SBM Holdings Ltd

Sustainability Report 2022

 Chairman’s
Statement
Dear Readers,

A new impetus to the organisation

I am proud to witness that, as it further embarks on its growth trajectory and strengthens In parallel, while making allowance for country-specific imperatives and exigencies, we will
its business model, the SBM Group has articulated and endorsed a clear and comprehensive ensure that our sustainability initiatives are effectively and timely disseminated across our
Sustainability Agenda. This marks a major milestone in the eventful history of the Group, different operating entities, helped by the adoption of an aligned approach and a transparent
especially at around the time when it is celebrating its 50th anniversary and is contemplating communication of Group aspirations.
the future with renewed optimism and confidence.
Importantly, while devising and executing its sustainability strategies, the SBM Group will
As a responsible and caring corporate citizen, we are fully conscious that it is our proud duty ensure compliance with applicable legal and regulatory guidelines, internationally recognised
to do our best to go beyond our financial figures and achieve a lot more for the benefit of all codes, norms and standards, its internal code of ethics and conduct, and the expectations of its
our stakeholders. Aligned with our core and long-standing purpose of fuelling meaningful diverse stakeholders.
and positive change in the economies and societies in which we operate, the objective of the
Group Sustainability Agenda is to nurture a coherent and consistent approach across our Looking ahead for a strengthening of our sustainability footprint
operating entities and to focus our efforts on initiatives where we can make the greatest Let me strongly affirm that the Board of Directors of SBM Holdings Ltd and the leadership
difference. In this spirit, the Agenda defines how we aspire to constantly promote the sound across the Group are fully committed to fulfilling the Group’s sustainable development
and sustainable progress as well as the well-being of our organisation and its numerous ambitions. This implies reinforcing capabilities in different areas and ensuring that the right
stakeholders, including shareholders, employees, customers and our presence countries frameworks are in place with a view to providing Management and staff with the necessary
at large. It reflects our unflinching and transparent commitment to help economies and guidance, tools and resources to attain set objectives.
societies confront their toughest challenges, particularly at a time when global economic,
geopolitical, social and climatic disturbances are taking centre-stage. In fine, the SBM Ending here, I would say that we are united around our purpose of creating a sound and
Group is, across its operating entities and as a prominent financial services provider, sustainable future for generations to come, while continuously improving the brand image
dedicated to creating and distributing sustainable value for the immediate and longer-term and goodwill of the SBM Group.
benefit of all its stakeholders. Towards these ends, I know we can rely on the dedicated support, endorsement and
stewardship of employees, Management and Board members of the Group’s local and
The Group’s ongoing drive and endeavours
foreign subsidiaries.
During 2022, as a financial institution with a long-standing history of propelling social and
Looking forward to further elevating our Sustainability Agenda to the pinnacle of the
financial innovations, we have enhanced our value proposition and took further commitments
Group’s strategy, as the organisation strives to make a real difference to lives and livelihoods
in the Environmental, Social and Governance (ESG) space, alongside striving to adhere to the
across its presence countries.
United Nations Sustainable Development Goals. As such, we aim to nurture an integrated
view of ESG risks and opportunities associated with our business, underpinned by robust
frameworks, structures and controls for oversight and execution. Bearing this in mind, we
recognise ESG risk management as a competitive differentiator for the SBM Group.
To support our endeavours, we established a fitting governance set-up for appropriate
monitoring of our initiatives, while we continue to work on relevant processes which will help
us achieve our ambitions. Indeed, we are only at the beginning of a long and exciting journey. Sattar Hajee Abdoula
We are, thus, aware that further wide-ranging initiatives and notable changes to the way we Group Chairman
undertake our business are warranted to entrench the right foundations for success, notably in
terms of governance, risk management, operating models, human capital, customer solutions,
stakeholder management, etc. We are, along the way, intent on capitalising on subject matter
experts and business partners to make things happen in the sustainability and ESG fields.
 About this
Sustainability Report

The philosophy
This Sustainability Report provides an overview of the
SBM Group Sustainability Agenda and showcases the Reference icons
initiatives carried out by SBM, as a responsible and Our stakeholders
caring organisation, to support and promote sustainable
development and growth. Shareholders, debt
Suppliers and
This report should be read in conjunction with the SBM holders and investor Employees
strategic partners
community
Holdings Ltd Annual Report 2022.

Societies and Governments and

Customers
communities regulators

Scope and boundary

Scope: Strategic intents and operating frameworks Navigation
of SBM Holdings Ltd and its subsidiaries (referred to
as ‘SBM’, ‘The Group’ or ‘SBM Group’) as well as the Learn more in SBM
projects, initiatives, and activities carried out to support Read more in Further details on
Holdings Ltd Annual
this report our website
and promote sustainable development and growth. Report 2022

Period covered: From 01 January 2022 to 31 December

2022, unless otherwise stated.
 Key initiatives and achievements
across our Pillars

ontent
SBM Group in brief 22 Pillar 1: Sustainable business
05 Salient features 26 Pillar 2: Responsible organisation
06 Our journey to sustainability 30 Pillar 3: Inclusive communities

The SBM Group

Sustainability Agenda
07 Our approach and framework
08 Our 3 core Pillars of engagement 37 Concluding remarks
and 13 key Commitments
12 Governance framework

Engaging with stakeholders

via multiple channels
13 Approach and responses across
stakeholders
19 SBM Foundation
21 SBM Academy
 SBM Group
in brief

Salient features In 2022, SBMH received a rating of BBB (on a scale

of AAA-CCC) in the MSCI ESG Ratings* assessment.
Established in 1973, the SBM Group, headquartered in Mauritius, is a
reputed financial services provider, offering a comprehensive suite of
banking and non-banking financial solutions to accompany individual
and corporate and institutional clients across segments. In line with its
international strategy, SBM has expanded overseas, establishing presence
in India in 1994, in Madagascar in 1998, and in Kenya in 2017. SBM Holdings
Ltd (SBMH), the ultimate holding company, is listed on the official market
of the Stock Exchange of Mauritius (SEM) since 1995 and is currently the
third largest listing, with a market capitalisation of MUR 13.6 billion as at
31 December 2022. In 2019, SBMH signified its intent to be at the forefront
of the sustainability agenda and strive for an environment-friendly world by
joining the SEM Sustainability Index (SEMSI).
* Disclaimer: The use by SBMH of any MSCI ESG research LLC or its affiliates (“MSCI”) data, and the use of
MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement,
recommendation, or promotion of SBMH by MSCI. MSCI services and data are the property of MSCI or its
Read more on SBM Group in the Corporate profile information providers and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or
section of the Annual Report 2022. service marks of MSCI.

