Business Model

Materiality and Value Creation

As explained in the section Report Boundary and Materiality, the Bank has determined certain aspects as material to the Bank and its stakeholders through an identification process.

Material Aspects

We regard an aspect to be material if it substantively affects the Bank’s ability to create value over the short, medium and long term. Relevance and significance of an aspect determine its materiality as high, medium or low, with significance being decided based on both the magnitude of the impact as well as probability of occurrence.

An aspect can be important from two different perspectives, namely, the Bank and its stakeholders. This is depicted through a two-dimensional diagram, known as the materiality matrix. The Bank has thus identified and classified the economic, social and environmental aspects as being important along these two dimensions, which are represented in the materiality matrix shown below.

Materiality Matrix

Rating of Material Aspects


No.	Aspect	GRI Indicator	Importance to the Bank	Importance to stakeholders

1	Economic performance	G4-EC1	High	High
2	Market presence	G4-EC6	High	High
3	Indirect economic impact	G4-EC7	Medium	Medium
4	Energy	G4-EN3	Medium	Medium
5	GHG emissions	G4-EN15 G4-EN16 G4-EN17	Medium	Medium
6	Employment	G4-LA1 G4-LA2 G4-LA3	High	High
7	Labour management relations	G4-LA4	High	High
8	Occupational health and safety	G4-LA6	Medium	Medium
9	Training and education	G4-LA9 G4-LA10 G4-LA11	High	High
10	Diversity and equal opportunity	G4-LA12	High	High
11	Equal remuneration for women and men	G4-LA13	High	High
12	Labour practices grievance mechanisms	G4-LA16	High	High
13	Non-discrimination	G4-HR3	High	High
14	Freedom of association and collective bargaining	G4-HR4	Medium	Medium
15	Human rights grievance mechanisms	G4-HR12	Medium	Medium
16	Local communities	G4-SO1	Medium	High
17	Anti corruption	G4-SO3	High	Medium
18	Compliance	G4-SO8	Medium	Low
19	Product and service labelling	G4-PR3 G4-PR5	High	Medium
20	Marketing communications	G4-PR7	High	High
21	Customer privacy	G4-PR8	High	High