Erste Group’s Social Banking invested 53 million euros to support its clients in the pandemic year 2020
2020 was a challenging year, with the Covid-19 pandemic disproportionately hitting the most vulnerable people in our society – not only in terms of their health, but also financially, due to job loss or lower income. However, the recently published Annual Report by Erste Group’s Social Banking demonstrates that also in these uncertain times, the banking group was able to successfully support its clients across the CEE region and help them to get through the crisis.
“Social Banking is one of the clearest ways in which we at Erste live up to our founding purpose and it has become one of the cornerstones of our ESG strategy. But our commitment doesn’t stop at words: we provided over 50 million euros to Social Banking clients in 2020 and also helped thousands of them expand their business and financial knowledge through trainings. Our Social Banking activities aren’t charity – they’re part of a viable social business approach that ensures we can make a long-term sustainable contribution to the wellbeing of people in our region,” emphasizes Bernd Spalt, CEO of Erste Group.
Highlights of 2020
Last year, Erste Group’s Social Banking provided a total of EUR 53 million in loans to starting entrepreneurs, microfinance businesses and social organizations, as well as to people in financial difficulties across CEE. Social Banking financed more than 1,400 clients and helped another 4,600 clients to improve their financial literacy by offering them business trainings and education support. In total, Social Banking supported more than 10,000 clients in 2020.