SBM Holdings Ltd | Sustainability Report 2022 05

 Our journey 2005
2016
Set up of

to sustainability
SBM Foundation
Set up of 3 charitable Trust Funds
(SBM Education Fund, SBM Sports
Fund, SBM Staff Children Education
Fund), with the objectives of promoting 2010
education and sports in Mauritius. This A. Re-engineering SBM’s CSR architecture in 4
The creation of SBM stems from a powerful social reason: initiative coincided with SBM’s 30 years focus areas:
providing the Mauritian community access to banking, of operation in Mauritius. 1. SBM Trust Funds 2019
irrespective of wealth and culture, especially those in the Entry in the
2. National Programmes
remote rural areas. Since then, SBM has been on a growth 1973 Stock Exchange
journey, generating value for the Mauritian economy and 3. SBM CSR Programmes, in partnership of Mauritius
Marks the
society and expanding its footprint in India, Kenya and with registered NGOs Sustainability
start of SBM
Madagascar. Across the geographies where SBM is present, 4. SBM Internal CSR Programmes Index
the philosophy of supporting the community while ensuring
sustainable business growth has remained embedded in our B. Introduction of unique scholarship scheme for
operating model. bright and needy students
In fact, since its inception, SBM has been largely involved 2022
in Corporate Social Responsibility (CSR) activities which Articulation of
reflect the Group’s philosophy of implementing sound the SBM Group
business practices, launching innovative products and Sustainability
services which promote financial inclusion. Thus, SBM has Agenda
continuously assisted the communities in which we operate,
thereby helping shape a better and more sustainable
society. Here, we share a snapshot of our sustainability
journey, culminating to a milestone in 2022 when the Group
Sustainability Agenda was defined.

SBM Holdings Ltd | Sustainability Report 2022 06

 The SBM Group s well
Sustainability Agenda p e ra t io n s a
t h e im p a c t of our o 1 7 SDGs.
n s c io u s o f u te t o a ll
We are co y t o p o s it iv e ly contrib s h ort to
p o r tu n it o v e r t h e
as the op e p r io r it is e d 12 SDGs y t o our
, w e h av a te r ia l it
However h h a v e t h e highest m
whic
medium term e y s ta k e h o lders.
our k
business and
llows:
Our approach and framework The se a re a s fo

Building on strong and well-established foundations, SBM has reviewed its strategy
and defined a Group Sustainability Agenda (thereafter referred to as “Agenda”). The
objective is to have a coherent and consistent approach across operating entities and to
focus our efforts where we can make the greatest difference for SBM, our stakeholders
and the society.
Recognising the strong connection of the sustainability philosophy to the mission,
core values and the strategic direction of SBM Group, 3 simple yet powerful Pillars
encompassing 13 Commitments have been formulated to express what the organisation
stands for and how decisions are made. In other words, the SBM Group Sustainability
Agenda showcases the type of organisation we are and want to be as well as our unique
role in supporting the sustainability vision of Mauritius and the overseas economies
where we operate.
Our approach to sustainability is targeted and collaborative. It addresses the critical and
emerging Environmental, Social and Governance (ESG) issues which impact the Group
and the communities we serve.
The Agenda was approved by the SBMH Board of Directors in October 2022 and
endorsed by all the leaders of our operating subsidiaries, including the SBM Foundation
and SBM Academy. Having all internal stakeholders embracing the Agenda is due to the
idea that sustainability is no longer just a CSR function or a way to mitigate risk - it must
be embedded into every part of our business.
Hence, with our purpose of creating value for our stakeholders and the society firmly
in mind, the United Nations Sustainable Development Goals (SDGs) have provided a
sound framework for identifying how SBM can play a more active role in the sustainable
development in our countries of presence. The SDGs also help define how, through our
business, resources and skills, we respond and contribute to the environmental and
societal challenges, while also taking into account country specifics and adhering to
regulatory guidelines.

SBM Holdings Ltd | Sustainability Report 2022 07

 The SBM Group
5. Corporate governance

Pillar 2 - Responsible organisation 6. Ethical and compliant business practices

Sustainability Agenda (cont’d) To conduct our activities

with integrity 7. Employee well-being and talent management

8. Environmental consciousness

Our 3 core Pillars of engagement and

13 key Commitments
Our Group Sustainability Agenda reflects our mission, core values and the deep-rooted
philosophy of SBM of driving positive impact for the society and economy.

Pillar 1 - Sustainable business

To promote greater social Pillar 3 - Inclusive communities
and environmental responsibility
To foster inclusion, diversity
and equality
1. Sustainable financing
9. Poverty alleviation
2. Sustainable consumption and production
10. Social and gender equity
3. Entrepreneurship
11. Education for empowerment
4. Climate change mitigation and adaptation
12. Good health and well-being

13. Cultural diversity and vibrancy

Our mission Our values

To achieve strong and sustainable returns for our
shareholders, meet the relevant needs of our stakeholders and Customer centricity Integrity Prudence
support the development of the community at large Trustworthiness Respect

SBM Holdings Ltd | Sustainability Report 2022 08

The SBM Group
Sustainability Agenda (cont’d)

Pillar 1 - Sustainable business Commitments Stakeholders

Commitment 1 : Sustainable financing

• Enhance and develop green and sustainable financing offerings that drive positive
social, environmental and economic impact
• Finance projects that promote long term sustainable development of the economy
To promote greater social
and environmental responsibility

Commitment 2 : Sustainable consumption and production

• Promote digital products and services to foster safe and inclusive banking
• Leverage technology to enable customers to better understand and manage their
What we mean own financial behaviours

SBM, at its core, is a financial institution. • Enhance awareness among our customers for responsible use of financial products
Hence, SBM engages to promote long-
term prosperity by financing sustainable Commitment 3 : Entrepreneurship
development, delivering value to all
• Support local ingenuity through targeted financial solutions
stakeholder groups and creating a positive
economic, social and environmental impact. • Promote financial literacy to empower entrepreneurs
• Facilitate dialogue with market players for a sustainable growth

Commitment 4 : Climate change mitigation and adaptation

• Comply with regulatory and legal requirements regarding climate risk
• Establish internal processes and build capacity to reduce carbon emissions
• Enhance awareness among customers and employees on climate change

SBM Holdings Ltd | Sustainability Report 2022 09

The SBM Group
Sustainability Agenda (cont’d)

Pillar 2 - Responsible organisation Commitments Stakeholders

Commitment 5 : Corporate governance

• Establish strong governance structure and framework to promote a culture of accountability
and ethical conduct
• Support the Board of Directors to have oversight of efforts to ensure responsible
To conduct our activities business practices
with integrity

Commitment 6 : Ethical and compliant business practices

• Comply with all applicable laws and regulations in the jurisdictions where SBM operates
• Monitor and respond to emerging regulatory obligations while continually creating
What we mean awareness amongst employees and customers

SBM Group is committed to upholding • Establish robust data protection procedure to ensure data is protected during its full lifecycle
the principles of integrity, clarity, and
transparency in all its activities. In other Commitment 7 : Employee well-being and talent management
words, SBM fosters a culture of ethics by
• Attract and retain talent, in line with the Group’s strategic orientations
ensuring decisions are in the interest of our
customers, create economic value and are • Support meaningful career for our employees through capacity building
systematically responsible. • Provide a caring environment which fosters a purpose-driven and value-led culture

Commitment 8 : Environmental consciousness

• Establish responsible internal practices and processes to reduce the carbon
footprint of our operations
• Incorporate smart energy management systems to enhance energy efficiency and measurement

