KARACHI: HBL, a leading financial institution, reaffirmed its commitment to sustainable development and social impact. Beyond traditional banking, HBL focuses on addressing climate change, promoting financial inclusion and alleviating poverty. The bank has set an ambitious target of achieving Net Zero emissions by 2030, read a statement released on Thursday.
In 2023, HBL made significant strides towards this goal, including solarising 204 of its branches and 31 offsite ATMs and investing Rs36 billion in renewable energy projects.
HBL Chairperson Sultan Ali Allana mentioned the bank’s long-standing commitment to sustainable development and enriching the lives of its customers. He highlighted the bank’s focus on financial literacy and inclusion, particularly through its SME, Agri, and Microfinance divisions, which have extended banking services to over 36 million people previously considered unbankable.
In 2023, the HBL Board increased the bank’s contribution to the HBL Foundation from 1.0 per cent to 1.5 per cent of profit after tax, enabling expanded programs in healthcare, education and community development.
The HBL Foundation has surpassed Rs3 billion in direct contributions, impacting nearly 10 million lives. The Foundation allocated funds for healthcare, education and vocational training programmes, while also playing a crucial role in disaster response and community welfare.
HBL’s Impact & Sustainability Report 2023 details the bank’s contributions across economic, social and environmental dimensions, aligning with the United Nations’ Sustainable Development Goals and Global Reporting Initiative standards. HBL also invested Rs82 million in educational infrastructure projects, impacting nearly 18,000 students, and supported skill development initiatives benefiting 11,500 individuals.
The report highlights the launch of HBL Zarai Services Limited, a subsidiary dedicated to agricultural extension services, and the disbursement of over Rs100 billion to 345,000 farmers. HBL served 37 million customers globally, including five million women, and disbursed Rs 1.5 billion to 600 women entrepreneurs. SME lending exceeded Rs100 billion, with a focus on small businesses, women entrepreneurs and freelancers.