Komerční banka, a.s.
KB SUSTAINABILITY 
REPORT

2
Summary of information on ESG topics 
AVERAGE FTE NUMBER OF EMPLOYEES IN 2021
 KB Group
 Komerční banka  
	 7 687
	 6 736
	 6 694
	 4 044
	 2 650
	 42
 of whom in Czech Republic   
 of whom in Slovakia   
 of whom at the head office 
 of whom in the distribution network 
We have 166 branches and 
785 ATMs that are accessible 
without any barriers. 
In 2021, we reduced our gender pay 
gap to 4.2%. This gap is reported to 
be around 10% in the Czech market.
Since 2019, we have been measuring 
and auditing our own carbon 
footprint and we are on the path 
towards carbon neutrality by 2026. 
In 2020, the bank’s total emissions 
declined by 35% year-on-year.
We have committed to progressively 
reduce to zero by 2030 our funding 
of clients’ activities in the coal 
sector.
Beginning in April 2021, we also 
assess and classify our investment 
loans in terms of their ESG benefits 
under the EU Taxonomy rules.
 
	
Electricity (47%) 
	
Investments (21%)
	
Heat (10%)
	
Natural gas (7%)
	
Fuel for company cars (5%)
	
Employees’ commuting 
	
to work (4%)
	
Air conditioning (2%)
	
Waste (1%)
	
Other (3%)
The final measurements for 2021 will be posted in May.
EMISSIONS BY ACTIVITY IN % (2020)

3
KB Sustainability Report 2021
We signed agreements on ESG investment loans totalling CZK 21.9 billion, of which three quarters 
are beneficial in environmental terms and one quarter in social terms. 
	
Energy efficient buildings (49%)
	
Low emission mobility (29%)
	
Wastewater management (10%)
	
Production - equipment for renewable energy (5%)
	
Renewable energy (3%)
	
Water management (1%)
	
Circular waste management (1%)
	
Sustainable forestry (1%)
	
Photovoltaics (1%)
	
Public education (87%) 
	
Public healthcare (7%)
	
Retirement homes (3%)
	
Social housing (2%)
	
Employment support for the developement of SMEs (1%)
We offer loans for 
sustainable equipment, 
which a total of 147 
clients used, borrowing 
more than CZK 35.5 
million.
Our new payment cards, 
made 85% of recycled 
materials, were named as 
the best innovation. We 
have issued over 20,000 of 
these cards.
In partnership with ČEZ 
ESCO and SGEF, we 
launched a new product, 
Photovoltaic for one 
Koruna. A power plant 
with a capacity of 100 kWp 
saves 47 t CO2 per year.
We extended our vehicle 
fleet to include 131 
electric vehicles.
The Jistota Foundation 
distributed almost CZK 
20 million, of which CZK 
7 million as humanitarian 
assistance for southern 
Moravia hit by destructive 
storms and a tornado.
We became a Main Partner 
of Czech ice hockey.
We confirmed our 
inclusion in the 
FTSE4Good Index and 
MSCI and we were named 
as the best bank in the 
Czech Republic in 2021 by 
the renowned magazine 
The Banker.
Komerční banka won The 
Sustainable Bank of the 
Year and The Corporate 
Bank of the Year 
categories and our last 
year’s KB Sustainability 
Report 2020 was awarded 
by the expert jury of the 
SDG Awards.
ENVIRONMENTAL AGREEMENTS BROKEN
DOWN BY CATEGORY (%)
SOCIAL AGREEMENTS BROKEN 
DOWN BY CATEGORY (%)

