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Optima bank began its operations in Greece in August 2019. As a "simple, flexible and contemporary" bank that aims to offer the best possible banking experience, it quickly gained the trust of the public during a difficult period for the global economy and, since then, has continued to grow steadily. With “optimum banking experience” being its main motto, the bank puts the customer and their needs at the center, while from the beginning it has operated as a responsible bank and a responsible investor.
A few years later, having strengthen its relationships with the community in which it operates, the bank established an official framework for sustainable development and announced the sustainability strategy of the bank and the group, to respond to the needs of its stakeholders.
The goal was to balance economic progress, social justice, and environmental protection. Through the individual objectives set out in Optima bank's sustainability strategy and the initiatives developed under this framework, the bank ensures the main principle of sustainability: today’s needs are met, without compromising the ability of future generations to meet their own needs.
To protect the environment, the bank is committed to supporting the energy transition, by implementing sustainable practices and integrating climate and environmental considerations into business risk management.
To support the needs of its stakeholders, the bank is committed to creating long-term value by ensuring equal opportunities for both customers and employees. At the same time, it is committed to maintaining high levels of satisfaction across all stakeholder groups, promoting inclusivity, and protecting the privacy of personal data.
To establish and maintain a solid governance model, the bank integrates sustainability principles into its corporate culture, strengthens anti-corruption policies and procedures, and promotes zero tolerance toward such practices. It also ensures the protection of whistleblowers and fosters transparency and accountability at all levels.
Therefore, the development of the bank's sustainable development strategy was a prerequisite for incorporating sustainability principles throughout the organization as well as in the broader value chain.
The sustainable development strategy applies to all employees, business partners, and other stakeholders that participate in the bank and its group's activities. Stakeholders are identified as natural and legal people who influence and are or are expected to be significantly affected by the bank's decisions, activities, and operations in general. The main stakeholder groups identified are bank are1. Customers 2. Employees 3. Investors and shareholders 4. Partners and suppliers 5. Local communities (NGOs/Non-Governmental and Non-Profit organizations, Professional associations, SMEs, Local authorities, etc.) 6. State and supervisors (Ministries, Supervisory authorities, Intergovernmental organizations, Government bodies, etc.).
This sustainability strategy covers the period from the beginning of 2024 onwards. The implementation of the targets is scheduled to continue until the end of 2026, with a three-year implementation horizon, unless otherwise stated (e.g. 2030 for the replacement of 100% of the bank's car fleet with electric and/or hybrid vehicles).
In 2024, Optima bank made the strategic decision to align its business model with the evolving needs and expectations of its stakeholders. This revised business model fully integrates sustainability priorities and is reflected across the bank’s sustainable development strategy, including its subsidiaries.
To determine its strategic priorities and define specific objectives, the bank conducted a double materiality analysis, evaluating both the impacts of its operations and the external factors that may affect its business. Based on the results and after a series of internal communications with representatives from various departments, specific objectives were set within a timeframe and result orientation.
To ensure its targets were achievable and aligned with industry standards, Optima bank performed a peer analysis. Based on internal data related to environmental performance, human resources and corporate governance, industry reports and international standards (such as the sustainable development goals – SDGs and European union directives), the group established specific targets.
The bank continues to actively participate in due diligence processes and gather views through targeted consultation methods, identifying critical issues that may affect its strategy. The information collected and the feedback provided during these processes are analyzed to identify key areas for improvement, measures and initiatives that may be necessary to meet stakeholder expectations.
Optima bank's new strategy does not respond solely to a single social or environmental issue but addresses holistically the key challenges of the climate crisis, social cohesion, and prosperity.
Specifically, the bank has undertaken the following commitments and has set the following targets and key performance indicators:
• Supporting the energy transition
The bank is committed to supporting the energy transition by reducing its carbon footprint, improving operational efficiency, and implementing sustainable practices. At the same time, it integrates climate and environmental factors into business risk management to enhance resilience and develop transition plans. By driving sustainable practices and integrating environmental considerations, these initiatives enhance customer trust and relevance—ensuring the bank’s offerings resonate with the values and goals of its markets.
