The National Bank of Bahrain (NBB) has been named ‘Bahrain’s Best Bank for ESG’ and ‘Bahrain’s Best Bank for Corporate Responsibility’ at the prestigious Euromoney Awards for Excellence 2024. This win marks NBB’s third consecutive year being recognised for its ESG leadership and the fourth year in a row for its commitment to impactful community investments.
NBB was well-represented at the awards ceremony held in Dubai by a delegation of key executives from the Bank’s Bahrain and UAE operations. These included Zaina Al Zayani Group Head of Strategy & Sustainability of NBB Bahrain, Yogesh Kale Chief Executive Officer of NBB UAE, Mohamed Alqassimi Business Marketing & Partnerships Manager of NBB Bahrain, Yusuf Najmi Head of Retail and Admin of NBB UAE, and Parvez Ahmed Head of Corporate Coverage of NBB UAE.
Commenting on the accolades, NBB Group Chief Executive Officer Usman Ahmed said, “We are honoured to receive these prestigious Euromoney awards. These recognitions reflect our relentless commitment to integrating ESG principles into the very fabric of our operations. Through the Bank’s pioneering Donations & Contributions Fund, NBB allocates 5% of its annual net profit towards social welfare, education, healthcare, and environmental initiatives. This strategic allocation fuels positive change across the Kingdom by empowering communities, nurturing young talent, and fostering a more inclusive society. These awards motivate us to accelerate our ongoing efforts and contribute to a more sustainable and inclusive future for Bahrain.”
Euromoney added, “National Bank of Bahrain has demonstrated meaningful progress in driving sustainability in its operations and community outreach activities. It has played a pivotal role in promoting environmental awareness among young people.”
NBB’s award for ‘Bahrain’s Best Bank for ESG’ is the result of its relentless pursuit of sustainability excellence. The Bank made significant strides in environmental performance in 2023 through reduction in energy consumption and greenhouse gas emissions. The Bank also implemented a robust waste management strategy that saw its recycling ratio increase compared to 2022.
Building on the success of Phase 1 of its Sustainability Strategy, NBB entered Phase 2 (2024-2026) with monumental initiatives that signified its industry leading ESG approach. One such initiative was its landmark collaboration with the Ministry of Industry and Commerce (MOIC) on the Green Factory Seal programme to promote environmentally conscious practices throughout Bahrain’s industrial sector. Additionally, NBB arranged the Kingdom’s first ESG-linked interest rate swap for Bapco Energies which further reinforced its dedication to sustainable finance.
NBB’s fourth successive award for ‘Bahrain’s Best Bank for Corporate Responsibility’ underscores the effectiveness of the governance principles that guide its community investments. In 2023, the Bank supported 81 organisations and community initiatives, providing both financial and non-financial assistance, including staff volunteering. These efforts encompassed education and youth development programmes, healthcare services for underprivileged individuals, and environmental responsibility initiatives.
In a significant leap forward for Bahrain’s healthcare landscape, the Bank recently inaugurated its Multiple Sclerosis (MS) Centre in Muharraq, a groundbreaking facility aimed at revolutionising MS care in the Kingdom. NBB’s commitment to community well-being extends beyond this milestone project. The bank also actively contributes to the Smile Initiative, providing unwavering support to children with cancer, reinforcing its role as a compassionate corporate citizen.
To foster a platform of excellence for young athletes, the Bank sponsored the prestigious Nasser bin Hamad Football Championship and the pioneering Super Talent Bahrain 2023 Championship. NBB’s commitment to education extended to supporting the Crown Prince International Scholarship Programme to nurture Bahrain’s brightest minds for leadership roles. The Bank also sponsored the participation of information and communication technology (ICT) students at GITEX Global Dubai 2023 where they exhibited their innovative projects at the Bahrain Pavilion.
Environmental stewardship remained a critical priority as the Bank supported the Bahrain International Schools Eco-Summit 2023 which brought nearly 300 students from different schools to attend various presentations on sustainability and showcase their eco-projects. Furthermore, the Bank partnered with the Innov8 Hackathon to empower young innovators to develop sustainability-centric solutions.
Playing its part in ensuring a safe start to the academic year, NBB supported the Back-to-School Traffic Campaign by the Ministry of Interior’s Traffic Directorate. Additionally, to celebrate inclusivity in sports, the Bank sponsored the joint participation of the Down Syndrome Care Centre and the Sport to Door Academy for Taekwondo at the 1st Taekwondo Arab Clubs Championships in Cairo, Egypt.
