Last update: 06/12/2019

Banking that matters: Erste Social Banking impact report

Friday, 6 December, 2019

Our associate member Erste Social Finance supports via its Social Banking programme starting entrepreneurs, microfinance businesses, social organisations and people in financial difficulties. This week, Erste has published the second impact report on its social banking activities.

Erste’s Social Banking programme collaborates closely with a broad variety of local partners – offering a set of measures ranging from access to finance up to mentoring and training. This collaboration ensures that funding translates into sustainable and measurable social impact – such as the creation of 15,000 new jobs and the preservation of 30,000 jobs across the region. 

 
Since its start, Erste’s Social Banking financed 3,100 starting entrepreneurs and almost 7,000 microfinance businesses in order to fight unemployment in rural areas across CEE. For a third of entrepreneurial clients, a start-up loan meant a path from unemployment to their own business – not only for themselves but also for others: On average, every starting entrepreneur creates two further jobs in a local community. 50% of these entrepreneurs report that starting or expanding their business without Erste’s support would have been impossible. In addition, Erste disbursed to these clients more than EUR 160 million in loans
 
Read the complete impact report