ERSTE Foundation

The Erste 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 stock exchanges of Vienna, Prague, and Bucharest[1].

Erste Group acts as a holding company for its subsidiaries both domestically and internationally and also maintains branches in New York, Hong Kong, and Germany. The company focuses on retail and corporate banking in the eastern European Union and offers a wide range of financial services, including loans, deposits, and commercial lending[1].

An important aspect of Erste Group is its commitment to social banking. The initiative, which began in 2006 with the establishment of the Second Savings Bank, aims to support people in financial distress by opening accounts and providing advisory services. In addition, Erste Group offers microfinance services in rural areas and supports entrepreneurs, small businesses, and social organizations through lending and other support programs. To date, over 595.6 million euros in funding have been provided through these initiatives, contributing to the creation or preservation of 100,000 jobs[1].

The ERSTE Foundation, founded in 2003, is the largest savings bank private foundation in Austria and the main shareholder of Erste Group. It has evolved from the Erste österreichische Spar-Casse and is committed to the common good in Central and Southeastern Europe. The foundation invests parts of its dividends in the social development of the region, focusing on supporting civil society initiatives, the inclusion of socially disadvantaged groups, and the promotion of contemporary culture[4].

The ERSTE Foundation is characterized by its non-profit orientation and sees it as its social responsibility to provide people in its region 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[5].

The ERSTE Foundation is committed to various sustainable goals, including supporting social innovations, promoting financial literacy through programs like the Erste Financial Life Park (FLiP) and the Time Bank, a volunteer portal that connects employees with partner organizations. Additionally, the foundation invests in the development of new digital methods, in training and organizational development of NGOs, and in expanding networks of sustainable social enterprises[2][4].

Another important aspect of the ERSTE Foundation is its cultural engagement. The foundation supports contemporary visual arts and promotes artists and cultural creators who critically engage with social developments. The Contact Collection, which has existed since 2004, includes over 1,400 artworks by about 160 artists and artist groups and serves to preserve and promote art in the regions where Erste Group operates[5].

The ERSTE Foundation is engaged 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 addresses the political and social transformations in Europe over the last 35 years. Additionally, the foundation regularly organizes events and discussions on current social and political issues[5].

• 1 - https://de.wikipedia.org/wiki/Erste_Group
• 2 - https://www.erstegroup.com/de/ueber-uns/nachhaltigkeit-esg/esg-social
• 3 - https://www.erstestiftung.org/de/die-geschichte-der-erste-stiftung/
• 4 - https://de.wikipedia.org/wiki/Erste_Stiftung
• 5 - https://www.erstestiftung.org/de/stiftung-von-innen/