as the banks loan exposure raise environmental risk.

The operations of Prime Bank do not generate significant environmental and social impacts, but the way its client / investees manage impacts of its operations may pose risks to Prime bank as a Financial Institution.

Green Banking Governance & Internal Management of Environmental Resources GRI 103-2, GRI 103-3

The Bank has updated its governance structure in regard to sustainability by accommodating Bangladesh Bank’s latest directives to foster green governance. As per instruction of Bangladesh Bank vide SFD Circular No. 02, Prime Bank Limited has established Sustainable Finance Unit (SFU) under CRM Division. Moreover, Sustainable Finance Committee has already been formed chaired by the senior most Deputy Managing Director of the Bank. The Risk Management Committee (RMC) of the Board of Directors approves policies, strategies and programs related to Sustainable Banking and Sustainable Finance (Green Banking, E&S Risk Management and CSR) programs.

As part of constant commitment of Prime Bank to adopting a quality approach, the bank continues to focus on refining its management systems across the business to include sustainability considerations. This enables us to identify synergies and opportunities for increased efficiency. For reducing environmental footprint of products and services of Prime Bank Limited as well as reduction of cost and to ensure Green Banking Governance, the bank has formed the following unit and committee:

Green Banking Governance A. Sustainable Finance Unit (SFU)

As per BB SFD Circular No. 02, Prime Bank established SFU under direct supervision of Head of CRM Division. The ToRs of SFU are as under:

� Formulation, amendment and implementation of Green Banking policy, Green Office Guide, E&S Risk Management Policy and other related policy

� Participation agreement signing and applying Refinance from BB

� Support in annual budget preparation & escalation |

� Provide necessary assistance to internal & external stakeholders

� Assisting Sustainable Reporting Committee (SRC) & FAD in preparing Annual Sustainability Report

� Update RMC of the Board regarding Sustainable Banking

� Regulatory & Internal Reporting

B. Sustainable Finance Committee

As per BB SFD Circular No. 02, Prime Bank established SFC chaired by senior most DMD. The ToRs of SFC are as under:

� Approve, monitor & evaluate the activities of Sustainable Finance Unit at management level.


� Set annual objective of Sustainable Finance Unit and evaluate its performance.

� Ensure appropriate coordination and support among all relevant division of the Bank to accomplish the activities of Sustainable Finance Unit.

C. Risk Management Committee (RMC) of the Board of Directors has been established as per Bangladesh Bank Guidelines and empowered Risk Management Committee (RMC) of the Board of Directors to approve policies, strategies and programs related to Sustainable Banking and Sustainable Finance (Green Banking & CSR) programs.

D. Established Sustainability Reporting Committee comprising of cross departmental representation. The Committee works for gathering information for General Standard Disclosures. The committee also ensures their presence during the dialogue with key stakeholders to list and define material Aspects to be reported on, and to make recommendations to executive team on this.

Green Banking Policy of Prime Bank

In line with BRPD Circular No.02 dated February 27, 2011 of Bangladesh Bank; Prime Bank Limited outlined a comprehensive Green Banking Policy for implementing Green Banking activities. The Green Banking Policy of the Bank which was duly approved by the Board of Directors and circulated vide instruction circular aamong all employees. The Bank is committed to update this policy on regular interval with approval of the Board of Directors.

Green Office Guide of Prime Bank

As part of Prime Bank’s continuous effort of positively upholding the Green Banking initiatives, the Bank has developed Green Office Guide as a general guideline to facilitate the in-house green banking objectives of the Bank. Our Green Office Guide has pictorial demonstration for better understanding of the readers. The Green Office Guide of the Bank was formulated and circulated by SFU vide instruction circular among all employees.

Environmental and Social (E&S) Risk Management

Environmental and Social (E&S) Risk refers to the uncertainty or probability of losses that may originate from any adverse environmental or climate change events or non-compliance with prevailing environmental regulations related to E&S issues. The impact of climate change is undeniable in our country. We not only ensure a proper mitigation strategy while extending credit facilities, but also make sure that our dedicated relationship team is closely monitoring and counseling customers to assist them to efficiently handle adverse E&S situations. Simultaneously, to safeguard our environment from further deterioration, we place strong emphasis on sustainable banking practice. In 2019, we took multiple measures to demonstrate our commitment towards sustainability. We have a culture to promote sustainable actions through our banking operations. Our relationship team, credit officials and Sustainable Finance Unit (SFU) worked persistently throughout the year to guarantee the maximum E&S due diligence in finance. Furthermore, we have amplified our SFU capability, while our employees have participated in trainings on sustainable banking. This, in turn, has enabled us to expand our capacity regarding E&S Risk Management.

Incorporation E&S Risk Management in CRM

Prime Bank has adapted Guidelines on Environmental & Social Risk Management (ESRM) to understand and manage risks arising from environmental & social concerns as per directives of Bangladesh Bank. Subsequently, this guideline has been made integral part of CRM policy. This will bring a focus on planning and implementing policies and procedures to mitigate environmental & social risks associated with financing decisions. With a view to incorporating environmental & social risks as part of existing credit risk methodology to assess a prospective borrower, Bank’s ESRM Policy has been designed in line with Bangladesh Bank guidelines. Environmental & Social risks are to be considered as part of the existing credit risk methodology of the bank to assess a prospective borrower.

Environmental & Social Risk Rating

Prime Bank strictly followed the Environmental & Social Risk Management Policy & Procedure published by Bangladesh Bank. As per Environmental & Social Risk Management Policy & Procedure, we conducted Environmental & Social Risk Rating for all applicable projects.

Major In-house Green Initiatives

Solar panels at Bank premises

Till date The Bank has installed solar panels at 36 branches as well as at 4 ATM booths and as part of its commitment to the usage of renewable energy resources.


Automated Teller Machine (ATM)

In addition to the Bank’s own 160 ATMs, the Bank has joined National Payment Switch Bangladesh (NPSB) network which enabled the cardholders of the Bank to enjoy cash withdrawal facility from other ATMs under NPSB Network.

Internet Banking Service

With I-banking facility, customers of our bank can perform activities like: real-time fund transfers between own accounts of prime bank limited, real-time fund transfer to third party beneficiary accounts of prime bank limited, interbank fund transfer to other banks, credit card bill payment, real-time balance enquiry, real-time FDR & deposit scheme information, real-time loan information, real-time account statement download, instant recharge of prepaid/postpaid mobile account of any local telecom operator etc.

Real Time Gross Settlement (RTGS)

Bank has successfully implemented and optimized Real Time Gross Settlement (RTGS) solution in branches. As a result, customers are enjoying real time fund settlement facility.

National Identity Card (NID) Verification System

National Identity Card (NID) verification service has enabled the option to verify the NID card of customers through online. As prior to opening of any account NID verification is mandatory thus by using this service our Bank has reduced the possibility of fraud-forgery and improved the banking service.

Video Conferencing

Video conferencing has been introduced among Head Office and other premises of the Bank in order to save business travel time and fuel by holding virtual meeting.

LEED Certified Environment Friendly Head Office

One of our head office is located in a LEED (Leadership in Energy and Environmental Design) certified Green Building located at Simple Tree Anarkali, 89 Gulshan Avenue, Gulshan-1, Dhaka with utmost efficient utility, energy and resources systems. This LEED certified building exemplified our corporate identities and commitment towards environment through energy efficiency, water conservation. In terms of energy consumption, the building system significantly reduces cost incurred for energy. To maximize energy performance and reduce the impact on the environment from excessive energy the building has daylight harvesting, occupant sensing lighting control and energy efficient lighting. As a result, total energy consumption has been reduced by a significant level. Moreover, to maximize indoor water efficiency and reduce the burden on the municipal water supply and wastewater systems, the building utilizes low-flow fixtures including water closets and sinks. As a result, the building’s calculated water consumption has been reduced significantly

Green Event organized by Prime Bank

Earth Day celebration

To observe Earth Day on 22nd April, 2019 an advertisement for print media was developed and published in leading daily newspapers

Source : The Financial Express; April 23, 2019


Environmental & Social (E&S) Risk Management Capacity Building

During 2019, Prime Bank organized five (05) dedicated training for 184 its officials in order to familiarize concept related to Environmental & Social Risk Management.

Internal Management of Environmental Resources

We, Prime Bank remain committed to promoting transparency, engaging with our stakeholders, and taking bold actions that will enable the bank, our people, and our planet to thrive in the future. And we continue to be inspired by the challenge.

Prime bank is working to reduce its operational footprints on the environmental protection into account when making lending decisions.

The Bank has updated its governance structure in regard to sustainability. As part of our sustainability strategy, we are committed to issuing an annual sustainability report that follows the Global Reporting Initiative’s (GRI) guidelines. Prime Bank is spreading its wings by introducing both in-house & external Green activities towards supporting Green Economy. Prime Bank’s sustainability strategy entails adopting environmentally responsible operations, monitoring our consumption of internal environmental resources and embracing efficiency as a way to reduce the environmental footprint of our operations.

We are realizing this commitment through working on reducing the environmental footprint of our products and services through paperless banking, working on embracing operational efficiency as our mantra, promoting sustainable procurement practices, and continue promoting sustainable culture among our employees.

By using the Global Reporting Initiative (GRI) standards, reporting organizations can generate reliable, relevant and standardized information with which to assess opportunities and risks, and enable more informed decision-making – both within the business and among its stakeholders. By developing and communicating their understanding about the connections between sustainability and business, companies can enhance their value, measure and manage change, and drive improvement and innovation.

We believe that, together with our stakeholders, we can and should enable the transition to a sustainable future, or at least a more stainable one.

Environmental Impact 300

Prime Bank has a commitment to its stakeholders and the community to operate in a way that advances sustainability and reduces environmental impact. As per GRI standards, activities and relationships of all organizations have the followings impacts on the environment:

GRI 301 : Materials Consumption GRI 301 addresses the topic of materials. The disclosures in this standard can provide information about Prime Bank’s impacts related to materials, and how it manages these impacts.

GRI 302 : Energy Usage GRI 302 addresses the topic of energy. An organization can consume energy in various forms, such as fuel, electricity, etc. Using energy more efficiently and opting for renewable energy sources is essential for combating climate change and for lowering an organization’s overall environmental footprint. For which, Prime Bank has been disclosing its impacts and manages the impacts by using energy more efficiently.

A learning initiative of HR Training & Development Team


GRI 303 : Water Usage GRI 303 address the topic of water. Access to fresh water is essential for human life and wellbeing, and is recognized by the United Nation as a human right. An Organization can impact water resources through its withdrawal and consumption of water. Prime Bank uses water more efficiently.

GRI 304 : Biodiversity GRI 304 addresses the topic of Biodiversity.

GRI 305 : Emissions GRI 305 addresses emissions. This standard can be used by an Organization of any size, type, sector or geographic location that wants to report on its impacts related to this topic. As a responsible organization, Prime Bank recognized that GHG emissions are a major contributor to climate change, for which, the bank has been using this standard to report on its impact related to this topic.

GRI 306 : Effluents and waste GRI 306 addresses the topic of Effluents and waste.

GRI 307 : Environmental Compliance GRI 307 address the topic of Environmental Compliance.

GRI 308 : Supplier environmental assessment GRI 308 address the topic of Supplier environmental assessment. An organization might be involved with impacts either through its own activities or as a result of its business relationships with other parties. For which, Prime Bank has been maintaining Due diligence in order to prevent and mitigate negative environmental impacts in the supply chain.

Although, all organizations have the impacts on the above mentioned material topics on the environment (i.e. GRI 301 to GRI 308) as per new GRI standards, but all the above topic may not be material for a specific organization, which may differ based on activities of the organization.

Considering the banking business operations, Prime Bank’s direct environmental impacts are limited to paper, energy, water consumption, and the greenhouse gases (GHG) emissions they produce. Prime Bank is an environmentally responsible bank, for which, the bank is trying to reduce the negative impacts on environment by initiating its activities. Recently the bank is constructing its own tower for its official purpose and the same will be the Green Building.

Material Topics in terms of Environmental Aspect of Prime Bank:

Material Topics & topic specific disclosure Status of Prime BankGRI 301 Materials 301-1 Materials used by weight or

volume� 1,7383 Reams of paper have been consumed by the bank in 2019,

whereas, 1,5527 Reams of paper had been consumed in 2018.� The required papers have been purchased from external suppliers.

301-2 Recycled input materials used

� Prime bank has introduced 3R (Reduce, Reuse and Recycle) approach and by using this approach, the bank is able to preserve the used paper in a basket and the one side used papers are also used for printing draft copies of the office assignments. After using both pages and if the paper deemed as wastage, the same will be destroyed by using paper sadder machine and the bank supply the same to the ultimate user to use the same as their Raw material.

� percentage of recycled input papers used = 8.07%

� Calculation:

We know that percentage of recycled input papers used = Total recycled input materials used / Total input materials used= 1403 / 17383 *10017383= 8.07%percentage of recycled input papers usedNote:Total input materials used = 17383 reamsTotal recycled input materials used = 1403 Reams


301-3 Reclaimed products and their packaging materials

As part of Green Marketing, Prime Bank commenced the mandatory use of jute in product packaging.Currently no adequate data is available to disclose the information.

GRI 302 Energy 302-1 Energy consumption within the organization

� Prime Bank’s Energy Efficiency Guidelines introduced for reducing Electricity Consumption of Prime Bank Limited.

� In 2019 , Prime Bank’s electricity consumption decreased by 40.24% compared to 2018 considering Head office consumption, whereas, in 2018, electricity consumption increased by 38% compared to 2017;

� Electricity consumption per employee (Head Office) was 1,407 kwh in 2019, whereas, Electricity consumption per employee was 1,216 kwh in 2018;

� Up to year 2019, the Bank has installed solar panels at 36 branches as well as at 4 ATM booths and MSME unit offices as part of its commitment to the usage of renewable energy resources. 14.58 kw Renewable Energy has been generated from those solar panels.

� In 2019, Diesel Consumption (Liters) increased by 1,206.86% compared to 2018, whereas, in 2018, Diesel Consumption (Liters) reduced by 7.05% compared to 2017;

� In 2019, Gasoline Consumption (Liters) reduced by 22.73 % compared to 2018 , whereas, in 2018, Gasoline Consumption (Liters) reduced by 11.19% compared to 2017;

� In 2019, Electricity Generators (Liters) reduced by 8.81% compared to 2018, whereas, in 2018, Electricity Generators (Liters) reduced by 48.79% compared to 2017;

� In 2019, Diesel Consumption (GJ) increased by 1,207.35% compared to 2018, whereas, in 2018, Diesel Consumption (GJ) reduced by 7.06% compared to 2017;

� In 2019, Gasoline Consumption (GJ) reduced by 22.73% compared to 2018, whereas, in 2018, Gasoline Consumption (GJ) reduced by 11.19% compared to 2017;

� In 2019, Electricity Generators (GJ) Consumption (GJ) reduced by 6.37% compared to 2018, whereas, in 2018, Electricity Generators (GJ) Consumption (GJ) reduced by 48.79% compared to 2017.

302-2 Energy consumption outside of the organization

� Business travel is not disclosed in the form of Fleet Diesel Consumption (Liters), Fleet Gasoline Consumption (Liters) or Mega Joules, Liters and like this as the Bank does not have a system to accumulate these numbers currently.

302-3 Energy intensity Intensity ratios are often called normalized environmental impact data. In combination with the organization’s total energy consumption, reported in Disclosures 302-1 and 302-2, energy intensity helps to contextualize the organization’s efficiency, including in relation to other organizations� Electricity consumption (with in the bank) per employee (Head

Office) was 1407 kwh in 2019, whereas, in 2018, Electricity consumption (with in the bank) per employee was 1,216 kwh;

� Electricity consumption per square meter (m2) was 152.72kwh in 2019, whereas, in 2018, Electricity consumption per square meter (m2) was 234.12 kwh ;

� The Bank has achieved a remarkable decreased in Vehicle Fuel consumption in all segments except Diesel Consumption.

� 34.77% decreasing in total electricity consumption per square area ( Head Office) in 2019, compared to previous year;

� 15.71% increasing in total electricity consumption per employee (Head Office) in 2019, compared to previous year.


302-4 Reduction of energy consumption

In order to energy efficiency, the following initiative has been taken by the bank:Florescent tube tight, incandescent lamp and general bulb have been replaced by Energy saving LED bulb and panel light.

� In 2019, Diesel Consumption (Liters) increased by 1,206.86% compared to 2018, whereas, In 2018 Diesel Consumption (Liters) reduced by 7.05% compared to 2017;

� In 2019, Gasoline Consumption (Liters) reduced by 22.73% compared to 2018, whereas, In 2018 Gasoline Consumption (Liters) reduced by 11.19% compared to 2017;

� In 2019, Electricity Generators (Liters) reduced by 8.81% compared to 2018, whereas, In 2018 Electricity Generators (Liters) reduced by 48.79% compared to 2017;

� In 2019, Diesel Consumption (GJ) increased by 1207.35% compared to 2018, whereas, In 2018 Diesel Consumption (GJ) reduced by 7.06% compared to 2017;

� In 2019 Gasoline Consumption (GJ) reduced by 22.73% compared to 2018, whereas, In 2018 Fleet Gasoline Consumption (GJ) reduced by 11.19% compared to 2017;

� In 2019 Electricity Generators (GJ) Consumption (GJ) reduced by 6.37% compared to 2018, whereas, Electricity Generators (GJ) Consumption (GJ) reduced by 48.79% compared to 2017.

302-5 Reductions in energy requirements of products and services

The Bank has installed solar panels at 36 branches as well as at 04 ATM booths and MSME unit offices as part of its commitment to the usage of renewable energy resources. 14.58kw Renewable Energy has been generated from those solar panels.

We are using maximum Day light, Solar panels. We know that Improvements in energy efficiency are generally achieved by adopting a more efficient technology. Being a green bank, Prime Bank has Installed LED lighting, fluorescent lighting & solar Panel as well as using natural skylight windows that reduce the amount of energy required to attain the same level of lighting compared to using traditional incandescent light bulbs. Moreover, to reduce energy, all employee are advised to reduce electricity consumption by proper utilization of AC, light, fen and other devices.

As a bank the calculation for reduction in energy requirements of products and services is very difficult for which, the reduction numbers are not available.

GRI 303 Water 303-1 Interactions with water as a shared resource

� The bank collects water from government authority through water line. Basically, the bank preserves the water in the water tank and consume the same for the employees of the bank as usual. As such, the effluent may not be generated by using the water.

� As the nature of banking business, Prime Bank does not contribute to produce effluent directly or indirectly.

� The Bank does not have a system to calculate the water related impacts.

� The bank provides the poor to set up of tubewell for ensuring pure drinking water under CSR activities.

303-2 Management of water discharge related impacts

Bank is a service provider for which, this is not material for the bank. Generally water is provided by the water authority of the Government.


303-3 Water withdrawal � Bank is a service provider for which, this is not material for the bank. � The bank collects water from government authority through water

line. Basically, the bank preserves the water in the water tank and consume the same for the employees of the bank as usual. As such, the effluent may not be generated by using the water.

� Moreover, the bank also purchases pure water from different supplier for drinking

303-4 Water discharge � As the nature of banking business, Prime Bank does not contribute to produce effluent directly or indirectly. However, Prime Bank has own water discharge process to ensure not to increase effluent.

303-5 Water consumption � Total utility Water consumption (Drinking Water) of Prime Bank (Head Office) was 11.00 (m³) in 2019 & 2.09 (m³) in 2018.

� Moreover, total Utility water consumption (Toilet, Sewerage and Wash) of Prime Bank (Head Office) was 63,560 (m³) in 2019.

� Total Water Consumption ( Drinking Water) per Employee was 0.00663 (m³) in 2019;

� Total Water Consumption (Toilet, Sewerage and Wash) per Employee was 38.31 (m³) in 2019.

GRI 305 Emissions 305-1 Direct (Scope 1) GHG emissions

� 218.16 Metric Tons of CO2 equivalent GHG emissions produced as Gross Direct (Scope 1) in 2019, whereas, 337.13 Metric Tons of CO2 equivalent GHG emissions produced from Gross Direct (Scope 1) in 2018;

� 0.88 Metric Tons of CO2 equivalent GHG emissions produced from Gas in 2019, whereas 1.19 Metric Tons of CO2 equivalent GHG emissions produced from Gas in 2018;

� 211.55 Metric Tons of CO2 equivalent GHG emissions produced from Octane in 2019, whereas 313.49 Metric Tons of CO2 equivalent GHG emissions produced from Octane in 2018.

� 0.26 Metric Tons of CO2 equivalent GHG emissions produced from Diesel in 2019, whereas 22.45 Metric Tons of CO2 equivalent GHG emissions produced from Diesel in 2018.

� 5.47 Metric Tons of CO2 equivalent GHG emissions produced from LPG in 2019;

305-2 Energy indirect (Scope 2) GHG emissions

� 2,194.20 Metric Tons of CO2 equivalent GHG emissions produced from Electricity as Indirect ( Scope 2) in 2019, whereas 3,671.43 Metric Tons of CO2 equivalent GHG emissions produced from Electricity as Indirect ( Scope 2) in 2018.