KB Sustainability Report 2021
4

Last year, we successfully continued to carry out our KB Change 2025 strategy in respect of sustainable business too. In particular, 
we saw an increase in funding for projects closely related to the fight against climate change and for those with a clearly specified 
positive environmental or social impact. 
Over the preceding twelve months, Komerční banka signed 21.9 billion crowns’ worth of contracts for investment loans compati-
ble with the ESG principles. We launched new products supporting sustainable development. We started to issue payment cards 
made of recycled plastics. Under rules based on the EU Taxonomy rules, we are changing our processes to ensure compliance with 
regulation and be able to progressively carry out the related commitments that we have adopted. In this respect, we underpinned 
our objectives by a campaign called O CO2 JDE, which drew the public’s attention to the options for contributing to environmental 
improvements. As part of our drive to achieve carbon neutrality by 2026, we have extended our vehicle fleet to include 131 electric 
vehicles, for which we will roll out 160 charging points. In tandem, we have withdrawn 175 IC vehicles from Komerční banka’s ve-
hicle fleet. 
We are continuously and systematically dedicated to social and societal aspects. We have implemented a strategy of equal remu-
neration for women and men and have pledged to achieve a zero Gender Pay Gap by 2025, having reduced this gap to 4.2% in 2021, 
which was substantively lower than in the Czech market that reported around 10%. Through KB’s Jistota Foundation, we have long 
focused on fostering the palliative care environment in this country, on extending help to those who need it across generations, and 
on providing support for the circular economy. In extreme situations in 2021, we helped the families afflicted by the natural disaster 
in southern Moravia. The process of digitalising banking services is important for our clients. We thus made the retail and corporate 
banking services available to the maximum possible number of clients even during the Covid restrictions. 
Komerční banka applies robust governance in its business and requires its employees to follow KB’s Code of Conduct. The code 
sets out the principles of professional conduct of KB’s employees in the Czech Republic and Slovakia, which arise from regulation 
and also the general rules of ethics. 
Together with our clients, we are building a better and sustainable future through responsible and innovative financial solutions. 
5
Jan Juchelka
KB Chief Executive Officer and Chairman of the Board of Directors

6
KB Sustainability Report 2021

The entire Société Générale financial group, including Komerční banka, continues to reduce its own 
carbon emissions with a view to achieving carbon neutrality of its operation by 2026. In 2020, the KB 
Group’s total emissions declined by 35% year-on-year to 25,049 metric tons of CO2 equivalent, i.e. 
15.2 kg of CO2 equivalent per client. When this report is being released, the results for 2021 are being 
finalised and they will be posted on our website. 
We have launched a number of new products and services on more advantageous terms for corpo-
rate clients and individuals who are betting on sustainability. I would like to underscore the advice 
provided by the KB Advisory team, our recycled payment cards, investing in Amundi, and our financ-
ing. I also regard overall digitalisation, secured operations with data and data streams, the replace-
ment of our main system, and the fact that we are one of the BankID producers as very important. 
Our repeated inclusion in the FTSE4Good Index and also other recognitions from the expert circles 
vindicate the KB Group’s recent moves. Some of the major awards include the naming of KB as the 
best bank in the Czech Republic in 2021 by the renowned magazine The Banker. In their evaluation, 
the jury placed heavy emphasis on, among other things, banks spearheading help to customers and 
to the broader economy in 2021, their ability to continuously innovate, and also on their sustainable 
business approach. In the Mastercard Bank of the Year 2021 competition, Komerční banka won The 
Sustainable Bank of the Year and The Corporate Bank of the Year categories.
Jitka Haubová
Member of KB Board of Directors in charge of Sustainability
7

TABLE OF 
CONTENTS
5 	
Statements
11	 Introduction and Summary of 2021
13	 Ch. 1: Our Strategic Approach to Sustainability
21	 Ch. 2: Environmental Sustainability
29 	 Ch. 3: Social Sustainability
49 	 Ch. 4: Governance
61 	 Ch. 5: Sustainable Financing
71 	 Ch. 6: Sponsorship, Volunteering, and Jistota Foundation
79 	 Ch. 7: KB Subsidiaries
90	 Report Profile
91	 GRI Index
95 	 Annex: Membership of organisations
8

