One of the founding values and guiding principles of NBG throughout its history has been its contribution to the progress and prosperity of Greek society, on which the Bank’s long-term and sustainable business success depends.
Standing by these principles, NBG has developed a corporate culture that reflects the Bank’s desire to function responsibly in all the sectors that contribute to sustainable growth, including the market, shareholders, workers, the community at large and the environment.
According to the definition in the Green Paper on Corporate Social Responsibility (European Commission, 2001, p. 8), corporate social responsibility is “a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.”
For the Bank, stakeholders are “natural and legal persons who are affected directly or indirectly by its decisions and its operations, including shareholders, customers, employees, the business community, NGOs, local communities, suppliers, the government, and media.”
Participation of businesses in the welfare of the community
Business activity has always been propelled by the need to make sufficient profit that it can continue to function within the environment in which it works and grows.
In recent years, new conditions generated by the globalized economy have highlighted the need for businesses to participate in social development, and require that corporations pull their weight in helping society to develop and prosper. Socially responsible companies should make firm commitments to issues such as transparency, quality of service, the potential to create, defend human rights, protect the environment and preserve the cultural heritage—all key components of CSR. As both an internal company process and an external function, CSR should permeate the sum of activities of modern-day businesses.
NBG and Corporate Social Responsibility
Having undertaken the role of “responsible citizen” vis-à-vis the community in which it operates, throughout its long history from 1841 onwards NBG has consistently demonstrated its respect for human values, the welfare of the community, support for entrepreneurship, the preservation of Greek culture, support for letters and the arts, and environmental protection.