305-3 Other indirect (Scope 3) GHG emissions

� Prime Bank currently does not track scope 3 emissions.

305-4 GHG emissions intensity � Per employee ( Head Office) GHG emissions 1.32 Metric Ton.

� Net Savings on energy efficiency for Tk. 546.35 million.

� In 2019, 118.97 Metric Tons (35.28%) of CO2 equivalent GHG emissions reduced compared to 2018 by efficient using of Gas, LPG, Octane & Diesel [Gross Direct (Scope 1)], whereas, in 2018, 51.53 Metric Tons (13.25%) of CO2 equivalent GHG emissions reduced compared to 2017 by efficient using of Gas, Octane & Diesel [Gross Direct (Scope 1)];

� In 2019, 0.31 Metric Tons (26.05%) of CO2 equivalent GHG emissions reduced compared to 2018 by efficient using of Gas (CNG);

� In 2019, 5.47 Metric Tons of CO2 equivalent GHG emissions produced by using of LPG;

� In 2019, 101.94 Metric Tons (32.52%) of CO2 equivalent GHG emissions reduced compared to 2018 by efficient using of Octane, whereas, in 2018, 6.39 Metric Tons (2%) of CO2 equivalent GHG emissions reduced compared to 2017 by efficient using of Octane;

� In 2019, 22.19 Metric Tons (98.84%) of CO2 equivalent GHG emissions reduced compared to 2018 by efficient using of Diesel, whereas, in 2018, 28.38 Metric Tons (56%) of CO2 equivalent GHG emissions reduced compared to 2017 by efficient using of Diesel.


� In 2019, 1,477.23 Metric Tons (40.23%) of CO2 equivalent GHG emissions reduced compared to 2018 by using of Electricity efficiently [Indirect ( Scope 2)], whereas, in 2018, 1,463.47 Metric Tons (66.28%) of CO2 equivalent GHG emissions increased compared to 2017 by using of Electricity [Indirect ( Scope 2)]

305-5 Reduction of GHG emissions Relevant for bank

� In 2019, 1596.2 Metric Tons (39.82%) of CO2 equivalent GHG emissions has been decreased from Gross Direct (Scope 1) & Indirect ( Scope 2) compared to 2018, whereas, in 2018, 1,411.94 Metric Tons (54.37%) of CO2 equivalent GHG emissions has been increased from Gross Direct (Scope 1) & Indirect ( Scope 2) compared to 2017.

� 118.97 Metric Tons of CO2 equivalent GHG emissions has been reduced from Gross Direct (Scope 1) compared to 2018, whereas, in 2018, 51.532 Metric Tons of CO2 equivalent GHG emissions has been reduced from Gross Direct (Scope 1) compared to 2017.

� In 2019, 1,477.23 Metric Tons (40.23%) of CO2 equivalent GHG emissions has been increased from Indirect ( Scope 2) compared to 2018, whereas, in 2018, 1,463.47 Metric Tons (66.28%) of CO2 equivalent GHG emissions has been increased from Indirect ( Scope 2) compared to 2017;

� In 2019, 0.31 Metric Tons of CO2 equivalent GHG emissions has been reduced from Gas compared to 2018, whereas, in 2018, 16.757 Metric Tons of CO2 equivalent GHG emissions has been reduced from Gas compared to 2017;

� In 2019, 101.94 Metric Tons of CO2 equivalent GHG emissions has been reduced from Octane compared to 2018, whereas, in 2018, 6.39 Metric Tons of CO2 equivalent GHG emissions has been reduced from Octane compared to 2017;

� 22.19 Metric Tons of CO2 equivalent GHG emissions has been reduced from Diesel compared to 2018, whereas, in 2018, 28.38 Metric Tons of CO2 equivalent GHG emissions has been reduced from Diesel compared to 2017.

� 5.47 Metric Tons of CO2 equivalent GHG emissions has been produced by using LPG in 2019.

305-6 Emission of ozone depleting substances (ODS)

Due to the nature of business of Prime Bank, the bank does not generate ozone depleting substances (ODS).

305-7 Nitrogen oxides (NOX), sulfur oxides (SOX), and other significant air emissions

Due to the nature of business of Prime Bank, the bank does not generate ozone depleting substances (ODS).

GRI 307 Environmental compliance

307-1 Non-compliance with environmental laws and regulations

No monetary value of significant fines and non-monetary sanctions.

GRI 308 Supplier environmental assessment

308-1 New suppliers that were screened using environmental criteria

� Total number of supplyers : 257

� Total number of local supplyers : 250

� Total New supplyers : 40

� Percentage of New supplyers = 15.56%

� Percentage of Local supplyer 97.27%

308-2 Negative environmental impacts in the supply chain and actions taken

Purchasing practices have significant impacts, both socially and environmentally. Where we buy products, what they are made of, who made them and what will happen to them when we are finished all need to be considered.

Avoid purchasing from the supplyers who has significant actual and negitive impact as per our procurement policy.


Paper Consumption 301-1, 301-2, 301-3

Green Printing Guideline is an integral part of our Green Office Guideline which is being circulated among all employees. Internal communications are done through emails. All staffs have dedicated email IDs for office use. Customer communications are being done through emails, SMS or ATM displays also. Use of scrap or one side used papers has become usual practice in the workplace. One side used papers are also used for printing draft copies of the office assignments. All divisions and branches have been instructed to maintain a stock in-out register to prevent misuse of papers.

For reducing the environmental impact of paper consumption of Prime Bank; the Bank has been optimizing its internal operations through moving to a paperless environment, and introducing products and services that aim to reduce and eliminate paper consumption for its customers through digitalization.

Prime Bank Paper Reduction Framework GRI 301-1

ImpactParticulars 2017 2018 2019

Paper Consumed at Head Office (Number of Sheet)

17,012 Ream 15,527 Ream 17,383 Ream

Paper Consumed at Head Office (Amount)

5,790,201.00 5,171,004.00 55,49,244.00

Paper Saved at Head Office (Number of Sheet)

-1,385 Ream 1,485 Ream -1,856 Reams

Paper Saved at Head Office (Amount)

-640,268.70 619,197.00 -378,240.00

Initiative to reduce paper consumption

Paper Consumption Management:

� Implemented Automation Software in order to reduce paper consumption ;

� Implemented Paperless End to End Process to promote the MSME business in a more focused way along with generating profit through MSME business development;

� Per day 40 requisition (Stationery items, paper, cartridge etc.) came throughout the Divisions/Branches/SMEs by Online based requisition software. As a result 7920 pcs paper is saved in a year, but due to increase volume of work of the bank, no paper was save in 2019, rather excess 1856 Reams of papers have been used in 2019 ;

� We have already started sending approval through mail as a result good amount of paper is saved;

� Divisional all working activities like Requisition, Procurement, Tendering etc. will be managed by ERP and E-Tendering software. Work in progress;

� That will brings more transparency and efficiency, results in saving of time, paper and money, shortening of procurement cycle, ease of operation to the bank;

� Use of scrap or one side used papers for note pad has become usual practice in the workplace;

� One side used papers are also used for printing draft copies of the office assignments;

� Arranging paperless Credit Review Committee meeting (both SME & Corporate) by soft copy presentation;

� Most of the interbank correspondence is done by email instead of letter;

� Requisition for printing & stationery, office stationery, printing of MICR cheque and pool car are done by online requisition software;

� The bank has successfully introduced software named “E-DOC” for Credit Administration Division, which allows electronic archiving of documents against loans along with reminder system for better monitoring and control;

� Trade Service Department has been centralized, which ultimately reduces paper consumption;

� Human Resource Division has successfully launched online performance appraisal system;


� Software named “Agenda and Compliance Management Software” was introduced, which eliminated the process of presenting paper based memo during the meeting of the Executive Committee of the Board;

� Currently nine (9) branches are well equipped to arrange video conference which ultimately reduces official travels and establishment of video conference facilities between major distant offices are under process;

� Implemented Automation Software in order to reduce paper consumption;

� Credit Committee Presentation through projector ;

� LOD operation has been running through automation;

� Online Banking and Internet banking facilities offered by Prime Bank:

� Automated Teller Machine (ATM);

� Software Solution for Reduction paper and emission;

� Going Paperless with our Customer;

� Launched Prime Digi for opening of account through online:

� E-Statements;

� Altitude Banking services (Internet Banking);

� Online Fund Transfer;

� Multiple Account Management;

� Triggered automated advice / Voucher and delivery;

� E-Advice;

� Mail Reengineering / communication: Internal communications are done through emails. All staffs have dedicated email IDs for office use;

Focus Area � Bank’s Internal Operations;

� The bank has given emphases to launch its Products and Services considering the impact on environment, economy and society;

� Divisional working activities like Requisition, Procurement, Tendering etc. will be managed by ERP and E-Tendering software. Work in progress;

� That will brings more transparency and efficiency, results in saving of time, paper and money, shortening of procurement cycle, ease of operation to the bank;

� The bank has given emphases to launch its Products and Services considering the impact on environment, economy and society;

Energy Consumption within the Organization GRI 302-1

Generally, bank’s operations are not energy intensive, However, Prime Bank is committed to reduce its energy consumption. For smooth banking operation, electricity is must now a day as the bank has shifted to automation. Energy consumption comes from National grid, transportation fuel for our fleet and business-related travel. Up to year 2019, the Bank has installed solar panels at 36 branches as well as at 4 ATM booths and MSME unit offices as part of its commitment to the usage of renewable energy resources. 14.58 kw Renewable Energy has been generated from those solar panels. Moreover, most of the bulbs are being used in our office premises are of energy savings in nature. Most of our internal communications are made through electronic mail, which has substantially reduced the paper consumption. As part of environmentally responsible entity majority of the pool vehicles of the Bank has been converted into CNG driven vehicle. Moreover, Prime Bank Limited always encourages its officials to consider Green approaches for any business travel which reduce carbon emission. In addition, use of public transport and car pooling system has been advised by Human Resource Division. The Bank also encourages its executives to convert their cars into CNG driven.

Indirect Energy

Electricity Consumption2017 2018 2019

Total Consumption (kWh) 2,828,690.00 3,905,787.00 2,334,251.00

Total Consumption in Gigajoules (GJ) 1,010,125.00 1,394,756.00 8,403.30

Electricity consumption per sq.m (m2) 170 kwh 234.12 kwh 152.72 kwh

Electricity consumption per employees 808.43 kwh 1,216kwh 1,407 kwh


� 34.77%decreasingintotalelectricityconsumptionpersquarearea(HeadOffice)in2019,comparedtopreviousyear;

� 15.71%increasingintotalelectricityconsumptionperemployee(HeadOffice)in2019,comparedtopreviousyear.

� Thebankhasbeentryingtouseelectricityefficiently.

MajorinitiativehasbeentakenforreducingElectricityConsumptionofPrimeBankLimited:1)UsingLEDlight.

2)Usingrenewableenergy(Solarpanel).

Direct Energy

PrimeBank’stotaldirectenergyconsumptioncomesfromfuelconsumption. ThebankhasachievedaremarkabledecreaseinVehicleFuel consumption in all segments except diesel.

Direct Energy

Vehicle Fleet Fuel Consumption

2016 2017 2018 2019Increased

(Decreased) in 2019 compared to 2018

DieselConsumption(Liters) 1,799.00 596.00 554.00 7,240.00 1,206.86%

GasolineConsumption(Liters) 116,149.00 133,747.00 118,782.00 91,777.00 -22.73%

ElectricityGenerators(Liters) 16,600.00 15,290.00 7,830.00 7,140.00 -8.81%

Total Liters 134,548.00 149,633.00 127,166.00 106,157.00 -16.52%DieselConsumption(GJ) 68.90 22.82 21.21 277.29 1,207.35%

GasolineConsumption(GJ) 3,899.12 4,489.88 3,987.51 3,080.95 -22.73%

ElectricityGenerators(GJ) 619.18 570.32 292.06 273.46 -6.37%

Total GJ 4,587.20 5,083.02 4,300.78 3,631.70 -15.56%

Energy Consumption of the bank during the year 2019 ( Head Office)

Sl Source Consumption Mega Joules Expenditure (taka in million)

1 Gas(CNG) 17,268.00 673,452.00 0.742 Octane 91,777.00 3,080,953.89 8.173 LPG 3,298.00 85,748.00 0.6954 Diesel 100.00 3,830.00 0.003835 Electricity,kwh 2,334,251 8,403,303.60 38.62

Total 12,247,287.49 48.23

Energy Efficiency Table (during the year 2019) (Million Taka)

Sl. Instruments Quantity Cost of Conventional Practice Cost of Green Banking Concept

1 E-Statement 876,609 13.14 Nil2 SMSBanking 3,561 0.45 0.243 SMSAlert 20,486,446 409.73 5.654 NetBanking(Altitude) 266,964 33.56 0.075 Pre-Advice(Throughemail) 6,972 1.04 Nil6 E-mailcorresponding 4,824,000 96.48 2.09

Total Cost 554.40 8.05Net Savings Tk. 546.35 million

Water Consumption GRI 303-5

Bangladeshhasanenormousexcessofsurfacewaterduringthesummermonsoon(JunetoOctober),andrelativescarcitytowardstheendofthedryseasoninAprilandMay.Internalrenewablewaterresourcesareabout105km3peryear,whileinformingtransboundaryriversprovideanother1,100km3annually.

PrimeBankLimitedisverymuchawareaboutefficientuseofwater.Asafinancialinstitutionitsuseofwaterisalreadyverymuchrestricted.Majorconsumptionofwaterisfordrinkingpurpose.Ourbankiswellawaretoensurepureandsafedrinkingwaterforitsemployees.ButnormalsupplywaterinBangladeshisnotsafefordrinking.Therefore,toovercomethesituationeverybranchesandcorporateofficesaresuppliedwithspeciallyprocuredfilteredmineralwater.Forgeneralusageofwaterthemajorsourceofwateris


WASA. The management of the bank puts special attention to the wastage of water at minimum level. Total utility Water consumption of Prime Bank was 11.00 (m³) in 2019 & 2.09 (m³) in 2018. Moreover, total Utility water consumption (Toilet, Sewerage and Wash) of Prime Bank (Head Office) was 63,560 (m³). We are aware of the importance of responsible water consumption in Bangladesh. Prime Bank’s activities in terms of water use are related mainly to employee usage and use for cleaning purposes.

The bank has continued to work on reducing its water consumption by installing water saving devices. Despite the Bank’s efforts to reduce water consumption, total utility water consumption was increased.

Water Consumption

Water Consumption (Drinking water for Head Office)

2017 2018 2019Total Utility Water Consumption (m³) 1.69 2.09 11.00Total Water Consumption per Employee (m³) 0.00047 0.00065 0.00663

Water Consumption (Toilet, Sewerage and Wash for Head Office)

2019

Total Utility (Toilet, Sewerage and Wash) Water consumption(m3) 63,560

Total Water Consumption per Employee (m³) 38.31

GHG Emissions

Prime Bank has been running vehicles by consuming diesel and gasoline, as well as burning diesel fuel for heating buildings and contributed to create Greenhouse Gas (GHG) emissions directly. Besides, the bank also accounts for indirect GHG emissions produced as a result of consuming electricity from the Bangladesh national grid.

GHG Emissions (Head Office): Green House Gas (GHG) Emissions (During 2019) 305-1

Sl Energy source Consumption Mega Joules CO2 Emissions in Metric Tons

1 Gas (CNG) 17,268.00 M3 673,452.00 0.880668

2 Octane 91,777.00 Liters 3,080,953.89 211.545985

3 LPG 3,298.00 Liters 85,748.00 5.474668

4 Diesel 100.00 Liters 3,830.00 0.2639

5 Electricity 2,334,251.00 kwh 8,403,303.60 2,194.20

Total 12,247,287.49 2,412.365221

CO2 conversion : https://www.carbonfund.org/how-we-calculate; http://www.convertworld.com/en/volume/ ; http://www.convertunits.com/from/MJ/to/gallon+[U.S.]+of+diesel+oil; http://people.exeter.ac.uk/TWDavies/energy_conversion/Calculation%20of%20CO2%20emissio ns%20from%20fuels.htm; http://www.ecoscore.be/how-calculate-co2-emission-level-fuel-consumption

Gas (CNG)

Octane

LPG

Diesel

Electricity

GHG Emissions in Metric Tons

2019

90.95%

8.77%0.04%0.23%

0.01%

https://www.carbonfund.org/how-we-calculate

http://www.convertworld.com/en/volume/

http://www.convertunits.com/from/MJ/to/gallon+%5bU.S.%5d+of+diesel+oil

http://www.convertunits.com/from/MJ/to/gallon+%5bU.S.%5d+of+diesel+oil

http://people.exeter.ac.uk/TWDavies/energy_conversion/Calculation of CO2 emissio ns from fuels.htm

http://people.exeter.ac.uk/TWDavies/energy_conversion/Calculation of CO2 emissio ns from fuels.htm

http://www.ecoscore.be/how-calculate-co2-emission-level-fuel-consumption


LABOR & SOCIALIMPACT

Labor Practice & Decent WorkAnti CorruptionHealthy & safe work Environment


Labor Practice & Decent WorkGrowing Towards Sustainable Future:

Today there is no argument that banking industry is going through a hard time. A part from overall banking activities, human resource operations are facing some challenges towards ensuring sustainable future. Prime Bank Limited is not an exception regarding that. Human Resources Division of the Bank has already made significant changes to overcome challenges in making sustainable future.

Sustainable future in respect of human resource management upholds some qualitative attributes such as:

Human resources division of Prime Bank Limited is being managed by highly professional and dedicated team. They persistently focus on understanding above attributes. Human Resources team on the Bank always works hard to ensure healthy sustainable working environment by initiating relevant procedures. A handsome monetary benefit is already ensured to motivate employees through a good performance evaluation practices. Employees are given appreciations in writing if any achievement comes a part from their routine tasks. An in house training and development centre is running with competent employees creating scopes of development in requirement. The Team also follows a well defined exit procedure without any harassment.

Recruitment GRI 202-2

In order to fill up the vacancies and to ensure that the additional human resources are assessed, selected and placed on-time as per required competencies, the Recruitment & Selection team works dedicatedly as per organization’s ‘best fit’ philosophy. Prime Bank has a recruitment policy that clearly states the criteria and procedures to recruit fresh and lateral entrants.

The fresh hires take place as Trainee Assistant (TA) and Sales, Recovery & Support (SRS) Levels. The interested candidates are firstly shortlisted based on qualifications and then appear for written test. Subject to obtaining pass marks in the written test, qualified candidates are interviewed by the Selection Committee.

On the other hand, Bank also recruits experienced candidates as lateral entrants for different functions based on business need. Subject to matching the required qualifications, competency and experience level, lateral entrants are also assessed rigorously by the Selection Committee before appointments.

Prime Bank also has a policy that provides guidelines on appointing contractual employees for a specific period to fulfil the needs of the Bank.

Diversity in Workplace GRI 102-8

Prime Bank believes that diverse, heterogeneous teams generate greater creativity, innovation and business development. An inclusive culture maintains and drives workforce diversity by fostering the exchange of ideas and collaboration among individuals and across groups. To speak simply, our constant success depends in part on maintaining a plurality of perspectives.

Gender diversity among employees:

Gender No. of Emp. PercentageMale 2,442 78.17%

Female 682 21.83%

Total 3,124 100.00%

Besides, our ration of male and female employees has been increasing over the time. Currently, approximately 21.83% of total employees are female. On the other hand, 16.67% of the Board of Directors represents females.

Healthy and sustainable working environment

Securedemployment

Handsome monetary benefits

Appropriate appreciations regarding achievements

Good training and development arrangements

Easy exit procedure etc

LABOR & SOCIALIMPACT

Labor Practice & Decent WorkAnti CorruptionHealthy & safe work Environment


Gender diversity among contractual employees:

Gender No. of Emp. PercentageMale 14 100.00%

Female 00 0.00

Total 14 100.00%

Gender diversity among employees by region:

Region No. of Employees (Female) No. of Employees (Male) Total No. of EmployeesBarishal 3 8 11Chattogram 35 224 259Dhaka 552 1,815 2,367Mymensingh 21 104 125Khulna 1 24 25Rajshahi 24 105 129Rangpur 6 33 39

Sylhet 40 129 169

Total 682 2,442 3,124

All Employees by age group:

Age group No. of Emp. Percentage

Less than 30 years 224 7.17%

30 to 50 years 2,736 87.58%

Over 50 years 164 5.25%

Grand Total 3,124 100.00%

All Contractual Employees by age group:

Age group No. of Emp. Percentage

Less than 30 years 3 21.43%

30 to 50 years 5 35.71%

Over 50 years 6 42.86%

Grand Total 14 100.00%

We practice equal employment opportunity; for competent candidates regardless of their gender, age, locality or ethnicity. While recruiting fresh graduates, the Bank sources the pool from different recognized public and private universities; with a view to creating a diverse work force.

