ESAF Small Finance Bank has won the Global Sustainability Award 2020 organised by Energy and Environment Foundation.
ESAF Small Finance Bank Wins Global Sustainability Award
Chennai: ESAF Small Finance Bank has won the Global Sustainability Award 2020 organised by Energy and Environment Foundation. Bank founder and CEO K. Paul Thomas received the award from union minister Gajendra Singh Shekhawat in an online summit attended by Marise Payne, Australia’s minister for foreign affairs. The bank was selected for this year’s award in recognition of its outstanding contributions, commitment and actions that have made a positive impact on the environment.
Receiving the award MD and CEO of ESAF K. Paul Thomas said, “The award is recognition to ESAF’s unique social business strategy with a triple bottom line approach emphasizing people, planet and prosperity thro ughout our journey of three decades impacting over 4.4 million people and their families spread across different states of India as a social bank.” He also congratulated all other winners in the journey together for a sustainable world as a legacy to leave to our next generation.
Keith Pitt, Australia’s minister for resources, Barry O’Farrell, Australian High Commissioner in India, U.P Singh, secretary, ministry of water resources, Anil Razdan, chairman of Energy and Environment Foundation and others delivered speeches in the annual event. The Global Sustainability Award serves as an inspiration for the transformative action, business excellence and environment management across the world to improve the management of natural resources, demonstrating new ways to tackle climate change or raising awareness of emerging environmental challenges.
About ESAF Small Finance Bank
We are one of the leading small finance banks in terms of yield on advances, AUM growth rate and share of retail deposits. (Source: CRISIL Research Report). Along with our Promoters, we have a history of more than 25 years of primarily serving the unserved and underserved, with a focus on financial inclusion. Our business model focuses on the principles of responsible banking, providing customer-centric products and services through the extensive application of technology
We follow a social business strategy with a triple bottom line approach, emphasising people, the planet and prosperity. Our goal is to become one of India’s leading banks in the microfinance sector that offers equal opportunities through universal financial access and inclusion and livelihood and economic development. Our goal is to become one of India’s leading banks in the microfinance sector that offers equal opportunities through universal financial access and inclusion and livelihood and economic development. We can trace our roots back to 1992, when Kadambelil Paul Thomas, our Managing Director and Chief Executive Officer, along with others, founded ESAF Society, a society focused on the development of microenterprises, community development, and community health development.
ESAF Society started its microfinance activities in 1995. In 2006, Kadambelil Paul Thomas along with others acquired our Corporate Promoter. Thereafter, ESAF Society transferred its microfinance business undertaking to our Corporate Promoter in 2008 pursuant to a business transfer agreement dated March 31, 2008. Our Corporate Promoter was awarded NBFC-MFI status in 2014. Our Corporate Promoter transferred its business undertaking, comprising its lending and financing business, to our Bank on March 10, 2017 pursuant to a Business Transfer Agreement dated February 22, 2017. We commenced our business as a small finance bank on March 10, 2017.