In this context, the following environmental objectives have been set:
1) 100% energy from renewable energy sources by 2026 within the bank (Base year 2024)
Key Performance Indicator: % of energy consumed and derived from RES
2) Replacement of conventional cars with electric and/or hybrid (PHEVs) in the bank's fleet/34% of Category 1 emissions (based on location)
Key Performance Indicator: Number of electric and hybrid cars in the entire fleet
3) Development of an environmental management system in accordance with ISO 14001 by 2026
Key Performance Indicator: Yes/no - ongoing
4) 25% reduction in paper consumption by 2026 (Base year 2024) Key Performance Indicator: Tons of paper consumed / year
5) Measurement of emissions resulting from the bank's financing and establishment of emission reduction targets (Scope 3)
Key Performance Indicator: tCO2e
• Creating value for people and society:
The bank aims to generate value for people and society by maintaining high levels of employee and customer satisfaction, providing equal opportunities for all stakeholders, and safeguarding the privacy of their data. In addition, it focuses on improving customer satisfaction and operational efficiency through the provision of digital solutions, ensuring that both employees and customers experience positive outcomes while adopting technological advancements.
In this context, the following objectives have been set:
1) To undertake initiatives to support a flexible and balanced working environment.
Key Performance Indicator: 1. Employee retention rate 2. Number of initiatives implemented
2) Zero tolerance to incidents of violence, abuse and any kind of discrimination. Key Performance Indicator: Number of incidents of discrimination during the year
3) Equal treatment and equal pay at work.
Key Performance Indicator: Gender pays gap
4) >50% working women in 2026
Key Performance Indicator: % of female employees
5) 40% women - senior management by 2026
Key Performance Indicator: % of women in senior management
6) Adoption of international security standards and enhanced personal data protection
Key Performance Indicator: Yes/ No
7) NPS Maintenance> 80.
Key Performance Index: NPS
• Maintaining a sound governance model:
The bank is committed to maintaining a sound governance model by fostering a culture of ethics, transparency, and integrity. It intends to embed sustainability into the corporate culture while strengthening policies and procedures to prevent corruption and bribery, promoting zero tolerance for these practices. The bank also ensures the protection of whistleblowers, encouraging transparency and accountability at all levels.
To monitor the objectives and commitments undertaken by the bank in the context of the sustainable development strategy, specific Indicators have been set, as shown below:
Governance objectives:
1) Integration of sustainability criteria into remuneration and risk management policies Key Performance Indicator: Number of policies with built-in sustainability criteria
2) Provision of transparent information to stakeholders, including employees (e.g. reports)
Key Performance Indicator: Number of publications during the year
3) Zero tolerance for corruption incidents and full compliance with anti-corruption regulations.
Key Performance Indicator: Number of financial losses because of business ethics breaches/number of incidents
4) Sustainability training for all employees
Key Performance Indicator: Training hours
5) Zero incidents of "retaliation" due to complaints
Key Performance indicator: Number of incidents
The group aims to re-evaluate these objectives on a regular basis to ensure their implementation and alignment with the objectives and strategy of the group's policies.
To develop its strategy, the bank leveraged its employees at all seniority levels and took into consideration best practices both domestically and internationally. For the formulation and implementation of the strategy, it did not collaborate with any additional external body, but it relied on guidance and tools provided by the Hellenic Banking Association as well as through communication with stakeholders, such as customers, investors and staff of the organization. In addition, it should be noted that the sustainability management committee is regularly informed about the views and interests of the affected stakeholders regarding the bank's impact on sustainability. Through actively addressing their concerns and integrating their views into the strategy and business model, it is estimated that increased trust and stronger partnerships will be developed.