Employees by religion:

Religion No. of Emp. PercentageIslam 2,857 91.45%Hindu 256 8.19%Buddhist 1 0.03%Christian 0 0.00%Total 3,124 100%

Gender diversity among employees/ supervised employees:

Gender No. of Employees PercentageMale 2,146 76.51%Female 659 23.49%Total 2,805 100.00%

**These numbers excluded all Head of Branch(s), Manager–Operations, Divisional Head(s), DMD(s), AMD & MD


Increasing percentage of Female over the years:

Year % of Female Employees

2015 21.64%2016 21.93%2017 20.92%2018 21.17%2019 21.83%

Gender diversity among Board members: GRI 405-1

Gender No. of Members Percentage (%)

Male 15 83.33%

Female 03 16.67%

Total 18 100%

Anti-Corruption GRI 103-1; GRI 103-2; GRI 103-3

It is our policy to operate all of our day to day business activities in an honest and ethical way. We took a zero-tolerance approach to corruption or fraud-forgery and are committed to act professionally, fairly and with integrity in all our relationships and business dealings wherever we operate and to implementing and enforcing effective systems to counter corruption or fraud-forgery. The Bank has ‘Employee Code of Ethics and Business Conduct’ and Prime Bank Limited Employees’ Service Rules, 1995 (with up to date amendment) which works as framework of ethical and business behavior for employees. This provides guidelines on various issues, like, safeguarding customers’ and Bank’s confidential information, preventing money laundering or any fraudulent activity, complying with laws and regulations, etc. If any employee contravenes any provision of ‘Employee Code of Ethics and Business Conduct’, he/she shall be punished under Chapter – VIII & IX of the said Service Rules.

Our honorable Board of Directors are well conversant with all the policies and procedures regarding Anti-Corruption. Prime Bank Limited Family is consisting of nearly 3,212 Employees and 146 Branches in Bangladesh. The Concerned Department regularly conveys the update circulars and instructions regarding Anti corruption to the Branches, Divisions and Departments as well.

Officials/Executives of the Bank inform our Business Partners about recent updates of Anti-Corruption. As a part of communication with Business Partners the Branch Officials/Executives distribute leaflet at the time of opening account and on regular interval to create awareness among the customers. Therefore, the circulars/ leaflets are also displayed at Branches on Notice Board.

National Integrity Strategy

Integrity/ Ethics Committee

As per the Bangladesh Bank’s Instructions first Integrity/ Ethics Committee, Prime Bank Limited, Head Office, Dhaka was formed in the year of 2013 for the implementation of National Integrity Strategy which has been designed and modelled by the Government of People’s Republic of Bangladesh envisioning happy-prosperous and corruption free Bangladesh and establishing rule of law in its different organs/organizations. Thereafter, lastly on 11.12.2018, the abovementioned Committee was restructured. Currently, Mr. Ziaur Rahman, Senior Executive Vice President & Head of Human Resources Division is holding the position of Focal Point of the Committee. Apart from Focal Point, the Integrity/Ethics Committee, Prime Bank Limited, Head Office is comprised of 05 (five) members from different Divisions/ Departments of the Bank, i.e. Branch Distribution Network, Legal Division, Human Resources Training & Development Centre, Brand & Communications and Compliance Department. In addition, 173 Integrity/ Ethics Committee(s) are also formed in different locations in the Bank, i.e. Regional, Cluster-wise & Branch-wise Committee(s).

Integrity Cell

Moreover, on 28.12.2017 a separate “Integrity Strategy Implementation Unit/ Cell”, Prime Bank Limited, Head Office, Dhaka has also been formed comprising of 05 (five) Officials/ Executives of the Bank. This Unit/ Cell came into force with immediate effect and might furnish its obligations according to the guidelines provided by Integrity Strategy Implementation Cell of Bangladesh Bank. Thereafter, on 11.12.2018, the abovementioned Unit/ Cell was restructured.

Innovation Team

Besides, as per Clause No # 6.1 of the National Integrity Strategy work plan and its implementation quarterly progress report, on 11.05.2017 “Innovation Team” is also formed envisioning to ensure customer services at mass people, to increase the standard of services and to make customer friendly access to such services.


Right to Information Act, 2009

Furthermore, reference to the Clause No # 6.3 of abovementioned progress report, the Right to Information Act, 2009 and In line with Bangladesh Bank’s guidance the undernoted Executive/Official(s) of the Bank are appointed as “Appellate Authority” and “Responsible Officer” for Prime Bank Limited as per the Right to Information Act, 2009:

SL Name Responsibility

01. Rahel AhmedManaging Director & CEO Appellate Authority

02.Ziaur RahmanSenior Executive Vice President & HeadHuman Resources Division

Responsible Officer

As per Section 24 of the Right to Information Act, 2009, The “Appellate Authority” shall dispose of the application filed by any person who is aggrieved by the decision of “Responsible Officer”. The “Responsible Officer” shall discharge his duties in accordance with the provisions of Section 7–10 of the said Act.

Awareness Program

As per the implementation process of integrity strategy in the Prime Bank Limited, topic on “Integrity/ Ethics, Code of Conduct, The Right to Information Act, 2009, The Whistleblower (Protection) Act, 2011, The Whistleblower (Protection) Rule, 2017 and Prevention of Money Laundering and Combating Terrorist Financing” have already been included in training curriculum and Human Resources Training & Development Centre (HR–TDC) has also started its effort in this regard. Beside this Anti Money Laundering & CFT Division has also arranged refreshers training for the employees of the Bank. It is also worth mentioning here that the Branch Distribution Network of the Bank in their regular monthly meeting with Head of Branches and Other Branch Executives/ Officials conducts a session titled “Improvement of Ethical Values of Officials”.

Training on “Ethical Standard”: January–December, 2019

SL Training Title No. of Participants

1 Code of Conduct (Bangladesh Bank) 722

2. Ethics & Integrity in Bank 809

3. Public-Interest Information Disclosure Act 708

4. The Rights to Information Act, 2009 712

5. Anti Money Laundering & CFT Training 575

Total 3,526

Reporting

Integrity Strategy Work Plan and Implementation quarterly report of Prime Bank Limited is submitted to Bangladesh Bank regularly.

Prevention of Money Laundering and Combating Terrorist Financing GRI 103-1; GRI 103-2; GRI 103-3

To comply every provision of Money Laundering Prevention Act-2012 (with amendment in 2015) and Anti-Terrorism Act-2009 (with amendment in 2012 & 2013), AML & CFT Division has formulated its own guidelines named “ PBL Money laundering & Terrorist Financing Risk Management Guidelines” in March 2019 duly approved by the Board of Directors. This guidelines ensure the effectiveness and involvement of all the employees of the bank in preventing ML and TF through the banking operations. It also depicts the role and responsibility of all level of employees as a part of overall compliance culture of the bank.

The AML & CFT program of the bank is controlled under the leadership of Chief-Anti Money Laundering Compliance Officer (CAMLCO) and Deputy CAMLCO & Head of AML & CFT Division Office with specific Responsibility and Authority. The Central Compliance Committee (CCC) headed by CAMLCO and consist of 12 members from different important divisions sit together in a meeting in every quarter to assess the AML & CFT activities of the Bank. The Committee advise AML & CFT division (secretariat of CCC) to take necessary steps to strengthen AML & CFT program of the bank. AML & CFT division implement the decisions taken in CCC meeting through Branch Anti-Money Laundering Compliance Officer (BAMLCO) in each and every Branch and DAMLCO from different important divisions. Throughout the year 2019, the following activities have been performed by the bank:

� AML & CFT Division under guidance of CAMLCO and directives of Central Compliance Committee (CCC) has revised the existing AML/CFT guidelines of the Bank named “PBL Money Laundering & Terrorist Financing Risk Management Guidelines” March 2019 on 05.05.2019.


� AML & CFT Division with assistance of IT I&P Division has developed an automated transaction and KYC monitoring system called “Prime Shield” which is in live since April, 2019 and using by all branches for generating exceptional report.

� Prime Bank has subscribed the Global Sanction Data from the world renowned company Dow Jones and with the approval of Senior Management. AML & CFT Division has incorporated the data with our existing PBL Automated Sanction Screening Solution.

� AML & CFT Division with assistance of IT I&P has developed a new “Customer Search” module in MIS with fuzzy logic, which will facilitate the Branch/HO officials to find out the related accounts with similar pronunciation in spite of spelling mismatch.

� As per instruction of CAMLCO Conference 2019 AML & CFT Division has arranged a special meeting with honorable Board of Directors and BFIU Officials on 27.06.2019.

� AML & CFT Division has arranged BAMLCO Conference 2019 on 23.11.2019 where all BAMLCOs from 146 Branches were attended.

� As per section 9.7 of “Money Laundering & Terrorist Financing Risk Management Guidelines” of BFIU Bank has published an advertisement on Daily Janakantha on 23.06.2019 for awareness of mass people on prevention of Money Laundering & Terrorist Financing.

� In 2019 AML & CFT Division has submitted total 169 STR/SAR to BFIU of Bangladesh Bank which were reported by our different Branches to AML & CFT Div.

� AML & CFT Division arranged training program totaling for 569 Executives/Officers in a day long training in 2019 jointly with HRTDC on Prevention of Money Laundering and Combating Terrorist Financing.

� For creating awareness among the branch officials and for the development of AML/CFT activities, AML & CFT Division including Deputy CAMLCO has conducted onsite visit on total 57 Branches in 2019.

� AML & CFT Division has conducted AML&CFT visit on Prime Exchange Co. Pte. Ltd. (Singapore) and PBL Exchange (UK) Ltd. In 2019.

� AML & CFT Division has conducted off-site monitoring on 146 Branches through automated software “Primeshield”.

� Bank’s officials have participated in many Training/Seminars in country and abroad on AML/CFT Risk & Compliance.

� Periodical Statement including CTR & STR/SAR has submitted to BFIU on regular basis.

� For ensuring and strengthening the AML/CFT Compliance in the Bank, the Honorable MD & CEO issued an Annual Message on 14.01.2019 addressing to all employees of the Bank.

� To comply the instructions of BFIU and Bank Management AML & CFT Divisions have circulated 10 circulars for all the employees of Bank throughout the year.

� Submit Reports to the Chief Executive Officer on half-yearly basis regarding AML/CFT Activities.

� Internal Audit Department has conducted AML Inspection on all of our Branches to find out lapses in AML/CFT issues. In addition Internal Audit Department has conducted special inspection on 15 Branches on AML & CFT issues as per instruction of BFIU Circular No. 19 dated 17.09.2017

� Reply 450 Information requests of BFIU, Bangladesh Bank within stipulated time and ensure utmost confidentiality to comply the instruction of BFIU.

� Follow up and monitor Audit reports (related to anti-money laundering) as and when received from the Bank’s Audit & Inspection Division and external auditors of the Bank.

� As a part of Global Standard Practice Bank has introduced Vessel Tracking System as tools for verifying shipment details of international trade operations centrally. In this regard data from Llyods Shipping Intelligence are being used.

� Special training program has been arranged to prevent Trade Based Money Laundering (TBML).

Risk Assessment GRI 205-1

AML & CFT Division has assessed different kind of risks that has to be mitigated properly. Some primary areas of risks involved are identified as follows:

� Suspicious transaction in the customer account - reporting of 169 Suspicious Transactions/Activity Report (STR/SAR) to BFIU in the Year-2019 in comparison with 105 reported in 2018;


� Identify the customer’s actual source of fund;

� Any new customer who was involved in ML or terrorist financing previously before being our customer through screening on boarding in the automated sanction screening solution.

� whether any person/entity maintaining any type of account or making any transaction who is involved in any incident related with ML , CFT or any fraudulent activity which has been published in the daily newspaper through periodical automated screening and manually.

� Verification of price of the underlying goods in international trade specially capital machinery & luxury goods;

� Information and identification of the suppliers/buyers/UBO in international trade;

� Tracking the transport/vessels to comply the local and international sanctioned port or entity;

� Phantom shipment in international trade;

� Counter party (customer) risk assessment by the bank in international trade;

To mitigate the risk associated with corruption related with ML and CFT, bank has taken some precautionary measures which are as follows:

� Identify the suspicious transaction and report STR/SAR by branch and Head Office through in-house developed transaction monitoring system.

� Updating the automated system in the CBS to collect and verify basic information of the customers.

� Monitor the transaction profile regularly or periodically to identify any customer involved in ML

� Before allowing any new customer to open account collect sufficient information and previous history of the person/entity and search the name against designated sanction lists.

� AML & CFT Division is following daily newspaper and search any incident happened and the person/entity involved in the incident maintain any account with the bank

� Verify the price of the goods from different local and international sources by trade officers before processing any international trade

� Collect the latest credit report of both supplier and buyer.

� Verify the previous trade behaviour of the importer and exporter and justify the current approach for getting trade services

� Vessel Tracking System as tools for verifying shipment details of international trade operations centrally. In this regard data from Llyods Shipping Intelligence are being used.

� Ensure the proper payment system and identify the actual end user/beneficiary of the international payment either trade or remittance through sanction screening.

Employee Screening

As per Chapter–9, Clause no # 9.2 of Money Laundering & Terrorist Financing Risk Management Guidelines of Bangladesh Bank, the Banks are advised to follow the following measures (at least one from below) to perform screening of applicants before appointment:

Referencecheck

Background check

Screening through or clearance fromLaw Enforcement Agency

Personalinterviewing

Personal guaranteeetc.

According to Clause # 14 (Employee Screening) of the Recruitment & Selection Policy, 2017 in compliance with Money Laundering & Terrorist Financing Risk Management Guidelines of Bangladesh Bank and Information Security Policy (ISP) of Prime Bank Limited, all selected candidates (fresh or lateral) for employment with Prime Bank shall go through the following verifications before issuance of Appointment Letter. The Bank will strive to comply with any three of the following background verifications either through internal resources or nominated 3rd Party Agency:

1. Previous employment check.

2. Academic and professional qualification verification.

3. Police Verification

4. Independent identity checks (Passport or NID).

5. Self declaration on Credit history.

Any discrepancies in the information provided by the candidate will cancel the letter of offer/appointment and may lead to termination.


As such, currently Human Resources Division of the Bank is conducting the following:

1. Background verification: Background and criminal history of the finally selected candidates are checked through Police verification.

2. NID verification: NID of finally selected candidates are verified from the web portal of Election Commission of Bangladesh Government.

3. Academic certificate verification: Academic certificates of the finally selected candidates are verified either through internal resources or nominated 3rd Party Agency. Please note that we have started the above verification from September 2017.

4. Corporate Memory Management System (CMMS): CMMS of Bangladesh Bank is used for checking disciplinary actions record of the entire job history of concerned candidates during recruitment.

Training GRI 205-2

Prime Bank has a yearly training calendar where employees can enroll through appropriate process based on the functional/job requirements and needs. General trainings are usually covered in this calendar. Nomination process and conduction/facilitation of training is coordinated by the Bank’s Human Resource Training & Development Center (HR–TDC). HR–TDC conducts subject-wise analysis for nominations. Priority is given to the entry level officers. For selected training/ workshops nominations are obtained from the Branches/Divisions/Departments/Cells according to their training needs and scope. But to find out the improvement areas and training needs of the employees is a regular phenomenon of HR–TDC. Foreign/abroad training for mid level & senior level officials is being arranged as per specific executive development need and guidance/decision of the Top Management. Other specialized/adhoc basis trainings are processed through seperate approval of Management covering both local and overseas trainings.

AML & CFT Division and HR–TDC regularly arrange jointly training programs on AML/CFT for the Officers who did not receive any AML/CFT training. Beside that AML Division has also arranged Refreshers Training for the employees of the Bank. In 2019 AML Division & HR–TDC jointly arranged total 12 AML Training where total 575 Executives/Officers received day long training on Prevention of Money Laundering and Combating Terrorist Financing. Besides this at the time of joining in the services of the Bank, employees are provided Foundation Training, where Money Laundering Prevention Law (with up to date amendment) is an integral part.

� AML & CFT Division had taken an annual program for 2019 to train up branch officials to update KYC information of all the customers.

� AML & CFT Division and HRTDC arranged jointly training programs on Trade Based Money Laundering for the Trade Officers.

� AML & CFT Division and HRTDC arranged jointly training programs on Independent Testing procedure on AML activities of the branches for the Internal Audit Officers.

� STR reporting number is increased due to enhanced awareness program and training conducted by AML & CFT Division throughout the year.

Fraud Management GRI 205-3

Fraud Management Policy is applied if the employees of Prime Bank Limited found involve with fraud or suspected for fraudulent activities including the relation to other financial institutions, contractors, consultants and other parties in financial or other relationships with the Prime Bank Limited.

Detected or suspected fraud is treated as misconduct under chapter IX of the Prime Bank Limited Employees Service Rules, 1995 (with up to date amendment). Following the gravity of the offence, the punishment is varied from case to case and necessary action is taken as per aforementioned chapter of the Bank’s Service Rules.

The Management of Prime Bank Limited takes a zero-tolerance approach to corruption or fraud-forgery and committed to act professionally, fairly and with integrity in all our relationships and business dealings wherever we operate for implementation and enforcement of effective system to counter corruption or fraud-forgery. The Bank has also ‘Employee Code of Ethics and Business Conduct’ and Prime Bank Limited Employees’ Service Rules, 1995 (with up to date amendment) which works as framework of ethical and business behavior for employees. These provide guidelines on various issues, like, safeguarding customers’ and Bank’s confidential information, preventing money laundering or any fraudulent activity, complying with laws and regulations, etc.

Bangladesh Bank has issued a Code of Conduct for Banks & Non-Bank Financial Institutions for implementing the National Integrity Strategy vide circulars BRPD Circular No.16 dated 06.11.2017 and DFIM Circular No. 04 dated 12.12.2017. Prime Bank also adopted the above mentioned “Code of Conduct for Banks and Non-Bank Financial Institutions”. All the employees of Prime Bank were instructed to follow and act as said in the Code of Conduct vide Instruction Circular (Instruction Circular No. 100) dated 31.12.2017. As per the above mentioned ‘Code of Ethics’ and ‘Code of Conduct’ Prime Bank takes its obligation as a financial service provider seriously to prevent fraud forgeries. Being a significant financial stakeholder, Prime Bank defined its responsibility to prevent the organization from being used as a conduit for fraud forgeries or other criminal activities.

Any contravention of the provisions of the above mentioned ‘Code of Ethics’ and ‘Code of Conduct’ shall be the subject matter of disciplinary action under Chapter–IX of Bank’s Employees’ Service Rules, 1995 (with up to date amendment). According to the Section


9.1.1 of the Bank’s Service Rule, regarding proper administrative sanctions, an employee who commits violation of any instructions, rules/regulations, laws/ bye-laws is against the interest of the Bank and contravenes the instructions issued to him/her corresponding to his/her Official work, shall be liable to be punished under Section 9.1.2 of Bank’s Service Rules.

Openness in communication for a better employee-management relation GRI 102-17

Employee communications and consultation are the lifeblood of any business. Proper exchange of information and instructions helps the Bank to function more efficiently and provide the opportunity to build greater trust among employees and management in discussing issues of mutual interest. To ensure effective employee communications, management takes a positive lead.

The Management has introduced a Whistleblower Protection Policy which intendeds to encourage and enable employees and others to raise serious concerns internally so that the Management can address and correct inappropriate conduct and actions. Employees have an avenue to report concerns about violations of code of ethics or suspected violations of law or regulations. The policy covers the protection of a whistleblower in two important areas- confidentiality and against retaliation. An employee who retaliates against someone who has reported a violation in good faith is subject to discipline up to and including termination of employment.

Additionally, now there is an avenue to report sexual harassment in the workplace. The policy aims to ensure a working environment in line with our values, where all individuals are treated equally, fairly and with dignity and also foster compliance with governing laws pertaining to sexual harassment. Such policy creates awareness about the nature of offences and the consequences of an offender. This is not only fosters a neutral environment but also gives a feeling of assurance that any wrong doing will be strictly addressed by the Management.

Any operational changes are properly planned and managed. Management follows a participative approach during any major transformation followed by prior communication to the employees. Since there is no trade union or employee association, no notice period regarding operational change is stipulated by any collective agreement.

HRD Hotline:

A group of officials from HR Division has been formed to handle such situations on a rotation basis and they will be named as Emergency Relationship Officer.

Emergency Relationship Officer, upon receiving any emergency call from any employee at dedicated Hotline Number 01787 670930, would try to solve by their own on an immediate basis keeping Head of HR informed or, they will inform the Head of HR to onward escalate the issue to the top management of the Bank. The Hotline will remain open 24/7.

Whistleblower Protection Policy, 2015 GRI 102-17

Reporting Responsibility

This Whistleblower Protection Policy is intended to encourage and enable employees and others to raise serious concerns internally so that the Prime Bank Group can address and correct inappropriate conduct and actions. It is the responsibility of all Board members, officers, employees and volunteers to report concerns about violations of Prime Bank Group’s code of ethics or suspected violations of law or regulations that govern the Prime Bank Group’s operations.