9
KB Sustainability Report 2021

10

The purpose of our existence, our raison d’être, is building to-
gether with our clients, a better and sustainable future through 
responsible and innovative financial solutions. Our vision is to 
be the leader in the new banking era for two million active cli-
ents. Development, responsiveness, and responsibility are the 
pillars of our strategy. 
Despite the continuing covid-19 pandemic, we intensi-
fied our activities in sustainability and corporate social respon-
sibility in 2021. We continued to build a new digital bank (NDB). 
We also developed a new service provision and branch design 
model that is more favourable for advice provision and effec-
tive solution to clients’ various financial needs. The first branch 
based on the new concept was opened in Prague-Dejvice in 
July. In line with the centralisation of the main support func-
tions across the KB Group, the head offices of all subsidiaries 
were progressively moved to the Group’s head office building 
in Prague-Stodůlky, except ESSOX, which continues to be man-
aged from České Budějovice. 
We launched new products whereby we support a sus-
tainable future, such as mutual funds (unit trusts) investing 
in companies running their business in accordance with a re-
sponsible approach to the environment, society, and corporate 
governance (ESG); advice on and funding for energy saving pro-
jects and renewable energy sources (RES); and payment cards 
made of recycled plastics. 
We want to contribute to climate protection by promot-
ing a fair, green, and inclusive energy transition, taking into con-
sideration that not all energy sources are equivalent for con-
sumers in terms of costs, and that the energy sector represents 
thousands of jobs. We have made commitments to counter the 
global warming and to reduce our emissions (Scopes 1 and 2) 
in line with the Paris Agreement’s 1.5 °C scenario. We carry on 
with projects related to reductions in carbon emissions with a 
view to achieving a carbon neutrality of our own operation by 
2026. In 2020, the bank’s total emissions declined by 35% year-
on-year to 25,050 metric tons of CO2  equivalent, i.e. 15.2 kg per 
client. The Preferred by Nature non-profit organisation audits 
the measurements every year. When this report was being com-
piled, the results of measurements in 2021 were not yet known 
and they will be published in May 2022. 
We have also made a commitment to progressively re-
duce our exposure to projects actively associated with the coal 
sector to zero by 2030. On this basis, we no longer grant new 
financial products to clients who have more than 50% of their 
revenue linked to coal. We cannot offer new products or servic-
es to our current clients who have more than 25% of their rev-
enue linked to the steam coal sector if they have not adopted 
a public and time limited transition plan for exiting this sector. 
On the other hand, we support our clients’ activities that 
have a positive influence on the environment. We launched, to-
gether with ČEZ ESCO and SGEF, the Photovoltaic for a Koruna 
project last year. 
In June, KB received a confirmation of its inclusion in the 
FTSE4Good Index of companies with strong ESG practices. 
Expert juries and prominent personalities in the sector 
have appreciated our sustainability activities. For example, 
we were awarded as The Sustainable Bank of the Year in The 
Bank of the Year competition, our CEO, Jan Juchelka, was elect-
ed as the Top Sustainability Responsible Leader of the Year in 
the TOP Responsible Company competition, and the expert jury 
of the SDG Awards, appointed by the Association of Social Re-
sponsibility, awarded our last year’s KB Sustainability Report 
2020 for Reporting. 
More about the awards received on the KB website.
11
KB Sustainability Report 2021
Expert juries and prominent personalities 
in the sector have appreciated our 
sustainability activities.
APPRECIATION
Introduction and Summary of 2021

