Latest news with #AmrElShafei
bnok24
5 days ago
- Business
- bnok24
Emirates NBD Egypt Releases Its First Carbon Footprint Report
Emirates NBD Egypt announced the release of its first Carbon Footprint Report, marking its initial comprehensive assessment of greenhouse gas (GHG) emissions resulting from its operations. This report affirms the bank's firm commitment to applying the highest standards of accuracy and transparency in measuring and disclosing emissions, and represents a pivotal step in the bank's efforts towards transitioning to a green economy by minimizing its environmental footprint and embedding sustainability at the core of its operations The report covered all of the bank's operational facilities, including branches, headquarter, sales buildings, and warehouses. The report provides a breakdown of emissions across three main scopes: direct emissions under scope 1 amounted to 589 mtCO2e, indirect emissions from purchased energy under scope 2 reached approximately 5,956 mtCO2e, while other indirect emissions under scope 3 totaled 7,701 mtCO2e. This brings the bank's total carbon emissions to 14,246 mtCO2edemonstrating its continued dedication to adopting sustainable practices and understanding the full scope of its environmental impact In this context, Amr ElShafei, CEO and Managing Director of Emirates NBD Egypt, stated: 'Issuing this report reflects our profound commitment to embedding sustainability within the core of our operations and enhancing transparency in data disclosure. We strive to play an active role in addressing climate change challenges by adopting integrated solutions that align with Egypt's Vision 2030 and the Sustainable Development Goals.' He added: 'At Emirates NBD Egypt, we believe that real economic growth goes hand in hand with environmental protection. We will continue to develop innovative initiatives that contribute to emission reduction and help build a more sustainable and prosperous future for the generations to come Amgad Doma, Chief Strategy & Sustainability Officer at Emirates NBD Egypt, also commented: 'This report serves as a cornerstone in our journey toward achieving carbon neutrality, leveraging its preparation on a thorough analysis of emission sources across all our operations, allowing us to design practical and impactful solutions for carbon reduction. The report also crowns our continued efforts to develop an integrated disclosure framework that enhances transparency and ensures our alignment with international sustainability standards, while supporting Environmental, Social, and Governance (ESG) data governance in line with global best practices.' He added: 'Through these efforts, we aim to embed a culture of sustainability within the bank and solidify our leadership in this field across the Egyptian banking sector As part of its environmental commitment, Emirates NBD Egypt is currently developing a comprehensive decarbonization plan focused on reducing its carbon emissions. This includes implementing a holistic energy management system, adopting environmentally responsible practices, optimizing water and electricity consumption, improving waste management strategies, and boosting recycling processes. Additionally, the bank is committed to applying green building standards across many of its upcoming construction projects Emirates NBD Egypt continues to advance its sustainable growth by innovating in banking services and investing in renewable energy, thereby creating real sustainable value for both the community and the environment. The release of the first carbon footprint report marks a significant milestone in this direction, laying a solid foundation for monitoring and reducing carbon emissions in alignment with national efforts and The Central Bank of Egypt's directions toward a green economy and the achievement of Egypt's Vision 2030 Google News تابعونا على تابعونا على تطبيق نبض
bnok24
25-06-2025
- Business
- bnok24
Emirates NBD Egypt Becomes the First Bank in Egypt to Join the 'Risk-Sharing' Agreement with the European Bank for Reconstruction & Development (EBRD)
Emirates NBD Egypt has announced the signing of a Risk-Sharing Facility (RSF) agreement with the European Bank for Reconstruction and Development (EBRD), in a strategic partnership aimed at broadening access to finance for the Egyptian firms, particularly small- and medium-sized enterprises (SMEs). The agreement is designed to ensure the sustainable growth of these businesses and enhance their competitiveness in the local market. This partnership comes as part of the bank's strategy to support inclusive economic development, empower the private sector, and foster financial inclusion, by offering innovative financial solutions tailored to the needs of the Egyptian market and aligned with the national efforts to build a robust and sustainable economy The signing of this agreement is considered the first of its kind, with Emirates NBD Egypt becoming the first bank in the local market to join EBRD's Risk-Sharing Framework. This step underscores the bank's leading position in the Egyptian banking sector and its capability to forge impactful international partnerships that further elevate its role in delivering integrated banking services, accelerating digital transformation, and providing an advanced banking experience that meets the highest standards of quality and innovation In this context, Amr El-Shafei, CEO and Managing Director of Emirates NBD Egypt, stated: 'This