Compensation & Benefits GRI 202-1; GRI 401-2; GRI 405-2

To maintain the market competitiveness, the compensation and benefits of Prime Bank are regularly reviewed through market and peer group study. The well-crafted total rewards help the Bank to attract, motivate and retain talent.

In Prime Bank, the Board of Directors is not eligible for any compensation. They are paid honorarium for attending meetings only. On the other hand, all employees are paid competitive remuneration package. The remuneration policy of the Bank does not allow any discrimination between male and female employees, rather ensures equal pay for equal work. In addition, employees are paid bonus based on yearly business performance.

In addition to monthly competitive base pay and a good number of allowances (e.g., House Rent allowance, Medical allowance, Conveyance allowance etc.), Prime Bank has variety of market-competitive Benefits schemes designed to motivate the employees. The various cash and non-cash benefits include:

� Company provided car for top level Executive employees

� Car allowance for all Executive level employees

� Leave fair assistance allowance

� Medical treatment allowance

� Maternity benefits


� Car loan facility

� House loan facility

� Staff loan at reduced interest rate

� House furnishing allowance

� Mobile phone allowance

� Travel allowance

� Technical allowance

� Festival bonus

� Allowance for employees’ meritorious students

� Annual leave

� Maternity leave

� Study leave etc.

The Bank also provides long-term as well as retirement benefits to employees:

� Leave encashment

� Provident fund

� Gratuity benefit

� Retirement benefit

� Partial and full disability benefit

� Death benefit to family members etc.

Broadbanding Pay Structure Policy

The Management introduced Broadbanding Pay Structure which aims to ensure a performance driven work culture through a strategic compensation plan synced with the performance of individual employee. Since inception, Prime Bank has practiced a scale based pay structure for each grade, so to reward individual performance the new policy offers a flexible pay plan that will compensate the person, not the grade. It places an increased emphasis on encouraging employees to develop new skills and paying for the skills according to their contribution and equity. In a nutshell, broadbanding is a more flexible pay system for both the employees and for the employers where career progression takes a different route. Given that, the specific reasons behind introduction of this new pay structure is:

1. It facilitates/encourages internal /lateral movement (Through Job Rotation)

2. It rewards performers than the non performers (Through Pay for Performance)

3. It puts added trust & greater autonomy in line management (Through Teamwork/ Relationship)

Moreover, the policy states that when one employee reaches the highest grade within a Band, the employee will grow further when he/she is ready to take or has taken higher responsibilities and match the criteria of the next Band.

The total compensation and benefits system of Prime Bank tracks costs and is linked with performance, while maintaining a balance with the business affordability.

Payment of Facility Staffs

Unarmed security guard, messenger, cleaner etc. as facility staffs of the Bank are supplied by outsourcing companies or third party vendors. Whatever the case is, such sorts of workers are not the employees of the Bank rather they are the employees of the respective outsourcing companies or third party vendors. Wage issues of such employees are governed by the contract between Prime Bank and respective outsourcing companies or third party vendors, not by any codified laws of the land as there is no enacted law or declared minimum wages for the employees working in a Banking Organization employed through outsourcing companies or third party vendors.

New recruitment by gender and age GRI 401-1

New recruitment by gender:

Gender No. of Emp. %Male 145 78.80%

Female 39 21.20%

Total 184 100%


New recruitment by age:

Age group No. of Emp. %Below 30 years 90 48.91%

30 to 50 years 92 50.00%


Grand Total 184 100%

Employee turnover by gender and age GRI 401-1

Employee turnover by gender and age

Employee turnover by gender:

Gender No. of Emp. %

Male 237 86.50%

Female 37 13.50%

Total 274 100%

Employee turnover by age:

Age group No. of Emp. %Below 30 years 24 8.76%

30 to 50 years 227 82.85%


Grand Total 274 100%

For the year 2019, the turnover rate is 8.65%.

Parental Leave GRI 401-3

Leave Entitled Leave Taken Return to OfficeStill Employed after

Return to OfficeRetention Rate

41 41 20 20 95.24%

** Rest 20 will join on 2020

Transfer – Joining Time GRI 402-1

Transfer is a condition of employment. During the course of employment each employee shall be posted to various posts at Branches & Head Office Divisions to gather better knowledge about the working of various functions of the Bank. It shall not be taken as punishment; rather it shall be taken as a challenge. Challenge because every new place of posting brings an employee closer with new environment and new people. Since Bank is a client based service organization, it is important for all Executive/Officer to be familiar with various nature of the job, place & clients.Every employee of Prime Bank is eligible to serve at any office of the Bank inside or outside Bangladesh.Joining time may be granted to an employee to join another station on transfer as mentioned below:-

� If the transfer is in the same station, the joining time shall be 01(one) day i.e. on the next working day.

� Journey up to 200km – 02 (two) days and every additional 100 km 01 (one) day more.

� Actual time taken for journey (as above) to enable him/her to join the new station shall be inclusive of holidays/ weekend in between.

Healthy and Safe Work Environment GRI 403-1, GRI 403-2, GRI 403-3, GRI 403-4, GRI 403-5, GRI 403-6, GRI 403-7, GRI 403-

8, GRI 403-9, GRI 403-10

In Prime Bank, the physical, mental and social well-being of the employees always get priority. Healthy, productive and motivated employees are the foundation of a successful organization. Prime Bank helps employees to assume responsibility for their own personal behaviour in health-related matters, and support health-promoting general conditions within the Company. We continuously focus on improving health and safety of employees that includes proper work place design and decoration of head office and branches, maintaining the cleanliness at work space, holding awareness session related to physical and psychosocial well-being, email communication on various health and safety related topics, sending alerts to employees on emergency situations, arranging fire drill sessions, financial support for medical care etc. Because of the nature of operations, Bank employees are not usually exposed to work-related injury, occupational diseases or fatality. Yet, the Bank remains cautious so as not to create any hazardous work condition.


Prime Bank complies with the directives of the Central Bank in regards to fire safety as well as follows its own fire safety mechanism. Apart from the existing Offices and Branches, Bank’s new Offices/Premises are also having built in fire satey mechanism. By adopting the sound policy of “Smoke-free Workplace”, both fire and health hazards are reduced in the Bank. A Fire & Safety Team under the Facility Management Division is in place to address fire & safety issues in the Bank. The Head of Fire & Safety Unit, Mr. Ashraf-Uz-Zaman khan along with his team is responsible for maintaining fire and safety issues in the Bank centrally. Apart from this, we have fire and safety representatives from other Divisions and Branches within the Bank to assist in safety related matters. Apart from this, all security guards have been provided with basic fire and safety trainings to strengthen the network and they are capable to handle fire and safety matters.

Basic intructions to handle fire & safety equipments are placed in the Offices of the Bank. At Branch level also all the branches have emergency exits. The core safety team ensures making aware the Branch level employees during their continuous regional visits. Apart from this, the safety representatives of other Divisions and Branches are also trained to aware all employees in this regard including Head Office Divisions.

Bank has its own inspection/monitoring mechanism in regards to fire & safety measures; any issue found in the process is immediately resolved by the appropriate internal function. The core safety team monitors the facilities and equipments at Head Office and Branch levels with the help of their representatives in other Divisions and Branches. Maintenance of equipments is ensured through continuous visit and monitoring of the core safety team and their representatives and records are maintained accordingly.

It is ensured that the new Offices of the Bank have been updated with automatic fire safety measures which includes the Disaster Recovery site at Uttara and Data Centre (IT I&P) 3rd Floor Adamjee Court Annex-2, Motijheel, Dhaka-1000, etc. Modern fire safety measures are also planned for the proposed Corporate Office of PBL (under construction) at Nikunja, Dhaka.

To conduct regular fire drills, Bank has members in the core Fire & Safety team. In addition, a massive fire drill for Head Office employees and Dhaka area branches are arranged regular basis which is conducted by Bangladesh Fire Service & Civil Defence. In last Fire Drill, almost all the employees participated.

Fire safety audit is maintained through the continuous monitoring and inspection conducted by the core fire and safety team of the Bank. The core Fire & Safety team as well as the representatives of other divisions and branches ensure awareness/training of first aid and fire fighting for Prime Bank staffs. In addition to this, another training has been planned for the representatives to be organized in the Bank’s Training & Development Center (HR–TDC).

Learning & Development GRI 404-1; GRI 404-2

In Prime Bank, Human Resources (HR) Division regularly undertakes effectively designed training programs targeting the right group of employees through proper training need assessment. Prime Bank believes that continuous efforts should be given so that employees acquire and develop the right set of skills required to face the challenge of ever changing market.

In Prime Bank, the employee development plan is based on proper training need assessment. In 2019, Bank’s internal HR Training and Development Centre arranged training on different topics and employees were sent to participate in various training programs/conferences in home and abroad.

Prime Bank has a yearly training calendar where employees can enroll through appropriate process based on the functional/ job requirements and needs. General trainings are usually covered in this calendar. Nomination process and conduction/facilitation of training is coordinated by the Bank’s Human Resource Training & Development Center (HR–TDC). HR–TDC conducts subject-wise analysis for nominations. Priority is given to the entry level officers. For selected training/ workshops nominations are obtained from the Branches/Divisions/Departments/Cells according to their training needs and scope. But to find out the improvement areas and training needs of the employees is a regular phenomenon of HR–TDC. Foreign/abroad training for mid level & senior level officials is being arranged as per specific executive development need and guidance/decision of the Top Management. Other specialized/adhoc basis trainings are processed through seperate approval of Management covering both local and overseas trainings.

The banking sector is complex and diverse with evolving nature of threats and the risks. So, the training module is updated time to time for employees of the Bank in the changing context of financial market.

Training Category

(i) Soft Skill training(s) imparted to enhance the quality of the bank employees and includes:

� Organizational behavior, work environment & job performance;� Communication skill;� Customer relationship management in bank;� Service quality & service encounter;� Ethics & integrity;


(ii) Functional training includes the following:

Sl. Topic Sl. Topic

1 Credit Risk Management 36 Improving Risk Management in Branch and Regional Banking

2 Branch Banking Operation- Process & Control Points 37 SD-WAN Platform Information Security Program

3 T24 (R16) Operation 38 Effective Negotiation Skills

4 Internal Credit Risk Rating (ICRR) System in Banks 39 Calculating Marketing ROI

5 Managing Non-performing Loans: Case-based Analysis 40 TOT on CIB Business Rules and Collateral Database

6 Asset-Liability Management in Banks 41 Cluster Financing for MSME

7 Prevention of Fraud of MICR Cheque Book and Fake Note 42 Working Capital Financing: Case Based Analysis

8 International Trade Payment, Finance and Risk Mitigation 43 Management of Non-performing Loans: Case Based

Analysis

9 Banking Laws and Regulations (NIACT/Bank Company Act/ Artho Rin Adalot) 44 ADB TDM Seminar 2019 - AML/CFT and Prevention of

Trade Based Money Laundering

10 Integrated Supervision System (ISS) 45 Internal Control and Compliance in Banks

11 Foreign Exchange Transaction Reporting 46 Mergers and Acquisitions: A possibility in Bangladesh

12Software Operation of 200 Crore Taka Refinance Scheme for Tk. 10 Account Holders

47 Foreign Exchange Transaction Reporting System

13 Risk Management in Banks (online & on-campus combination) 48 Financing New Frontiers

14 Working Capital Finance 49 South Asia Correspondent Banking Workshop

15 Understanding Venture Investments for the Bangladesh Market 50 Supply Chain Finance in Bangladesh

16 International Trade Finance 51 CIB Business Rules & Collateral Database

17 Trade Services Operations of Banks 52 Business Process Reengineering

18 Product Knowledge 53 Management of Non-Performing & Loans Recovery Strategy

19 Review Workshop on “Trade Services Operations of Banks” 54 Credit Documentation- Identification, Standards and

Legal Issues

20 MSME Banking Solution 55 Financial Analysis for Banks

21 Core Banking Software (T24 R16) on Credit Module 56 Credit Appraisal & Management

22 Credit Appraisal & Risk Management 57 e-Doc Version 2

23 Islamic Banking Principle, Product Knowledge and Financing 58 Business Workshop & Management Meeting

24 National Savings Scheme Online Management System 59 Project Finance and Financial Modeling

25 ODDO BHF Export Finance Seminar 60 Financial Statement Analysis

26 Relationship Banking 61 How to switchover from Existing VAT to new Online VAT

27Integrated Marketing Communication & Implementation (IMCI): Realities in the Bottom of the Pyramid Market

62 Prime Intellect

28 ISS & SBS Reporting 63 National Shanchay Scheme Online Management System

29 Foreign Exchange Transaction Reporting (Part 01) 64 Detection Disposal of Forged and Mutilated Notes

30 Islamic Banking Operations 65 Project Finance and PPP

31 Enhancing Service Quality and Digital Marketing in Banks 66 International Trade Payment and Finance

32 Trade Finance and Best Practice in Demand Guarantees 67 Efficient Chargeback Processing Workshop

33 Insane Selling Skills 68 Legal Aspects of Securities & Documentation

34 Foreign Exchange Transaction Reporting (Part 02) 69 Banking Technology and IT Security Issues

35 Core Banking Software (T24 R16) on GB Module 70 Foreign Exchange Regulation & Guideline


71 National Sanchaypatra 78 Digital Transformation for Financial Institutions

72 Internal Credit Risk Rating System (ICRRs) 79 Risk Management in Banks

73 Documentary Credit in Courts 80 Banking Foundation Program

74 Proposed Academic Calendar 2020 81 Financing inclusive and Sustainable Development

75 Internal Audit Boot camp 82 Refresher Training for MT

76Agriculture Financing in light with Agriculture & Rural Credit Policy & Program of Bangladesh Bank

83 SWIFT Standards Training 2019 for Bangladesh Banking Community

77 Financing Agro-based Business 84 Electronic Dealing System for Interbank Money Market (EDS Money)

(iii) General training includes the following:

Sl. Topic Sl. Topic1 Foundation Training Course 20 Resolving Financial Disputes through ADR: the status of

Financial ADR in Bangladesh and the Asia Region2 Training Program on Sustainable Development Goal (SDGs) 21 Banking Laws & Regulations

3 Guidelines on ICT Security for Banks and NBFIs 22 Sustainable Development Goals (SDGs)

4 Financial Consumer Protection: Regulatory Perspective 23 Mashreq’s FI Conference

5 Information Security & Awareness 24 J.P. Morgan Asia Banking Forum - South Asia

6 Orientation Program 25 SWIFT Cyber Security and Payments Workshop

7 Green Banking-Environmental and Social Risk Management in Bank

26 Gender Equality & Wome Empowerment

8 Prevention of Money Laundering & Terrorist Financing 27 World Bank/IFC Performance Standard for ESRM

9 Prevention of Trade Based Money Laundering 28 Code of Conduct (Bangladesh Bank)

10 Internal Control and Compliance in Banks 29 Public-Interest Information Disclosure Act, 2011

11 Ethics & Integrity in Bank 30 The Rights to Information Act, 2009

12 AML & CFT Training 31 TOT on Important Guidelines of BB and ISS Reporting

13 Money & Banking Data Reporting (SBS-1,2,3) 32 Increasing Remittance Income and Investment

14 Emerging Threats in IT in Bangladesh Financial Sector & Control Measure

33 TOT on Trade Based Money Laundering

15 FDI and External Debt Reporting 34 Promoting Ethical Practices in Banks

16 Corporate Governance in Financial Sector 35 Money and Banking Data Reporting

17 Integrity and Anti-corruption in Financial Sector 36 Information Security & Awareness

18 Customer Service Enhancement 37 SDGs and Banking Industry in Bangladesh: Recent Development and Future Directions

19 Online Reporting of Foreign Exchange Transaction to Bangladesh Bank

38 BAMLCO Conference

(iv) Soft skill training includes the following:

Sl. Topic Sl. Topic

1 Self Discovery 12 Negotiation Excellence

2 Strategy - Conflict & Negotiation 13 Mastering The Art of Communication

3 Management (Time & Stress) 14 Self Leadership

4 TOT on Leadership 15 Sales and Customer Service

5 Business Communication 16 Effective Communication & Collection Negotiation Techniques

6 RM Specialized Course 17 Leadership Excellence

7 Emotional Intelligence Master class Bangladesh 18 Communication Secrets

8 Employable Skills 19 Effective Negotiation Skills

9 Customer Service Master class 20 Team Building

10 Customer Service Master class Pre 21 Leadership Skills

11 Enhancing Leadership Qualities in Banks


� Employee Category (Training Participant):

(a) Deputy Managing Director

(b) Senior Vice President

(c) Vice President

(d) Senior Assistant Vice President

(e) Assistant Vice President

(f) First Assistant Vice President

(g) Senior Executive Officer

(h) Executive Officer

(i) Senior Officer

(j) Management Trainee

(k) Officer

(l) Junior Officer

(m) Trainee Assistant

Prime Bank HR–TDC Accomplishments – 2019

Sl. Particulars Frequency Number of Participants Covered Training Hours

1 Training & Development Centre, Prime Bank Limited 125 7,419 780

2 Bangladesh Bank Training Academy / Bangladesh Institute of Bank Management 52 113 1,352

3 Other Training Institute 44 328 688

Total 221 7,860 2,820

The employee who received the necessary training is more able to perform in their job. The training gave the employee a greater understanding of their responsibilities within their role, and in turn build their confidence. This confidence enhanced their overall performance and this can only benefit the Bank. Employees who are competent and on top of changing industry standards helped the Bank hold a position as a leader and strong competitor within the industry.

A robust training and development program ensured that employees have a consistent experience and background knowledge. The consistency is particularly relevant for the Bank’s basic policies and procedures. Increased efficiencies in processes results in financial gain for the Organization. A development program brings all employees to a higher level so they all have similar skills and knowledge. Besides, employees who are feeling appreciated and challenged through training opportunities may feel more satisfaction toward their jobs.

Performance Management Program GRI 404-3

Prime Bank has a comprehensive performance management program that evaluates employees’ yearly performance against business targets at the year-end. In addition, their functional and leadership competencies are also rated by the line management. This appraisal process also identifies the competency gap and training needs of employees. All employees (except employees under probation or training) of the Bank undergo annual performance appraisal process. The process ensures that clear feedback on improvement points (performance and professional capabilities) is provided to employees by their Managers to promote employees’ long-term career development and improved contribution to organizational performance. All regular employees undergo the annual performance and career development review.

Promotion

Promotion is given to the deserving individuals based on the yearly performance apprasial as well as the promotion assessment criteria conducted by designated Committee assigned by the Management. The officials are evaluated by the Committee which is formed comprising of all DMDs and respective business Heads. All the members of the Committee are from the core banking area/operation of the Bank. The Committee is responsible for Performance Appraisal Rating, Promotion and implementation of the Pay Progression Strategy of the Bank.

Grievance Mechanism GRI 103-2

Prime Bank Limited is committed to create an enabling environment for the employee that is free from any sort of harassment, intimidation and prejudice. It is the responsibility of all employees to maintain a working atmosphere free from discrimination,


harassment, intimidation and unwelcome, offensive or inappropriate conduct, including sexual overtures, offensive jokes, graphic material etc. Verbal or physical conduct of a demeaning or sexual nature that creates an intimidating, hostile or offensive working environment, affects inter-employee relations or is otherwise deemed by Prime Bank to be offensive or inappropriate is not permitted. Sexual harassment includes any unwelcome sexual advances, requests for sexual favours, and other verbal or physical conduct of sexual nature.

The Bank promotes a congenial and professional relationship among the line managers and fellow colleagues. HR Procedure of the Bank ensures that all employees are able to work in the bank with self-respect, dignity and pride. The Bank also ensures that appropriate procedures are in place to allow employees to report any incidence of harassment in the Bank. All Complaints regarding harassment of the employees must be submitted to Harassment Complaint Committee that will conduct investigation and submit a report to Human Resources Division. In case a Complaint is found to be legitimate, Harassment Complaint Committee shall report to the Human Resources Division which will initiate Disciplinary Procedures against the accused employee as prescribed in the Prime Bank Employees Service Rules - 1995. No adverse action will be taken against any employee who, in good faith, makes a Complaint or cooperates in the investigation.

An upto date “Sexual Harassment Policy & Procedure” has already been approved by the Board of Directors of the Bank. The policy aims to ensure a working environment in line with our values, where all individuals are treated equally, fairly and with dignity and also foster compliance with governing laws pertaining to sexual harassment. Moreover, a Female Welfare & Grievance Handling Committee is in place to address complaints from female employees of the Bank. The Female Employees’ Welfare and Grievance Handling Committee handles the complaints related to gender-specific harassment as well as sexual harassment against women by their male counterparts.

