Cookies Information
This website uses cookies to enhance site navigation, analyze site usage and assist in marketing efforts. Check our Cookie Policy for details.
In light of the diligent materiality exercise, the core CSR Strategy for Bank Audi revolves around our five core pillars, namely Corporate Governance, Economic Development, Human Development, Community Development, and Environmental Protection.
Creating Value through Partnerships
We continued to embrace our work within a collaborative mode of engagement. We believe in the power of partnerships and that we achieve greater outcomes by joining hands and leveraging our complementary strengths and learning experiences. This is anchored in our philosophy of Collaborative Value Creation (CVC).
Our corporate Governance practices and policies are at the heart of our business model and provide the accountability and transparency we consistently aspire to uphold across various facets of our operations.
As well, we have pledged to five of the SDGs, in particular Decent Work and Economic Growth (SDG 8) and Industry, Innovation and Infrastructure (SDG 9) as aligned to our business strategy. Additional and on-going commitments have been kept in the realm of Quality Education (SDG 4) and Gender Equality (SDG 5) in an institution that has always regarded every members of its human capital equally in dignity, appreciation and worth. Finally, the role we cherish in protecting our environment innovatively through our carbon footprint microsite engaging the young generation to commit towards the pledge our nation has taken during COP 21 coupled with signing the Lebanon Climate Act in its introductory phase is also of importance to future generations and our own sustainability as Climate Action (SDG13).
On a parallel note we introduced various initiatives aiming at promoting awareness and engagement with human rights issues.
Through the stewardship of our Board, the various committees we have put in place and the supporting policies and processes we continue to update and reinforce every year, we are confident to deliver the highest levels of quality and accountability to clients, shareholders and stakeholders at large. In this respect, we are proud that the measures we have taken in relation to bolstering our Corporate Governance foundation pillar have earned us recognition as the Safest Bank in Lebanon.
The Board
Bank Audi’s Board of Directors plays an active and engaged role in keeping abreast of key developments and ensuring sound governance.Environmental and Social Management System (ESMS)
In an effort to ensure that responsible financing has become an integral part of our decision-making process, Bank Audi upholds an Environmental and Social Management System (ESMS) evaluating the Bank’s corporate and commercial borrowing clients against their environmental and social (E&S) risks, and ensures that they are aware of those risks, if any, and are taking active measures to reduce them, with the objective to improve the conditions and standards of the community in which they operate.Continuous Institutionalization of CSR: CSR Policy, Code of Ethics and Conduct, International Standards and Frameworks
Refining our governance practices pertaining to CSR, our CSR Committee is now part of the formalized standing committees of the Bank. Our CSR policy, ratified by the Executive Committee of the Bank and updated in 2014, provides a roadmap across various aspects of our CSR involvement. We have also continued our adherence to ISO 26000 guidance, as well as to the principles of the UN Global Compact. We are inspired by GRI standards for sustainability reporting which provides further clarity in relation to our governance orientations and the important refinements we need to introduce. We also signed up to the GRI’s Organizational Stakeholders (OS) which are at the heart of the GRI’s global network .As well, we have pledged to five of the SDGs, in particular Decent Work and Economic Growth (SDG 8) and Industry, Innovation and Infrastructure (SDG 9) as aligned to our business strategy. Additional and on-going commitments have been kept in the realm of Quality Education (SDG 4) and Gender Equality (SDG 5) in an institution that has always regarded every members of its human capital equally in dignity, appreciation and worth. Finally, the role we cherish in protecting our environment innovatively through our carbon footprint microsite engaging the young generation to commit towards the pledge our nation has taken during COP 21 coupled with signing the Lebanon Climate Act in its introductory phase is also of importance to future generations and our own sustainability as Climate Action (SDG13).
On a parallel note we introduced various initiatives aiming at promoting awareness and engagement with human rights issues.
Through the stewardship of our Board, the various committees we have put in place and the supporting policies and processes we continue to update and reinforce every year, we are confident to deliver the highest levels of quality and accountability to clients, shareholders and stakeholders at large. In this respect, we are proud that the measures we have taken in relation to bolstering our Corporate Governance foundation pillar have earned us recognition as the Safest Bank in Lebanon.
