ERSTE Foundation
ERSTE Foundation, Austria's largest private savings foundation, is committed to the common good in Central and South-Eastern Europe, promoting social innovation, financial education and contemporary culture to provide disadvantaged groups with access to financial services.
First Group and First Foundation: A comprehensive description
editAbout the First Group
editErste Group Bank AG, short Erste Group, is one of the largest banking groups in Central and Eastern Europe. Founded in 1819 as Erste österreichische Spar-Casse, the company has developed over the years into a universal bank with more than 16 million customers and over 2,000 branches in seven countries. The headquarters of Erste Group is located in Vienna, Austria, and the company is listed on the Vienna, Prague and Bucharest stock exchanges.
Business activities and structure
editThe company operates as a holding company for its domestic and foreign subsidiaries and also has branches in New York, Hong Kong and Germany.The company focuses on private and corporate customer business in the Eastern European Union and offers a wide range of financial services, including loans, deposits and commercial lending.
Social banking and sustainability
editAn important aspect of the First Group is its commitment to social banking.The initiative, which began in 2006 with the founding of the Second Savings Bank, aims to support people in financial distress by opening accounts and providing consulting services.In addition, the First Group offers microfinance services in rural areas and supports entrepreneurs, small businesses and social organizations through lending and other support programs.
The first foundation
editERSTE Foundation, founded in 2003, is the largest private savings foundation in Austria and the main shareholder of the Erste Group. It emerged from the Ersten österreichische Spar-Casse and is committed to the common good in Central and South-Eastern Europe. The Foundation invests parts of its dividends in the social development of the region, with emphasis on supporting civil society initiatives, the inclusion of socially disadvantaged groups and the promotion of contemporary culture.
Mission and values
editERSTE Foundation is characterized by its non-profit orientation and sees it as its social responsibility to provide people in its region with access to basic financial products and social services. It promotes financial health for all, the preservation of a democratic Europe and the creation of spaces for contemporary culture. The Foundation supports initiatives for change, contributes to the development of civil society and promotes regional progress.
Sustainability goals and initiatives
editERSTE Foundation is committed to various sustainable goals, including supporting social innovation, promoting financial literacy through programs such as the First Financial Life Park (FLiP) and the Time Bank, a volunteer portal that connects employees with partner organizations.
Cultural commitment
editAnother important aspect of ERSTE Foundation is its cultural commitment: the Foundation supports contemporary visual arts and promotes art and cultural creators who critically deal with social developments.The Contact Collection, which has existed since 2004, includes over 1,400 works of art by about 160 artists and art groups and serves to preserve and promote art in the regions in which the ERSTE Group operates.
Current projects and events
editERSTE Foundation is involved in numerous current projects and events, such as the Professional Integration Hub, an internship program for Ukrainian professionals in Austria, and the presentation of the book Lessons from Europe: 22 Essays on the Future of Our Continent, which thematizes the political and social transformations of Europe over the last 35 years.