Non-Discrimination

Decent Workplace GRI 406-1, GRI 408-1, GRI 409-1

Prime Bank has a decent work environment where employees can work with dignity, have the freedom to express opinions, can participate in the decision making process that affect their lives, and receive equal treatment and opportunity. The Bank is committed to ensure the best practices in compliance with the Labour Code of the country. Bank Management believes that the business can grow favourably if the organization enables employees through creating and maintaining a decent workplace.

In Prime Bank, employees have the right to exercise freedom of association or collective bargaining following the legal procedure of country laws. However, employees have never formed or wanted to form any collective bargaining agency. The Bank follows non-discriminatory approach in all HR policies and practices. The salary of an employee is determined based on his/her competency, experience and performance. During the period of 2019 neither any incident regarding discrimination nor any grievance related to labour practices or human right has been reported. The Bank neither employs child labour nor has any provision for forced labour. Employees have the right to resign from their employment serving proper notice period and following the internal procedures.

Ensuring a decent workplace also encompasses Bank’s investment decisions as well as agreements with the suppliers and contractors. For instance, human right, as appropriate, is covered as an integral part of decision making for major financial investments. Among all the significant investments, garments and manufacturing industry contain major stakes where issues related to human rights are more relevant and critical. Hence, any such investment agreement is subject to screening of human right issues along with other criteria.

On the other hand, all the agreements of Prime Bank with suppliers or contractors undergo due assessment process which requires complying with the Labour Code and other applicable laws of the country. Moreover, the procurement decisions are also subject to conformity with International Labour Conventions. The team involved in procurement visits suppliers and contractors’ premises on need basis to monitor working conditions and other relevant issues like labour practices, human right etc.

The security personnel employed by the Bank are formally trained and aware of policies and procedures regarding human right issues. The training requirement also applies to third party organizations that provide security personnel to the Bank.

The most recent addition to encourage female employees at the workplace is that they are now able to avail child day-care facility in Motijheel area. Female employees having offices in Motijheel and peripheral area now can avail child day-care facility where they can keep their children in a safe and secured environment. This will not only help to retain female employees but will relieve them from the dilemma of leaving their child/children at home.


Motivated and engaged employees

Prime Bank has a diverse group of motivated and engaged employees. From experience it knows that if employees are properly empowered, they become more engaged and go extra miles to fulfil organization’s ambition. Engaged employees are likely to take more responsibility and embrace accountability which helps to achieve the sustainability strategies. The Bank has positioned itself with a performance-driven rewarding work culture; where employees are treated with respect and receive plenty of development opportunities. Prime Bank has a special focus on:

Ensuring a balanceddiversity

Promoting a performancecentric culture

Ensuring workplacehealth and safety

Protecting humanrights

Promoting humancapital development

Providing competitivecompensation and benefits

Ensuring equalopportunity

All the people related issues in Prime Bank are governed by the well-defined policies and procedures which are duly reviewed by the Management time to time.

Work-life Balance

Prime Bank wants its employees to balance the work and personal life and has organization-wide practices and policies that actively support employees to achieve success at both work and home. Management is also open and shows flexibility in regard to a balanced work-life.

In Prime Bank, employees are entitled to sufficient annual leave and sick leave with pay. To enjoy vacation with family, Bank provides Leave Fare Assistance Allowance to employees. All female employees are eligible for Maternity Leave (Parental Leave) with pay for a period of six months. In 201, a total of 60 female employees availed Maternity leave. After completion of the leave, they returned to work and are still continuing with the organization.

Culture

Culture plays a vital role to create a high performance environment that supports sustainability strategy implementation. Prime Bank carefully develop, shape and impact organizational culture by: practicing values appropriate for the bank; defining working relationship and communication pattern between superior and subordinates; governing rules and regulations which control employees’ behaviour; promoting a strong employer brand through which employees identify with the organization; maintaining effective reward system that affects employees loyalty and empowering employees to demonstrate their innovativeness not only to be competitive in the market but also to achieve a sustainable growth.

COMMUNITYOUTREACH

About Prime Bank FoundationPrime Bank Cricket Club


COMMUNITYOUTREACH

About Prime Bank FoundationPrime Bank Cricket Club


About Prime Bank FoundationPrime Bank Limited, through its humanitarian institution Prime Bank Foundation (PBF), has been playing as pivotal entity in the field of sustainable development of the education and health sector in the society. We think that together we may institute that social change is truly the impact of Corporate Social Responsibility (CSR) because PBF addresses unique social issues. Our aim is not only to increase employment but also to contribute to the health and education sector of the country. It is our belief that all our CSR work is imperative when it has impact on other lives as our CSR is designed to make social impact. We are confident that these efforts are resulting in an enhanced quality of life for the people we are targeting.

PBF thrives to focus on the projects which leaves a positive impression in the society, and at the same time can stand on its own feet after certain duration which we refer as a Sustainable project. Therefore, helping the society rather than mere charity is the core objective of PBF projects. The projects of PBF aim not only to make health and education more accessible to the target population but also to contribute to the national development through its initiatives.

The growth of a country depends largely on the well-being of its population as well as a strong educational backbone with good health, and that is exactly what PBF strives to accomplish. PBF hopes to expand its sphere of influence through its initiatives and provide more opportunities of better health and education in order to ensure equal opportunities for the less privileged people of our society.

PBF functions in a very well-planned manner which focuses on making each project (except Education Support Programme) sustainable; although the foundation is a non-profit entity, it plans to cross-subsidise the Education Support Programme which is not designed to sustain itself with income generation, as it is a scholarship programme. Once the health and other education initiatives/projects can sustain their individual functions, they will provide the financial support necessary to continue the stipend under the Education Support Programme. Thereby, making all projects sustainable.

Education Support Programme (ESP)

A huge number of financially challenged but meritorious students live in our country. After a series of struggling, a few number of them get scope to have a chance for graduation from a reputed institute. But, managing money to bear their essential needs become a burden to them, which is often crippling. The PBF makes them their target students for providing financial support throughout their graduation level study, because every worthy deserves a chance for a better standard of living. PBF realized early on since its inception that education, in every sense, is one of the fundamental factors behind sustainable development of a nation. It is a tool which not only enriches people’s understanding of themselves and the world but also improves the quality of their lives, and leads to broad social benefits of individuals and the society. Education raises people’s productivity and creativity and promotes entrepreneurship and technological advances. It also plays a pivotal role in a country’s economic goal to alleviate poverty and ensure growth which is instrumental to sustainable development.

Prime Bank Foundation initiated the Education Support Programme (ESP) in 2007 with 170 awardees. It is a long term on the path of providing renewable scholarship programme for underprivileged but meritorious students from across the country. The main objective of the ESP is to remove access barriers in higher education which many economically challenged yet deserving students face, to achieve their desired level of education. Eligible students receive monthly stipends that allow them to pursue under-graduation, graduation and post-graduation level studies without being tied down by financial limitations. In order to ensure that the most deserving students are awarded with the scholarships, PBF has a three member Advisory Committee, consisting of distinguished educationalists, which is commissioned to develop neutral selection criteria which is instrumental in recognising the most deserving candidates.

As per Bangladesh Bank’s CSR guideline (GBCSRD circular No-7) the scholarship/stipend under education is a priority, and around 30% of the total CSR expenditure should be spent in the education sector, including scholarships/stipends for underprivileged but meritorious students of the country. Therefore, it is safe to say that the ESP is in line with the Bangladesh Bank guideline.


Today, after 13 rewarding years, we are proud to say that ESP has influenced the lives of a total of 3,722 students from 194 renowned institutions of the country. Among these 3,722 students, most have either completed or are still continuing their undergrad, graduation level studies in the country’s public sector universities, medical colleges/engineering/agriculture universities, national universities, madrasah, etc. in a wide range of subjects covering the sciences, humanities and commerce. The ESP follows strict guidelines where gender equality is concerned because PBF firmly believes that empowerment of women through education will ensure sustainable development and growth of a productive generation. The female to male ratio of 30:70 is strictly maintained to ensure that a sufficient number of both genders receive scholarships.

Students from all 64 districts of the country are the recipients of the PBF scholarship. It is therefore safe to say that PBF has made a country-wide impact through its commendable initiative and is helping students build a strong foundation for their families’ and the country’s future. With the help of the PBF stipend the first 8 batches of ESP (2007, 2008, 2009, 2010, 2011, 2012, 2013 & 2014) successfully completed their studies. Around 1134 awardees are now in job such as Doctors/Engineers/Class-1 officers/Civil Service & Custom officers/University & College Teachers/Bankers, Business man etc.

Many awardees were from destitute families for whom two square meals a day was an ordeal and surviving from one day to the next was a question they raised every day. The ESP stipend helped students from such families to pursue their higher studies which enabled them to stand firmly on their feet. Many of these students are now supporting their families and also making a mark in their fields of expertise. The indirect impact of ESP can be seen not only through the academic achievements of the awardees but also through the improved lifestyles, recognition and overall social and economic conditions that has graced the ex-recipients and their indirect beneficiaries.

All these established young people proudly proclaim the central role of the ESP in supporting their higher studies. Not only have they had the support to complete their education, they have also been able to embark on a life-changing journey. Their thriving personal careers have played a vital role in the development of their family, society & nation as well.

This achievement of ESP is parallel to PBF’s determination to contribute to the sustainable development through a long-term scholarship programme rather than a one-time lump sum amount as a donation. Through regular monitoring mechanisms, the ESP ensures that only the most dedicated students are selected and they are given the support necessary for them to complete their education in institutes which was a distant dream for them. The awardees, through the stipends, are given a unique opportunity to equip themselves for a better life where they will be able to visualize better days, while shape a better future and a better nation.

Prime Bank English Medium School

Today, the ambitions of Corporate Social Responsibilities extends well beyond basic philanthropic contributions. Benevolent providers not only focuses on providing the needs of the needy, but also aspires to make the receivers visionary, to enable them to be philanthropists themselves in the future. With that in mind, since the inception of Prime Bank English Medium School (PBEMS) in 2008, the institution have been addressing the desire of the common people for an affordable quality education that promotes sustainable development which is accessible to all. The school is operating with a profound vision from the beginning, which remains unbent to this very present. Facilitating the young learners to acquire the knowledge, skills, attitudes and values necessary to shape a sustainable future, is one of the aims of PBEMS. Therefore, the students are highly cognisant of their surroundings, the current crucial issues of global warming, biodiversity, globalization, health and wellbeing. Using sustainable development as a context for learning not only empowers learners to contribute to this process of change within the society, but also helps them to develop the skills required to access exciting career opportunities.

PBEMS’s door is always open for the hard-up and physically challenged children alike. The teaching method at PBEMS have been value-centred, which gives priority to the nature and the developmental stages of children. Children are seen as naturally eager to learn, yet in danger of losing this quality if unduly pressured. PBEMS obtained the approval of Cambridge International Education assessment, Directorate of Primary Education and Dhaka Board. The school has also been offering National Curriculum, English Version from January 2016. The demand for English Version has increased as well as the number of students. PBEMS obtained Cambridge Approval in Nov 2018 and is now a Cambridge International School. PBEMS also got registered under Primary Education and Dhaka Board in 2018.


Centred on international education standards, predominantly the Cambridge curriculum, PBEMS promotes the holistic development of its students, preparing them for lifelong learning, which guides them to succeed in today’s highly competitive global environment. PBEMS aims to help each child to fully develop his/her social, intellectual, and moral capabilities, thereby, helping them to become productive citizens. One can look into the depths of society and discover that people who make modest contributions through their time and money tends to make a big positive transformation in their respective society. We believe that the well-educated students of today carrying high moral values have the potential to be future philanthropists. Among many reasons, in order to be capable to deliver such excellence in the future, each child needs to be well-adapt with the cultures and communication nitty-gritties of both local and international context. English has become the main language of communication in business and higher education throughout the world. With that in mind, it is high time to cultivate the language amongst the young generation with the aim of preparing them for the competitive global market. That is one of the main reasons behind supporting an English medium school as PBF’s CSR project.

PBEMS adheres to the cultivation and fostering of a well-behaved, educated and civilised people which would hopefully, in the future, mitigate the problem of unemployment and severe poverty in the country. PBEMS’s key claim to offering quality education is through the adoption of progressive education practices. Instead of using the traditional method of teaching, PBEMS uses the interactive, child-centred teaching method based on up-to-date educational theory and practice. At PBEMS, students are perceived as mentally inquisitive human beings. The teachers’ role is to engage the students intellectually, bringing about a fruitful interplay between the students’ prior knowledge and the new information being taught.

A few unique features which set PBEMS apart are mentioned below:

� Not-for-profit school with reduced admission/tuition fees for the deprived

� Caters to families belonging to every strata of the society and does not differentiate between them

� Expatriate educator as principal

� Holistic approach to learning by encouraging creativity, empathy, curiosity and enthusiasm

� Emphasis on classroom learning and class interaction instead of home tutoring and coaching

� Class-based learning which mitigates the need for private tuition

� Digitalized facilities for greater comprehension of contents

� Access to Co-Curricular activities such as art competitions, science fairs, athletics, study tours, and observance of national and international celebrations are prioritised

� Professional development for teachers in curriculum and teaching and learning

� Values Education and impartation of social concern and community service

� Philanthropic pragmatic teachings done on core level to instil generosity within students

� No class-wise positioning to prevent negative sense of competitions or inferiority

PBEMS has been growing day by day and it has undertaken several initiatives to meet new demands of the time. A second branch was opened in 2012 in Mirpur to spread its coverage. At the end of December 2019, the total number of students in the two branches of PBEMS was 519 including both British and National Curriculum.

PBEMS aims to cultivate social and cultural awareness among the students by celebrating our rich history and culturally significant days. It is a priority of the school to instil knowledge about our country, mother language and society, despite being an English medium school. Music and sports are given equal priority along with the other subjects to ensure that our students receive a wholesome education.

PBEMS is steadily moving towards shaping a generation which is proficient not only in their mother tongue, but also in a second language, English. These young citizens will be professionals in the near future who are culturally rich and socially responsible. One of Prime Bank Foundation’s core strategic goals has always been to make education accessible to the target population and PBEMS is successfully doing exactly that. Investing in the future of the next generation is perhaps the best initiative imaginable to ensure sustainable development of the country and PBF will continue marching forward to do just that. And by relocating to more spacious campuses in 2019, PBEMS is enabling the upcoming batches of potential students’ greater chance of receiving our quality and unique educational offerings.


Prime College of Nursing, Dhaka

The training of nurses is crucial for the physical wellbeing of a country’s citizens in order to ensure sustainable development of the health sector; the role of these care-takers who ensure that the sick and unwell recover and regain optimal health cannot be ignored. In 2016, there was a demand for 10,000 new nurses in Bangladesh; however, about 5,000 new nurses were produced. This simple statistics emphasises the need for institutes to prepare qualified nurses to meet their growing demand within the country. Prime College of Nursing, Dhaka (PCND) which used to be named as Prime Bank College of Nursing (PBCN) initially was designed to address two issues simultaneously: providing educational (and eventually employment) opportunities for those who could not pursue medical training due to costs restraints, and to make a contribution to healthcare in Bangladesh by producing highly skilled and capable nurses.

The health sector in Bangladesh is severely restrained by the lack of availability of qualified health workers, making access to healthcare out of reach for the vast majority of the people. Proper healthcare is a core element for national development and the country can steadily develop on all fronts only when the core elements (in this case healthcare) is available to all. Considering the immense demand for nurses, this project was adopted because it was anticipated to be a financially sustainable project. With that in mind, PBF embarked on a new journey with its nursing education institute in January 2013 in partnership with Cebu Normal University of the Philippines for technical assistance.

This high-quality Nursing Education Institution offers 3 yearlong Diploma in Nursing Science & Midwifery Course which is approved by the Ministry of Health & Family Welfare (MoH&FW) and affiliated by Bangladesh Nursing & Midwifery Council (BNMC). As a result of its quality education, the Ministry of Health and Family Welfare, Government of Bangladesh has approved the plan to upgrade this institute into Prime College of Nursing, Dhaka and offer 2 B.Sc. in Nursing (4 years basic and 2 years Post-Basic) courses. Meanwhile, the University of Dhaka has given its affiliation needed for PCND to offer 2 B.Sc. in Nursing courses from 2018. Accordingly, in July 2018, Post Basic B. Sc. in Nursing course has been started. A total of 30 B. Sc. in Nursing students have already been admitted in PCND under the govt. unified exam system by Directorate General of Nursing & Midwifery (DGNM) in the session: 2018-19. Their class will be started from 20th January 2019. Plans for introducing M.Sc. in Nursing as well as short Nursing Certificate courses for different professionals are also being contemplated.

PCND’s overall objective is to assist Bangladesh in providing skilled nurses who will contribute to the national development, and meet the increasingly high demand of qualified nurses in different healthcare service sectors throughout the country and beyond. To provide better facilities, PCND started its journey in its 10 (ten) stored building at K-36/3 Post Office Road Khilkhet, Dhaka-1229. In this building, the college and hostel is now under a common roof and also provides ample space to accommodate more students & facilities.

PCND has adequate classrooms with multimedia projectors and modern lab facilities for the students to ensure high standard of nursing education. In the Midwifery Lab midwifery models and equipment are available to meet the requirements of lab practice like dummy of foetus, gestation series, dummy of female reproductive organs and many other necessary posters e.g. pictographs, over all midwifery concept, delivery and labour position, breast feeding etc. Besides this, there are other labs which are similarly equipped such as the Micro-biology, Simulation, Anatomy and Physiology and Nutrition labs. The PCND library has a rich collection of nursing and other related books which provide students with ample reading materials for their courses.

In order to meet the national and international demands for qualified nurses, PCND has included a modern computer lab to inculcate IT knowledge among the future nurses since computer knowledge has become a pre-requisite for a well-trained nurse. English language is also a crucial quality that a well-trained nurse should have, therefore, extra emphasis is given on English to help the students have a clear understanding of the coursework and to keep pace with the global market. A full time English faculty also provides extra guidance to the students throughout the year.

PCND has a panel of highly experienced & well-trained teachers who teach different subjects and provide clinical guidance to the students in the hospitals, identify students’ needs and problems and provide guidance and counselling accordingly.

PCND students are the only ones to receive permission for clinical practice throughout the year in Kurmitola General Hospital (KGH), providing an excellent platform for our students to gain practical knowledge and skills, thereby helping them to develop practical nursing skills to provide safe and competent nursing care to patients. The duties of a nurse are learnt primarily through practical experience; therefore, knowledge and clinical practice can only be integrated when the students explore real situations. Students get adequate hands-on practice skill in midwifery from Dhaka Medical College Hospital on the management of normal pregnancy & childbirth and identify complicated pregnancies and childbirths and care of the new-borns. Additionally, to fulfil the curricular requirements, students do their clinical practice at Dhaka Shishu Hospital, National Institute of Mental Health Hospital, National Institute of Traumatology and Orthopaedic Rehabilitation Hospital, Prabin Hospital and Radda MCH-FP Centre.


It is with great pride that Prime College of Nursing, Dhaka bade farewell to its fifth batch of Diploma in Nursing Science & Midwifery Students this year. Having completed five successful academic years from 2015 to 2019, a total of 186 PCND students graduated at the end of this year. To inspire students, PCND has a provision of offering an award for best performance known as the “Florence Nightingale’s Award” for the student who showed best academic and clinical performance during the course. All of the fresh graduates are already employed in reputed specialised public and private hospitals, thereby strengthening our belief that PCND is not only addressing the need for adept nurses, but also re-enforcing the healthcare sector with strong young health workers who have found a mission in their lives which will help make this specific sector sustainable through their diligence and perseverance.

As a result, PCND met its breakeven year as a self-sustainable project of PBF by surplus income about Tk.0.11 crore at the end of the year 2019. It is expected that this sustainability of PCND will be strengthened gradually yearly. Accordingly, by 2024 PCND will be able to pay back it’s a total of invested/expended amount Tk. 5.86 core since the inception 2013 to 2017 as per PCND’s long term projection. So, the year 2019 is the milestone of PCND for its remarkable achievements.

The mission which PCND embraced is to provide quality nurses who are equipped to perform their level best in the national and international arena-is gradually being realised. It is needless to say that the facilities which PCND provides its students help lay the foundation for well-prepared nurses who can contribute to the national development and meet the demands of the time. Our journey has just begun, but we hope to gift the nation with many bright young nurses in the years to come.

Prime Bank Eye Hospital

Ophthalmic health is a big concern in Bangladesh. In our country, 7,50,000 people among 30+ aged population are blind. It’s really very much distasteful to contemplate that 80% of them are due to cataract which is reversible. Approximately, 1,20,000 cataract patients are added in every year. On the other hand, over 6 (six) million people in Bangladesh need vision correction by spectacles and other means. Approximately 1,50,000 irreversible blind require rehabilitation. An estimated 12,000 out of 40,000 (approximately) visually impaired women and children in Bangladesh have cataract. About 80% of the visually impaired persons live in rural areas where eye care facilities are, in a sense, very poor, as 90% of the doctors and paramedics are urban-based. Our government is working hard to achieve the goals set under Vision 2020. The National Institute of Ophthalmology and hospital is coordinating the overall activities at the national level. For providing necessary support, all medical college hospitals and districts level general hospitals are taking necessary measures by opening a separate eye care units. Prime Bank through its Prime Bank Eye Hospital (PBEH) has also been providing a pivotal role to address the avoidable blindness in the country and supporting the government in the development of eye care sector since inception. The PBEH seeks to make good quality eye care accessible to all regardless of their financial condition. PBEH endorses the concept of sustainable development through the very services that it provides and this is portrayed by the core principle of PBEH which is to cater to the eye-care needs of the rich and poor alike, yet be financially self-supporting. In doing so, PBEH is not only contributing to the wellbeing of its beneficiaries, but to the health of the entire country to the best of its abilities.