SBM Holdings Ltd | Sustainability Report 2022 10

The SBM Group
Sustainability Agenda (cont’d)

Pillar 3 - Inclusive communities Commitments Stakeholders

Commitment 9 : Poverty alleviation

• Support vulnerable groups through initiatives that reduce poverty
and foster inclusive growth

To foster inclusion, diversity

and equality Commitment 10 : Social and gender equity
• Promote equal opportunities for all and support in building an inclusive
and equitable society
• Promote women empowerment

What we mean
SBM thrives in building an inclusive business, Commitment 11 : Education for empowerment
by driving and supporting initiatives which • Provide tools and technology to vulnerable groups to improve their
provide access to decent living, promote good access to education
health and well-being and which support
reduced inequalities.
Commitment 12 : Good health and well-being
• Design and support programmes and practices to promote good health
• Support people with disabilities

Commitment 13 : Cultural diversity and vibrancy

• Celebrate cultural diversity
• Promote local art and culture

SBM Holdings Ltd | Sustainability Report 2022 11

The SBM Group
Sustainability Agenda (cont’d)

Governance framework
A fitting governance framework has been put in place to ensure proper
oversight and guidance as well as to bring alignment and synergies
across the operating entities with regards to the sustainability initiatives
established under the 3 pillars of the Agenda. This is principally under the
purview of the Corporate Governance, Conduct Review and Sustainability
Committee, which meets on a quarterly basis. Through this committee,
the SBMH Board is duly apprised of progress made on a regular basis.
Similarly, at the management level, a Group Sustainability Forum has been
established. This ensures a coordinated approach across entities, ensuring
that we focus our efforts where we make a positive difference for
our stakeholders.

For more information, please refer to the Corporate

Governance Report of the Annual Report 2022.

SBM Holdings Ltd | Sustainability Report 2022 12

Engaging with stakeholders
via multiple channels
Suppliers and Societies and
strategic partners communities

Customers Employees

Approach and responses

across stakeholders
Since financial institutions play a systematic role in the society,
our stakeholders expect that these generate value and support
Shareholders, debt
sustainable development and growth. Hence, SBM engages with
holders and investor
community all its stakeholders to understand and respond to their specific
expectations and concerns. This provides valuable insights that help
Governments and
us shape our priorities and strategy. We are continuously adapting to
regulators
a changing environment and are geared to provide relevant solutions
that address the evolving needs and expectations of our stakeholders.
Our engagement approach is tailored to each stakeholder group and
is reviewed regularly to strengthen its effectiveness.

SBM Holdings Ltd | Sustainability Report 2022 13

Engaging with stakeholders
via multiple channels (cont’d)

Employees Retention rate of our Key expectations

operating entities
• Opportunities for career and
SBM Bank (Mauritius) Ltd 92% personal development

+3,100 Banque SBM Madagascar 89%

• Employee wellness and safety

employees • Effective performance

management and recognition
SBM Bank (India) Limited 72%
SBM Bank (Kenya) Limited 83% Our responses Rajnish Lutchmah
+75,000 SBM (NBFC) Holdings Ltd 74% • Ongoing training and education
Acting Head of Credit Underwriting Team,
SBM Bank (Mauritius) Ltd
training hours in 2022
• Competitive remuneration “Next year will mark my 40th year of service at SBM. I had
planned to go to India to study in 1984. I answered a job
and benefits advert from SBM in the meantime, with the intention to work
• Performance management for a while before leaving. 35 of my 40 classmates applied at
the same time. We all got in! I never left. I studied part-time
integrated with development at the University of Mauritius (in collaboration with Indira
programmes for personal Gandhi Open University) and through distance learning
Training and development including development while working. I started as a Teller, then in the Internal Audit
Department and later as Relationship Manager (Retail and
induction course for new recruits • Collective bargaining agreement Corporate). I was Branch Manager for ten years before moving
Performance appraisals to Marketing, then Corporate Banking and presently Credit
Underwriting ... One of my greatest satisfaction is to have
Intranet been part of that generation that participated in SBM’s move
Mode of to democratise access to banking services for thousands of
Internal communications households. We used to go to the most remote parts of the
engagement country to canvass in community centres, talk to people, open
Team engagement and team branches...A few years after that, SBM introduced its ATMs and
building sessions this was yet another revolution in the local banking landscape.
I must say that, nowadays, the increasing digitalisation of our
Welfare activities services is another exciting journey for SBM...”
Cultural events
SBM Holdings Ltd | Sustainability Report 2022 14
Engaging with stakeholders
via multiple channels (cont’d)

Vola Rakotoarivelo Nyawira A. Gitari

Anti-Money Laundering Manager, Senior Officer, Performance Management,
Banque SBM Madagascar SBM Bank (Kenya) Limited

“My journey at SBM started on 1st January 1998. I still vividly “The last four plus years at SBM have been marked by
remember the day when a colleague called to encourage me significant individual and institutional milestones. Being
to join SBM Madagascar. I’m grateful for having tapped into part of the Finance department - a team with great
this opportunity. When I started my career, I was responsible intra-departmental synergy, cultivated by the leadership
for clearing and cashiering and today, I am the Anti-Money and nurtured by its members - has created a conducive
Laundering Manager. SBM has allowed me to unleash my environment for learning and growth. Consequently, this has
potential while always challenging me to be better in my role. resulted in easier, more efficient achievement of goals, both for
SBM is one of the best employers fostering a positive and the team members and the organisation at large.
caring environment for staff members by providing flexible One of my most impactful moments at the Bank has been
working hours and being receptive to employees’ feedbacks.” consistently running the Friday morning departmental huddle
since 2019, aided by my workmate Roselyn Wanjiku. In 2022
especially, we had every member of the team facilitate a
session in one of the three huddle categories (education,
personal development and fun). It was great to watch
individuals step up to the task and deliver exceptionally. Other
moments of impact have been the times I have taken part in

Dhanashri Dalvi organising and facilitating different team-building activities

across the years (Mombasa in 2019 and 2022, and Limuru in
2022, among others).
Senior Manager, Human Resources,
SBM Bank (India) Limited Five years from now, I envisage SBM being at the forefront of
digitalisation, leveraging innovation to provide convenience
and efficiency through competitive financial solutions and
“My journey with SBM is beyond words. Working here has been
exceptional customer experience for a smarter tomorrow.
an emotion embedded in my persona. SBM provided me with
The role I will have played in the growth will be to provide
the requisite exposure and platform to develop my talent, test
accurate, timely reports that aid in decision-making while
my potential and build my capabilities. It is a place where I
sharing innovative ideas to ensure that the institution keeps up
celebrate my success and failure alike. I would like to thank
with changing times.”
the management and leadership team for nurturing me into
a well-rounded professional, capable of undertaking various
Human Resource assignments. Looking forward to every
challenging work ahead!”

