BB&T Highlights Corporate Social Responsibility Commitments in New Report
Bank advances mission by uniting its corporate values with social impact
Jul 9, 2019
WINSTON-SALEM, N.C., July 9, 2019 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) today released its fourth annual Corporate Social Responsibility (CSR) Report, detailing its latest community and sustainability efforts to fulfill its mission to make the world a better place to live. The report covers several key themes including multicultural banking, responsible banking practices and policies, cybersecurity, diversity and inclusion, charitable giving, environmental sustainability and responsible growth.
"Our mission is bold, but it's one I'm proud to know all our associates wholeheartedly accept and strive to deliver on every day," said BB&T Chairman and Chief Executive Officer Kelly S. King. "Our commitment to service extends well beyond the financial solutions we offer, and it's our honor to continually give back in a meaningful way. This report demonstrates some of our efforts and accomplishments, and highlights what we're planning to do to build a brighter future for our associates, clients, shareholders and communities."
The online CSR Report outlines notable achievements in 2018 including:
- Affordable Housing: BB&T provided affordable housing financing of more than $623 million, which was a component of its total community development lending of more than $1.7 billion.
- Financial Education: Through its "Bank on Your Success" program, BB&T associates provided more than 2,300 free financial education sessions during 2018 and reached more than 45,000 individuals. Based on the success of the program, the bank piloted a new module, "Growing Your Business," with a focus on small business. The pilot resulted in 110 sessions supporting 1,100 small business owners.
- Building Future Leaders: The BB&T Leadership Institute funded and hosted the Emerging Leaders Certification Program, a six-hour leadership program held at more than 55 schools and certified more than 3,000 students.
- Community Service: Associates completed more than 1,200 projects and provide more than 84,000 volunteer hours through the BB&T Lighthouse Project, a nationwide community-service program designed to exemplify BB&T's mission and serve as a beacon of light to neighbors in need.
- Charitable Giving: BB&T and the BB&T Charitable Fund granted more than $34 million to support communities and charitable organization across its footprint. These grants included $2 million to fund relief efforts in the aftermath of Hurricanes Florence and Michael.
- Diversity and Inclusion: In 2018, more than 24,000 associates completed BB&T's "Valuing Diversity" class, and more than 700 leaders completed the "Leading Diversity" class.
- Environmental Sustainability: BB&T invested more than $50 million across 1,250 of its facilities to decrease energy and water consumption, and set specific five-year targets to reduce electricity consumption by 25 percent and trim water use by 10 percent.
BB&T is one of the largest financial services holding companies in the U.S. with $227.7 billion in assets and market capitalization of approximately $35.6 billion, as of March 31, 2019. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates more than 1,800 financial centers in 15 states and Washington, D.C. and is recognized consistently for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.
SOURCE BB&T Corporation
For further information: David White, Vice President, BB&T Corporate Communications, Contact via email: firstname.lastname@example.org
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