Being one of the largest banks in Lebanon, we recognize our responsibility as a leading banker to businesses and organizations of all sizes on the Lebanese market. We are also aware that we have major direct and indirect impacts on the Lebanese economy, whether through creating new jobs and employment opportunities, or enabling small businesses to thrive and helping our local economy to prosper.
With a view to better serving our customers and catering to their every need, we have also adapted some of our facilities and servicing methods to disadvantaged or handicapped people. 65 branches representing 83% of our total number of branches and 84% of our ATM machines are accessible to the disabled. In this context, 14% of ATMs are currently implemented in rural areas. In addition, 23% of Bank Audi branches are located in remote areas.
Our procurement procedure explicitly outlines the rules and regulations that govern the purchasing process, whereby all purchased goods and services should be acquired in a fair, transparent, competitive, timely and efficient manner. The policy also favours ethical and eco-friendly suppliers who, through their business practices, recognize and abide by the Universal Declaration of Human Rights, fight corruption and generally aspire to adopt the ISO 26000 Social Responsibility Standard guidelines as part of their business strategy. Our purchases from local suppliers account for 85% of our total procurement budget.
We also engage with several multilateral organizations and international financial institutions which provide important guidance to the Bank and help us secure medium and long-term funding in support of SMEs.
Because we are cognizant that the impact of our business on the economy, society and environment extends beyond our direct activities, we have formally integrated the principle of responsible financing in our credit policies by developing an extensive environmental and social risk screening process for Bank Audi Group.
We also endeavor to prevent credit facilities from being used in violation of internationally recognized standards in the areas of human rights, environment and anti-corruption.
On a similar note, we continued to promote our “Clear All the Way” campaign, a transparency-oriented initiative launched in 2012.
We believe that the responsible business initiatives we have implemented under the Economic Development pillar are an integral part of our CSR strategy and contribute in various ways to sustain and revive the Lebanese economy.
Economic Performance
We stimulate entrepreneurship and job creation through various tailored initiatives such as: -“Grow My Business” competition, launched in collaboration with the Beirut Traders Association and the MIT Enterprise Forum for the Pan Arab region. - Bader Young Entrepreneurs Program, a promising initiative extending a helping hand to budding Entrepreneurs across the Lebanese scene.Digitalization
Today, a bank is no longer a physical place where people go to manage their finances. With the rapid advances in technology and customization of new digital innovations, people can now perform their banking transactions around the clock, wherever they are.Accessibility and Convenience
Eager to facilitate the daily life of citizens, Bank Audi took the first steps towards implementing a new e-Government and e-Payment system in Lebanon, a first-of-its-kind service which falls under the Bank’s commitment to making life easier to its fellow citizens.With a view to better serving our customers and catering to their every need, we have also adapted some of our facilities and servicing methods to disadvantaged or handicapped people. 65 branches representing 83% of our total number of branches and 84% of our ATM machines are accessible to the disabled. In this context, 14% of ATMs are currently implemented in rural areas. In addition, 23% of Bank Audi branches are located in remote areas.
Microfinance
We maintained our pledge to support the underprivileged and develop impoverished areas in Lebanon by providing a source of financial services for entrepreneurs and small business that lack access to banking and related services. We strive to support microfinance loans by supporting various NGOs and nonprofits that share our goals.Indirect Economic Impacts
We continue our indirect economic impacts through our unique products such as the “Let the Lira Have its Say” campaign, associated with the “Loubnani” credit card launched in 2010. The card is targeted to the middle income social group and intended to strengthen the value of the Lebanese Lira (Lebanon’s local currency), while highlighting the importance of the Lira in boosting economic activity.Customer Satisfaction and Loyalty
Customer satisfaction is one of our top priorities and we extend considerable efforts to measure it in multiple ways. Today, we are glad to acknowledge that around 97.38% of our customers are satisfied with our products and services.Supply Chain
Our supply chain encompasses three important players, namely our customers, our suppliers, and multilateral institutions. Our customers are the main drivers of our organization and we constantly strive to give them the highest priority with respect to our services and banking transactions. Our suppliers are another important driver of our supply chain.Our procurement procedure explicitly outlines the rules and regulations that govern the purchasing process, whereby all purchased goods and services should be acquired in a fair, transparent, competitive, timely and efficient manner. The policy also favours ethical and eco-friendly suppliers who, through their business practices, recognize and abide by the Universal Declaration of Human Rights, fight corruption and generally aspire to adopt the ISO 26000 Social Responsibility Standard guidelines as part of their business strategy. Our purchases from local suppliers account for 85% of our total procurement budget.