SBM Holdings Ltd | Sustainability Report 2022 15

 Engaging with stakeholders
via multiple channels (cont’d)

Customers Renovation during 2022: Key expectations

8 Branches in Mauritius
• Ease of transacting across channels

~6Mn 3 Branches in India

• Innovative and tailor-made products
that meet their financial needs
customers
2 Branches in Kenya • Effective complaints management
Our delivery channels: • Privacy and data security

103 New branches launched

4,027 in 2022:
branches
and counters
POS Our responses
4 Branches in India
• Renovated branches and
174 continuous investment in
ATMs

Ashok Bhagnari
technology and innovation
• Dedicated Contact Centre and
complaints management desk
Client’s testimonial, SBM Bank (India) Limited
• Group is committed to protect the
Branches
confidentiality of client data “SBM Bank is a customer focussed bank and as a client, I
Digital channels am satisfied with the Bank’s responsive service. Ever since
Open days the inception of our relationship, I have experienced the
high standards of customer service by a passionate team of
Media
professionals. My journey with the bank has been memorable,
Mode of Social media considering multiple experiences where even multiple teams
engagement Campaigns stretched to accommodate my sense of urgency.”

Customer care and complaints

management
Customer Service Week
Giveaways
SBM Holdings Ltd | Sustainability Report 2022 16
Engaging with stakeholders
via multiple channels (cont’d)

Societies and Key expectations

Communities
• Community development
programmes in areas of need
• Vulnerable group empowerment
Amount disbursed in 2022 through the
• Socio-economic development
SBM Foundation for the funding of projects:

MUR 16.1Mn
Our responses
NGOs supported in 2022:
• Job creation
24 • Investment and involvement Soojanee Sokappadu
in CSR projects
Manager of Angel Special School and Welfare Association
• Sponsorships and partnerships

“I have always worked with children with special needs.

I opened the schools in Chemin Grenier and Rivière des
Anguilles in 2010 and 2017, respectively, for children aged five
CSR programmes to young adults aged 20, with an inclusive approach to special
education that includes not just learning, but also social and
Donations emotional needs. SBM has been by our side since 2015 to help
Mode of Sponsorships
us acquire special school equipment and recruit therapists for
engagement children with physical and intellectual disabilities, including
autism. Having SBM by our side is a blessing, a chance to help
Voluntary staff engagement
these kids achieve their potential..”

Media coverage

SBM Holdings Ltd | Sustainability Report 2022 17

Engaging with stakeholders
via multiple channels (cont’d) Shareholders, debt holders
and investor community

Suppliers and Governments and Shareholders: Market capitalisation:

18,309 MUR 13.6Bn

strategic partners regulators as at 31 December 2022 as at 31 December 2022

Mode of engagement: Mode of engagement: Mode of engagement:

• Expressions of interest • Onsite visits and compliance inspections • Interim results on a quarterly basis, Annual Report
• Procurement process • Filing of returns and reports with all regulators and Sustainability Report
• Contract management and renewal • Conferences and workshops • Annual Meeting
• Meetings • Regular meetings with regulators • Investor relations information portal on website
• Incident handling and escalation • Stock Exchange of Mauritius announcements
• Investor presentations and meetings
• Regular interactions with rating agencies
Key expectations Key expectations
• Compliance with relevant Key expectations
• Fair, reasonable contract terms and legislations and operating in a
ethical practices transparent manner • Sustainable and attractive return on investment
• Governance and ethical practices
• Timely payment and renewal of • Adherence to the systems, processes • Transparent reporting and communication
contract and technology installation edicts • Adoption of ESG practices
specified by them
Our responses Our responses
Our responses
• Ensure that the appropriate strategies
• Fair procurement practices • Engage constructively on new and decisions are being taken and adopted
policies and regulations affecting for long-term value creation
• Ensure timely payment for
Group operations • Management team aiming to increase
services
• Compliance with relevant rules profitability and improve key operational
and regulations performance metrics
• Installation of required regulatory
applications and systems within
stipulated timeframe

SBM Holdings Ltd | Sustainability Report 2022 18

 SBM
Foundation
Since its creation in 2016, the Corporate Social Responsibility
(CSR) function within SBM Group is mainly driven through the SBM
Foundation. The initiatives are targeted at needy and vulnerable
groups, with a focus on education and empowerment, providing
required tools, promoting employability, and combatting social ills
with a view to alleviating poverty.

Main purposes of SBM Foundation

Provision of
Alleviation of Education and advancement Education of school dropouts Protection of the
scholarships to bright and
poverty of vulnerable groups and/or low achievers environment
needy students

SBM Foundation scholarship schemes Funding of CSR projects requested

Our CSR initiatives are delivered through 3 main ways : for bright and needy students from NGO partners
SBM staff volunteering activities

SBM Holdings Ltd | Sustainability Report 2022 19

 SBM
Foundation (cont’d)
In 2022, the 24 NGOs whose projects have been funded by SBM Foundation
are as follows:

Poverty alleviation
A separate entity within the SBM Group, SBM Foundation is managed
independently through its Council which consists of 5 members. 1. Abaim
2. Mo’Zar Espace Artistic
3. Centre of Learning
Aligned to the Group Sustainability Agenda, the SBM Foundation has 4. Rodrigues Special
Needs Association
funded 24 NGOs for projects which fall under Pillar 3, thereby
contributing to the below SDGs: Social and gender equity Good health and well-being

5. Terre de Paix 15. Association des Parents pour la Réhabilitation

6. SOS Poverty d’infirmes moteurs
7. Falcon Citizen League 16. Centre pour l’Education et le Progrès des Enfants
8. M-Kids Association Handicapés
9. Societe des Femmes 17. Association of Disability Service Providers
Arc-en-Ciel
18. Angel Special School & Welfare Association

Education for 19. Association de Parents d’Enfants Inadaptés de

Education for
Poverty empowerment empowerment l’Ile Maurice
alleviation 20. Autisme Maurice
20% 10. Adolescent Non-Formal
14% Education Network 21. EDYCS Epilepsy Group
11. Noyau Social Cité 22. Joie de Vivre Universelle
Projects La Cure
funded by 23. Southern Handicapped Association
12. Mouvement pour le
Commitments Progrès de Roche Bois 24. Care-co Rodrigues Co.Ltd
under Pillar 3
13. Anges du Soleil
14. Mouvement Forces Vives

Good health Social and

and well-being gender equity
44% 22% For more information on the initiatives by SBM Foundation, please refer to
Section Key Initiatives and Achievements across our Pillars in this report.

SBM Holdings Ltd | Sustainability Report 2022 20

SBM
Academy

SBM has always believed in putting its people first. In line with the Group strategy to build capacity, the SBM
Academy was launched to instill a learning culture, to continuously train all employees of the Group so that
they are well equipped to face an ever-changing banking and finance environment with full confidence.
Hence, in our sustainability journey, the SBM Academy plays a critical role by creating awareness and
developing our people in line with our 13 Commitments. Below are some key trainings conducted during
the year 2022, across our operating entities:

Pillar 1 Pillar 2 Pillar 3 1990 a u r it iu s to set

ir s t bank in M
a s t h e f
SBM w ra in in g co llege
se t
up an in-hou
• Sustainable financing • Cyber security • Diversity, equity, and 2002 co u p l ed with
e nt re
inclusion training B M P a r k , a leisure c u t e r centre
• Climate change mitigation • Health & safety training S c o m p
in g fa c il it ie s and a
and adaptation • Culture building program train
hed
was establis
2018 wa s launch ed
a d e my
SBM Ac

For more information on initiatives of SBM Academy and training, please refer
to Section Key initiatives and achievements across our Pillars in this report.