The bank's sustainable development strategy was based on a double materiality analysis to identify and prioritize the positive or negative, actual or potential impacts of its activities on people and the environment. Based on these results, the key issues on which the bank focuses were identified, which were translated into the sustainable development strategy of the bank and its subsidiaries. In the process of identifying and evaluating these issues, employees of the bank from almost all departments participated. The results were validated by the bank's sustainable development committee, which is chaired by the CEO of Optima bank and is attended by the heads of all critical business areas: Finance, Credit & Recoveries Division, Human Resources, Strategy, IR and Sustainable Development Division, Products & Marketing, Technology & Operations, Wholesale Banking, Retail Networks, Corporate Governance, General Counsel, Brokerage, Risk Management Division. This Committee plays a crucial role in reviewing and responding to stakeholder feedback, transferring it to senior management bodies through quarterly reports and scheduled updates during the year or whenever deemed necessary.
The actions are implemented throughout the Greek territory, focusing on the headquarters in Athens, the branches and the local communities where Optima bank maintains a physical presence. The strategy is implemented and applies to Optima bank in Greece as well as its subsidiaries.
Adopting a sustainability strategy and offering innovative services with the help of digital tools significantly benefits both people and the environment. Digital banking facilitates access to financial services even from remote areas, while, at the same time, the shift to digital services reduces the bank's operational environmental footprint and the need for paper, limiting deforestation and waste.
The creation of a balanced working environment, the provision of equal opportunities, the continuous development and training of human resources, the creation of jobs (direct or induced) even in remote areas of the country, unhindered and safe access to financial and environmentally responsible investments, are the main axes of the sustainable development strategy with direct impact.
Although it is only a few months since the holistic adoption of a sustainable development strategy, Optima bank is already counting results:
For people and society:
> €250,000 was spent on social responsibility actions
>100,000€ per year is invested in the training of staff
12,000€ for one year, for each employee who acquires a new member in his family. For 2024, 11 employees received the allowance
49% of employees are women
37% of positions of responsibility are held by women
25% of the members of the Board of Directors are women
For the environment:
Approximately 11% of the bank's loan portfolio is oriented towards renewable energy sources and energy-efficient buildings.
70% of the bank's car fleet is electric and/or hybrid
29% of the electricity consumed within the bank and the group companies comes from renewable energy sources.
Through initiatives to promote circularity:
A total of 5,170 kg of waste was recycled (organic waste, coffee and capsules are directed to composting or biogas production, and cigarette butts are directed to energy recovery. Paper/cardboard, plastic and aluminium are sent for recycling)
53 trees were rescued
85.38 kg of carbon dioxide emissions avoided
756.12 kg of organic waste turned into soil fertilizers
83,800 liters of water saved by the paper processing and/or textile industries
The new sustainable development strategy offers Optima bank multiple benefits, both at an operational and strategic level. Initially, it strengthens its reputation and corporate credibility, proving in practice its commitment to society and the environment. The increased trust of all stakeholders is a direct result of its transparent and accountable operation. Regular communication with them and the integration of their needs into decision-making further enhances its social acceptance. It is no coincidence that the bank's customer satisfaction index (NPS) remains consistently above 80.
As far as the bank's internal affairs are concerned, actions for equal opportunities, continuous education, empowerment and provision of a working environment that achieves work-life balance, contribute to the creation of an attractive employer that has the ability to attract and retain a capable workforce. It is no coincidence, after all, that the percentage of voluntary departures of employees is so low (5%).
In addition, by maintaining a robust business culture and ethics, through policies, transparent security procedures and protocols, and continuous training on issues related to business ethics and sustainability, the bank has achieved:
Zero incidents of personal data breach
Zero incidents related to corruption and bribery
Develop a governance structure that ensures the oversight of issues related to sustainable development, at all levels.
Inclusion in the Athex ESG index, just one year after its listing on the Athens Stock Exchange.
Commitment to the principles of the UN Global compact to implement universal principles of sustainability and take action to support the goals of the United Nations.
The integration of ESG criteria into the strategy and the orientation of a significant part of its financing towards environmentally responsible investments adds value and strengthens the bank's resilience in the long term.
At the operational level, the transition to energy-efficient practices, the promotion of recycling and the reduction of the consumption of raw materials contribute to the reduction of operating costs and waste management.
Having the strategy as a common point of reference, a culture of environmental and social responsibility has been created within the bank that mobilizes its employees, strengthens its resilience and contributes to its and its stakeholders' transition to sustainable business models.