Sustainability Pages

Financial inclusion

Access to credit and financial inclusion

It is particularly important for the Bank to support vulnerable people and social groups both through dedicated projects and with specifically designed products for them, thus helping to ensure a fair distribution of resources.

Small Business

The Russian-Ukrainian war following the outbreak of the coronavirus as well as the energy crisis across Europe have left many businesses in a difficult situation, so the purpose of the state-subsidised schemes available under the Széchenyi Card Programme MAX in 2022, then the Széchenyi Card Programme MAX+ in 2023 continue to be to support these businesses in restarting and accessing funds. 

For customers with existing loans, the CIB Green Wave Extra Exit Credit, the Exit CIB Active Loan and the CIB Partner Exit Mortgage Loan are solutions for, among others, the redemption of debts accumulated during the moratorium period. The EXIT products mentioned will be available from March 2023 with fixed interest rates and grace periods as well.

In the first quarter of 2022, the online Welcome Vario (pre-approved) lending process was launched, which is available for both sole traders and businesses in the small businesses segment and allows for fully online administration from application to contract signing, which is done electronically. The group of 31 beneficiary customers in 2022 increased by a further 15 customers in 2023, with the amount disbursed increasing from HUF 23,69-0 to a further HUF 32,11-0 in 2023. 

The electronic channel migration has enabled not only SMEs and large companies, but also a considerable number of small businesses (and even sole traders) to migrate to the CIB Business Online platform, which is an electronic channel with a wide range of functionalities – e.g. multiple transfers, direct debit orders, extensive forms and self-administration functions – thereby replacing many previously paper-based processes.

In addition, for recently established small businesses and other customers with a low number of transactions, the Bank offers the Partner Start Account Package, which provides them with a cost-effective means of conducting their banking. As part of this package, CIB waive the following fees during an initial discount period:

• CIB Bank Mobile Application and CIB Internet Bank / CIB Bank Online registration fee (which is usually payable at the time the bank account agreement is concluded)
• CIB Bank Mobile Application monthly fee
• Bank card fee in the first year (Visa Compact business card)

Discounts on transactions on the electronic and CIB Business Online channels (HUF and FCY payments, HUF payments via GIRO to the tax authority (NAV) account (on all the electronic channels)). 

The above discounted rates are valid for account turnovers of at least HUF 40 000/month. The account package can be offered to both individual and corporate businesses, but the main target group is newly established businesses.

Education and spread of financial culture 

It is very important for the Bank to provide its customers with what CIB terms as “real opportunities”, i.e. genuine opportunities rooted in the real economy, that will have a profound impact on their businesses over the long term, as this will encourage them to take responsible, carefully considered financial decisions in full knowledge of the possible outcomes and the risks involved. The Bank is aware of its responsibility to shape the financial awareness of its environment, and is therefore actively involved in programmes focusing not only on improving financial literacy. Financial education and familiarisation with matters financial cannot be started early enough and schools have a decisive role to play in this. The Bank helps them in this objective by participating in two programmes that focus on developing the financial awareness of primary and secondary school students. 

From the very beginning, the Bank has participated – at the initiative of the Hungarian Banking Association – in the Pénz7 (Money7) series of programmes launched with the professional support of the Pénziránytű Foundation, thereby joining the European Money Week initiative. 14 colleagues participated in the programme as volunteers with holding online financial education classes. 

The Bank participates in financial education initiatives launched by its Parent Company, such as:

• In 2017, the “Art of Saving” initiative was launched, which is a financial education programme linked to the World Savings Day on 31 October. Since its inception, it has organised a number of initiatives and workshops, including face-to-face sessions in schools as well as online formats also promoted through the bank’s communication channels. In 2023, the Bank's volunteers gave financial education lessons to a total of 90 students aged between 10 and 18 (212 in 2022).  
• In 2023, the Bank joined its parent bank's latest initiative, the Money Master Challenge, a playful financial quiz challenge for seventh-grade students. 62 students participated in the national round in February 2023, and the international round took place in March.
• The S.A.V.E Ambassador programme is a special initiative in the framework of which higher-grade secondary school students are actively engaged in learning about sustainability and social inclusion. The international round of the programme was held in January 2023, in which the Hungarian team came third.

In 2022, the Bank joined for the first time as a sponsor of the national financial awareness competition “Become a Junior Financial Achiever!” and continued to support it in 2023. The spring round of the competition was open to high schools, while the autumn round to technical and vocational schools. The organisers have set up the programme specifically for educational purposes, to give students the chance to gain practical knowledge in a playful way. They are specifically targeting an increasing number of students from less privileged backgrounds. Financial educational materials for students from technical and vocational schools have been compiled and supervised by experts for the competition, which help them learn about everyday finance based on real-life situations. The jury for the spring and autumn rounds of the competition was composed of 13 volunteers.

Downloadable material