The Financial Times and IFC have selected the Sustainable Bank of the Year recipient for 2008. And the winner is... Banco Real

Based in Brazil, Banco Real was plucked out from more than 180 entrants — out of which regional winners were also selected. Rabobank of the Netherlands is the runner up. Regional winners include YES Bank, India, the Industrial Development Bank of Turkey and Nedbank of South Africa.

Other prizes awarded by the Financial Times and IFC include the Sustainable Deal of the Year (BlueOrchard Finance of Switzerland and Morgan Stanley of the U.S.) and the Sustainable Investor of the Year (E+Co of the U.S.).

The judges had some great things to say about Banco Real, including, “It’s in their DNA. A radical vision for sustainability in Latin America. A bank is only as sound as the society that surrounds it.”

Banco Real’s win is based on the company's willingness to build a green bank from the ground up. Even its product portfolio shows its willingness to investigate all options: microcredit, carbon credits and customized environmentally sound financial solutions. Banco Real stands out because it hasn't just greened up its business practices.  This bank has actually helped its customers make their own businesses more sustainable.

Image — FT Sustainable Banking Conference and Awards