PBEH operates with a mission to render highly affordable but quality eye care to as many people as possible. This means serving the patients from all backgrounds, but more importantly, giving the same quality service to those who need it but can barely afford healthcare. Since it opened its doors for patients in 2012, PBEH has served over 1,24,320 patients up to December 31, 2019, majority of

Sumon Kumar Biswas Sr. Staff Nurse, Imperial Hospital Ltd, Chattogram; (PCND Diploma Graduate: 3rd batch/Session 2014-15)


whom are from the low-income segment of the population. During this period, 11,767 patients underwent surgeries where 7,839 (67%) of whom came from PBEH outreach programmes which are carried out in remote and hard to reach areas throughout Bangladesh. These statistics prove that PBEH is well on its path towards sustainable development, it is gradually becoming self-sustaining while contributing to the well-being of a significant segment of the deprived strata of the society.

PBEH, in the year-2019, examined 20,552 patients through walk-in medication. PBEH is pursuing its objective to provide accessible eye-care services to all and play a role in the overall national healthcare development through its initiatives. To spread quality eye care services among the masses, PBEH carried out 134 different outreach eye camps in the year 2019. In the camps, 16,361 patients were examined and advised for further treatment from PBEH or elsewhere if required.

People who suffer from diabetes are prone to eye diseases. Among them, Diabetic Retinopathy is highly prevalent. Keeping this in mind, PBEH introduced “Park Based Diabetic Screening Camp (PBDCSC)” in the year 2015. In the reporting year (2019), PBEH carried out 31 PBDCSC in the nearby parks of PBEH. Under this programme the blood sugar, pressure & weight were checked of those who came to the park very early in the morning for exercise/jogging. Among the tested people about 50% of them had high blood sugar (≥7.0 mmol/ltr, fasting). Those people were advised for an immediate eye check-up to confirm whether they are suffering from “Diabetic Retinopathy” or any other eye diseases.

These statistics are a clear indication that the outreach programmes are effective means of supplementing the coverage of the base hospital. PBEH ensures that the quality services available in its premises are not only limited to those who can come to the hospital, but also available to those who do not have the means or access to reach the hospital. With this objective in mind, PBEH has not only carried out outreach camps on its own initiative, but has also entered into agreements with several organisations, and initiated the first Vision Centre in the country.

PBEH continued its telemedicine support in Narayanhat, Bhujpur, Fatikchari, Chattagram, through its ‘Vision Centre’ to expand and supplement the hospital’s coverage. Vision Centres are small, permanent facilities set up to extend eye care service delivery to remote and rural communities, with the objective of increasing the uptake of comprehensive primary eye care. Through innovative internet-based information technology (IT), Vision Centre provides easy and affordable online access to ophthalmologists stationed at the base hospital (PBEH). The Vision Centre is staffed with Ophthalmic Assistant/Optometrist, Vision Centre Coordinator and a Community Worker. It is equipped with a Slit Lamp, Auto-Refractometer and some other relevant eye equipment necessary for examining common eye diseases. Telemedicine service is provided by PBEH consultants/ophthalmologists to patients using internet connectivity. Through this venture, Prime Bank Eye Hospital hopes to deliver eye care to remote areas where eye care is not readily available.

Services at the Vision Centre include full eye exams, refraction and other screening, dispensing of medications and eyeglasses when necessary, care for simple ocular emergencies, referral for cataract surgery, testing for diabetes, diabetic retinopathy diagnosis, referral for treatment, and follow-up for patients and rehabilitation for the incurably blind and those with Low Vision.

It is hoped that the Vision Centre will provide timely access to diagnostic care and special eye care advice at grass root level and reduce the backlog of blindness in underserved areas, which is also one of the major aims of PBEH. All the activities undertaken in PBEH directly contribute towards sustainable development because eye care is directly linked with the overall wellbeing of a person and ensures a healthy and sustainable livelihood. Without a reliable livelihood a person, a section of the society is deprived of a decent living and a society is deprived of valuable contributions.

While catering to the needs of the society by providing affordable eye care services, PBEH is also becoming economically self-sustaining. PBEH, since its inception in 2012, especially in the course of the last


three years, has made significant progresses in achieving financial sustainability, an ultimate goal of any initiative of Prime Bank Foundation. Therefore as stated earlier, PBF undertakes long term supply side financing projects not only as they are good initiatives, but also because they are programmatically and financially sustainable.

Prime Bank Cricket Club

Along with the health and education sectors, Prime Bank Foundation believes that the presence and practice of physical activities is an integral part of sustainable national development. Not only is it a source of entertainment but it is also connected with the mental and physical health, and also contributes to the character development of the nation. Among a wide variety of sports, Prime Bank has chosen to focus on cricket because of its popularity and potentials to enable Bangladesh to attain a global identity as a sports nation. Therefore, as an active corporate entity, Prime Bank has adopted the lead role for promoting cricket through consistent patronage.

Beginning its journey on May 14, 2012, Prime Bank Cricket Club (PBCC) has evolved as one of the best cricket clubs of the country, securing championships in key tournaments of domestic cricket within a short span of time. Cricket is a passion for all Bangladeshis and PBCC was established in the hope of offering players a chance to experience the life of professional cricket and to improve their skills, while providing an opportunity to local young players a chance to experience the international flavour.

PBCC has been endeavouring to bring about qualitative improvement in the domestic cricket arena while building a permanent platform through an infrastructure for grooming talents for the future. It has, therefore, resolved to provide continued support to promote School Cricket in collaboration with BCB in the hope that such efforts will prove beneficial for the cause of sports. Subsequent plans involve the development of an integrated cricket development programme that has started creating a pathway for continued and sustainable athletic progress for promising talents.

The club has achieved considerable success within a short span of time through high professionalism and efficient management which are the hallmarks of a successful cricket club. PBCC, indeed, is the gateway for the upcoming and talented root-level players to nurture themselves not only as a player but as an individual with intellectual growth to meet the ever changing needs and demands of the cricketing world.

PBCC intends to take special care of its players by providing specialised training, excellent coaching and support to help develop their fitness and competency to equip them to uplift our cricket to the international standard. It is a matter of great pride for the club that some of its players are now in the national cricket team and have accomplished great feats. In the year 2019, PBCC participated in Bangladesh Cricket League (BCL) and was the champion in the tournament. PBCC also performed in Dhaka Premier League (DPL).

In order to retain the winning streak of PBCC, the club aspires to provide an enabling environment for participation, learning and achieving, which is underpinned by the club’s values and strong leadership. Rigorous effort, determination and skill are required to reach the apex of excellence and PBCC hopes to reach the pinnacle of success by utilising all the resources at its disposal to make a mark in the field of cricket.

PRODUCT RESPONSIBILITYIMPACT

Customer Health And SafetyProduct And Service LabelingMarketing CommunicationsCustomer Privacy


PRODUCT RESPONSIBILITYIMPACT

Customer Health And SafetyProduct And Service LabelingMarketing CommunicationsCustomer Privacy


About Prime Bank’s Product ResponsibilityActivities, brands, products, and services GRI 102-2

Prime Bank, one of the leading private commercial banks of the country, is operating for about 25 years with recognition and glory in the banking industry of Bangladesh. Apart from regular transaction activities, it offers all sorts of banking services ranging from different deposit products to different loan and advance facilities to our valued customers. The bank helps local businesses to grow through export and import financing as well in addition to collecting remittance from expatriates and thus contributing to the national economy. Moreover, as a socially responsible bank, it believes in green banking and promotes environment-friendly practices to reduce carbon emissions to the nature. The bank is successfully serving its customer base with quality human services coupled with technological experiences. Beyond its national boundaries, it has proudly explored its footprint oversees, having subsidiaries in UK (three branches), Singapore and Hong Kong.

Approach to stakeholder engagement GRI 102-43

The slogan of Prime Bank, ‘A Bank with Difference’ has been well translated into its differentiated customer service that gives the bank a competitive edge in the industry. In order to improve service quality, the bank has a dedicated Service Quality (SQ) team to engage its stakeholders in the improvement process through customer satisfaction survey. The team conduct year-long Mystery Shopping (MS) survey in all of its 146 branches to measure the performance level of service points scientifically, in different categories. As part of this emphasis, the management empowered its Service Quality team with necessary resources. The management also organize gathering program with the valued business clients to hear directly from them.

Key topics and concerns raised GRI 102-44

Dedicated service quality team of Prime Bank conducted mystery shopping survey in all branches (146) of the Bank during the reporting period. The evaluation was done on a scale of 100, combining two broad parameters (8 attributes); One is Service Quality of the Branches and another is branch environment (Housekeeping, maintenance, Environment & branding). Based on the survey, overall service quality has been summarized as follows:

Grade Percentage

Outstanding 1.37%

Good 40.41%

Average 58.22%

Below Average 0%

Poor 0%

� 41.78% of total branches achieved outstanding and good grade while 58% branches scored average grade in overall scores.

� None of the branches or service points has been marked as below average or poor graded service provider.

� Employees are found with good product knowledge (79%), listening and speaking skill (74.30% and 73.50% -respectively) and behavioral skill (76.50%).

Management Approach GRI 103-1, GRI 103-2, GRI 103-3

(a) Report why the aspect is material.

Financial organizations are service oriented and thus the success of business are predominantly dependent on superior service quality than of competitors. Since the local banking industry is saturated with a significant number of banks and they offer almost identical services, the customers have become choosier than ever before. Without ensuring favorable service to the customers, no bank can dare to sustain in the competitive race. Stakeholder engagement helps the bank to identify the desired service level of customers and take corrective measures to deliver the same. Therefore, the aspect of stakeholder engagement is material.

(b) Report how the organization manages the material aspect or its impacts.

� Cumulative and attribute wise scores were shared with Regional Heads so that they can take corrective measures with the help of respective Head of Branches.

� The Management has taken initiative to reward branches and employees who delivered excellent customer service that are known from Mystery Shopping (MS).

� From the MS, the management came to know which branch or employees need training for skill development and organized for training program accordingly through its own Human Resource Training and Development Center (HRTDC).

BrandingEnvironment & Interior

Product Knowledge/Service ExecutionClosing

Behavioral SkillSpeaking Skill

Listening Skill/AttentionGreetings/Welcome

68.67%68.00%

79.00%

76.50%73.50%74.30%

49.10%

50.30%


� The bank introduced state of the art call center to give 24/7 service to its valued customers. During the reporting period more than 2 lacs customer’s calls were entertained and service delivered.

� The bank has dedicated Complaint Cell (CC) to deal with any sort of customer problem.

(c) Report the evaluation of the management approach:

The evaluation of management approach in this regard cannot be made directly; however, there are some indirect ways to recognize the impact. It is well recognized that satisfied customers are the key to business success. Prime bank is enjoying a sustainable profit growth over the years along with sound asset quality with is an indication that the customers are keeping their faith upon this bank.

CUSTOMER HEALTH AND SAFETY GRI 416-1, GRI 416-2

Assessment of the health and safety impacts of product and service categories GRI 416-1

It is to be mentioned that the Bank’s products and services are intangible in nature and thus it does not impose direct health and safety hazards. Moreover, the bank is committed to ensure that its customer touch points are safe, standard and comfortable and monitored by surveillance cameras. The Bank’s Facility Management Division, Audit and Compliance periodically check for safety and health issues of working premises to safeguard both its customers and employees and organizes fire drill on regular basis to ensure fire safety. Prime bank discourages usage of plastic materials in office and encourages re-use of drafted papers, resale of electronic devices for energy efficiency. With increasing prioritization on green banking, the bank exhibits different energy saving initiatives round the year; for example, using eco-friendly office-premise, remaining paperless as much as possible, tree plantation on National Earth Day etc.

Incidents of non-compliance concerning the health and safety impacts of products and services GRI 416-2

Due to the intangible nature, the products and services of our bank are not directly linked to health hazards and safety issues of our valued customers consisting of account holders, depositors and borrowers. Therefore, the bank did not face any fine, penalty or warning due to the suggested non-compliant incidents. However, a number of borrowers of the bank are involved in manufacturing various goods which may have impacts on health and safety of users; but this is not under the purview of our organization. Hence, such incidents of the said non-compliance are not available for our records and reporting purpose. Worth mentioning, as a socially responsible bank, the management prefers to finance those customers who commit ethical business complying with safety issues of stakeholders.



Undoubtedly, customer is the most important stakeholder of the organization and the aspect is material as the customers play pivotal role to identify organization’s economic and profitable aspects. A customer in the branch or any touch point of the bank gives us a chance to serve them and it helps the organization to earn revenue, profit as well as opportunity for cross-selling services and building brand loyalty. We serve and undertake activities that are ecofriendly for our valuable customers.


Prime Bank, a sustainable corporate entity, manages the aspect in terms of the following ways:

� The product of the bank is mostly intangible and that’s why development process is of no issue for health and safety to the customers.

� Prime Bank has introduced online account opening system through digital platform namely Prime DiGi, which offers account opening facility even staying at home, which is a fuel and time saving initiative.

� Internet banking through mobile and web application, online banking facility in all 146 branches, Real Time Gross Settlement(RTGS) have all made customer experience much easier and convenient than ever before.

� The product and service touch points such as Branch, ATM machines, POSs, Kiosk are safe, environment friendly and safety issues like fire safety are ensured.

� The Bank has installed solar panels at 36 branches (out of 146) as well as at 4 ATM booths as part of its commitment of using renewable energy resources.

� Our Bank extends credit facility to clients whose business activities lessen ecological damage, endorse energy efficiency and to support communities who are vulnerable to climate change.

� During the year 2019 our Bank has financed a total of BDT 190.02 crore in green projects like establishing green building, installing ETP and CETP, installing waste heat recovery system and assembling of LED Bulb/Tube.

Funding Purpose Amount financedEstablishing green building BDT 161.14 CroreInstalling ETP BDT 21.81 CroreInstalling CETP BDT 1.00 CroreInstalling waste heat recovery system BDT 4.80 CroreAssembling of LED Bulb/Tube BDT 1.27 CroreTotal BDT 190.02 Crore


� One of our head office premises is located in a LEED (Leadership in Energy and Environmental Design) certified Green Building named Simple Tree Anarkali at 89 Gulshan Avenue, Dhaka which offers utmost efficiency in regard to utility, energy and resource system.

� Our Bank organizes green events e.g. Earth Day, World Environment Day by undertaking activities like giving advertisement in leading daily newspapers, plant trees etc.


Prime Bank Limited is pioneer in obtaining refinance from Green Transformation Fund (GTF) from Bangladesh Bank. During the year 2019, our Bank obtained fund of USD 18.60 million from GTF of Bangladesh Bank and disbursed among multiple customers who are engaged in export oriented manufacturing industry (energy efficient projects). For ensuring customer health and safety, service touch points are monitored through management supervision such as Mystery Shopping, Branch Audit, and Customer Satisfaction Surveys etc. The results are periodically communicated to the management whether safety standards are in place with safety indicators.

Marketing and Labeling GRI 417-1, GRI 417-2, GRI 417-3

Requirements for product and service information and labeling GRI 417-1

(a) Report whether the following product and service information is required by the organizations procedures for product and service information and labeling:

Reporting Information Yes No

The sourcing of components of the product or service a

Content, particularly with regard to substances that might produce an environmental or social impact a

Safe use of the product or service a

Disposal of the product and environment a

Other(social impacts) a

Other Social Impacts:

As the bank’s products and services are unlike tangible goods manufactured in factories, issues like sourcing of components, content/substance affecting environment, disposal of such intangible products are not relevant to the bank. However, our bank’s products and services including deposit and advance products have short-term and long-term, direct and indirect impacts on various stakeholders of the bank and the society as well. Our deposit products help the customers from all walks of society to build savings for them and their future generations; which in turn help the bank to support borrowers for taking loans and advances for their economic and personal ventures. This not only benefits the bank itself for earning revenue for the shareholders and employees but also contribute to the socio-economic progression of the country eyeing for middle-income one.

(b) Report the percentage of significant product or service categories covered by and assessed for compliance with such procedures

As for being intangible products, the service categories of our bank are not relevant to such assessment and compliance.

Incidents of non-compliance concerning product and service information and labeling GRI 417-2

During the reporting period, there was no incident of non-compliance with regulations and voluntary codes that results in fine, warning etc. It may be mentioned here that our actual and potential customers are well informed of prices, charges, fees, rates about the bank’s products and services. Anyone interested about product information can know well from the bank’s website (www.primebank.com.bd), account opening forms, branch employees in person, other business touch-points, brochures and leaflets, other promotional materials etc.


Incidents of non-compliance concerning marketing communications GRI 417-3

Being one of the most compliant banks within the industry, Prime bank has maintained high level of compliance in dealing with both monetary and non-monetary issues during the reporting time. Among non-monetary activities, marketing communications, a powerful tool to connect with customers, had been free from any non-compliance incidents. While communicating with marketing information, the bank remained not only transparent but also vigilant about not to harm any public or private property and violate ethical norms and values.


(a) Report why the aspect is material

The Bank’s marketing communication is a significant activity to attract the target customers. Marketing communication creates awareness, perception, emotional ties within the customer’s mind. Over the years, the marketing communication creates brand identity which creates goodwill of the bank. Thus, the communication efforts help to sell the products and services across all branches, corporate clients, SMEs etc.


Prime Bank use different marketing mixes which include billboard, product brochures, fliers, dangler, display board, notebook, gifts materials, website as well as social media like Face-book fan pages for marketing purpose. Coming across in customer touch points, the customer can make further query about the products and services being advertised or communicated through promotion tools including renowned national dailies and TVCs.

In order to make innovative design and contents for communication, there is a powerful brand and communication team in the bank. Each year, the marketing mix is redesigned so that existing or new products and services have a vibrant and innovative look. Experiencing marketing communication tools, the customers become aware and avail products and services which in turn help them in their investment, savings and business decisions.

The bank believes that without appropriate marketing strategies the organization will not be able to uphold its brand image, win existing customers and acquire new ones.

(a) Report the evaluation of the management approach

Direct evaluation of management approach in marketing and labeling would be very difficult; however, the success of it can be implied from the superior brand image and level of satisfaction of customers which reflects in profitability. Prime bank holds a strong brand image and a sustainable profit growth over last years which is a testament to the efficient management approach.

CUSTOMER PRIVACY GRI 418-1

Substantiated complaints concerning breaches of customer privacy and losses of customer data GRI 418-1

Prime bank has successfully preserved all its customer data with utmost concern and did not face any complaint regarding breaches of customer privacy and losses of customer data during the reporting period. The dedicated Information Security Division (ISD) of the bank has kept its eyes open to protect the customer data from any sort of cyber-attack.

(a) Report the total number of identified leaks, thefts, or losses of customer data

No such issues have been found in case of identified leaks, thefts, or losses of customer data or any substantiated complaints. For internet banking, the management implemented two-factor authentication for enhancing data security and safeguarding from theft. To stop hacking of customer data through skimming devices connected to ATMs, POS, Prime bank introduced EMV-based cards. This will minimize the probability of losing customer data ensuring safety of customer protection.



Undoubtedly, information and data within business are valuable business asset if not the most crucial. For financial organization it is even greater. The widespread use of internet poses a serious threat to the security of these data. The security can be breached in a number of ways, for example by system failure, theft, inappropriate usage, unauthorized access or computer viruses. Remote working, portable IT devices and Wi-Fi all these Modern day working practices increase the threat of data security. The effects of a data security breach can be catastrophic. It takes several years to build brand and reputation for it to be destroyed in just a few hours along with costly lawsuits for employers. Therefore, there is no scope of denying the importance of this aspect.



In order to protect data of valued customer, Prime bank has a strong Information Security Division which is working relentlessly to ensure highest level of data security from any unwanted misuse. In addition, the bank strictly believes that all employees are responsible for data security and therefore arranged web-training for all employees to make them know about their respective functions at workplace. At our Bank, we have a formal confidentiality policy describing both the type of information considered confidential and the procedures employees must follow for protecting confidential information. We adopted the following procedures and are practicing for protecting confidential information:

� All confidential documents are stored in locked file cabinets or rooms accessible only to those who have authority of “need-to-know.”

� All electronic confidential information is protected via firewalls, encryption and passwords.

� Employees clear their desks of any confidential information before going home at the end of the day.

� Employees refrain from leaving confidential information visible on their computer monitors when they leave their work stations.

