UniCredit Bank Austria launches Social Impact Banking
- Social Impact Banking is based on three pillars: 1. microfinancing for micro-enterprises, 2. financing and promotion for organisations and enterprises with a positive social impact, 3. financial education and inclusion
- UniCredit Bank Austria complements its current social commitment
UniCredit Bank Austria has launched Social Impact Banking and strengthens its social commitment in Austria. Social Impact Banking is built on three pillars. UniCredit Bank Austria will
- provide microfinancing for micro-enterprises
- identify, finance and promote organisations and enterprises with a positive social impact
- share its financial and business know-how through educational initiatives within the framework of financial education and inclusion dedicated to social enterprises and vulnerable or disadvantaged groups, including young people, the elderly and others at risk of social exclusion.
This approach seeks to generate both, wider societal benefits as well as sustainable economic returns on the bank’s investments which will be reinvested in further Social Impact Banking initiatives.
The engagement of the bank’s employees is a key driving force behind the training and support activities provided through Social Impact Banking. This helps to build valuable networks within the communities where UniCredit Bank Austria operates, bringing people together to share positive experiences and raising awareness of relevant projects to increase their potential societal impact. Social Impact Banking also has a strong focus on the monitoring and measurement of outcomes, which is essential for ensuring the sustainable growth of both the sponsored projects and the bank’s investment returns.
Robert Zadrazil, CEO of UniCredit Bank Austria, commented: “We want to be a driver and facilitator of change in order to improve our society. To do well, we have to do good. This is our conviction. With Social Impact Banking, we are therefore expanding our social commitment in Austria beyond cultural and social engagements, sponsorships or donations. Our goal is not to maximize an economic return, but to help building a fairer and more inclusive society”
The launch of Social Impact Banking in Austria follows the successful introduction in Italy in December 2017. UniCredit is currently extending this new form of social engagement on a gradual basis to ten additional markets of the Group in 2019, including: Germany, Austria, Serbia, Croatia, Hungary, Bulgaria, Romania, Turkey, the Czech Republic and Slovakia, and Bosnia & Herzegovina. The Social Impact Banking model to foster positive social impacts will be adapted in each market according to local needs. The extension of Social Impact Banking in 2019 underlines UniCredit’s strong commitment to helping to develop the communities in which the Bank operates. The further rollout will also be supported by a sale of UniCredit’s local art collections, whose proceeds will primarily be reinvested in SIB initiatives. The rest of the proceeds will be dedicated to other relevant projects, including the local support of young artists.
Social Impact Banking of UniCredit in Italy has approved 72.9 million euros of impact financing in its first year of operations. In addition, 25,300 students as well as 370 UniCredit tutors have been involved in the financial education programmes provided through Social Impact Banking. They delivered a total of 1,245,000 certified training hours. See more details on the key achievements of Social Impact Banking in Italy at https://www.unicreditgroup.eu/en/a-sustainable-bank/social-impact-banking.html
UniCredit Bank Austria Press Office
Matthias Raftl, Tel.: +43 (0) 5 05 05-52809;