SBM Holdings Ltd | Sustainability Report 2022 21

 Key initiatives and achievements
across our Pillars
Our key initiatives and achievements are detailed below.
2011 t h e Eco Lo an which
ched
SBMBM laun ortunity to individual
p s or
offers the op Es to equip their home
Pillar 1: Sustainable business M s.
clients and S hotovoltaic installation rent
p r
offices with till forms part of our cu
s
To promote greater social and environmental responsibility The product
Driven by our purpose of creating sustainable growth as well as recognising that offering.
investors and customers are becoming more conscious of ESG issues, the operating
entities of SBM have furthered their efforts to enhance our product suite. In Kenya,
the efforts of our subsidiary have been recognised and SBMBK was named as one of
the Top 25 Corporations and Organisations Leading in Social Responsibility in 2023.

Commitment 1 : Sustainable financing While SBM Bank (Kenya) Limited (SBMBK) and SBM
Bank (India) Limited (SBMBI) do not currently have
an ESG product, they both contribute to the Agenda
through their respective business models.

SBMBK has financed a KES 1.6 billion

Continuing its effort to help Mauritius transition to (approximately USD 15 million) project for
a low-carbon economy, SBM Bank (Mauritius) Ltd
Bboxx to provide affordable solar home
(SBMBM) launched 2 products in 2022:
systems for approximately 470,000 Kenyans.
Eco Auto Lease, crafted to meet the needs
of individuals and SMEs wishing to buy a SBMBI is actively participating in the Priority
hybrid or an electric vehicle Sector Lending (PSL), a lending requirement
administered by the Reserve Bank of India
100% Capital-Protected Structured (RBI) to support sectors of development.
Product linked to BNP Paribas World The focus of the bank is largely on the
Climate Care RC8 AR Index aimed at agriculture sector, followed by other sectors
High-Net-Worth Individuals which are employment intensive.

SBM Holdings Ltd | Sustainability Report 2022 22

 Key initiatives and achievements
across our Pillars (cont’d)

Pillar 1: Sustainable business (cont’d)

Commitment 2 : Sustainable consumption and production

Our SBM subsidiaries engaged in a number of initiatives To encourage savings since a very young
to promote a sustainable lifestyle and to make banking
age in Mauritius, the eligibility criteria of
more accessible and convenient.
the SBM Amigos offering were revised to
give the opportunity to a higher number of
accountholders to obtain the beautifully
SBMBI has increased its physical branch
crafted porcelain SBM Amigos Money Box.
network by adding 4 new branches in 2022
to remain strategically located. 3 of the
branches are in Ahmedabad, Pune, and
Chandigarh respectively; being business hubs
and centres for industrial activity and 1 is in
Abitghar, which is an unbanked rural centre.
SBMBI strengthened its Micro ATMs network On the other hand, SBMBM pursued its
across India, now above 621,000, boosting renovation initiative to provide customers a
financial inclusion. more conducive experience, with 8 branches
SBMBM added 4 Intelligent ATMs to its renovated during the year.
network, bringing it to a total of 35 as at 31
December 2022.

SBM Holdings Ltd | Sustainability Report 2022 23

Key initiatives and achievements
across our Pillars (cont’d)

Pillar 1: Sustainable business (cont’d)

Additionally, to increase its financing
of Micro Small and Medium Enterprises
(MSMEs) and offer sustainable finance
to businesses that focus on clean energy,
Commitment 3 : Entrepreneurship cleaner production, green services, and
climate-smart agriculture and natural
resource management, SBMBK sealed a
risk-sharing agreement with the African
SBM, on top of providing targeted financial solutions, also Guarantee Fund (AGF) amounting to
empowers entrepreneurs to increase the scale of their business USD 10 million in October 2022.
through the dedicated teams in our subsidiaries.

SBMBK, in collaboration with its local In Mauritius, 3 Open Days for SMEs were held to showcase Nadeem Abdool
partners, organised 46 workshops along SME-specific solutions and attract new customers in Owner of Nadeem HairXPreso - Rose Hill
the whole year of 2022 to support Small this segment with revamped propositions. The bank also
and Medium Enterprises (SMEs), out of sponsored “Semaine de L’Industrie Locale”, an initiative Nadeem HairXPreso and SBM – It’s an out of the
ordinary story.
whom approximately 3,000 were women- of the Ministry of Industrial Development, SMEs and
led entrepreneurs. The bank also organised Cooperatives. “My relationship with SBM Bank (Mauritius) Ltd is a unique
one. Even though I was not a client there, I opted for
a POP-UP market to create an opportunity SBM’s loan facilities. My dad was a hairdresser in Camp
for women-owned businesses to gain In India, an MSME proposition and a dedicated team have Fouquereaux, but I have been running my own salon in Rose
visibility, network, and generate sales. been established to cater for the growing MSME segment, Hill for the last 23 years. SBM’s loan has allowed me to
extend and modernise my salon, but what I like most is their
which accounts for 29% of the country’s GDP over the availability and amiability. They have really made things easier
Financial literacy: Capacity building course of 2022. To ease the MSMEs, a Rupay Credit Card for me.”
30%
initiative by SBMBK was launched in association with the National Payments
65% Corporation of India (NPCI). The MSME card allows a 50-
MSMEs across sectors
MSMEs from targeted sectors day interest free credit period for MSME borrowers on their
5%
Women-led SMEs business spending and is enabled with digital payment
features. SBM Holdings Ltd | Sustainability Report 2022 24
Key initiatives and achievements
across our Pillars (cont’d)

Pillar 1: Sustainable business (cont’d)

Commitment 4 : Climate change mitigation and adaptation

The Bank of Mauritius and the Central Bank of Kenya have issued guidelines on
Climate-related and Environmental Financial Risk Management in the year 2022.
SBMBM has reviewed and aligned the existing Environmental and Social Risk
Policy to reflect the updates and amendments. To allow the bank to implement
the guideline fully and develop an internal framework for climate-related,
environmental, and social risk, SBMBM is in the process of onboarding a consultant.
Similarly, SBMBK is progressing on the implementation of a climate risk policy.
Apart from fundamentally improving our risk policies to adapt to the changes in the
regulatory framework, our entities have engaged in activities to create awareness
on climate change.

70 staffs of Banque SBM Madagascar (BSBMM) have planted 1,000 trees as part
of their endeavours to manage and mitigate climate related risk.
200 employees of SBMBK were enrolled in a training relating to climate change
mitigation and adaptation.