� All confidential information, whether contained on written documents or electronically, is marked as “confidential.”

� All confidential information is disposed of properly (e.g., employees should not print out a confidential document and then throw it away without shredding)

� Employees refrain from discussing confidential information in public places.

� Employees avoid using e-mail to transmit certain sensitive or controversial information.

� Before disposing of an old computer, the Bank uses software programs to wipe out the data contained on the computer or have the hard drive destroyed.

� Encrypting sensitive customer information when it is transmitted electronically via public networks;

� Training employees to take basic steps to maintain the security, confidentiality, and integrity of customer information, including: Considering notifying consumers, law enforcement, and/or businesses in the event of a security breach.


Since there is no single stand-alone method that offer a complete solution to data security, the whole bank is working to protect customer privacy. General audit, IT audit are performed to check how the employees are doing to safeguard the privacy issue and the result were found satisfactory. Hence, we have demonstrated our effectiveness of maintain secrecy of customer information including names, addresses, and phone numbers; bank and credit card account numbers; income and credit histories; and financial data etc. Thus, the bank did not face any negative incidence concerning with customer data privacy.

Socioeconomic Compliance GRI 419-1

Non-compliance with laws and regulations in the social and economic area GRI 419-1

Prime bank is one of the most compliant banks of the country, if the not the most. It has remained compliant with the central bank’s compliance guidelines as well as other regulatory bodies’. During the reporting period, the bank was not involved with any non-compliance issues concerned with laws and regulations in the social and economic area. Some relevant information already stated in disclosure 416-(1,2) and 417 (1-3) are not mentioned here avoiding repetition error.


(a) Report why the aspect is material

Prime Bank is fully committed to achieving success for our customers, our teams and ourselves through compliance with regulatory guidelines. Compliance with laws and regulations in the areas of social and economic issues is of paramount importance as because it confirms internal and external reputation and trust of customers. Without being compliant, a financial organization cannot operate smooth business with solid corporate governance in the community where it exists.

(b) Report how the organization manages the material aspect or its impacts

There are dedicated Risk Management Division, Credit Risk Management Division, Internal Control and Compliance Division that oversee compliance related issues of the bank. However, all the branches and Divisions are responsible for abiding by internal and external laws and regulations to safeguard any social and economic damage and to ensure transparency to our stakeholders. As part of compliance management measures the bank follows different strategies both internal and external, among which few strategies are mentioned below:


(c) Report the evaluation of the management approach

It is to mention that, during the year 2019, Prime Bank obtained “PLATINUM RANK” in Asia Sustainability Reporting Rating. As recognition of its high level of compliance, Prime Bank is maintaining competitive score in the audit rating of Bangladesh Bank which is the apex regulatory body of banking sector of the country. The internal audit team of the bank function independently and report to the Audit Committee which also operates separately of other aspects of the bank’s management structure. It continuously reviews the company’s system of internal controls. These controls include financial controls that assist the Board in meeting responsibilities for the integrity and accuracy of the company’s accounting records.

Reviewing and updating Risk Management Policy

Reviewing and monitoring internal and external compliance policy and guidelines

Reviewing Risk Appetite

Statement

Performing 5% internal audit on approved memos

Organizing training program: in the reporting period, Prime Bank organized five (05) dedicated training program for 184 officials in order to make them familiar with concept related to Environmental & Social Risk Management.

Participating different social events and performing social activities as part of corporate social responsibility

Issuing Annual Sustainability Report by following Global Reporting Initiative’s (GRI) guidelines


2000 The first version of GRI launched.

The second generation of guidelines, known as GRI G2, was unveiled at the world Summit on Sustainable development in Johannesburg.

GRI was formally inaugurated as UNEP collaborating in the presence of then-UN Secretary General Kofi Annan, and relocated to Amsterdam as an independent non-profit organization.

2002

Launched GRI’s guidance in the name of GRI G3 i.e. third generation of guidelines. Over 3,000 experts from business, civil society and the labor movement participated in G3’s development.

Sector-specific guideline was produced for diverse industries in the form of Sector Supplements (i.e. sector guidelines).

GRI introduced service for its users expanded to include coaching and training, software certification, “beginners’’ reporting guidance for small and medium-sized enterprise.

Accounting for Sustainability launched by the Prince of Wales2006

Taken ‘Growth and Responsibility in a World Economy’,

Held G8 Summit Heiligendamm, Summit Declaration on GRI

Published ‘Guidelines for GRI based external reporting bystate- owned companies (Sweden)

Published ‘Guidelines on Fulfilling Social Responsibility’ by State- Owned Enterprises (China)

2007

SUPPLEMENTARYINFORMATION

Milestone of Sustainability ReportingSustainability Development GoalsGRI Standards Content IndexMedia Highlights


2000 The first version of GRI launched.

The second generation of guidelines, known as GRI G2, was unveiled at the world Summit on Sustainable development in Johannesburg.

GRI was formally inaugurated as UNEP collaborating in the presence of then-UN Secretary General Kofi Annan, and relocated to Amsterdam as an independent non-profit organization.

2002

Launched GRI’s guidance in the name of GRI G3 i.e. third generation of guidelines. Over 3,000 experts from business, civil society and the labor movement participated in G3’s development.

Sector-specific guideline was produced for diverse industries in the form of Sector Supplements (i.e. sector guidelines).

GRI introduced service for its users expanded to include coaching and training, software certification, “beginners’’ reporting guidance for small and medium-sized enterprise.

Accounting for Sustainability launched by the Prince of Wales2006

Taken ‘Growth and Responsibility in a World Economy’,

Held G8 Summit Heiligendamm, Summit Declaration on GRI

Published ‘Guidelines for GRI based external reporting bystate- owned companies (Sweden)

Published ‘Guidelines on Fulfilling Social Responsibility’ by State- Owned Enterprises (China)

2007

Milestone of Sustainability ReportingThe year-wise development of Sustainability Reporting under GRI method is as under:


2008 Declared Financial Statements Act where requires CSR

disclosure for large businesses in Denmark

Held Amsterdam Global Conference on Sustainability and Transparency

Published White Paper on ‘CSR in a global economy’ in Norway;

The Corporate Social Responsibility Voluntary Guidelines in India launched by the Ministry of Corporate Affairs

SEC shifts policies to incorporate ESG concerns (USA) European Workshops on the disclosure of ESG information (European Commission)

Initiation of review of OECD Guidelines for Multinational Enterprises (OECD)

Accounting for Sustainability launches ‘A Practical Guide to Connected Reporting’

Inauguration of Sustainable Stock Exchanges Global Dialogue

Launched GRI’s Amsterdam Declaration on Transparency and Reporting

Update of King Code of Governance for South Africa (King III)2009

2010

SEC releases interpretive guidance on climate change risk disclosure (USA)

Final EU Workshop on the disclosure of ESG information (European Union)

Launch of ISO 26000

Johannesburg Stock Exchange requires integrated reports from listed companies

United Nations Global Compact:10 years anniversary

Launch of the UNGC Differentiation Framework

GRI Guidelines: 10 years anniversary

Establishment of the International Integrated Reporting Committee/Council (IIRC)


Revision of OECD Guidelines

2014

Updated OECD Guidelines adopted at the 50th Anniversary Ministerial Meeting

GRI G3.1 Guidelines launched, with updates on gender, community and human rights

A renewed EU strategy 2011-14 for CSR’ published by the European Commission, with new definition of CSR and announcement of future mandatory sustainability reporting

UNGC women’s empowerment principles

Launch of the UN Guiding Principles

Launch UN Guiding Principles on Human Rights

7th KPMG global survey on corporate responsibility reporting

2011

2012

2013

Rio+20 summit in Brazil

The Group of Friends of Paragraph 47 founded by the governments of Brazil, Denmark, France and South Africa

Genelle II passed in France

Work on the post-2015 development agenda gets underway

Norway and Colombia join the Group of Friends of Paragraph 47 in the first four months of 2013

European Commission launches proposal amending Council Directives

Amsterdam Global Conference on Sustainability and Reporting

Launch of G4, the fourth generation of GRI Guidelines (from May 22, 2013)

2014 Declaration of 5th Global GRI Conference to be held 18-20 May, 2016 in Amsterdam, the Netherlands


2008 Declared Financial Statements Act where requires CSR

disclosure for large businesses in Denmark


Published White Paper on ‘CSR in a global economy’ in Norway;

The Corporate Social Responsibility Voluntary Guidelines in India launched by the Ministry of Corporate Affairs

SEC shifts policies to incorporate ESG concerns (USA) European Workshops on the disclosure of ESG information (European Commission)

Initiation of review of OECD Guidelines for Multinational Enterprises (OECD)

Accounting for Sustainability launches ‘A Practical Guide to Connected Reporting’

Inauguration of Sustainable Stock Exchanges Global Dialogue

Launched GRI’s Amsterdam Declaration on Transparency and Reporting

Update of King Code of Governance for South Africa (King III)2009

2010

SEC releases interpretive guidance on climate change risk disclosure (USA)

Final EU Workshop on the disclosure of ESG information (European Union)

Launch of ISO 26000

Johannesburg Stock Exchange requires integrated reports from listed companies

United Nations Global Compact:10 years anniversary

Launch of the UNGC Differentiation Framework

GRI Guidelines: 10 years anniversary

Establishment of the International Integrated Reporting Committee/Council (IIRC)


Revision of OECD Guidelines

2014

Updated OECD Guidelines adopted at the 50th Anniversary Ministerial Meeting

GRI G3.1 Guidelines launched, with updates on gender, community and human rights

A renewed EU strategy 2011-14 for CSR’ published by the European Commission, with new definition of CSR and announcement of future mandatory sustainability reporting

UNGC women’s empowerment principles

Launch of the UN Guiding Principles

Launch UN Guiding Principles on Human Rights

7th KPMG global survey on corporate responsibility reporting

2011

2012

2013

Rio+20 summit in Brazil

The Group of Friends of Paragraph 47 founded by the governments of Brazil, Denmark, France and South Africa

Genelle II passed in France

Work on the post-2015 development agenda gets underway

Norway and Colombia join the Group of Friends of Paragraph 47 in the first four months of 2013

European Commission launches proposal amending Council Directives

Amsterdam Global Conference on Sustainability and Reporting

Launch of G4, the fourth generation of GRI Guidelines (from May 22, 2013)

2014 Declaration of 5th Global GRI Conference to be held 18-20 May, 2016 in Amsterdam, the Netherlands


2015

GRI launched the G4 Exam in 2015 over more than 70 countries

GRI launched the research publication Defining Materi-ality: What Matters to Reporters and Investors (Part I)

Reporting 2025, based on companies’ agendas and public reports, was launched.

GRI also held its first African regional conference in South Africa.

In October 2016, GRI launched the first global standards for sustainability reporting.

In 2016, 5th Global Conference of GRI was held in Amsterdam, Netherlands.

2017

2016

2018

Declaration of 6th Global Conference to be held on 4-6 March 2020 in Amsterdam, the Netherlands.

6th Global Conference 2020 to be held in Amsterdam, the Netherlands replaced with regional events such as regional conferences and topical global events.

The Global Sustainability Standards Board (GSSB) is launching a project to review the universal Standards.

2019 GRI Summit to be held on November, 2020


2015

GRI launched the G4 Exam in 2015 over more than 70 countries

GRI launched the research publication Defining Materi-ality: What Matters to Reporters and Investors (Part I)

Reporting 2025, based on companies’ agendas and public reports, was launched.

GRI also held its first African regional conference in South Africa.

In October 2016, GRI launched the first global standards for sustainability reporting.

In 2016, 5th Global Conference of GRI was held in Amsterdam, Netherlands.

2017

2016

2018

Declaration of 6th Global Conference to be held on 4-6 March 2020 in Amsterdam, the Netherlands.

6th Global Conference 2020 to be held in Amsterdam, the Netherlands replaced with regional events such as regional conferences and topical global events.

The Global Sustainability Standards Board (GSSB) is launching a project to review the universal Standards.

2019 GRI Summit to be held on November, 2020

413-2

203-2

202-1

203-2

103-2

413-2

203-2

411-1201-1, 203-1

The following table links the Sustainable Development Goals (SDGs) to the relevant disclosures in the GRI Standards. These linkages are based on a more detailed analysis available on the SDG Compass website: www.sdgcompass.org.

GRI Standards


203-2

403-2, 403-3

306-3306-2, 306-4

306-1

102-27

404-1

103-2

202-1, 405-2

401-1, 404-1, 404-3, 405-1

201-1, 203-1

406-1

401-3

102-22, 102-24, 405-1

414-1, 414-2

306-3301-2, 303-2306-2303-3

306-1

303-3

304-1, 304-2, 304-3, 304-4306-1, 306-2, 306-5

305-1, 305-2, 305-3305-6, 305-7


302-1, 302-2, 302-3302-4, 302-5

201-1, 203-1

302-1, 302-2

408-1

203-2

405-1202-1, 401-2

103-2

201-1

409-1

404-1, 404-2, 404-3

102-8, 202-2, 401-1

302-1, 302-2, 302-3302-4, 302-5

405-2

102-41, 407-1

203-2203-2414-1, 414-2402-1

301-1, 301-2

406-1

401-3301-3

303-3

401-1

403-1, 403-2, 403-3, 403-4


201-1, 203-1

201-1

203-2

405-2

203-2

203-1

305-1, 305-2, 305-3305-6, 305-7

302-1, 302-2, 302-3302-4, 302-5

103, 305, 306, 307

301-1, 301-2

204-1

417-1

301-3

306-3

302-1, 302-2, 305-1, 305-2, 305-3


306-2, 306-4

302-1, 302-2, 302-3302-4, 302-5

103, 305, 306, 307

305-1, 305-2, 305-3, 305-405-5, 305-6,305-7

201-2

103, 305, 306, 307

304-1, 304-2, 304-3304-4

305-1, 305-2, 305-3304-4, 304-7

306-3

306-1

103, 305, 306, 307

303-3

306-1


Md. Touhidul Alam Khan, FCMA, CSRA, CSPDeputy Managing Director and Head of SRC

Chairman of Sustainable Finance Committee (SFC)

Mohammad Habibur Rahman Chowdhury, FCADeputy Managing Director and CFO

and Member Secretary of SRC

Md. Emdad Hossain, CSRS, CSPSenior Assistant Vice President

Member of SRC

H. M. Sarwar Maruf, CSRS, CSPExecutive OfficerMember of SRC

Sustainability Reporting Committee (SRC)305-1, 305-2, 305-3, 305-4305-5, 305-7

304-1, 304-2, 304-3, 304-4

304-1, 304-2, 304-3304-4, 306-5

306-3

304-1, 304-2, 304-3304-4, 306-5

408-1

205-1, 205-2, 205-3, 415-1

307-1, 206-1, 419-1, 416-2417-1, 417-2, 418-1, 419-1

102-23, 102-25

102-16, 102-17

103-2

102-21, 102-22, 102-24102-29, 102-37

406-1

418-1

410-1

414-1, 414-2

203-2

Prime Bank firmly believes in the 17 Sustainable Development Goals (SDGs) and has shown its commitment by completing numerous GRI Standards which are connected with the SDGs. The Bank will move forward and try to attain more goals related to the SDGs in the future.

Md. Touhidul Alam Khan, FCMA, CSRA, CSPDeputy Managing Director and Head of SRC

Chairman of Sustainable Finance Committee (SFC)

Mohammad Habibur Rahman Chowdhury, FCADeputy Managing Director and CFO

and Member Secretary of SRC

Md. Emdad Hossain, CSRS, CSPSenior Assistant Vice President

Member of SRC

H. M. Sarwar Maruf, CSRS, CSPExecutive OfficerMember of SRC

Sustainability Reporting Committee (SRC)


GRI CONTENT INDEX

GRIStandards Disclosure Page number(s) and/or

URL(s) Ommission and Explanation

General Disclosure

GRI 102: GENERAL DISCLOSURES 2016

Governance (Continued)

102-29 p. 44, Annual Report 2019(Corporate Governance Section)


102-31 p. 21, 45

102-32 p. 42, 44


102-34

p. 42, Annual Report 2019(Corporate Governance Section) Number and nature of critical concerns not disclosed, as information is subject to specific confidentiality constraints

102-35p. 42, Annual Report 2019(Corporate Governance Section)



102-38Annual total compensation ratio not disclosed as information is subject to specific confidentiality constraints

102-39

Percentage increase in annual total compensation ratio not disclosed, as information is subject to specific confidentiality constraints

Stakeholder Engagement

102-40 p. 32102-41 p. 21102-42 p. 32, 36102-43 p. 33, 102102-44 p. 34, 102

Reporting Practice

102-45

p. 3, 28 all financial statement for Prime Bank & its group are in the Bank 2019 Annual Report(p. 112-117, p. 124-199)

102-46 p. 28102-47 p. 29 102-48 p. 28102-49 p. 28102-50 p. 21

102-51 p. 21

102-52 p. 21

102-53 p. 3, 21

102-54 p. 21

102-55 p. 21

102-56 p. 21

GRIStandards Disclosure Page number(s) and/or URL(s)

Ommission and Explanation

GRI 101: Foundation 2016

GRI 102: GENERAL DISCLOSURES 2016"

Organizational Profile

102-1 p. 21

102-2 p. 22-23, 102

102-3 p. 21

102-4 p. 21

102-5 p. 21

102-6 p. 21

102-7 p. 5, 21, 2019 Annual Report

102-8 p. 77-79

102-9 p. 24

102-10 p. 24, No Significant Variation in this report from last year.

102-11 p. 21

102-12 PBL does not subscribe to such charters

102-13 p. 21

Strategy

102-14 p. 10-16

102-15 p. 17-18

Ethics and Integrity

102-16 p. 19, 46

102-17 p. 84

Governance

102-18 p. 7, 42-45, Annual Report 2019(Corporate Governance Section)

102-19 p. 45 Annual Report 2019(Corporate Governance Section)

102-20 p. 45

102-21 p. 45




102-25 p. 42-43, Annual Report 2019 (Corporate Governance Section)

102-26 p. 42, Annual Report 2019 (Corporate Governance Section)



This report has been prepared in accordance with the GRI Standards: Comprehensive option. The GRI Content Index below indicates the report disclosure and the location of the information in this report.




Material TopicsGRI 200 Economic Standard Series

Economic Performace

GRI 103: MANAGEMENT APPROACH 2016

103-1 p. 28-29

103-2 p. 5, 51, 61, 62

103-3 p. 5, 51, 61, 62

GRI 201: ECONOMIC PERFORMANCE 2016

201-1 p. 51

201-2 p. 53

201-3 p. 53

201-4 No assistance received from the government

Market Presence


103-1 p. 28-29

103-2 p. 77-86

103-3 p. 77-86

GRI 202: MARKET PRESENCE 2016

202-1 p. 84

202-2 p. 77

Indirect Economic Impacts


103-1 p. 28-29

103-2 p. 52, 61

103-3 p. 52, 61

GRI 203: INDIRECT ECONOMIC IMPACTS 2016

203-1p. 52, 61 No measurement of impacts have been performed yet.

203-2 p. 54

Procurement Practices


103-1 p. 28-29

103-2 p. 26

103-3 p. 26

GRI 204: PROCUREMENT PRACTICES 2016

204-1 p. 26

Anti-corruption


103-1 p. 28-29

103-2 p. 79-84

103-3 p. 79-84

GRI 205:ANTI-CORRUPTION 2016

205-1 p. 81, 100% of all operations are assessed for risks related to corruption

205-2 p. 83

205-3 p. 83



Material Topics

GRI 200 Economic Standard Series (Continued)

Anti-competitive Behavior


103-1 p. 28-29

103-2 p. 79-80

103-3 p. 79-80

GRI 206: ANTI-COMPETITIVE BEHAVIOR 2016

206-1

No legal actions for anti-competitive behavior and violations of anti-trust in Bangladesh during the reporting period.

GRI 300 Environmental Standard Series

Materials


103-1 p. 28-29

103-2 p. 63

103-3 p. 63

GRI 301:MATERIALS 2016

301-1 p. 67, 72

301-2 p. 62, 65, 67

301-3 p. 63, 65

Energy


103-1 p. 26-27

103-2 p. 63

103-3 p. 63

GRI 302:ENERGY 2016

302-1 p. 68, 73

302-2p. 68, Business travel is not disclosed as the Bank does not have a system to accumulate these numbers currently.

