Taking responsibility.
From the very beginning.

The Founding Principle and the Future

An interview with Eva Heigl and Gerhard Fabisch

How is the founding principle of 1825 kept alive today? Is the Steiermärkische Verwaltungssparkasse a modern patron of the arts? What role does it play in creating a future worth living?

Eva Heigl, Chairwoman of the Management Board of Steiermärkische Verwaltungssparkasse, and Gerhard Fabisch, Chairman of the Management Board of Steiermärkische Sparkasse, provide the answers.

Looking back from the past to the present, the idea of a savings bank is now almost 200 years old in Styria. What is left of that idea today?

Eva Heigl:  Our mission is as relevant today as it was then. Our goal is still to offer people in our region autonomy and financial independence so that they can make better use of their opportunities in life. This form of sustainability in the founding principle of the savings banks has remained unchanged for generations and will continue to do so in the present and the future. As an owner with a long-term perspective and a focus on stability, we support and promote Steiermärkische Bank und Sparkassen AG as an operating unit so that it can implement these goals in its daily business in the best possible way.

If, like you, one is responsible not only for long-term strategic considerations, but also for decisions affecting day-to-day business: Where is the Sparkasse concept reflected in your daily thoughts and actions?

Gerhard Fabisch: It is often a balancing act to decide in favour of business necessities such as efficiency or profitability in day-to-day operations while still keeping the fundamental values of Steiermärkische Sparkasse in mind. Because even the sustainable and supposedly selfless goals of the founding concept require successful operational activities in order to be implemented. As Steiermärkische Sparkasse, we are concerned with all the people in our regions. This in turn means that there are both promising and challenging phases and subject areas. As Steiermärkische Sparkasse, we embody our founding principle — to be a bank for everyone.

In accordance with its certificate of incorporation, Steiermärkische Verwaltungssparkasse fulfils the task of accompanying the people of Styria on their journey from the present to the future. In doing so, the self-determination and responsibility of each individual also needs to be taken into account. How does this happen?

Eva Heigl: The diverse charitable projects that we support provide assistance for self-development in numerous areas. This is what distinguishes our activities from patronage, which is characterized by benevolent donations based on goodwill. As Steiermärkische Verwaltungssparkasse, we want to provide start-up financing and thus secure the basis for the further economic progress of projects. This is why, for example, financial education is such an important topic for us not only in Styria, but also in our associated countries in Southeastern Europe. In Southeastern Europe in particular, we want to inspire the younger generation to stay in the country and build and expand their livelihoods there. The projects we promote should actively support this.

Gerhard Fabisch: We also secure these goals through a responsible and long-term oriented dividend policy. Rather than exhausting this, we prefer to focus on security and stability to ensure that we can fulfil all obligations to our customers and society even in times of economic challenge.

Independence and responsibility have always determined the path of Steiermärkische Bank und Sparkassen AG as an operating company. How do you feel about an owner like Steiermärkische Verwaltungssparkasse?

Gerhard Fabisch: Steiermärkische Verwaltungssparkasse is a responsible and long-term oriented owner that does not allow itself to be dazzled by hasty quarterly thinking. This does not mean that we ignore current developments, but we are not concerned with looking at every promising temptation on the capital market. Our owner relies heavily on stable value growth. In order to safeguard this and to be able to confidently navigate difficult economic times, we deliberately avoid erratic upward and downward developments.

Now let's consider this from a different perspective. What possibilities does Steiermärkische Verwaltungssparkasse have to influence Steiermärkische Sparkasse itself? How much control and coordination actually takes place?

Eva Heigl: On the one hand, Steiermärkische Verwaltungssparkasse decides on the distribution of dividends and helps to build up capital through responsible and long-term thinking so that Steiermärkische Sparkasse can take advantage of its opportunities, like those abroad, for instance. On the other hand, Steiermärkische Verwaltungssparkasse elects the members of the Supervisory Board of Steiermärkische Bank und Sparkassen AG, whereby we indirectly appoint the members of the Executive Committee of the public limited company. In addition, as Steiermärkische Verwaltungssparkasse, we set the long-term course of the company and see ourselves as part of the Sparkassengruppe (savings bank group). The decision in favour of this long-term strategic orientation and the associated cross-guarantee system of the Sparkassen (savings banks) has had a decisive influence on the development of Steiermärkische Sparkasse.

Steiermärkische Sparkasse has always placed people at the centre of its thoughts and actions. How does Steiermärkische Sparkasse Group succeed in communicating the founding idea to its more than 3,180 employees in Styria and its extended home market in the Western Balkans?

Gerhard Fabisch: There are several anchors here that sustainably safeguard our mission through the formulation of annual plans, employee appraisals and, of course, job descriptions. It goes without saying that integrity, sustainability, and the benefits of what we do for people must be considered in our planning. Furthermore, our employees are actively involved in many of our charitable activities. I would like to highlight Zweite Sparkasse (the bank of second chances) as a good example of this. It's important to communicate these topics via our intranet and bring them to life, and of course to exemplify the values of Steiermärkische Sparkasse itself by acting as a role model and through our treatment of employees. After all, it is the little building blocks in our decisions affecting shareholders, customers, and employees that make our values tangible too.

Now, let us discuss the value framework that Is managed and protected by Steiermärkische Verwaltungssparkasse. How do you view yourself in your dual role? You yourself are also part of the executive committee. 

Gerhard Fabisch: When you have been taking responsibility the way Steiermärkische Sparkasse has and define the self-image as we did almost 200 years ago, then there is only one path for both the operational unit and Steiermärkische Verwaltungssparkasse as the owner. We often practice patience, while the capital market is usually impatient. We take smaller risks; however, this ensures that we accumulate capital long-term. And we don’t forgo successes or the economy just because we plan and think long-term

As head of Kreuzschwestern Europa Mitte GmbH, you’ve dedicated your daily working life to society in terms of Christian values. What synergies are there between the two functions in your opinion?

Eva Heigl: The Kreuzschwestern have been established for over 160 years. Public interest and innovation have always shaped them. The goals we pursue are sustainable and socially focused. Of course, we need to earn the money we invest in our projects. Finding the balance between the Christian value system/our non-profit status and economic efficiency is just as challenging for the order as for the Steiermärkische Verwaltungssparkasse. I, personally, find this quite exciting and, most of all, meaningful. So, for me, being able to join both institutions for part of their journey really is an interesting and rewarding task.

To conclude this interview, let us have a look at the future of the Steiermärkische Verwaltungssparkasse. How will it develop in the next ten to twenty years? How will the tasks and mission change?

Eva Heigl: It is important that we as the owner change very little to allow Steiermärkische Bank und Sparkassen AG, as an operating company, agility in the market and let it actively shape the future. And Steiermärkische Verwaltungssparkasse should continue to remain the stable and long-term base.

Gerhard Fabisch Steiermärkische Verwaltungssparkasse therefore fulfils a similar role to that of a foundation, which acts as a facilitator and a stabilising factor, enabling Steiermärkische Sparkasse to develop positively through the generations.