SBM Holdings Ltd | Sustainability Report 2022 25

Key initiatives and achievements
across our Pillars (cont’d)

Commitment 6 : Ethical and compliant business practices

Pillar 2: Responsible organisation
To conduct our activities with integrity
The Group views responsible behaviour as a fundamental condition to secure the trust We are committed to safeguarding the information clients have shared with
of its stakeholders. We have built a strong ethical culture over the years by putting us, protecting all forms of data, information, and assets, and only using
into place policies and procedures and complying with relevant regulations and codes them in an ethical way. We have policies and guidelines in place in all the
of conduct. operating entities. Ongoing and regular communications are also issued
to ensure that all staffs are fully aware and adhere to the guidelines in
place. Mandatory trainings were held across entities to ensure ethical and
compliant business practices such as anti-money laundering, sanctions, data
Commitment 5 : Corporate governance protection and security. Cyber security awareness training programmes were
also held to equip employees to be the best first line of defence against any
attack or breach. Total training hours were as follows:

Mauritius India Kenya

Our policies and guidelines demonstrate that good Compliance 13,558 1,294 2,460
governance is ingrained in the jurisdictions where Cyber security 1,121 408 120
we conduct business. In this sense, to ensure proper
oversight on operations, the Group has embarked on an
Campaigns were also held in Mauritius and India so that customers are
Enterprise-Wide Risk Management Framework project. 1997 l is te d co m p any in regularly educated on potential scams and how to protect themselves
first
Also, with the objective of continually improving Board SBM was the troduce international , against potential attacks.
in ce
Mauritius to in corporate governan s
effectiveness, the SBM Academy enrolled the Directors es iu
best practic ce of the Bank of Maurit ued
n s
of SBMH and its subsidiaries on trainings relating to well in adva orporate governance is e of
c d
corporate governance, compliance and ESG amongst guideline on he enactment of the co
t For more information on Commitments 5 and 6, please refer
others which culminated in a total of 577 hours. in 2004, and ernance in 2004.
v
corporate go to the Corporate Governance and Risk Management Reports
of the Annual Report 2022.

SBM Holdings Ltd | Sustainability Report 2022 26

Key initiatives and achievements
across our Pillars (cont’d)

Pillar 2: Responsible organisation (cont’d) 2002 entre coupled with In 2021, in line with the Group’s commitment
leisure c e,
SBM Park, a ies and a computer centr ie, to develop a diverse, talented and highly
it ig
training facil d during the year at La V skilled workforce that will support our
e
was complet leisure centre was mainly organisation, SBM Academy launched the
is
Curepipe. Th r the staff, their families ts SBM Talent Finder programme. This is a
fo r
constructed s for recreational and spo 12-month tailor-made programme which
Commitment 7 : Employee well-being and talent management r
and custome as a first in Mauritius. includes in-house and external training
w
activities. It (both technical and soft skills) across various
departments. In 2022, from the first batch,
SBMBM onboarded 12 Young Graduates
who enrolled and successfully completed
their training in permanent positions within
Our employees’ well-being is of paramount importance to us. The Group different departments as frontliners.
aims to provide a positive employee experience characterised by trust,
respect, and recognitions. Hence, strong emphasis is placed on effective
communications, teamwork, and a positive workplace culture.

In fact, to enhance staff engagement and drive common behaviour amongst all
staffs SBMBK kicked off the internal culture identity “ASP2IRE”.

A S P P I R E
As one Share People Purpose Innovate Respect Empower
team information centric driven

Workshops are held internally for regular Additionally, employee engagement initiatives
As part of its recognition programme, SBMBI has introduced new benefits for its dialogue around strategic as well as have been instrumental in creating a strong
operational matters than affect the connect amongst our employees across the
staff. This includes staff loans at preferential rates, car lease and company leased
sustainable development of the organisation. Group and were targeted towards physical,
accommodation for staff in specific grades. This further enhances the engagement emotional, and social well-being. For instance,
In the same vein, reflecting our philosophy, SBMBM was ranked 5th on the list of Top and endorsement of our staff members to in Mauritius, the staff End of Year party was
10 Employer Brands in Mauritius at the Brand Magic Summit 2022. This Summit, endeavours undertaken. held in December 2022 after two years of
organised by Mind Initiatives, acknowledges the goodwill of prominent Mauritian pandemic-related restrictions.
brands based on an independent survey conducted by the local bureau of the
Kantar Group.
SBM Holdings Ltd | Sustainability Report 2022 27
Key initiatives and achievements
across our Pillars (cont’d)
Employee capacity building

Pillar 2: Responsible organisation (cont’d)

Total number Total
of training hours training cost
75,391 Approx.
MUR 15,500,000
Commitment 7 : Employee well-being and talent management (cont’d)

Training spent per geography

Employee profile India

12%

Employee Turnover
Kenya

Total number of employees

3,115
SBMBM
SBMBK
9%
15%
29% Mauritius
58% Kovan Parianen
SBMBI 24%
BSBMM 14% Madagascar
Talent Finder graduate, SBM Bank (Mauritius) Ltd
NBFC 23% 1% “I enrolled in the Talent Finder programme two years ago and
I am currently working in the Private Banking department. In
fact, I have always looked up to my father who had a 40 year-
long career in the local banking industry. Hence, pursuing an
Length of service at our operating entities Type of training undergraduate degree in Economics and Finance was a natural
100% 1% 100% choice for me. Although I was quite hesitant to work in a
7% 4% 7% 3%
90%
26% 16%
90%
24%
14%
bank itself, I am very proud to be working in such a reputable
80% 27% 80%
< 2 years 15% institution. At the Talent Finder graduation ceremony, I gave a
70% 52% 70% Internal
60%
38% 74% 2-5 years 60% 77% little speech in which I quoted one of my personal heroes, Sir
31% 91%
50% Outsourced
79%
50% Alex Ferguson: “Hard work beats talent when talent doesn’t
40%
6-15 years 40% 76%
30% 19% 25%
71% Mix work hard”. I repeat it to myself every morning before coming
30%
20%
35% above 15 years 20% to work...”
10% 17% 19% 20% 10% 23%
0% 9%
0%