We also engage with several multilateral organizations and international financial institutions which provide important guidance to the Bank and help us secure medium and long-term funding in support of SMEs.
Responsible Lending
One of the main roles our bank plays is putting our depositors’ money to good use by lending it out to organizations and individuals who need it to run businesses, buy homes or send their children to school. Lending capital is therefore a critical activity aiming at catalyzing economic growth and prosperity.Because we are cognizant that the impact of our business on the economy, society and environment extends beyond our direct activities, we have formally integrated the principle of responsible financing in our credit policies by developing an extensive environmental and social risk screening process for Bank Audi Group.
We also endeavor to prevent credit facilities from being used in violation of internationally recognized standards in the areas of human rights, environment and anti-corruption.
Financial and Economic Awareness
Our financial literacy programs extend across our CSR pillars. Within the Economic Development pillar, we make sure to produce user-friendly and informative brochures on all our products and services, and to make them available on our website and in our branches. These brochures include all necessary details about our specific products and services.On a similar note, we continued to promote our “Clear All the Way” campaign, a transparency-oriented initiative launched in 2012.
We believe that the responsible business initiatives we have implemented under the Economic Development pillar are an integral part of our CSR strategy and contribute in various ways to sustain and revive the Lebanese economy.
Community Development consists of philanthropic investments targeting the areas of health, humanitarian and social support, culture, children development, as well as employee volunteerism and sports. In addition to direct contributions, we have developed opportunities to connect our customers and employees with social issues, stemming from our longstanding partnerships with various organizations to enhance our reach and impact and help build stronger local communities.
Another program we have adopted in Lebanon is the “Global Money Week” where we annually host students at our premises to enlighten them on the world of banking.
Comparison of Employee Volunteerism: 2013, 2014 and 2015
As illustrated in this section, our commitment to the communities we serve is grounded in solid foundations and will continue materializing our pledge to give back in multiple ways.
Employee Health
Promoting employee health contributes to a healthy and productive business with less absenteeism rates due to illness.Community Health
We support multiple health organizations through philanthropic donations to community health.Humanitarian and Social Initiative
We sustain our active engagement in the support of various worthy humanitarian and social initiatives.Children Development
The Kids Rewards Program, initiated in 2012 with the hope of enlightening children on the importance of donations from an early age, and allows them to account for their own contributions. The Rewards Program allows Bank Audi cardholders to donate their points to support one of eighteen local humanitarian associations, under the umbrella of the “Donate your Points for a Good Cause” initiative.Children and Financial Literacy
We believe that financial understanding and education begin at the early stages of life. Young children aged five or six commonly start asking questions about money and financial transactions. Hence our conviction that financial literacy starts at a young age and therefore our ongoing commitment to KidzMondo, giving young children the opportunity to familiarize themselves with banking basics in a motivational environment. This is part of a broader sustainability goal for Bank Audi, pertaining to increasing financial literacy.Another program we have adopted in Lebanon is the “Global Money Week” where we annually host students at our premises to enlighten them on the world of banking.
