The National Bank of Egypt was established in 1898 and is headquartered in Cairo, Egypt. During the 1950s, it assumed the central bank's duties and after its nationalization in the 1960s, it acted as a pure commercial bank besides carrying out the functions of the central bank in the areas where the latter had no branches. Since the mid-1960s, it has been in charge of issuing and managing investment certificates on behalf of the government. It has a network of 615 branches, offices and banking units nationwide serving nearly 17.8 million customers. Additionally, the bank maintains international presence in the UK, Sudan, USA and China, as well as a correspondent bank network around the globe.
The National Bank of Egypt has a grievance mechanism accessible to all workers to raise human rights complaints or concerns. The bank also has a policy prohibiting bribery and corruption. Moreover, it discloses the proportion of its total direct operations workforce covered by collective bargaining agreements.
In terms of its approach to senior leadership accountability, the National Bank of Egypt could link the remuneration of its executive or management teams to sustainability performance criteria. In addition, it could disclose a policy statement committing to gender equality and women’s empowerment. It also has an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. Furthermore, the bank has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients.
The National Bank of Egypt has an opportunity to disclose a target to reach net-zero financed emissions by 2050 and the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. It could also disclose its financing activities devoted to climate solutions. Regarding nature and biodiversity, the National Bank of Egypt could provide a statement regarding how it is committed to minimising its negative impacts or finances regenerative solutions.
The National Bank of Egypt has an opportunity to provide a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles and the ILO declaration on fundamental rights at work. It could also describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. Moreover, the bankhas an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group, gender and another indicator of diversity. To provide transparency on financial inclusivity, The National Bank of Egypt has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.