agreement marks a key milestone in our journey, and we're proud to be the first bank in Egypt to sign this partnership with EBRD. This collaboration reaffirms the trust that such a high caliber international financial institution places in Emirates NBD Egypt due to its ability to create real and lasting impact within communities and supporting the national economy through fostering a strong investment climate and driving financial inclusion.' He added: 'As a trusted banking partner, we remain committed to empowering the private sector and supporting SMEs as key drivers of economic growth. Through this agreement, we aim to further expand our financing services and offer innovative solutions that align with the Sustainable Development Goals (SDGs) and Egypt's Vision 2030 Tamer Ragheb, Head of Corporate and Institutional Banking at Emirates NBD Egypt, also commented: 'This agreement marks a significant achievement for the bank, as it encompasses both funded and unfunded facilities, providing us with increased flexibility in designing and delivering a wide range of innovative banking solutions. The new sub-loans will be directed towards supporting local companies with strong export potential, with a special focus on industrial enterprises contributing to import substitution and deepening local manufacturing. Under the terms of the agreement, EBRD will provide guarantees covering up to 65% of the value of each sub-loan issued by Emirates NBD Egypt Emirates NBD Egypt is one of the leading banks in the Egyptian market and a wholly owned subsidiary of Emirates NBD Group. As of December 2024, the bank's total assets reached approximately EUR 3 billion. The bank operates under a comprehensive banking model, offering services through a network of over 62 branches and 338 ATMs spread across all Egyptian governorates, supported by a workforce of more than 2,300 employees As for the European Bank for Reconstruction and Development, Egypt is one of its founding members and has been benefiting from its investments since 2012. To date, the bank has invested nearly EUR 13.3 billion in more than 200 development projects across the country. These projects span vital sectors including finance, food industries, manufacturing, and services, as well as infrastructure projects in the areas of electricity, transport, and water and sanitation. Additionally, the bank has provided technical support to over 500 SMEs, as part of its ongoing efforts to strengthen the competitiveness of the Egyptian economy Google News تابعونا على تابعونا على تطبيق نبض
bnok24
22-06-2025
- Business
- bnok24
Emirates NBD Egypt Wins the Prestigious 'Best Bank for Cash Management - North Africa 2025' Award from The Digital Banker
Emirates NBD Egypt has proudly awarded the title of 'Best Bank for Cash Management – North Africa 2025' by The Digital Banker a global recognized publication that honors excellence in financial services and digital banking innovation. This prestigious recognition reinforces the bank's ongoing commitment to delivering advanced, customer-centric cash management solutions. It also aligns with the bank's strategy to expand its presence in the Egyptian market by offering integrated, innovation-driven banking services, backed by extensive local and regional expertise This distinguished award underscores the bank's continued efforts in offering seamless, technology-driven cash management services designed to meet corporate clients' dynamic needs, through Emirates NBD cutting edge digital platform 'businessONLINE' that is designed to help corporate customers to manage their cash and liquidity in a secured and most efficient way. In this context, Amr El Shafei, CEO and Managing Director of Emirates NBD Egypt, stated: 'We are honored to receive this esteemed award, which stands as a true testament to the effectiveness of our strategy and our pivotal role in supporting corporate growth across Egypt and the region. Our ambitious strategy and continued investment in digital transformation have enabled us to create real value for our customers and stay ahead of rapid changes in the financial sector.' He added: 'At Emirates NBD Egypt, we remain focused on driving further growth by accelerating digital transformation and offering smart cash management solutions tailored for corporates, reaffirming our leadership in the Egyptian banking sector and our position as a trusted financial partner'. Tamer Ragheb, Head of Corporate and Institutional Banking at Emirates NBD Egypt, commented: 'This recognition is a testament to the dedication of our teams and our deep understanding of evolving business needs. At Emirates NBD Egypt, we take pride in delivering smart, integrated financial solutions that drive our corporate customers' business growth and financial stability. By working closely with our customers, we provide strategic, tailor-made financing models that empower their ambitions and help them achieve long-term, sustainable development impact.' In addition to this accolade, Emirates NBD Egypt received an additional award recognizing its excellence in digital transformation, the 'Outstanding Digital CX – Mobile Banking – Egypt' award, from The Digital Banker. This honor highlights the bank's ongoing efforts to deliver a smooth and secured mobile banking experience through its mobile application, driven by continued investments in technology infrastructure and enhanced digital capabilities to meet evolving customer expectations and ensure