12

13
KB Sustainability Report 2021
OUR STRATEGIC 
APPROACH 
TO SUSTAINABILITY 
1

This Sustainability Report has a new structure that better reflects the lat-
est developments and discussions. In earlier reports, with worked with six 
pillars (Client Satisfaction; Ethics and Responsible Business; Responsible 
Employer; The Environment; Responsible and Innovative Financing; and 
Sponsorship and Charity); in this report, we have arranged them in a struc-
ture primarily based on the ESG (Environment, Social, Governance) aspects. 
Thus, the topics from previous years are still represented in the new struc-
ture. We take a systematic and meticulous approach to sustainable busi-
ness. We have interconnected the goals related to sustainability with the 
corporate strategy and follow the meeting of each of the various targets. As a 
bank, we have the potential to help to combat climate change and support 
the transition to a carbon-neutral society primarily by funding our clients’ re-
sponsible activities and sustainable solutions. We are aware of this, and are 
therefore continuously broadening the range of our products and services 
that will help to achieve these objectives. 
Our approach to climate change 
Climate change and the manifestations thereof, such as droughts, floods, or 
the changed character of the weather, can significantly affect the revenue 
and also the expenditure of companies and their projects. Investments and 
their value can therefore be considerably impaired. This is one of the reasons 
why we regard climate change as a challenge for which we have to be pre-
pared. It is crucial that we keep seeking innovations that will help us in our 
fight against the adverse impacts. Mitigation and adaptation are frequent-
ly mentioned in connection with reducing the negative impacts of climate 
change. 
Mitigation is understood to be prevention, within the meaning of mit-
igating the root cause. We pursue a large number of mitigation activities in 
our business. We are reducing our carbon footprint and our energy and wa-
ter consumption, and we care about process efficiency. 
More information about these activities is available further in this re-
port and here.
We support projects that mitigate the impacts of climate change. Ex-
amples include investment in more economical equipment, funding of in-
stallations for reducing the release of pollutants into the air, water, or soil, or 
funding of CHP retrofits. 
More information about these activities is available further in this re-
port and here.
Adaptation serves for coping with the impacts of the changing cli-
mate. It therefore means changes and adjustments that help to reduce vul-
nerability to climate change impacts. We fund projects geared towards the 
expansion of green areas in municipal and other locations, improvements in 
biodiversity, or support for farming, thereby helping to adjust to the already 
ongoing changes. 
14
We regard climate change as 
a challenge for which we have 
to be prepared.
CHALLENGE

15
KB Sustainability Report 2021
Governance at KB 
The main owner of the sustainability concept at Komerční 
banka is Jan Juchelka, Chairman and CEO, and the sponsor 
is Jitka Haubová, who serves on the Board of Directors and 
as the Chief Operations Officer. The sustainability activities 
are coordinated by the Sustainability Working Group man-
aged by the bank’s Brand Strategy and Communication. The 
working group also includes members from other key parts 
of the bank (for example, HR, Compliance, Facility Manage-
ment, Risk, and Retail and Corporate Banking representa-
tives) who help to pursue each of the pillars of the strategy 
and to achieve internal OKR (Objective Key Results, former 
KPI). We have included sustainability goals (measured by 
OKR) into the incentive system for senior management and 
responsible employees. The content of the strategy and the 
practical implementation thereof are regularly presented to 
the Board of Directors, who are kept posted about the ac-
tivities and provide the project team with their feedback. 
By the same token, this Sustainability Report was laid be-
fore the Board of Directors and SEC (Strategic Executive 
Committee) before publication, and they therefore had an 
opportunity to raise comments; they subsequently also ap-
proved the Sustainability Report. 
Determining topic materiality 
To determine the key areas that we cover in our sustainability 
drive we have relied on a variety of sources and discussions. 
For example, we regularly conducted targeted interviews 
with major stakeholders: clients, investors, and employees, 
and with KB’s sponsors for each of the areas. To update the 
set SDG (Sustainable Development Goals) priorities, we en-
gaged in a dialogue across the bank, which we describe in 
more detail below in this chapter. As part of this determina-
tion, we took into account the positive and negative impacts 
that were capable of affecting our business, society, or the 
environment. We also took into consideration the results of 
many surveys, such as Measuring Stakeholder Capitalism: 
Towards Common Metrics and Consistent Reporting of Sus-
tainable Value Creation, IPSOS – Opinion of the Czech Popu-
lation on Sustainable Development Goals, SDGs, and CSR Eu-
rope & PwC: Collaboration for Impact PwC – SDG Challenge 
2019. Our internal survey indicates that 82% of the employ-
ees regard KB as a sustainable and responsible company; we 
seek to consider and implement their proposals for improve-
ments. 
We have also relied on publicly available sources that 
deal with important topics related to the financial sector, 
such as SASB Materiality Finder – Financials, and WBCSD –  
Reporting Matters (2020 Report). We did not forget to com-
pare our company against other major (peer) financial insti-
tutions. The various key topics and our approach and mea-
sures are described in more detail in the following chapter of 
this report. 
SDGs, Sustainable Development Goals 
SDGs, or Sustainable Development Goals, were adopted by 
all UN member states in 2015 and serve as guidance to ensure 
prosperity and peace for all, build partnerships, provide for a 
dignified life without poverty and inequality, and protect the 
environment. We consider each of the 17 SDGs to be especial-
ly important, and we believe that to at least some extent, we 
are helping to meet them all. In 2020, we worked with SDGs 
for the first time and sought to select the goals that we be-
lieved were the most important for us and our stakeholders 
and that could have a truly positive impact on the society in 
which we carry on business. We considered the selection of 
the most important SDGs with regard to KB’s strategic plan 
and also took into account the priorities of the representa-
tives of the group of investors, and the needs of our clients 
and employees. Each stakeholder had a representative in the 
dialogue. KB’s management discussed the final priorities for 
each of the SDGs with a view to harmonising the selection of 
CEO
Jan Juchelka
COO
Jitka Haubová
Members of the
Board of Directors
Brand Strategy 
and Communication
Hana Kovářová
Sustainability
Working
Group
Board of 
Directors
SUSTAINABILITY MANAGEMENT AT KB

