Sustainable banking business: The example of Banca Intesa A.D. Beograd

Sustainable business has become a global phenomenon in recent decades. An increasing number of banks and financial institutions are implementing the concept of social responsibility in their operations. Banks in the domestic banking market lag behind international banking institutions in applying the concept of sustainability and realizing economic, environmental and social goals. Accordingly, this paper deals with analyzing of the concept of sustainable business in the banking sector with special reference to the practice of Banca Intesa a.d. Belgrade. The goal is to determine to what extent the realization of environmental and social goals through socially responsible, sustainable business contributes to the realization of economic goals. The activities of Banca Intesa in the field of environmental protection, social responsibility and management (ESG), as well as the effects of these activities on the bank's reputation and competitiveness, are presented. The research is based on the analysis of basic indicators of sustainability, in regard to the economic value realized by the bank for the observed period. Special emphasis is placed on green financial products, credit policy and social inclusion. The paper concludes that sustainable business is not only ethics but also a long-term competitiveness strategy.