302-3 p. 68

302-4 p. 69

302-5 p. 69

GRI 103: MANAGEMENT APPROACH (Disclosures 103-1, 103-2, and 103-3)

Water

103-1 p. 28-29

103-2 p. 63

103-3 p. 63

GRI 303: WATER AND EFFLUENTS 2018 (Disclosures 303-1, 303-2, 303-3, 303-4 and 303-5)

303-1 p. 69

303-2 p. 69

303-3 p. 70

303-4 p. 70

303-5 p. 70

GRI 103:MANAGEMENT APPROACH 2016

Emissions

103-1 p. 28-29

103-2 p. 63

103-3 p. 63




Material TopicsGRI 300 Environmental Standard Series (Continued)

Emissions (Continued)

GRI 305: EMISSIONS2016

305-1 p. 70, 75

305-2 p. 70

305-3 p. 70

305-4 p. 70

305-5 p. 70, 71

305-6p. 71, Due to the nature of our business, the Bank does not generate ozone depleting substances305-7

Environmental Compliance


103-1 p. 28-29

103-2 p. 63

103-3 p. 63

GRI 307: ENVIRO-NMENTALCOMPLIANCE2016

307-1 p. 58, 71 No monetary value of significant fines and non-monetary sanctions.

Supplier Environmental Assessment


103-1 p. 28-29

103-2 p. 63

103-3 p. 63

GRI 308:SUPPLIER ENVIRONMENTAL ASSESSMENT 2016

308-1 p. 71

308-2 p. 71

GRI 400 Social Standard Series

Employment


103-1 p. 28-29

103-2 p. 77, 85

103-3 p. 77, 85



Material Topics

GRI 400 Social Standard Series

Employment (Continued)

GRI 401: EMPLOYMENT 2016

401-1 p. 85

401-2 p. 84, 92

401-3 p. 86


Labor Management Relations

103-1 p. 28-29

103-2 p. 85

103-3 p. 86

GRI 402: LABOR MANAGEMENT RELATIONS 2016

402-1 p. 86

Occupational Health & Safety

GRI 103: MANAGEMENT APPROACH (Disclosures 103-1, 103-2, and 103-3)

103-1 p. 28-29

103-2 p. 77, 78

103-3 p. 86

GRI 403: OCCUPATIONAL HEALTH & SAFETY 2018 (Disclosures 403-1, 403-2, 403-3, 403-4, 403-5, 403-6, 403-7, 403-8, 403-9 and 403-10)

403-1 p. 86

403-2 p. 86

403-3 p. 86

403-4 p. 86

403-5 p. 86

403-6 p. 86

403-7 p. 86

403-8 p. 86

403-9 p. 86

403-10 p. 86




Material Topics

GRI 400 Social Standard Series (Continued)

Training and Education


103-1 p. 28-29

103-2 p. 87

103-3 p. 87

GRI 404: TRAINING AND EDUCATION 2016

404-1 p. 87

404-2 p. 87

404-3 p. 90


Diversity & Equal Opportunity

103-1 p. 28-29

103-2 p. 77

103-3 p. 77

GRI 405: Diversity & Equal Opportunity 2016

405-1 p. 79

405-2 p. 84

Non-discrimination


103-1 p. 28-29

103-2 p. 91

103-3 p. 91

GRI 406: Non-discrimination 2016 406-1

p. 91, No incidents of discrimination received during the reporting period.

Child Labor

GRI 103:MANAGEMENT APPROACH 2016

103-1 p. 28-29

103-2 p. 91

103-3 p. 91

GRI 408:Child Labor2016

408-1p. 91, our sector has a low level of child labor risk.


Forced or Compulsory Labor

103-1 p. 28-29

103-2 p. 91

103-3 p. 91

GRI 409: Forced or Compulsory Labor 2016 409-1

p. 91, our sector has a low level of forced of compulsory labor.

Local Communities


103-1 p. 28-29

103-2 p. 94-100

103-3 p. 94-100

GRI 413: LOCAL COMMUNITIES 2016

413-1 p. 94-100

413-2No negative impacts have been identified.



Material Topics

GRI 400 Social Standard Series (Continued)

Supplier Social Assessment


103-1 p. 28-29

103-2 p. 26

103-3 p. 26

GRI 414: SUPPLIER SOCIAL ASSESSMENT 2016

414-1 p. 26

414-2p. 26, no cases of negative social impacts in the supply chain.

Customer Health & Safety


103-1 p. 28-29

103-2 p. 103

103-3 p. 103

GRI 416:Customer Health& Safety 2016

416-1 p. 103

416-2 p. 103

Marketing and Labeling


103-1 p. 28-29

103-2 p. 103

103-3 p. 103

GRI 417:MARKETING AND LABELING 2016

417-1 p. 104

417-2 p. 104, No incidents of non-compliance reported in 2019.417-3

Customer Privacy


103-1 p. 28-29

103-2 p. 105

103-3 p. 105

GRI 418:CUSTOMERPRIVACY 2016 418-1

p. 105, No incidents of substantiated complaints regarding breaches of customer privacy or loss of customer data.


National Center for Sustainability Reporting > Articles > Asia SRR 2019 – Prime Bank received PLATINUM Award from Bangladesh

Asia SRR 2019–Prime Bank received PLATINUM Award from Bangladesh December 6, 2019 9:25 pm The National Centre for Sustainability Reporting (NCSR), Indonesia in collaboration with the Institute of Certified Sustainability Practitioners (ICSP) organized the 16th Sustainability Reporting Awards (SRA)-2019 on November 23, 2019 (Saturday) in Bali, Indonesia.

Prime Bank from Bangladesh has been awarded PLATINUM ranking in this year on their Sustainability Report. The bank has got this award for preparing the Sustainability Report for the year 2018.

Touhidul Alam Khan, FCMA, DMD of Prime Bank (7th from left) poses with the Minister of Research and Technology, The Republic of Indonesia (6th from left) after receiving the trophy along with other awardees from different countries in Asia

This year’s event was attended by 50 companies and came from Malaysia, Singapore, the Philippines, Indonesia, Bangladesh and other Asian countries. The award event, which has been held for the past 15 years, aims to improve the quality of corporate sustainability reports in Asia. The assessments for

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awards are carried out by Judges and Assessors who are Certified Sustainability Practitioners from Institute of Certified Sustainability Practitioners (ICSP) and academicians.

On that occasion, the award was handed over by the Minister of Research and Technology of the Republic of Indonesia, Professor Bambang Permadi Soemantri Brodjonegoro who conveyed the importance of the role of corporations in achieving the National SGS’s.

“Innovation does not have to be an extraordinary finding that can win a Nobel award, it doesn’t have to be like that. It can also be findings or innovations that can help people in general,” Bambang said at the Asia Sustainability Reporting Rating (ASRRAT) in Westin Nusa Dua Resort, Bali on Saturday. He did not rule out the importance of extraordinary discoveries or innovations carried out by scientists or inventors, because the progress of science also depends on them but innovations or inventions can also be in the form of appropriate versions of technology needed by many people.

“For Indonesia, especially to promote SDGs and circular economics we need a combination of scientific advances but at the same time we need to be realistic to be used in everyday life,” Bambang said.

Bambang referred to the Sustainable Development Goals (SDGs), 17 of the goals proclaimed by inter-governmental countries including Indonesia at the UN resolution issued on October 21, 2015. All of these goals are expected to be achieved by 2030.

Meanwhile, the circular economy is a new economic model that emphasizes the concept that the resulting product can be reused for other products. The concept of a circular economy, according to Bambang, is one method that can be used to ensure environmental sustainability. In contrast to conventional economies which stop at waste as the end result of product use, in accordance with SDGs which focus a lot on saving the environment, the circular economy mode can be encouraged by producing environmentally friendly innovations. “In the new economic mode, innovation must focus on making something out of waste and I’m happy when I look at several laboratories in Indonesia, they work hard to make waste into something,” Bambang said.

Michele Lemmens, Regional Head ASEAN Hub of Global Reporting Initiative (GRI), the Netherlands has presented keynote paper in the ceremony.

“It is highly remarkable achievement in Asia that most of the banks & financial institutions are preparing sustainability report as per GRI method. That means, the owners of the organizations are being realized the importance of this report on which many non-financial information include here for future decision which are the most important for the stakeholders.”

Professor Dr. Anak Agung, Chancellor of Udayana University and Dr. Ir. Subandi, Deputy Minister of National Development Planning of Indonesia also presented papers on sustainability on the occasion.

Sustainability Reporting is communication on the economic, environmental and social policies, impacts and performance of an organization and its products in the context of sustainable development.

SDGs are a world agenda that needs support from various parties for their achievements. Therefore, SPC is organized to disseminate and build understanding of the concepts of SDGs embedded sustainability. The sustainability practitioners form around the world along with CEOs/senior executives from different companies, banks, government officials, lecturers and professionals attended in the conference.

There were two Plenary Sessions with the topics on “Climate Change Challenge” and “Corporate talk: Contribution to SDGs.” The panellists from Philippines, Indonesia and Bangladesh have presented their papers before the audience.

Md. Touhidul Alam Khan, FCMA, CSRA presented his paper on SDGs on Bangladesh’s perspective as a panellist in corporate talk of SDGs. Khan is a Certified Sustainability Practitioner (CSP) and first Certified Sustainability Reporting Assurer (CSRA) in Bangladesh who has been specially invited by NCSR & ICSP jointly to participate in this Plenary Session in the international conference as a speaker. Touhidul Alam Khan is Deputy Managing Director of Prime Bank and fellow of Institute of Cost & Management Accountants of Bangladesh (ICMAB) who received the “PALTINUM” award


in favour of Prime Bank in the august ceremony from the Minister of Research and Technology of Indonesia.

Regarding the progress and implementation status of SDGs in Bangladesh, Touhidul Alam Khan explained in the conference in reply of questions from the audience in QA session, “Bangladesh together with other world leaders adopted the 2030 Agenda for Sustainable Development at the United Nations General Assembly in New York on 25 September 2015. This is a global commitment towards a more sustainable, resilient and inclusive development, with 17 Sustainable Development Goals (SDGs) and 169 targets.”

As a banker, he has also explained the role of Bangladesh Bank as central bank in achieving SDGs in Bangladesh. As central Bank; Bangladesh Bank is playing a vital role to design policy guidelines and programs for stakeholders of financial sector of Bangladesh towards implementing the above sustainable development goals.

Kristin Koleen D. Palaganas, SM Investments from the Philippines and Louise G. Pessireron from Kaltim Prima Coal of Indonesia were also presented papers on SDGs in their respective fields.

“Indonesia’s development plans are always designed through a holistic approach, with the framework of Thematic, Holistic, Integrated and Spatial (THIS), along with the fact that Indonesia is a big country consisting of thousands of islands with hundreds of cultural tribe”- said by Pressireron from Indonesia in the presentation. She also opined, “All of these goals need to be translated into such understanding of interlinkages among goals and targets into concrete results on the ground.”

Touhidul Alam Khan as representative of Bangladesh has given some recommendation in his presentation, “localization/customization of SDGs and private sector engagement can play a vital role to achieve the SDGs not only in Bangladesh but all over the world. And, first of all, awareness needs to be created at all levels in turning 2030 Agenda from a global vision into a local reality. And local communities and stakeholders, who must know individual and collective needs and capacities best, are critical partners in implementing and realising the goals. Targets and indicators of SDGs for contextualising the 2030 Agenda need to be appropriately synchronised with local development plans and strategies with utmost importance”.

Jongki Djujino Widjaja of Ernst & Young of Indonesia, Collin Legarde Hubo from UA&P Centre for Social Responsibility of the Philippines were presented the papers on climate change.

NCSR, a registered member of Global Reporting Initiative (GRI), the Netherlands since 2006 and lunched workshops & seminars on sustainability reporting in Asia.

“Sustainability is an integral part of value creation. In recent days, sustainability reporting has become an issue of concern for people from different segments including government, business bodies, research entities, development activists and non-government organizations (NGOs) and it has been acknowledged by them as a key component of development mechanism”, Touhidul Alam Khan told the Bangladesh Post who is also the Chairman of Sustainable Finance Committee (SFC) of Prime Bank.

Dr. Ali Darwin, Executive Director of NCSR told, “It is a very prestigious international award in Asia for those institutions, who prepare Sustainability Reports as per latest GRI Standards. Sustainability Reporting is the key component through which organizations become enable to formulate their goals, assess the development towards goals and thus ensure sustainability for the organization,” opined by Dr. Ali, who has vast contribution to implement sustainability reporting in Asia more than a decade and got life time achievement award on sustainability in this occasion. Michele Lemmens, Regional Head ASEAN Hub of GRI handed over the award to Ali for his outstanding contribution for his initiative and implementation of sustainability reporting in Asia. Dr. Ali started his journey of sustainability in 2002 and who is also the Council Member of GRI and established the NCSR in 2005 in Indonesia and presently there are 2500 nos. graduates on sustainability reporting in Asia including Bangladesh from NCSR.

The theme of Sustainability Report of Prime Bank for the year 2018 was: ‘Exploring the New Horizon- Towards Sustainable Development. “We are proud to say that Prime Bank has published the 6th Sustainability Report for the year 2018 by using latest GRI Standards with assurance first time in Bangladesh. This report conveys disclosures of Prime Bank’s most critical impacts –positive


or negative – on the environment, society and the economy,” viewed by Touhid who is the Head of Sustainability Reporting Committee (SRC) of Prime Bank as well.

The latest non-financial reporting tool known as sustainability reporting tends to follow and evaluate the governance practices, environmental impact along with the commitments of a business entity towards the community. It builds an enabling environment towards achieving Sustainable Development Goals (SDGs) as well.

Prof. Eco Ganis, Chairman of Board of Director of ICSP, Indonesia said, “Sustainability report is a most important communication channel that an organization should consider a very valuable tool by which a company can use to share its environmental performance and environmental activities, the opportunities it offers for employees and the social benefit it creates, in addition to sharing its financial performance.”

GRI’s Sustainable Development Goals (SDGs) is to foster inclusive development and sustainable, green, economic growth by empowering decision makers through sustainability standards and multi-stakeholder network through sustainability reporting.

“The sustainability award is a milestone step in Asia taken by NCSR & ICSP motivating the organizations to more compliance in terms of environment, social & economic perspective which ultimately contributes to achieve the SDGs mapping with all indicators under GRI to 169 targets’, told by Dr. V. Saptarini, who was the judges of ASSRAT and Lecturer of University of Bandar Lampung, Indonesia.

“In the 21st century, sustainability reporting is emerging as a common practice for businesses. Sustainability disclosure has become the best practice followed by companies across the world today although it once used to be practice of a handful of community- oriented or unusually green companies. With a focus on sustainability, organizations can manage their environmental and social impacts while improving natural resource stewardship and operational efficiency and letting it remain a critical component of employee, stakeholders and the relation with them for going the extra miles”, Prime Bank focused in their Sustainability Report.

Prime Bank has also obtained “Materiality Disclosure Icon” from Global Reporting Initiative (GRI), the Netherlands. The Sustainability Reports of Prime Bank has already been uploaded in GRI website.

Mentionable that Prime Bank publishes Sustainability Report under GRI guidelines since 2013 as per green banking policy of Bangladesh Bank and the bank was also awarded GOLD ranking in 2018.

Sources: https://theriverineonline.com/2019/12/03/asia-srr-2019-prime-bank-received-platinum-award-

from-bangladesh/


National Center for Sustainability Reporting > Articles > Prime Bank wins PLATINUM Award from BD

Prime Bank wins PLATINUM Award from BD December 3, 2019 9:22 pm

Prime Bank Limited, a leading private sector commercial bank has been awarded with PLATINUM ranking in this year on their Sustainability Report. The bank has won this award for preparing the Sustainability Report for the year 2018.

The award was distributed in the Sustainability Reporting Awards (SRA)-2019 ceremony held recently in Bali, Indonesia, jointly organised by National Centre for Sustainability Reporting (NCSR), Indonesia in collaboration with the Institute of Certified Sustainability Practitioners (ICSP).

This year’s event was attended by 50 companies and came from Malaysia, Singapore, the Philippines, Indonesia, Bangladesh and other Asian countries. The award event, which has been held for the past 15 years, aims to improve the quality of corporate sustainability reports in Asia. The assessments for awards are carried out by Judges and Assessors who are Certified Sustainability Practitioners from Institute of Certified Sustainability Practitioners (ICSP) and academicians.

On that occasion, the award was handed over by the Minister of Research and Technology of the Republic of Indonesia, Professor Bambang Permadi Soemantri Brodjonegoro who conveyed the importance of the role of corporations in achieving the National SGS’s.

“Innovation does not have to be an extraordinary finding that can win a Nobel award, it doesn’t have to be like that. It can also be findings or innovations that can help people in general,” Bambang said at the Asia Sustainability Reporting Rating (ASRRAT) in Westin Nusa Dua Resort, Bali on Saturday.

Bambang referred to the Sustainable Development Goals (SDGs), 17 of the goals proclaimed by inter-governmental countries including Indonesia at the UN resolution issued on October 21, 2015. All of these goals are expected to be achieved by 2030.

Meanwhile, the circular economy is a new economic model that emphasizes the concept that the resulting product can be reused for other products.The concept of a circular economy, according to Bambang, is one method that can be used to ensure environmental sustainability, Bambang said.

Michele Lemmens, Regional Head ASEAN Hub of Global Reporting Initiative (GRI), the Netherlands has presented keynote paper in the ceremony.

“It is highly remarkable achievement in Asia that most of the banks & financial institutions are preparing sustainability report as per GRI method. That means, the owners of the organizationsare being realized the importance of this report on which many non-financial information include here


for future decision which are the most important for the stakeholders.” Mentioned the keynote.

Professor Dr. Anak Agung, Chancellor of Udayana University and Dr. Ir. Subandi, Deputy Minister of National Development Planning of Indonesia also presented papers on sustainability on the occasion.

Sustainability Reporting is communication on the economic, environmental and social policies, impacts and performance of an organization and its products in the context of sustainable development.

Md. Touhidul Alam Khan, FCMA, CSRA presented his paper on SDGs on Bangladesh’s perspective as a panellist in corporate talk of SDGs. Khan is a Certified Sustainability Practitioner (CSP) and first Certified Sustainability Reporting Assurer (CSRA) in Bangladesh who has been speciallyinvited by NCSR& ICSP jointly to participate in this Plenary Session in the international conference as a speaker. Touhidul Alam Khan is Deputy Managing Director of Prime Bank and fellow of Institute of Cost & Management Accountants of Bangladesh (ICMAB) who received the “PALTINUM” award in favour of Prime Bank in the august ceremony from the Minister of Research and Technology of Indonesia.

Regarding the progress and implementation status of SDGs in Bangladesh, Touhidul Alam Khan explained in the conference in reply of questions from the audience in QA session, “Bangladesh together with other world leaders adopted the 2030 Agenda for Sustainable Development at the United Nations General Assembly in New York on 25 September 2015. This is a global commitment towards a more sustainable, resilient and inclusive development, with 17 Sustainable Development Goals (SDGs) and 169 targets.”

Kristin Koleen D. Palaganas, SM Investments from the Philippines and Louise G. Pessireron from Kaltim Prima Coal of Indonesia were also presented papers on SDGs in their respective fields.

Touhidul Alam Khan as representative of Bangladeshhas given some recommendation in his presentation, “localization/customization of SDGs and private sector engagement can play a vital role to achieve the SDGs not only in Bangladesh but all over the world. And, first of all, awareness needs to be created at all levels in turning 2030 Agenda from a global vision into a local reality.

And local communities and stakeholders, who must know individual and collective needs and capacities best, are critical partners in implementing and realising the goals. Targets and indicators of SDGs for contextualising the 2030 Agenda need to be appropriately synchronised with local development plans and strategies with utmost importance”.

JongkiDjujinoWidjaja of Ernst & Young of Indonesia, Collin LegardeHubo from UA&P Centre for Social Responsibility of the Philippines were presented the papers on climate change.

Prime Bank has also obtained “Materiality Disclosure Icon” from Global Reporting Initiative (GRI), the Netherlands. The Sustainability Reports of Prime Bank has already been uploaded in GRI website.

Sources : https://bangladeshpost.net/posts/prime-bank-wins-platinum-award-from-bd-18673


THEDAILYSTAR.NETPrime Bank speeds up digital push to spur growthMost companies should be content if they just can manage to stay afloat in the face of the devastatin

“We are aspiring to be a digital bank. We are transforming our processes into digitised formats and aspiring to create conveniences for our clients as much as possible through digital media. The COVID-19 crisis has shown in the last five months that digitalisation has no alternative.”

- Rahel Ahmed, MD and CEO, Prime Bank

He speaks about the digital transformation journey and how the bank is envisioning the future of Digital Banking to spur growth in this recent exclusive interview with The Daily Star.

Link:https://www.thedailystar.net/business/news/prime-bank-speeds-digital-push-spur-growth-1954469Source: https://www.facebook.com/bdprimebank/posts/2690874054493347

Source: Published: Friday, November 29, 2019Source: Published: Thursday, July 18, 2019

Head Office:Adamjee Court Annex Building-2, 119-120, Motijheel C/A, Dhaka-1000, BangladeshPhone: 9567265, 9570747-8 PABX, Fax: 880-2-9567230, 9560977, 9566215, 9560960Telex: 642459 PRIME BJ , 671543 PBL MJ BJE-mail: [email protected]. Web Site: www.primebank.com.bdSWIFT: PRBLBDDH

Transformation towards Digital Banking

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Transcript of Transformation towards Digital Banking