16
KB Sustainability Report 2021
ENGAGEMENT WITH STAKEHOLDERS AND MATERIAL TOPICS
Stakeholder 
Communication framework
Material topics
Clients 
Regular satisfaction surveys and measurements
Quality and availability of products and services
Feedback
Customer service quality
Commercial communication
Transparency
 
Customer experience
 
Digitalisation and innovation 
 
Accompanying clients on their path to sustainability
Employees 
Regular satisfaction surveys
Care for employees and working conditions
Feedback
Remuneration and benefits 
Regular internal communication
Education and professional development 
 
Collective bargaining/trade unions
 
Work-life balance
 
Diversity and inclusion 
 
Communication to employees
 
Corporate culture
 
Feedback gathering
Shareholders/investors 
Events and meetings with investors/shareholders
Company governance
General meetings
Risk management 
 
Honouring of obligations
 
Compliance 
 
Results
 
Comprehensive coverage of ESG topics 
Regulatory bodies (CNB)
Close cooperation with regulatory bodies
Ethics and transparency 
 
Risk management 
 
Compliance
Suppliers
Implementation of responsible sourcing policy
Responsible approach
 
Honouring commercial obligations
 
Reliable cooperation/partnership
 
Transparency of tendering procedures 
Czech Banking Association 
Regular meetings
Formulation of trends
Dialogues in working groups
Market cultivation 
 
ESG Compliance
 
Private sector education 
 
Ethics and transparency 
 
Risk management
 
Definition of standards
Non-governmental and  
nonprofit organisations 
Meetings with representatives of the non-profit sector
Obligations to society and the environment 
Support for philanthropic projects 
Reliable cooperation/partnership
Sponsorship 
Volunteering
Rating agencies
Studies and analyses
Company governance
Regular discussions with financial analysts
Risk management 
 
