Savings Banks Group's Sustainability Report 2018

We want sustainability to be reflected in everything we do – in how we relate to our customers and our partners, our operating area, the authorities and other stakeholders. Each year, we publish the Savings Banks Group Sustainability Report, in which we present information on sustainability as well as key indicators referenced to the international GRI reporting framework (GRI referenced).

Social responsibility is one our most important and prominent values

Our banks base their operations on helping our customers to take care of their finances and to prosper. We actively promote the wellbeing of our customers and the local communities. Since the founding of Savings Banks Group, we have directed a proportion of our profits to enhancing welfare within local communities. 

Examples of our donations 

  • We made financial contributions to work with children and young people, war veterans, the elderly, junior sport as well as other leisure activities.
  • Through the Savings Banks Research Foundation, we granted scholarships to university researchers and research projects.
  • We also contributed considerable sums to non-profit purposes across Finland though savings bank trusts owning limited liability-format Savings Banks.

How do our social responsibility efforts impact our customers?

Social responsibility impacts customers through investments in the Savings Bank experience and information security, as well as equal treatment of customers.  

The key values observed in the Savings Banks Group’s advisory services are integrity, accessibility and transparency. Our employees have a particular responsibility to ensure that our customers receive information in accordance with good business conduct. We strive to ensure that customers are aware of the consequences of their financial decisions, including the potential risk of losses.

Responsibility for the environment through personnel and investment efforts

We also recognise our role in promoting environmental responsibility. We encourage our employees to use public transport, replace business trips and meetings with telephone and video conferences, and we prioritise eco-friendly alternatives in purchasing. 

Investments may, however, involve indirect environmental impacts. Responsible investment refers to accountability in matters related to the environment, society and good governance (ESG factors) in investment operations.

Financial responsibility

Financial responsibility refers to good profitability, capital adequacy and liquidity, good governance and responsible leadership. We want to ensure that our customers and partners are able to rely on our judgement and sense of responsibility in all circumstances.

To maintain financial responsibility, all entities within the Savings Banks Group have to ensure their capital adequacy and liquidity even in poor economic conditions. 

Responsibility for promoting financial well-being among our customers

A particular feature that applies to Savings Banks is that they are taking responsibility for promoting saving and financial well-being among the local population. For example, we only provide our customers with loans and credit that they can manage without straining their finances.

Responsibility for the Finnish economy – all taxes paid directly to Finland

We are a wholly Finnish banking group. The 23 independent Savings Banks that form the Savings Banks Group pay all of their taxes directly to Finland. They do not participate in controversial tax planning practices. In 2017, we paid EUR 16.3 million in income taxes. 

Job creation and active development of the banking sector

Savings Banks Group employs financial and service industry professionals around the country. Through its presence on the various committees of Finance Finland, the Group contributes actively to the development of the Finnish banking sector. In addition to our own personnel, we have an indirect employment effect in Finland through purchasing, for example. 

The themes highlighted in the report were selected on the basis of a materiality analysis. The report includes the non-financial information required by the Finnish Accounting Act. 

Read the Savings Banks Group’s Sustainablity Report 2018 (pdf)


More information:

Savings Banks Group promotes the financial wellbeing of individuals and the community. We want to be known for our courage, expertise and passion for delivering excellence to our customers. Savings Banks Group consists of local savings banks across Finland and the Savings Bank Centre. In addition to comprehensive retail banking services, we provide our customers with investment, real estate agency and insurance services.