IBK Industrial Bank wins Sustainable Finance Award from Global Finance

First Domestic Bank Sector Sustainable Finance
Simultaneous Awards in Global, Asia, and Korea Categories

On April 30th, at the Global Finance-hosted Sustainable Finance Awards held at the Gherkin in London, UK, Kim Hyung-il, Executive Director of IBK Industrial Bank (left), and Joseph Giarraputo, Founder of Global Finance (right), are posing for a commemorative photo.

IBK Industrial Bank (President Kim Sung-tae) announced on the 2nd that it attended the Sustainable Finance Awards hosted by Global Finance held at the Gherkin in London, UK, on April 30 (local time), and received awards in all categories of Global, Asia, and South Korea, gaining international recognition for its outstanding ESG capabilities.

This awards ceremony was held to present the Sustainable Finance Awards received from the global financial magazine Global Finance in February this year. IBK Industrial Bank won ▲Best Bank in Sustainable Finance in South Korea ▲Best Bank in Social Bonds in Asia ▲Best Bank in ESG-related Loans globally and in Asia.

The ESG-related loan award was particularly significant as IBK Industrial Bank became the first domestic financial institution to be selected as the ‘Best Bank in ESG-related Loans globally,’ winning a category previously dominated by foreign institutions.

In an exclusive interview with Global Finance officials, Kim Hyung-il, Executive Director of IBK Industrial Bank, explained the secret to being selected as the ‘Best Bank in ESG-related Loans globally’ by citing the bank’s first-ever sustainable-linked loan product in the domestic banking sector, the ‘ESG Management Success Support Loan.’ He stated, "What differentiates IBK is not only simple financial support but also non-financial services such as free customized management diagnosis to help SMEs achieve practical ESG management, and the objective verification of ESG performance and goals through an agreement with the Korea Chamber of Commerce and Industry."

President Kim Sung-tae said in a video message, "It seems that the expansion of innovative products and non-financial services from the perspective of SMEs, such as green loan supply, gender bond issuance, and free consulting, leveraging ESG management support, was highly evaluated." He added, "We will continue to realize valuable finance that can bring desirable impacts to customers and society as a corporate citizen in the global community."