SBMBM SBMBK SBMBI BSBMM NBFC SBMBM SBMBK SBMBI BSBMM

SBM Holdings Ltd | Sustainability Report 2022 28

 Key initiatives and achievements Our paperless initiatives
across our Pillars (cont’d) Going paperless is one of the areas where all
entities have been putting efforts. Below we share a
snapshot of those initiatives in 2022.
SBMBI has discontinued the printing of deal tickets
which has resulted in significant reduction of paper
Pillar 2: Responsible organisation (cont’d) consumption. Video KYC not only provides a quick
and easy way to open accounts online, but also
allows the customer to submit soft copy of their
KYC proof without travelling to the branches. In the
same vein, the bank is strengthening capabilities to
implement a centralised document management
Commitment 8 : Environmental consciousness system that would allow digital storage of
documents in a secure manner.
SBMBM continued its effort to encourage customers
2020 d a f irs t - of -its kind to move from paper to digital statements through its
urate asy
To ensure that our operations consume energy efficiently, SBM SBMBI inaug nch at Palghar, India. E r campaigns on E-statements. An increase of 31% of
a e
entities across geographies have implemented initiatives such as container br maintain, the in-contain tal E-statements subscriptions was noted for the year
d en
increasing LED lights in branches. In fact, as part of its renovation to install an ffers minimal environm 2022 across the Group.
o
programme, SBMBM has not only used LED lights in newly branch also In SBMBK, the Paper-Lite initiative, led by a
renovated spaces, but also installed motion sensors to reduce footprint. cross-functional team, was executed for Over-
energy wastage. Also, the new escalator in the main branch is the-Counter transactions across all branches. The
equipped with motion detector, with smart stop. In effect, a new benefit was a reduction by 28% of actual slips used
Building Management System, equipped with smart metering which, in turn, yielded a cost savings of 61% on
system will be implemented in 2023. This will further enhance data stationery usage. In addition, the action of reducing
capture and, therefore support future initiatives. Similarly, in India the number of slips across the 3 transactional
and Kenya, our subsidiaries are favouring the use of LED lights in types has considerably improved the customer Turn
their branches and office spaces. Around Time by as much as 40%, thus favourably
impacting overall customer experience.
Furthermore, to spread awareness, Another milestone for the SBM Group is our 2022
the World Environment Day Annual Report. Following the Practice Direction
was celebrated in Mauritius at issued by the Registrar of Companies, SBMH has
the FALCON Association, where pursued its paperless initiative by introducing an
staff members from various electronic version of the Annual Report, which can
departments of SBMBM visited be downloaded through a QR code. Besides, we
the agricultural farm and had have, since 2020, been publishing our Sustainability
Report separately on the SBM Website.
the opportunity to learn different
planting techniques.

SBM Holdings Ltd | Sustainability Report 2022 29

 Key initiatives and achievements
across our Pillars (cont’d) 1978 the growing demands rategy – a , t h e b a n k b rought
To satisfy e id e a a n d novel st f itted out
n in n ov a t iv ve r te d v a n
up a b r a n ch – a con areas without a
mobile b a n k
b a n k in g s e rvices in s e r v in g 15
to pr o v id e b e g a n
h e f irs t m o bile van o w e d b y a n other
branch. T in 1978, fo ll
h e n o r t h
Pillar 3: Inclusive communities villages in t
t h e e a s t in 1980.
for
To foster inclusion, diversity and equality
SBM has a long history of supporting the community. This philosophy is consistent across
the Group, focusing our efforts where we believe we can make a difference through
collaboration with partners and participation in activities falling under this Pillar of
our Agenda.

Commitment 9 : Poverty alleviation

In 2022, all of our operating entities were actively involved

with the community through charitable activities. For SBM Foundation
instance, BSBMM has partnered with Rotary Club Ivandry
for events held in December 2022, especially around the

4 14%
Christmas period. The Club has provided the bank with 700
superhero costumes which were then offered to vulnerable
children to share the joy and magic of Christmas. The bank NGOs supported Of total funding in 2022
has sponsored lunches, sweets and toys to all the children
present. Also, BSBMM organised 4 distinct events for the • Centre of Learning – Accompanying vulnerable
communities through a holistic approach geared
street children and their families where warm clothes, warm towards education, training and promoting
food, gifts and shoes were provided. non-academic activities

• Abaim – Saturday and Sunday care project aiming at

the overall development of children and young adults
and increased support to vulnerable families

SBM Holdings Ltd | Sustainability Report 2022 30

Key initiatives and achievements SBM also supports women-

across our Pillars (cont’d)

led enterprises by empowering
them through capacity building.
As part of its financial literacy
programme, SBMBK organised a
session for 15 vulnerable women
as part of the INUA DADA
community service initiative.
Pillar 3: Inclusive communities (cont’d) More importantly, 45 women
were supported through the
supplier diversity policy.

Commitment 10 : Social and gender equity SBM Foundation

At SBM, we promote gender equality. Under the Women on the

Move initiative launched in 2021, operating entities across the Group
5
NGOs supported
22%
Of total funding in 2022
led a number of initiatives. One example is an event organised by
SBMBI where a panel of women employees of the bank had a candid • Falcon Citizen League – Empowerment and advocacy of
poor and vulnerable women in agribusiness as a means to
discussion about their different personal and professional experiences mitigate poverty
with the oraganisation regarding their career. This allowed the
team to share their experiences around topics such as resuming a • Terre de Paix – Running of the Early Childhood Centre –
career after a break or pregnancy and balancing their personal and Cyril Dalais, Albion to provide a better educational
opportunity to these infants and children from vulnerable
professional lives and how SBMBI fosters the proper environment for groups as well as enabling their mothers in taking up
their comfort and professional growth through equal opportunities. employment, thus contributing to the economic
enhancement of the family
Other activities: The Credit Recovery Team of SBMBM in
Gender profile of employees across our operating entities: collaboration with SBM Foundation organised a lunch
in July 2022 for some 70 elderly persons at the
Meenatchee Home.

29%
37%
46% 44%
SBMBM SBMBK BSBMM 46% SBMBI NBFC
54% 54%
63% 56%
71%

Male Female

SBM Holdings Ltd | Sustainability Report 2022 31

Key initiatives and achievements
across our Pillars (cont’d)

Pillar 3: Inclusive communities (cont’d)

Commitment 11 : Education for empowerment

SBM Foundation
5
Education is a key enabler to eradicate poverty and since its early
• Adolescent Non-Formal Education Network (ANFEN) –
days, SBM has supported the community and its employees through Creating equal access for low academic achievers and
various initiatives. NGOs supported unemployed youth to technical training and sustainable
employability
Hence, SBM Group lays a lot of emphasis on educating the
youngsters. BSBMM has partnered with universities such as • Mouvement pour le Progrès de Roche Bois (MPRB) –
“Konekte Zeness, Nou Pou Avanse” project to encourage
Khevna Ramkissoon
20%
Institut de Management des Arts et Métiers (IMGAM) and the youth for community engagement to address societal Scholarship awardee in Mauritius
Institut National des Sciences Comptables et de L’Administration problems using Information Technology as a major
l’Administration d’Entreprises (INSCAE) to provide career guidance Of total funding in 2022 innovation tool
“After HSC at the Loreto Convent in Port Louis, I enrolled at
talks, conferences, and workshops to the students. The team has the University of Mauritius for a BSc (Hons) in International
also provided school materials to 50 vulnerable children and Other activities:
Business Management, despite a difficult family situation. My
The SBM Foundation has sponsored the reprinting of the 2nd Edition of the book
hearing aids and glasses to vulnerable children with disabilities. elder sister helped me apply for a scholarship from the SBM
“La Faune et la Flore de Rodrigues”. Through the sponsorship to Mauritius Wildlife
Foundation (MWF), 2,000 copies have been printed for educational purposes for school Foundation which funded my three years of study. I chose to
children in Rodrigues. Officials of the SBM Foundation participated in the launch of the work in offshore after my studies to gain experience. In fact,
book at Nature Reserve in Rodrigues. this is my very first job. But I’m starting an MBA in Financial
Services soon and, I’ll tell you in confidence, I’ll come back
to work for SBM where I made friends when I was on an
internship during the university holidays.”

