(Alliance News) - BFF Bank Spa on Monday announced the promotion to AA from BBB in the ESG rating given to the group by MSCI, a leading international ESG rating company that analyzes about three thousand companies globally.

MSCI places BFF in the highest score range compared to global peers for governance issues, "highlighting as strengths the majority of the board of directors made up of independent directors and the division of roles between chairman and CEO in favor of strong oversight over management," the bank explained in a note.

The rating also recognizes BFF's value of talent management initiatives, with particular reference to the development of internal surveys and training initiatives aimed at staff.

Massimiliano Belingheri, CEO of BFF Banking Group, commented, "The results that MCSI's ESG rating recognizes, and which place us in the highest score range among global leaders, are a source of satisfaction for us and further encouragement to continue on our path of sustainable growth."

BFF Bank trades in the red by 0.5 percent at EUR8.74 per share.

By Chiara Bruschi, Alliance News reporter

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