Česká spořitelna and its CSR activities

Česká spořitelna is the largest bank in the Czech Republic – it has the widest network of branches and ATMs, more than 5 million clients use its services, and the functioning of the Bank is ensured by its 10 500 employees. This size has logical consequence in the fact that Česká spořitelna feels a responsibility towards the society in which it operates. Since its inception in 1825, the company has been actively involved in public life. The first savings institutions in the territory of the present Czech Republic were founded at that time in order to assist the poor and middle class to achieve greater economic independence. The principle of social responsibility continues to this day at Česká spořitelna. As a bank, it is logically only natural to engage in the area of financial education, and to teach the Czech public to manage its finances better. Česká spořitelna implements a number of training programs in the field of Finance for all ages, from children to senior citizens. A second key area for its socially responsible strategy is social enterprise development.

Anonymous passbooks were canceled in 2002 by the European Union and subsequently by the Parliament of the Czech Republic. The legal obligation to pay out the money from these passbooks terminated at the end of 2012. All unclaimed deposits therefore became the property of the managers of these funds. Česká spořitelna voluntarily decided to extend the time limit for paying the deposits until the end of 2015. Česká spořitelna is well aware of the origins of the newly acquired funds and knows that this money is a result of fair savings by people who had often been saving it for several decades. The bank has therefore decided to return all the remaining funds to the Czech society through a new Foundation.