SBM Holdings Ltd | Sustainability Report 2022 32

Key initiatives and achievements
across our Pillars (cont’d)

Pillar 3: Inclusive communities (cont’d)

Commitment 12 : Good health and well-being

Several awareness campaigns were held with staff and customers by entities across the Group around
nutrition and well-being, breast cancer, stress management amongst others. To encourage sports
amongst employees, fitness classes such as Zumba and Yoga were organised through sports and wellness
clubs at entity level. SBMBM participated in a number of sports events organised by the Fédération
Mauricienne des Sports Corporatifs (FMSC). Given that the FIFA World Cup was held in 2022, staff World
Cup Football Tournament for both ladies and men was held. The football pitch at SBM Park was renovated
accordingly.

Mauritius Finance Annual Sport Day:

Overall Champions Trophy

FMSC Football Shield Championship:

Winner

SBM Holdings Ltd | Sustainability Report 2022 33

Key initiatives and achievements
across our Pillars (cont’d) SBM Foundation

Pillar 3: Inclusive communities (cont’d) 10

NGOs supported
44%
Of total funding in 2022

Commitment 12 : Good health and well-being (cont’d) • CEPEH

Provision of paramedical services (Physiotherapy and
Psychologist) to disabled children and adolescents

• Autisme Maurice
A resource centre and specialised education units for
children and other persons with Autism in Mauritius

Other activities:
To promote good health and well-being in the Separately, the SBM Foundation continues to support
community, a number of events were held. For education through its various initiatives. For instance, there
instance, SBMBM sponsored some major sports was an active participation of SBM Foundation in the award
event held during the year, such as the 12th Edition ceremony for the beneficiaries who completed training
programmes of our existing NGO partner in Rodrigues -
of the Commission de la Jeunesse et des Sports de EDYCS Epilepsy in the presence of the Commissioner
l’Océan Indien (CJSOI) Games 2022 and the African of Health.
Senior Athletics Championship 2022. Additionally,
as part of its CSR, SBMBI sponsored 300 cataract
surgeries in Palghar for the underprivileged.

One of the most notable initiatives under this commitment was the
celebration of the Wellness Week across the Group in the week of 12
September 2022, led by the HR teams of all entities. During this week, tips,
ideas, and principles on how employees can revitalise both the personal
and professional lifestyles were shared. Several activities were planned to
embark staff members on a fulfilling wellness journey, ranging from fitness
sessions to awareness talks, as well as health screening activities and
laughter therapy sessions among others.

SBM Holdings Ltd | Sustainability Report 2022 34

Key initiatives and achievements
across our Pillars (cont’d)
2009 a u r it iu s ’ n ational
e a r m a r k e d four of M w it h staff and
SBM are celeb ra t e d
fest iv a l s w h ic h
in it ia t iv e s such as
ugh variou s
cust o m e r s t h ro
a r in g o f t ra ditional
ing up, sh
Pillar 3: Inclusive communities (cont’d) io n a l d r e s s o u r e n tities
tradit s. Today, a ll o f
swee t s a n d c a k e
to c e le b r at e our
te s p e c if ic festivals
celeb r a
a l h e r itage.
Commitment 13 : Cultural diversity and vibrancy c u l tu r

SBM Group operates in countries which are very rich in terms of cultural
diversity and we are proud to celebrate our cultural heritage and share the
experience with our employees, customers and the community.

SBMBM has been made Honorary Patron of the ‘Bank on Art’

campaign, which is an initiative of The Art Vault, an organisation
promoting fine arts and culture in Mauritius and internationally.
As the Honorary Patron of ‘Bank on Art’, SBMBM got the opportunity
to associate with credible partners of the region and to participate
in the advancement of artistic, environmental and social causes.

In Kenya, during the launch of the Westlands branch, artists from

Mukuru Art Collective were invited to display their pieces at the
opening ceremony.

One major initiative organised by SBMBK on an annual basis is the

Customer Service (CS) Week, an international celebration of the
importance of service and of the people who make it happen. The CS The drawings of the winners of SBMBM’s Amigos Drawing and Painting
Week theme of SBMBK in 2022 was aligned to the global theme of competition, have been showcased in the calendars distributed to staff
Celebrating Service, through Sustaining Customer Inclusion. and customers, promoting the arts created by the children.

SBM Holdings Ltd | Sustainability Report 2022 35

 SBM Bank (India) Limited:
Pragatishil Palghar
Growth to SBM means progress that is inclusive, meaningful Commitment 9
and sustainable. In this vein, our subsidiary in India has Training of 137 tribal students, thus equipping them with
collaborated with Govardhan Eco Village (GEV), a project necessary skills to attain employment and improve their
of the International Society for Krishna Consciousness, standards of living.
and the Govardhan Skill Development Centre to bring
about meaningful change in Palghar. The objective is Commitment 10
to bring a socio-economic upliftment of the Palghar Providing patronage to a Self-Help Group for Tribal
district in Maharashtra and its total population Women, Khusi Nagli, towards the building of a
of over 615,000 residents. The Project was sustainable livelihood model.
named Pragatishil Palghar which translates to
“Progressive Palghar”. Commitment 11
Setting up a computer laboratory which includes
In fact, GEV seeks to target intergenerational purchase of necessary furniture and fixtures,
cycle of poverty which finds its roots in the electrical equipment and computer and IT
inability of sustainable livelihood at grassroot hardware, thereby targeting the addition of 400
level, non-promotion of skilling and lack of skilled labour to the workforce annually.
structured schemes for rural entrepreneurship.
Here we share some of the projects funded Inauguration of the Vocational Training Centre
by SBMBI, all within our Group Sustainability within GEV Skill Development Centre.
Agenda commitments, specifically under Pillar 3.

SBM Holdings Ltd | Sustainability Report 2022 36

Concluding
remarks The SBM Group has a long-standing track record of contributing towards social
advancement and driving financial innovation in Mauritius as well as in the overseas
countries where we operate. As we look to the future, the Group is embarking
on a programme of 50 sustainable initiatives encompassing the 3 Pillars and 13
Commitments of the Group’s Sustainability Agenda. The progress on those initiatives
will be reported in our future Sustainability Reports in a transparent manner, in line
with international best practices and reporting standards.
As a responsible and caring corporate citizen, we are committed to our mission, which
is: To achieve strong and sustainable returns for our shareholders, meet the relevant
needs of our stakeholders and support the development of the community at large.
With the Sustainability Agenda at the core of the Group’s Strategy, SBM will continue
its efforts to build a sustainable future for its stakeholders and future generations.

3 13 50
Pillars Commitments Initiatives

SBM Holdings Ltd | Sustainability Report 2022 37

SBM Tower,
SBM Tower,
1, Queen
1, Queen
Elizabeth
Elizabeth
II Avenue,
II Avenue,
Port Louis,
Port Republic
Louis, Republic
of Mauritius
of Mauritius
T : (230)
T :202
(230)
1111
202 1111
F : (230)
F :202
(230)
1234
202 1234
E : sbm@sbmgroup.mu www.sbmgroup.mu
E : sbm@sbmgroup.mu www.sbmgroup.mu