Employee Volunteerism
To better connect with our communities, we initiated the “Be a Hero for a Day” Volunteer Program in 2013. The program raises employees’ awareness on important social issues and links their fieldwork to our current philanthropic partnerships with various NGOs.Comparison of Employee Volunteerism: 2013, 2014 and 2015
Culture
Several key cultural initiatives are sponsored by Bank Audi including the Baalbeck, Jezzine, Jounieh, Al Bustan, Byblos, Zouk Mikael, Batroun and Al Bustan festivals. The Bank also sponsors and hosts the annual “Prix Phoenix de la Littérature”.Sports
We dedicate also to sports-related causes because we believe in the importance of sports as part of our employees’ and communities’ lives and we participate annually in the Beirut International Marathon in support of various causes each year.As illustrated in this section, our commitment to the communities we serve is grounded in solid foundations and will continue materializing our pledge to give back in multiple ways.
Being one of the largest private sector employers in Lebanon and reflecting upon our unwavering commitment to human capital, diversity and equal opportunity, cultivating human talent is one of our top priorities at Bank Audi. Internally, we seek to put our people first and consider them as our most vital asset as we extend considerable efforts to be recognized as a progressive and responsible employer. Externally, we are strong supporters of education and youth development and strive to build a stronger human capital talent pool for a more prosperous and resilient society.
In 2016, we invested more than USD 1.9 million in employee training and development. More than 111,000 training hours were deployed in 2016, covering a bulk of 2,324 employees almost equally split in terms of gender representation and targeting all levels of employment.
We also complement our pay schemes with various significant benefits including performance bonuses, medical insurance and coverage, paid leaves, life insurance, special loans facilities, insurance plans, scholarship insurance, work accident insurance, transportation allowance, family allowances , marriage allowance, child birth allowance , children education allowances, death allowances, additional travel allowances, end of service indemnities, mobile allowances, as well as an infirmary, a gymnasium and a music studio.
In 2016, we have succeeded in maintaining a very low human capital turnover rate of 6.5%.
As such six employee clubs are active promoting a variety of interests: community Club; Green Club; Music club featuring Band Audi, Audiyat and MelAudi; Sports Club; Toastmasters and Travel Club.
Training and Development
Our people being our most important asset, our success as a bank is contingent on providing the right training, development and opportunities to our employees in order to help them progress in their jobs and continue to be rewarded for their achievements. Hence our commitment to sustain a high-quality work environment where our employees feel valued and rewarded, and motivated to deliver the level of service our customers and shareholders expect and deserve. Trainings have led to a ratio of successfully trained employees to total employees of around 71%.In 2016, we invested more than USD 1.9 million in employee training and development. More than 111,000 training hours were deployed in 2016, covering a bulk of 2,324 employees almost equally split in terms of gender representation and targeting all levels of employment.
Diversity and Equal Opportunity
At Bank Audi, we view diversity as a prerequisite for maintaining a pleasant and healthy working environment.Human Resource Planning
We continuously engage in Human Resource Planning (HRP) as we strategically plan our growth and various needs. Succession planning is a top priority at Bank Audi and we are always keen on using appropriate recruitment channels including online applications and university job fairs. Furthermore, we offer Internships to over 510 university students each year. Outstanding interns are flagged in our records for potential future recruitment at the Bank.Compensation and Benefits
Bank Audi seeks to offer its hardworking employees fair and highly competitive compensations and benefits compared to market rates. Salaries and benefits constitute our highest HR costs.We also complement our pay schemes with various significant benefits including performance bonuses, medical insurance and coverage, paid leaves, life insurance, special loans facilities, insurance plans, scholarship insurance, work accident insurance, transportation allowance, family allowances , marriage allowance, child birth allowance , children education allowances, death allowances, additional travel allowances, end of service indemnities, mobile allowances, as well as an infirmary, a gymnasium and a music studio.
Rewards System and Employee Give-Back
At Bank Audi, we are aware that top performing employees need to be recognized for their hard work, commitment and efforts. The annual Silver Jubilee ceremony rewards employees for their 25 years of service at the Bank. On the other hand, we make sure to acknowledge the work of our top performers throughout our branch network on a monthly and yearly basis.Employee Retention
As part of our determination to retain our employees, we care that they take the time they need to nurture their newborns and cater to their parental needs. We also provide space for them to return back to work refreshed before pursuing their career paths.In 2016, we have succeeded in maintaining a very low human capital turnover rate of 6.5%.