seamless banking services. These achievements are underpinned by the bank's strong financial performance in 2024, during which the bank recorded an exceptional 64% growth in net profit, reaching EGP 5.3 billion. Additionally, net trading income recorded a remarkable growth of 192% compared to the previous year, demonstrating the bank's resilience and operational efficiency in delivering robust financial performance. Building on this success, the bank maintained its positive momentum in the first quarter of 2025, achieving EGP 1.4 billion in net profit, compared to EGP 1.1 billion in the same period of 2024, marking a 31% increase. Net interest income also rose by 16% to reach EGP 3 billion, compared to EGP 2.6 billion in Q1 2024, a testament to the bank's consistent and sustainable performance in Egypt's banking landscape. Since entering the Egyptian market in 2013, Emirates NBD Egypt has firmly established itself as a trusted financial partner, leveraging its deep regional expertise and a forward-thinking strategy to drive economic growth. The bank offers an integrated suite of financial services tailored to meet the evolving needs of businesses in line with emerging industry trends. As of March 2025, the bank operates a robust network of 62 branches and approximately 338 ATMs across the country, ensuring accessibility to customers nationwide. As the financial sector continues to evolve, Emirates NBD Egypt remains steadfast in its mission to deliver innovative solutions that create tangible and positive impact for its customers, reaffirming its pivotal role as a leading banking institution actively contributing to Egypt's Vision 2030 and sustainable economic growth. Google News تابعونا على تابعونا على تطبيق نبض
bnok24
11-05-2025
- Business
- bnok24
Emirates NBD Egypt Releases its Second Annual Sustainability Report, Reaffirming its Commitment to Supporting Egypt's Sustainable Development Agenda
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 NBD Egypt Releases its Second Annual Sustainability Report, Reaffirming its Commitment to Supporting Egypt's Sustainable Development Agenda Cairo, Egypt – 11th May 2025: 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 Google News تابعونا على تابعونا على تطبيق نبض
Zawya
05-02-2025
- Business
- Zawya
Emirates NBD Egypt's net profits jump by 64% In 2024, recording EGP5.3bln
Emirates NBD Egypt announced significant business results in 2024, showing the Bank's separate financial statements. Its net profits rose to EGP 5.3 bn in 2024, compared to EGP 3.2 bn during 2023, with growth of 64%. Reflecting the Bank's strong and sustainable performance in the Egyptian market, and its commitment to providing innovative banking services that meet the needs of customers and enhance its leadership position in the banking sector. The Bank's profit before income taxes recorded EGP 7.5 bn in 2024, compared to EGP 4.9 bn in the same period of 2023, with a growth rate of 54%, and a total increase of EGP 2.6 bn. Net interest income rose by 52.77% to EGP 11.1 bn in 2024, compared to EGP 7.3 bn in 2023, with an increase of EGP 3.8 bn. Net fees and commissions income rose by 51.48% over the past year, reaching EGP 1.7 bn in 2024, compared to EGP 1.1 bn in 2023. At the level of Emirates NBD Egypt, the Bank's assets increased by 24.05% over the past year, registering EGP 158.9 bn by the end of 2024, compared to EGP 128.1 bn by the end of 2023. Customer deposits portfolio jumped 24.87% in 2024, with a total value of EGP 128.2 bn by the end of the year, compared to EGP 102.7 bn by the end of 2023. Deposits was distributed between EGP 46.1 bn as retail deposits and EGP 82.1 bn as corporate deposits, reflecting customers' confidence in the products and services offered by the bank that meet depositors' aspirations. The Bank expanded in offering loans to the customers over the past year, bringing its total customer loans by about 39.95%, the highest annual growth rate since entering the Egyptian market, bringing the portfolio size to EGP 84.1 bn by the end of 2024, compared to EGP 60.1 bn by the end of 2023, as a result of growth in the two sectors loans: corporate sector and retail banking sector. Commenting on these record-breaking results, Amr ElShafei, CEO and Managing Director of Emirates NBD Egypt, said: 'The strong performance achieved by the bank during 2024 reflects the success of our new strategy, which is primarily driven by a deep understanding of market and customer needs, as well as providing diverse and distinguished products tailored to these needs, enriching the banking sector with world-class experiences.' He added, 'The bank remains committed to its expansion strategy, reinforcing its presence in the Egyptian market through advanced technological services that provide essential support to both individuals and businesses. Our goal is to meet the growing demand for seamless electronic banking transactions, both locally and internationally.' ElShafei further emphasized that the bank's workforce is its greatest asset, playing a pivotal role in driving its success. He credited the dedicated team as the primary force behind the bank's continued Solid performance across all financial indicators. It is worth noting that Emirates NBD Egypt entered the Egyptian market in June 2013 through acquiring BNP Paribas in Egypt. The Bank has a large network of 67 branches by the end of 2024 and has around 339 ATMs spread across Egypt to reach its customers in various locations.
