Financial institutions have an important role to play in the transition to sustainability, not only through their own operations but also through the loans and investment opportunities they provide to households and businesses to drive the low-carbon economy. K&H’s Sustainability Month has also raised awareness of the importance of protecting the environment and is contributing to an innovative future with digital financial solutions, according to the K&H Group Sustainability Report 2022.
Sustainability and especially climate objectives are an integral part of K&H’s strategy.
The K&H Group has made significant progress in reducing its carbon footprint in its own operations and has developed innovative financial products that enable customers to operate and live a climate-resilient lifestyle. In line with the Hungarian National Bank’s green capital requirement discount scheme, K&H was the first in the market to introduce a green mortgage loan that is available not only for new but also for second-hand homes. The uptake of electric cars is supported by K&H green car leasing, which, like hybrid cars, can be covered by favourable compulsory vehicle insurance. In addition, responsible investments are becoming increasingly popular: 11.2 percent of all capital invested at the financial institution is already contributing to a more sustainable future.
Last year, K&H also dedicated a special month to sustainability: in September, it turned off the exterior facade lights in 200 of its buildings, introduced energy-saving measures and launched the K&H Cooling Groves programme, under which a total of 555 trees and 1,110 shrubs will be planted in 100 educational institutions across the country by the end of May 2023.
Digitally active customers
Eco-friendly online banking is becoming increasingly popular among K&H customers: 88% of them are digitally active and make 3 million contactless payments every month. Last year, half of all bank account openings and 100 percent of personal loan applications were made online. And the latest innovative solution, a personal digital assistant called Kate, provided information to more than 154,000 customers last year.
The K&H Group Sustainability Report 2022 can be found here.