NBE issues its first comprehensive report on Responsible Banking for FY 2022

The National Bank of Egypt has issued its first comprehensive report on Responsible Banking for the fiscal year 2022. This report, published on the bank's official website, outlines the overall impact of the bank's portfolio on the economic, environmental, and social aspects. It also highlights the responsible banking practices followed by NBE in sustainable lending and green financing.

The bank's chairman, Hisham Okasha, emphasized that this report reaffirms the bank's commitment to responsible banking practices, aligning its strategy with sustainable development goals, the Paris Agreement on climate change, and relevant national and regional frameworks. The bank also places a strong emphasis on managing environmental and social risks effectively.

In terms of environmental impact, the bank has expanded its solar-powered branch operations, with 38 branches across the country. Additionally, the bank has been a pioneer in implementing various green financing programs since 1998, including partnerships with international organizations to support environmental initiatives.

The bank serves various sectors, including corporate banking, small and medium enterprises, individual banking, treasury, capital markets, and investment. It offers tailored financial products and services for these sectors and has a wide geographical presence across Egypt to ensure accessibility to banking services, especially in remote areas.

The bank is also committed to financial inclusion and has approximately 18.5 million customers, representing about 44% of the market share. The principles of responsible banking, which the bank follows, include alignment with sustainable development goals, maximizing positive impacts, stakeholder engagement, governance, transparency, and accountability.

Overall, NBE's efforts in promoting sustainable finance are in line with its longstanding commitment to responsible banking practices and its aim to build trust and have a positive impact on Egyptian society through its financial products and services.

The bank has also issued sustainability reports in line with global standards and is working towards further enhancing transparency and disclosure.