A conversation on values, impact and long-term commitment to society
Over the past two decades in Serbia, Erste Bank has built a strong reputation as a company that places corporate social responsibility at the core of its business strategy. On this occasion, we speak with Sonja Konakov Svirčev, Manager for Corporate Social Responsibility, Diverst, and Inclusion, who has been dedicated to this field since Bank began operating in the Serbian market.
As someone with extensive experience who has followed the development of corporate social responsibility from the outset, how would you compare the approach to this topic then and now?
Corporate social responsibility, as a strategic approach involving the proactive and ethical management of a company’s impact on the community and the environment, has been part of the business world for over two decades. What has changed is its status, shifting from a “noteworthy topic” to a key factor in building trust, a foundation of long-term strategy, and in some cases, a condition for survival. Companies that recognised the importance of responsible business early on and embedded it into their foundations have proven to be more resilient during major global crises.
How does Erste Bank view corporate social responsibility, and what does it specifically mean for the Bank?
From its very first day in Serbia, Erste Bank set out a strategy of socially responsible and inclusive business, fully integrated into all aspects of its operations. For us, social responsibility is reflected primarily in how we care for our employees, how we build relationships with the clients, and in the impact we have on the communities in which we operate. This is reinforced through responsible corporate governance, the careful selection and monitoring of suppliers, as well as clear environmental goals and active efforts to combat climate change.
You were among the first to recognise the importance of financial education and have implemented several initiatives to promote financial literacy.
We firmly believe that building a financially sound and prosperous society requires continuous efforts to improve financial literacy. We are incredibly proud of everything we have achieved in the field of economic education, awareness, and empowering individuals towards financial independence. Our free educational platform, #ErsteZnali, now has around 6,500 registered users. We have placed a particular focus on young people. In 2020, in collaboration with the Ministry of Education, we launched the “Money School for Primary Pupils” project, which involves training teachers to impart financial literacy knowledge to pupils. To date, the programme has reached nearly 200 schools and trained more than 1,300 teachers. We further expanded this initiative by publishing the book “Guardians of the Dragon’s Treasure” and developing a mobile game of the same name for children aged 7 to 10, which has been downloaded 15,000 times to date.
Erste Bank approved its first loan to a social enterprise back in 2011. Today, you are recognised as a leader in this field. What exactly is social banking, and why is it important?
That partnership taught us a great deal, and the experience became the foundation for developing our social banking line, which we officially launched in 2016, as the first bank in Serbia to do so. Social banking is our way of responding to the needs of those with limited access to traditional banking services, such as start-ups, social enterprises, and non-profit organisations. To date, through this line, we have supported more than 600 start-ups and 38 non-profit organisations with a total of €7.7 million. At the same time, nearly 11,000 individuals have received various forms of non-financial support and mentorship.
Having recognised climate change as one of the greatest challenges of our time, Erste Bank has been actively engaged in tackling its effects for years. It has positioned itself as a market leader in green finance.
We are indeed leaders in this field—so far, we have financed over 80 renewable energy projects, with a total value of €400 million. Either independently or in cooperation with other financial institutions, we have contributed to the development of nearly 800 MW of green energy, accounting for over two-thirds of Serbia’s newly built renewable energy capacity. Wind farms, solar power plants, and biogas facilities are just part of our portfolio, clearly demonstrating our strategic commitment to a sustainable future.
WWhen it comes to community investment, which themes are central to your focus?
We pay special attention to the themes we support—these include culture and the arts, financial literacy, entrepreneurship development, gender equality and women’s empowerment, science popularisation, and sports for children. We carefully select partners who share our values, and it’s important to us that every project leaves a tangible impact. To date, through our sponsorship and donation programme, we have supported more than 1,200 initiatives and projects, with a total investment of €5.3 million.
Your efforts in the field of socially responsible and inclusive business have not gone unnoticed. In recent years,achievements.
We are very proud of the recognition we’ve received from the professional community in recent years—from being named a “Sustainability Champion” by the Responsible Business Forum, to the “ESG Leader” award by PwC, and the award for “Most Inclusive Employer”. These acknowledgments are certainly a strong motivation for us to keep moving forward, while also raising the bar for our future goals.
Real change begins with brave decisions
Finally, what would you say to younger generations, as a woman who has spent two decades working in the field of social responsibility and is recognised as a leader in this domain?
Being socially responsible means having the courage to make decisions each day that don’t focus solely on short-term gain, but consider the bigger picture—people, communities, and the future we’re building together. It’s not always easy to choose the harder, but right, path. Yet those moments often lead to the most valuable outcomes. When you see your efforts pay off, when your idea brings about real change, that’s when you feel that quiet yet powerful sense of purpose and pride. That’s what keeps you going. Believe in what you do, be persistent and brave, because every step you take on that path is worth it.