(Alliance News) - BFF Bank Spa announced Tuesday that Standard Ethics Ltd has raised the bank's corporate standard ethics rating to 'E+' from 'E,' with a Positive outlook.

Standard Ethics highlighted the path taken by the bank in progressively aligning its sustainability governance tools with UN, OECD and EU guidance. In addition, it is emphasized that this alignment has taken place in a formalized and structural process, in the areas related to diversity and inclusion, cybersecurity, malfeasance risk and tax issues.

"Since 2019, BFF's ESG reporting has been in line with industry best practices, and an ESG committee has been in place since July 2022. The bank's commitment is also tangible in other areas such as, environmental policies and ESG financial issues, which are currently being implemented through targeted policies or specific measures," said BFF.

"The recognition highlights the strategic value that sustainability and excellent governance practices hold for the bank and its stakeholders."

BFF Bank's stock is down 0.2 percent at EUR9.86 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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