CJSC Kompanion Bank is the first in the Kyrgyz Republic to join the Global Alliance for Banking on Values (GAVB). This decision was announced at the Alliance's annual meeting on April 18 in New York..
GAVB is an independent network of banks and banking cooperatives based on a common mission of using financial resources to ensure sustainable economic, social, and environmental development. It was founded in 2009 by ten pioneer banks that believed in the need for a fairer financial system. Today, it is a growing membership organisation with presence in 45+ countries across Africa, Latin America, Asia Pacific, North America and Europe, unites 70+ financial institutions worldwide, serving nearly 60 million customers and owning up to $200+ billion in combined assets..One of GABV's core principles is to use financial resources to support businesses that benefit society and the environment. The banks in this group are committed to changing the financial system by focusing on financing real businesses and customers striving to achieve sustainable development goals.
"Joining the GABV allows Kompanion Bank to collaborate with other banks-participants of this Alliance and use this group's experience and knowledge to develop further our operations in Kyrgyzstan. It also allows the Bank to strengthen its commitment to sustainable development and continue to work on creating a more responsible financial system," commented Margarita Cherikbaeva, CEO of Kompanion Bank.
Kompanion Bank is already known for its social responsibility and sustainability activities, including its work in financing projects related to supporting the country's ecological environment and agribusiness development, such as:
- "Fruit gardens for remote educational institutions across the country"
- "Eco-Garden"
- "Livestock care and pasture management"
- "Ecology and Gardens"
- "Gardens and Plastic"
Joining the GABV was another step toward ensuring that the Bank's financial resources are used to benefit society and the environment.
"Kompanion Bank's entry into GABV is part of a general trend in the banking industry where banks are seeking to use their resources to achieve broader goals than merely making a financial profit. More banks have started to actively integrate the principles of sustainable development into their activities, which allows them to demonstrate their social responsibility," added Margarita Cherikbaeva.
Among shareholders of the bank are the funds managed by Triodos Investment Management (The Netherlands), which is the daughter company of the Triodos Bank, one of the founders of GAVB and active promoter of sustainable banking values among its partners.
"We are extremely delighted that Kompanion bank was accepted by the Alliance and consider this an important milestone for developing sustainable banking in the Central Asian region. It is an international recognition of Kompanion’s achievements as a bank that serves underserved population and its strong affinity with local (rural) communities, which is in the DNA of the bank. We are convinced this would be a mutually beneficial partnership: Kompanion can share within GABV its know how on promoting eco-agribusiness in local communities and other initiatives to provide financial and non-financial services in rural areas, while it will get access to valuable experience of alliance member banks in sustainable banking.” Comments Rosanna Sarkeyeva, Regional Manager for Eastern Europe, Caucasus and Central Asia, Triodos Investment Management/ Board of Directors member at Kompanion bank.
About Triodos: Triodos IM is a globally active impact investor with 750+ investments in over 50 countries with EUR 6.4 billion in assets under management (as per end of 2021). It is a wholly owned subsidiary of Triodos Bank NV, which was founded in 1980 and is a leading expert in sustainable banking and is one of the founders of the GABV network.
