An Assessment of Sustainable Banking Performance in Sub‐Saharan Africa—Does Doing Good and Doing Well Go Hand in Hand?

ABSTRACT This paper evaluates sustainable banking performance and its relationship with financial performance among 99 banks across six Sub‐Saharan Africa (SSA) countries. Prior research has shown that there are limited studies on benchmarking sustainable banking performance, and the relationship between sustainable banking and financial performance remains inconclusive. We conducted a benchmarking of sustainable banking performance using a 44‐indicator framework and a 4‐stage ranking system. Regression analysis is used to examine the relationship between sustainability and financial performance. Results indicate that most banks in SSA are in the early stages of adopting sustainable banking practices. A positive relationship exists between sustainable banking performance and financial performance. This finding aligns with good management theory. This win–win situation offers a compelling case for banks to integrate sustainability into their core strategies, creating economic value while addressing social and environmental challenges. Banking regulators can leverage sustainable banking to implement regulations that promote sustainable development in the region.