NBAD becomes first UAE bank to join the Equator Principles Association

Abu Dhabi, 20 September 2015

National Bank of Abu Dhabi (NBAD) has adopted the Equator Principles (EP), an internationally-recognised benchmark in the financial industry for identifying, assessing and managing environmental and social risk in bank financed projects.

NBAD is the first bank in the UAE to sign up to EP, a voluntary set of guidelines based on International Finance Corporation (IFC) standards on social and environmental sustainability, and on the World Bank Group's Environmental, Health and Safety general guidelines.

Equator Principles provide the finance industry’s most prominent benchmark for evaluating environmental and social risk in projects. Financial institutions signing up are committing to perform an environmental and social review on projects before agreeing to provide financing. Where issues are identified under EP, banks require clients to take concrete measures to mitigate potential negative impacts of projects on people or on the environment.

EP are applied to new project financings with capital costs exceeding USD 10 million across a range of industry sectors, as well as to corporate loans and advisory assignments related to projects.

Nathan Weatherstone, NBAD’s Head of Renewable Energy, said: “The adoption of the Equator Principles resonates with the bank’s core values and demonstrates the bank's leadership on environmentally and socially responsible lending practices. This is part of a wider initiative at NBAD to focus on the renewable energy sector with the objective of creating value for our core clients and in so doing, building a profitable venture which addresses their needs and interests.”

Belinda Scott, NBAD’s Head of Citizenship and Corporate Sustainability said: Sustainability, environment and social responsibility are issues that we embrace following our commitment to be a responsible bank. NBAD has always had a robust approach to environmental risk management. Adopting the Equator Principles will crystallise our evaluation of environmental and social issues in a more systematic manner that is consistent with international best practice.”

About NBAD

NBAD has one of the largest networks in the UAE, with an expanding network of 125 branches and cash offices and more than 585 ATMs across the country. NBAD’s growing international network consists of about 60 branches and offices in 18 countries stretching across five continents from the Far East to the Americas, giving it the largest global network among all UAE banks.

Since 2009, NBAD has been ranked consecutively as one of the World’s 50 Safest Banks by the prestigious Global Finance magazine, which also named NBAD the Safest Bank in the Emerging Markets and the Middle East.

NBAD is rated senior long term/short term AA-/A-1+ by Standard & Poor's (S&P), Aa3/P1 by Moody’s, AA-/F1+ by Fitch, A+ by Rating and Investment Information Inc (R&I) Japan, and AAA by RAM (Malaysia) , giving it one of the strongest combined rating of any Global financial institution.

A comprehensive financial institution, NBAD offers a range of banking services including retail, investment and Islamic banking. NBAD grows strategically toward its vision to be recognised as the World’s Best Arab Bank.

For more information please visit NBAD's corporate webpage at: www.nbad.com.