NBB Wins Bahrain ESG Bank Again at Euromoney 2023

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KnowESG_NBB Wins Bahrain ESG Bank Again at Euromoney 2023
Image courtesy of NBB

The National Bank of Bahrain (NBB) has once again clinched the prestigious 'Best Bank for ESG in Bahrain' accolade at the 2023 Euromoney Awards for Excellence, adding to its 2022 triumph.

This coveted award underscores the bank's significant strides in Environmental, Social, and Governance (ESG) practices. NBB has been consistently incorporating ESG considerations into its business operations since the introduction of its three-year sustainability roadmap in 2020. Additionally, the bank has enhanced transparency by adhering to several international ESG reporting frameworks.

Notable ESG endeavours within NBB include the establishment of the NBB ESG Academy in partnership with the Supreme Council for Environment (SCE) in 2022, the launch of the national benchmark internship programme 'Evolve and Thrive,' and the impressive performance in reducing energy consumption, water consumption, Greenhouse Gas Emissions, and waste management.

Furthermore, NBB's business conduct has been lauded for its innovative financing structures designed for the retail sector, offering environmentally and socially beneficial products at preferential rates.

The bank has also revitalized its offerings for Commercial and SMEs, expanding the eligibility scope for its Tamweel Alwatani financing scheme. In the Corporate and Institutional Banking sector, NBB has tailored its services to match the sophistication required. Notably, NBB served as the Sustainability Coordinator for a US$1.3 billion syndicated loan transaction in 2022, supporting one of the Kingdom of Bahrain's key strategic assets.

Boris Dechev, Senior Research Analyst at Euromoney, praised NBB, stating, "NBB led the way in sustainability with a 13% reduction in energy, emissions, and water usage while enabling customers to make eco-conscious choices with innovative products."

Usman Ahmed, Group Chief Executive Officer at NBB, expressed his gratitude for the recognition, saying, "We are honoured to have been recognised for a second year at the 2023 Euromoney Awards for Excellence for our accomplishments in the Sustainability space. This award is a testament to our unwavering dedication to environmental sustainability, social responsibility, and strong governance. We believe in creating a positive impact in the communities in which we operate and aim to lead the industry by example as a sustainability-driven organisation."

NBB remains steadfast in its commitment to building upon its existing ESG practices and collaborating with stakeholders and partners to innovate future initiatives that align with the national vision and contribute positively to society.

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Source: NBB

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