Sustainability Pages

Taxonomy

Following the completion of the Green Home Programme, the Bank launched market-based products (available from 1 December 2022) to finance residential customers, which provide interest rate discounts for the purchase or construction of real property with an energy rating of at least “BB” and an annual primary energy consumption of less than 80 kWh/m2/year. During 2023, the Bank also announced a promotion for this product, whereby the Bank will plant a tree for every home loan with green interest rate subsidy product accepted in full during the promotional period, i.e. from 01.06.2023 to 31.07.2023.

Moreover, the Bank also enforced environmental sustainability criteria in its customer acquisition activities. If a person became a customer through the customer referral programme, the Bank planted a tree for every new customer that came in as a referral. The programme ran until 31 March 2023.

In 2023, the range of products supporting environmental sustainability was further expanded.  In both housing loans and personal loans, products were launched to finance new loan purposes that support residential energy efficiency investments and, through this, environmental considerations.

Since the Bank places a strong emphasis on digital solutions in the area of small business acquisition, the online business account quotation platform, which was launched in 2022, was followed by the launch of an online small business account-opening system at the end of 2023. In lending, the bank again this year helped businesses with financing primarily through the KAVOSZ Széchenyi Card Programme (Széchenyi Card Programme Max+), in addition to its own loan products. 

In 2023, there was also a strong focus on card acceptance services, with the introduction of innovative solutions such as the CIB softPOS online application service.

Environmental sustainability has an increasingly important role in the financing of the corporate business line, and, simultaneously with this, restrictions are implemented in the coal, unconventional oil and gas extraction sector.  The Bank's loan portfolio has seen an increasing share of loans provided for renewable energy production (photovoltaic solar power plants and biogas plants), loans supporting transition and energy investment loans. 

The production of renewable energy and the transition to circular economy is promoted by the Bank's owner, Intesa Sanpaolo, through its subsidiary banks in the framework of the Circular Economy Plafond, in which CIB Bank is also participating.

In addition, EXIMBANK’s Green refinancing programme is also available at CIB Bank. 

Sales have started for the S-Loan product range, launched at the end of last year, which provides funding for sustainability purposes at a discounted rate for SMEs and large corporates. 

Sustainability financing is increasingly becoming a mainstream part of operations. It is important to ensure that transactions are identifiable from a sustainability perspective, as well as the legal guidelines under which the Bank categorises transactions into compliance classes. A complete solution – compliant with Regulation (EU) 2020/852 – has been developed and is currently being implemented.  A financing solution to support renewable energy production and the transition to circular economy, as well as other social, corporate governance and environmental financing solutions, is already available in the Bank. This rewards transactions in this category with a pricing discount.  In addition to the above, the Bank is looking for opportunities to provide financing from the green credit line provided by a refinancer, such as the EXIMBANK Green Refinancing Programme available at CIB Bank. As the framework conditions for the financing solutions available under the above schemes are slightly different, the Bank can cater for more customer needs.

Full compliance with the Taxonomy is the highest of the multi-level sustainability objectives. This legislation imposes the most conditions on the financed investments. So far, the number of transactions meeting the legal requirements has been minimal. 

The Intesa Sanpaolo banking group is committed to sustainable and responsible investment. Eurizon Capital SGR S.p.A., the Group's asset management arm, was the first to establish an ethical investment fund in Italy in 1996 and in 2017 integrated ESG guidelines into its investment decision-making processes. In 2021, Eurizon adopted a Sustainability Policy in line with the SFDR (EU Regulation on Sustainability Disclosures) and more than 54% of its products are in compliance with Articles 8 and 9 of the SFDR. 

Intesa Sanpaolo and Eurizon Asset Management Hungary Zrt., part of the Eurizon Group, have made the implementation of ESG (Environmental, Social and Governance) and SRI (Socially Responsible Investment) aspects a priority in the design of new products, in line with the relevant EU regulations and the expectations of the Eurizon Capital SgR Group, and have therefore taken these aspects into account in the development of new products, which now promote environmental and social features, in line with the requirements of the SFDR 8. CIB Bank Zrt. also offers its clients investment funds issued in HUF and covered by Articles 8 and 9 of the SFDR: 

• Subfund of the Eurizon ESG Talentum Total Return Funds
• Subfund of the Eurizon Euro ESG Talentum Total Return Funds

The detailed data tables are annexed at the end of the Bank's Business and Management Report.