Materiality assessment was conducted to understand material sustainability topics that are of significance to both the Bank’s business and stakeholders. The assessment sought inputs from senior management of the Bank through an analytical model to rate the relevant sustainability topics based on its significance to business and importance to stakeholders. The sustainability topics were identified based on the Bank’s vision and strategy, international frameworks such as Global Reporting Initiative (GRI) aspects and Sustainability Accounting Standards Board (SASB) financial sector material topics, principles of National Voluntary Guidelines of Social, Environmental and Economic Responsibilities of Business (NVG-SEE), peer group reporting practices, industry thought leaderships etc. Business drivers and growth opportunities along with an understanding of stakeholder expectations and concerns gathered from existing channels of communication were used as key inputs to rate the topics.

The assessment enabled the Bank to draw a materiality matrix and assess the importance of these topics, and served as key input for the Management Committee to develop the Bank’s Sustainability Framework.