|Date joined:||28 September, 2020|
|Initiatives:||Principles for Responsible Banking|
National Bank of Greece was established in 1841 and was the first bank to be set up in the Modern Greek State, going on to play a key role in the economy of Greece throughout its 179-year history. Today NBG heads one of the largest financial groups in Greece, playing a key role in the efforts to support the Greek economy and the economic and social transformation of the country. NGB Group operates mainly in 8 countries and has, apart from NBG, 2 commercial banking subsidiaries in North Macedonia and Malta, with a workforce of 9,556 employees (continuing operations). It provides a wide range of financial products and services, including deposit and investment products, various financing facilities, and brokerage, insurance, leasing and factoring services.
The Bank, with an extensive branch and ATM network comprised of over 418 branches and 1,488 ATMs (data as of 30.06.2020), covers the entire geographical area of Greece and offers a wide range of financial products and services that meet the ever evolving needs of private and business customers. Moreover, it has developed state-of-the-art e-channels, including Mobile and Internet Banking. NBG remains firmly committed to its top priority of creating value for shareholders, customers, employees and the community at large, coupled with socially responsible practices and actions in its general operations.
In this context and at the forefront of developments, NBG is implementing an ambitious and comprehensive Transformation Program, developing a financial organization that stands out for its governance, transparency and recognition of merit, investing in its people and cultivating their potential. NBG’s broad customer base, respected brand name, strong market share in deposits and enhanced capital adequacy ratios, reflect the long standing relationship of trust it enjoys with its clientele.
Summary of Sustainability Strategy
Throughout its history, NBG closely monitors global developments and aims to efficiently address the challenges of the future by implementing long-term strategic planning that is based on the respect for human and labor rights, the protection of the environment and the transparency in its dealings with all stakeholders.
NBG’s main pillars:
- ESG and Sustainable Financing
- Energy Efficiency and reduction of internal environmental footprint
- Enhancement of internal policies and regulation in relation to CSR and Human Rights
- Raising Personnel’s Awareness in ESG and Environmental Management issues. Trainings and certifications on ESG’s and Environmental Management issues
- Enhancement of non-financial reporting
- Participation in Networks/Organization
- Leading initiatives on corporate social responsibility and sustainable development
- Protecting and satisfying the needs of its human resources
- Responding to the needs of its stakeholders
- Meeting the expectations of the Bank’s shareholders and preserving the Bank’s reputation and maintaining in the long its leading position
- Creating long term values and viability
- Adopting international standards for sustainability
- Measuring the impact of the Group’s operations at a financial, environmental and social level
- Promoting environmental protection and contributing to society
- Respect for Human Rights
- Respect for the environment
- Social contribution
- Contribution to Art, Culture and Education
In alignment with its strategy, NBG joined in June 2018 as a participant member of the UN Global Compact. It is noted that the Bank with a strong sense of corporate responsibility has always been implementing the 10 principles of the UN Global Compact. Whereas, it focuses more than ever on the integration of the 17 Sustainable Development Goals (SDGs) in its strategy and culture. Aiming at ensuring NBG’s compliance with the best international practices and standards, the Group Corporate Governance and Compliance Function, after being successfully audited by the independent audit organization TÜV AUSTRIA Hellas, has received an Attestation for the implementation, monitoring and coordination of the corporate social responsibility principles for the Bank and the Group as defined in the international guidelines of ISO 26000:2010.
As NBG recognizes the significance of responsible practices for ensuring the sustainability of its long-term operation as well as the creation of value for its shareholders, customers, employees and the community at large, it undertakes a series of initiatives aiming at further enhancing its ESG framework. In this context, NBG aims to endorse the UNEP FI principles for Responsible Banking, in order to further strengthen the Bank’s commitment to its long-term strategic planning for contributing to a sustainable future for all.