In line with the requirements of the Swiss Code of obligations, all listed and/or regulated entities with 500 or more employees and at least CHF 20 mln in total assets or more than CHF 40 mln turnover must publicly report on non-financial matters from the 2023 financial year onwards.
As at December 31, 2023, EFG Bank European Financial Group SA (the Bank) held a 45% participation in EFG International AG, the holding company of an international private banking and asset management group headquartered in Zurich, which is listed on SIX Swiss Exchange and supervised on a consolidated basis by the FINMA.
The Bank does not reach the required level for reporting on non-financial matters at the individual level. The EFG International AG group represents more than 99% of the combined Bank and EFG International group in respect of the measurements mentioned above. Therefore, the Sustainability Report 2023 of the EFG International AG group, which has been prepared in accordance with GRI Standards, signed and approved by its Board of Directors on February 20, 2024 and published, has also been endorsed by the Board of Directors of the Bank on April 25, 2024 and signed.
Independent limited assurance was provided by PricewaterhouseCoopers AG for the current reporting year 2023 on selected indicators in the Sustainability Report 2023 of EFG International AG. Finally, the Board of EFG International AG also acknowledged the outcome of the independent Limited Negative Assurance performed on its 2023 internal review regarding Due Diligence and Transparency in relation to minerals and metals from conflict-affected areas and child labor (DDTrO). The review indicated that EFG International is exempt from the Swiss due diligence and reporting requirements for minerals and metals from conflict and high-risk areas as well as from child labour for the reporting year 2023.