ESBG Swedish member savings banks' local Covid-19 efforts
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BRUSSELS, 19 June 2020 – Sparbanken Skaraborg, together with its owner – Sparbanksstiftelsen Skaraborg – launched in April the largest corona support to date among Sparbanks in Sweden to help in the wake of the pandemic. Located in the Western coast of the country near the Norwegian border, the savings bank provides through its Sparbanksstodet, or “Savings Bank Support”, a chance for moratoria relief and extra advice rolled out in the bank's business area and giving people a chance to get support they need.
At the time of writing, 48 applications for loss of income among associations and organisations and eight applications for business promotion initiatives have been submitted to the Sparbanks Foundation Skaraborg. Of the 12 million allocated, SEK 3,250,060 (€1.34 million) has now been granted and is on its way out to associations and organizations.
Liselotte J. Sterneborn, chair of the Sparbanksstiftelsen Skaraborg, said: “We knew when we launched the Savings Bank Support that we could make a difference and now we see how it is also starting to roll out. It feels fantastic to help and the best part is that we can still help more. ”
“Among the 58 independent savings banks that exist in Sweden, our support is the largest that has been given so far and we are really proud of that. Just as Liselotte says, we know that this makes a difference for our business area, ”continues Patrik Meijer, chief executive of Sparbanken Skaraborg, part of the Swedish Savings Banks Association, a ESBG member.
The bank continues to offer moratoria relief, extra advice and liquidity support to private and corporate customers. Offers appreciated by customers.
Meijer concluded: “Our customers' situations are individual and that is also how we handle them. Our heart beats for our customers. And in coronation times, as well as otherwise, we are keen to find good solutions for each one.”
Why its important
As Covid-19 affects communities around the world, many have been hit hard. One of the tasks of the Sparbanks Foundation Skaraborg is to contribute to growth and development on our own initiative and in collaboration within our business area . Needed now more than ever, their efforts help actors in the area continue to contribute to being an attractive place to live, live and work. As associations, non-profit organizations and business-promoting organizations (not individual companies) can apply for our support, the application is made via links for two areas of support. Savings bank support grants accept applications from the market areas served – Skara, Vara, Götene and Essunga municipalities.
The banks continuously update customers on the Covid-19 situation on how they as bank customers are affected. Private customers have the opportunity to apply for an amortisation exemption – also known as a moratorium – for their loans if their financial situation has been affected by the spread of the Covid-19. The savings bank foundation also deployed support measures for sports and cultural associations that have the purpose of general social development, the foundation notes, with focus on associations and organszations where it sees a dramatic impact on the orgainsation due to the current pandemic. This matters because cultural events done in the region create an attractive place for people to live, live and work. Small and medium-sized companies served by the Sparbanks Skaraborg business area contribute to growth, jobs and also contribute to creating an attractive place to live, live and work. The bank provides solutions to safeguard this by supporting business-promoting organisations.
A helpful Q&A section helps guide people through the application process.
>> Learn more about Sparbanksstodet – Savings Bank Support
About the Savings Bank Foundation Skaraborg
Formed in 2000 when Skaraborgs Läns Sparbank was converted into a public limited company and at the same time became sole owner of Sparbanken Skaraborg, the Savings Bank Foundation Skaraborg foundation aims to promote thrift by working as shareholders in Sparbanken Skaraborg AB to maintain and develop the savings bank's basic ideas and values. Preferably within the bank's business area, which are Skara, Vara, Götene and Essunga municipalities. Through a dividend from the bank, the foundation can make grants that promote the savings bank's and business area's development.
About the Savings Banks' Riksförbund: The Swedish savings bank assocation
An industry body for 58 savings banks and 24 owner foundations, the association of Swedish savings banks safeguards the interests of its members. Savings banks are located in market areas widely spread across Sweden. Together, the country's savings banks make up a significant part of the financial infrastructure outside big cities. Located in Stockholm, the association represents the member companies vis-à-vis the authorities and organisations and also serves as the referral body and negotiating party in matters of importance to its members.
Savings banks have the same basic values and work with their unique business model based on three basic principles: Focus on the local geographic market and customers; rhe protection of long-term and moderate risk-taking in all financial decisions; an ownership form without individual profit maximising principal, where the surplus is returned to the community.
As the savings banks' interest organization, the association also has the task of developing and managing Swedish savings banks' cooperation with Swedbank. The collaboration that has been established for a long time includes common IT solutions, development of new banking services or regulatory management, among others.
>> Learn more about association member actions around Covid-19