NBB recognised by Euromoney Middle East Awards for Excellence 2022

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

The National Bank of Bahrain (NBB) has been recognised by the Euromoney Middle East Awards for Excellence 2022 as the “Middle East’s Best Bank for Corporate Responsibility”, “Best Bank for ESG in Bahrain”, “Best Bank for SME Banking in Bahrain” and “Best Bank for CSR in Bahrain” – marking a significant achievement and testament to the Bank’s strong business performance and sustainability strides. The awards ceremony was held on 23rd June 2022 in Fairmont Hotel, the Palm in Dubai in the presence of NBB’s senior executives and management team.

Elliot Wilson, Editor at Euromoney said: “Giving has been National Bank of Bahrain’s recurring theme since its inception. It enshrined philanthropy in its core values in 1980 and channels 5% of net profit to worthy causes. NBB co-launched Education Finance, a financial solution designed to support parents of students who would like to invest in the educational paths and futures of their children, and published its inaugural financial and sustainability report.

Moreover, the amount and scope of initiatives launched in the ESG field in 2021 has been highly impressive. These include finance schemes for sustainable products, financial support for initiatives and projects, as well as launching initiatives aimed at reducing environmental impact from the bank’s own operations". Boris Dechev, Senior Research Analyst at Euromoney added: "NBB has advanced its SME banking operations achieving impressive conversion rates of commercial and SME clients.

It has also been highly active in supporting SMEs throughout the pandemic with convenient financing solutions. Tamweel Al Watani, for instance, is one noteworthy initiative launched last year that provides SMEs in the Kingdom with access to crucial funding following the effects of COVID-19". Commenting on the bank’s achievement, Mr. Farouk Yousif Khalil Al-Moayyed, Chairman of NBB said: “The year 2021 was filled with many customer-centric initiatives, key partnerships and sponsorships that have cemented the Bank’s standing as a community-focusedorganisation in line with our brand promise of being closer to our customers.

We are proud to have been recognised by Euromoney, which underscores NBB’s relentless efforts to drive business growth across key verticals, as we take strides to transform from a service provider to a digitally driven financial entity with a unique value proposition and commitment to sustainable practices. The awards stand testament to NBB’s achievement in solidifying our position as market leaders at a local and regional level. I would like to express my sincere appreciation to the people of NBB, whom have been the muscle behind NBB’s continuous growth and transformation journey.”

Further commenting on the Euromoney awards, Jean-Christophe Durand, Chief Executive Officer of NBB, stated: “As part of our role as a national enabler, giving back to the community has always been an integral component of NBB’s operating framework. Receiving these awards reiterates our commitment to embedding sustainability and ESG practices at the core of our business.

Over the past year, the bank has significantly improved its environmental performance, taking action to mitigate climate change and minimise its environmental impact. Recognising the importance of empowering the commercial and SME sector in Bahrain, NBB has been proactive in launching a series of initiatives to support local start-ups and up-and- coming businesses in the Kingdom. We have successfully provided SMEs across the country with access to essential funding to shield them from the after-effects of the pandemic and provide them with a solid foundation to build and expand their business. NBB will continue to offer more unique tailor-made products for the SME sector in the upcoming months.”

NBB consistently maintains its endeavor of enhancing its leading position in local markets, all while actively supporting national efforts, particularly within the SME sector. The Bank continues to take aggressive steps to expand the scope of its ESG initiatives, with a keen focus on further progressing the digital economy by intently transforming and developing its banking operations and services. This comes as part of the Bank’s ongoing commitment to contribute to cementing the Kingdom’s position as a leading regional financial hub, in line with the Economic Vision 2030.