Cairo: First Abu Dhabi Bank Misr (FABMISR), one of the largest banks operating in Egypt, announces the release of its first Sustainability Report for 2023. This comprehensive report outlines the bank’s commitment to sustainable growth and sets the stage for continued development and positive transformation in line with the group’s pledge to create long-term value for stakeholders and the planet.

The report highlights key pillars of FABMISR's sustainability framework: Environmental, Social, and Governance (ESG) Integration, Green Financing Initiatives, Financial Inclusion, Leadership in Sustainable Practices, Net Zero Commitments, and Employee Wellbeing and Capacity Building.

Mr. Mohamed Abbas Fayed, CEO and Managing Director of FABMISR, said: “We are proud to present FABMISR’s first Sustainability Report, a key milestone in our journey towards a sustainable future. This report reflects our unwavering commitment to driving positive economic, environmental, and social impact in alignment with Egypt’s Vision 2030 and FAB Group’s ambitious ESG goals.”

“By integrating the group’s Environmental, Social and Governance risk management policies, including the Risk Appetite Framework, FABMISR upholds informed, responsible financing decisions. This approach reinforces our dedication to fostering a sustainable and inclusive economic landscape. As we look to the future, we are aligning our efforts with the group's ambitious target of facilitating USD 136 billion by 2030. To achieve this, FABMISR is establishing its own green financing targets that align with the group's objectives and comply with the sustainable finance guidelines set by the Central Bank of Egypt.” He added.

In every step, FABMISR demonstrates its commitment to building a more inclusive and supportive community. By achieving an impressive 99% procurement rate from local suppliers, the bank not only stimulates the economy but also reinforces its dedication to promoting local businesses. This commitment is further reflected in a notable 22% increase in SME lending, which has reached EGP 11.168 billion. With the goal of onboarding an additional 2,000 SMEs by 2025, FABMISR actively works to empower local entrepreneurs and drive economic development.

Their efforts extend to launching specialized financial products for youth, women, marginalized groups, and people of determination, already attracting over 20,000 underserved customers and ensuring access to vital financial resources.

FABMISR’s leadership in sustainability is evident in its commitment to diversity, with 25% female representation in executive roles. The bank has delivered over 40,000 hours of sustainability and leadership training and is the first in Egypt to achieve ISO 45001:2018 certification for occupational health and safety.

This ongoing dedication aligns with Egypt’s Vision 2030, positioning FABMISR as a catalyst for positive transformation in economic, environmental, and social responsibility.

About FABMISR:

FABMISR, a subsidiary of the First Abu Dhabi Bank Group (FAB), is one of the largest foreign banks operating in Egypt. FABMISR’s local network operates through 69 branches, where it provides leading banking products and services that cater to all customer segments; along with achieving the highest value for its stakeholders and employees. Moreover, the bank offers a personalized banking experience to meet the various expectations of its customers from large organizations, SMEs and consumers whilst utilizing its global experience to support stakeholders, entrepreneurs and the local economy.    

FAB is one of the world’s largest and safest financial institutions with an international network spanning over five continents. The bank also offers global relationships, extensive experience, and financial strength to support local, regional, and international companies seeking to manage their businesses at home and abroad.

FAB is rated Aa3, AA- and AA- by Moody's, Standard & Poor's (S&P, and Fitch, respectively), making it the most robust aggregate rating of banks in the Middle East and North Africa region. FAB is also a regional leader in sustainability and is part of the MSCI ESG Leaders Index and FTSE4Good EM.

For more information on FABMISR, please visit https://www.fabmisr.com.eg/en/