Employee Wellness
We enrich our employee wellness schemes to tap into new areas which ensure that Bank Audi remains an employer of choice. Hence we venture to relieve our employees from any work-related stress and encourage them to maintain a good work-life balance by improving group dynamics as well as employee bonds within the Bank.As such six employee clubs are active promoting a variety of interests: community Club; Green Club; Music club featuring Band Audi, Audiyat and MelAudi; Sports Club; Toastmasters and Travel Club.
Human rights
We recognize the rights of each employee and the diversity of opinion represented by the communities we employ and serve, as detailed in our Code of Ethics and Conducts.Spreading Awareness on CSR at the Bank
We are keen on engaging our employees in our CSR efforts and activities. A CSR Awareness Series targeting our own employees and focusing on the importance of being responsible citizens. Both internally (at the Bank) and externally (in our community), taking collective action within Bank Audi’s CSR strategy, and extending responsibility to the homes and lives of each of our employees in order to have a greater impact on the communities we operate in.
Our commitment to environmental responsibility is as strong as ever. We build on the momentum since 2013 to introduce and nurture a range of initiatives pertaining to environmental responsibility. We further developed our environmental initiatives and are proud to receive a certificate of acknowledgement from the Ministry of Environment in Lebanon for being a leading institution in quantifying our Green House Gas (GHG) emissions.
We pushed forth our Paperless Banking Strategy and aimed at converting our operations into paperless operations by implementing the following:
Probing into our GHG emissions revealed a significant improvement trend since 2012. As per our GHG inventory based on the GHG-Protocol Corporate Standard, in 2016 were 19,976.2 tCO2e, equivalent to 6.01 tCO2e per employee and 0.200 tCO2e per m2 when accounting for the employees and total space occupied by the Group’s amenities respectively.
It is important to note that this number has decreased when compared to 2012, the baseline year; all while acknowledging that the space occupied by our business has increased by 9.89% and employment by 16.55%.
Bank Audi’s Greenhouse Gas Emissions between 2012 and 2015
Environmental Awareness and Stewardship
One of our main objectives is to further instill environmental awareness by motivating our employees to act as good environmental stewards at work and at home through various workshops, activities and initiatives.Environmental Loans and Sponsorships
Externally, we continued to promote environmental sustainability through our environmental loans, sponsorships, and for-cause or benefit sponsorships.Measuring Our Environmental Impact Solid Waste
The need to promote environmental protection within the Bank while engaging and sensitizing our stakeholders in the process remains an important goal for Bank Audi. With this in mind, we have sustained our “Grow Green” program aimed at collecting recyclables at the Bank’s three special hubs.- Saving the equivalent of 8,662 trees
- Recycling 663 kg of plastic
- Improving our paper recycling by 300%
- Recycling 887 kg of plastic bottles
We pushed forth our Paperless Banking Strategy and aimed at converting our operations into paperless operations by implementing the following:
- Document Management System (DMS).
- Online Banking Solutions.
- Promoting "Paperless" Projects.
- Operational Process Reengineering.
| Year | Kilograms of Paper Collected for Recycling |
| 2012 | 51,770 |
| 2013 | 83,192 |
| 2014 | 103,722 |
| 2015 | 146,769 |
| 2016 | 111,080 |
GHG Emissions
We work in tandem with a certified institution that help us conduct a comprehensive audit of our carbon footprint, as well as monitor and communicate useful information to our branches and offices.Probing into our GHG emissions revealed a significant improvement trend since 2012. As per our GHG inventory based on the GHG-Protocol Corporate Standard, in 2016 were 19,976.2 tCO2e, equivalent to 6.01 tCO2e per employee and 0.200 tCO2e per m2 when accounting for the employees and total space occupied by the Group’s amenities respectively.
It is important to note that this number has decreased when compared to 2012, the baseline year; all while acknowledging that the space occupied by our business has increased by 9.89% and employment by 16.55%.
Bank Audi’s Greenhouse Gas Emissions between 2012 and 2015
