Emirates NBD Egypt has released its second annual Sustainability Report for 2024. Developed in accordance with the latest international standards, the report reflects the bank’s steadfast commitment to sustainability and transparency in disclosing its performance against Environmental, Social, and Governance (ESG) criteria.
The report showcases the bank’s significant progress in embedding sustainability into its corporate strategy, aligning with Emirates NBD Group’s broader vision of achieving sustainable growth across all levels. It also underscores the bank’s dedication to fulfilling the expectations of all stakeholders, including customers, investors, vendors, and others, while placing a strong emphasis on reducing a negative environmental impact, promoting social inclusion, and strengthening the principles of good governance. These efforts collectively reflect the bank’s vital role in supporting sustainable development in Egypt.
In this context, Amr ElShafei, CEO and Managing Director of Emirates NBD Egypt, stated: “We are proud to issue our second annual Sustainability Report, which embodies our strategic vision of achieving a balanced integration between financial performance and environmental and social responsibility. This holistic approach has enabled us to drive significant strides both in our operations and financial results, demonstrating our firm commitment to creating a positive, lasting impact that ensures a better and more inclusive future for the generations to come.” He added: “We remain fully dedicated to supporting Egypt’s economic and social development goals, with sustainability now firmly established as a core pillar of our strategy and a key driver of innovation and sustainable growth.”
Amgad Doma, Chief Strategy and Sustainability Officer at Emirates NBD Egypt, commented: “This report marks a key milestone in our journey towards sustainable finance and responsible banking. It not only captures what we have achieved so far, but also reflects our ongoing strategic evolution toward creating a meaningful and measurable impact across the areas of Environmental, Social, and Corporate Governance (ESG).” He added: “We are embracing an integrated approach that goes beyond traditional banking, actively contributing to environmental and social initiatives that improve the quality of life and strengthen our relationships with stakeholders, all while delivering sustainable value across every aspect of our operations.”
The report revealed Emirates NBD Egypt’s significant achievements in advancing responsible finance, one of the key pillars of the bank’s growth. Net profit grew by 64%. Microfinance lending also saw a notable rise of 59%, accompanied by 27% increase in the number of borrower microfinance institutions compared to previous year.
In terms of digital transformation, the bank successfully processed over 646 thousand electronic banking transactions, and the number of its mobile app users reached 80 thousand. The bank also launched fully digital current and saving accounts, significantly enhancing the overall customer experience. This was supported by employee training on the latest digital tools and expanding digital services. The bank continues to encourage the shift towards sustainable transactions by increasing reliance on digital banking services. Additionally, it launched several environmental initiatives, including digitizing the in-branch customer journey
The report also highlighted the bank’s ongoing efforts in environmental sustainability, including waste management and reducing the carbon footprint. The bank successfully recycled 27 thousand kg of waste, comprising 17 thousand kg of paper (equivalent to saving 295 trees), 5 thousand kg of plastic, and 5 thousand kg of organic waste, contributing to natural resource conservation and minimizing environmental impact. These efforts also extended to waste management initiatives during annual events, internal environmental awareness campaigns for employees, and innovative recycling projects.
The report also emphasized the bank’s dedication to diversity and social inclusion through empowering its workforce and implementing diversity and inclusion principles. Emirates NBD Egypt employs more than 2 thousand individuals and proudly maintains one of the highest female representation rates in the Egyptian banking sector, with women making up 45% of the workforce, with a 3% increase from the previous year. The bank reinforced its commitment to gender equality by signing the Women’s Empowerment Principles (WEPs), developed by UN Women and the UN Global Compact. Additionally, the bank is dedicated to integrating people with disabilities into the workplace, offering services through 11 branches and 244 ATMs that are fully equipped to meet their needs, demonstrating a broader commitment to diversity and social inclusion.
As part of its corporate social responsibility, the bank continued to implement impactful projects and initiatives, launching 16 projects that benefited over 21thousand individuals. These initiatives were centered around three main pillars; people with disabilities, youth, and women empowerment. Corporate volunteering is also an integral part of the bank’s social responsibility strategy, with employees actively participating in impactful community initiatives.
In line with Egypt’s national strategy and Vision 2030, Emirates NBD Egypt continues to make a meaningful progress in advancing financial inclusion and enhancing financial literacy. Through innovative banking solutions, the bank is committed to expanding its financial services to underserved and marginalized communities. The bank conducted 72 financial literacy sessions across Egypt and organized annual events and launched awareness campaigns during international occasions to promote financial literacy among youth, women, and people with disabilities. As part of its inclusive vision, the bank introduced digital banking services specifically tailored for youth starting at the age of 15, and developed a comprehensive, customized banking package designed to meet the needs of customers with disabilities. Additionally, operational enhancements were made across branches to ensure smoother and more accessible banking experiences for all.
Emirates NBD Egypt remains firmly committed to achieving sustainable growth and maximizing its positive impact on the environment and society. Through innovation, responsible practices, and investment in renewable energy, the bank strives to create long-term value and embed sustainability principles across all aspects of its business, contributing to a more inclusive and sustainable future.