Honouring of obligations
 
Compliance 
 
Results
 
Comprehensive coverage of ESG topics

17
SDGs with our actual activities and future plans as much as pos-
sible. We thereby initiated open discussion, and various views on 
the issue were heard and considered. 
As a bank, we have the potential to positively influence 
society in two ways: first, by the manner we manage financ-
es, treat resources, and deal with stakeholders, and second, 
through the projects that we finance and support. This division 
helps us to find our way around the SDGs better and to deter-
mine the goals that are the most important for KB. We did not 
just settle with a general association with the selected goals, 
but we have also linked our activities to the level of the SDG tar-
gets. We are thus in a position to focus our efforts more specif-
ically on the goals that we are able and capable of influencing 
as a bank. 
We do not and cannot measure and report all targets. 
Especially in financing, our ambition for the future is to set up 
data collection so that the results are quantifiable and can be 
presented in these reports. We are also working hard on this in 
relation to new EU regulations as well. 
One year later, we have revised the SDGs, both the goals 
and the targets, to make sure that the set priorities continue to 
reflect the current situation. In relation to these modifications 
we have added targets 9.4 and 16.4, which also contribute to the 
meeting of our set goals. We have also newly included SDG 12 
among the goals that we can influence through financing. 
Comments on the Goals Pursued table 
We consider the indicators in the above table to be crucial, and so 
we monitor their evolution year to year and continuously seek to 
improve them. Since we began measuring our carbon footprint, 
we have reduced our emissions by 35%, and in 2020 emissions 
per client amounted to 15.2 kg CO2. Every year, we obtain the re-
sults of carbon footprint measurement only after releasing the 
Sustainability Report, and we keep posting the current results on 
the website. In June 2021, KB’s inclusion in the FTSE4Good index 
was confirmed, and with a rating of 3.3, the same as the year be-
fore. KB is rated BBB in MSCI ESG. The one-notch decrease was 
driven mainly by methodology changes, which had removed 
customer credit quality and debt levels from risk evaluation. 
Our overall energy consumption slightly increased and in 2021, 
we increased the share of bought renewable electricity to 10%. 
This was electricity used in our data centres. In 2021, the num-
ber of employees involved in corporate volunteering rose to 394. 
KB employees can use a paid day off for volunteering. Allocating 
CZK 19,652,913 to non-profit organisations’ projects, the Jistota 
Foundation considerably exceeded the amounts that it had dis-
tributed in previous years. The volume of corporate investment 
loans meeting the ESG parameters increased to 17% year-on-
year. The smaller share of women in managerial positions was 
caused by a reorganisation in the Distribution Network, in which 
the percentage of women in managerial positions is higher. 
2019
2020
2021
2025
SDG 
target
Carbon footprint reduction since the  
beginning of emission measurement
 
35%
*
80% 
CO2 emissions per client (kg)
23
15.2
*
4.6 kg 
FTSE4Good Index Series (maximum 5)
 
3.3
3.3
4+ 
MSCI ESG index
 
A
BBB
AA 
Total energy consumption (MWh/year)
54,660
48,619
 48,635
 
Share of green electricity purchased 
 
0%
10%
50%
Number of employees involved  
in corporate volunteering
537
219
394
1,000
The Jistota Foundation’s amount  
for grants (CZK)
10,418,012
11,065,943
19,652,913
14,000,000 
Volume of corporate investment loans  
meeting ESG parameters
 
11%
 17%
50%
Share of women in managerial positions
48%
46%
44%
 
12.4
13.1
12.4
13.1
16.6
16.6
8.4
12.2
13.3
17.17
9.4
8.8
10.3
7.2
* The final measurements of our carbon footprint for 2021 will be posted in May at 
https://www.kb.cz/en/about-the-bank/everything-about-kb/we-do-business-br-sustainably/environmental-br-sustainability
GOALS PURSUED

KB direct influence
Drinking water and sanitation
We systematically reduce water consumption, and 
by default, we install water saving accessories when 
refurbishing our premises. 
6.4
Ch. 2: Water consumption
Decent work and economic growth
We use resources for our growth so that the environment 
is not degraded. We provide safe and stable working 
environment for our employees.
8.2
Ch. 2: CO2 emissions; 
Ch. 3: Diversity and inclusion, 
Remuneration; 
Ch. 5: Digitalisation and innovation, 
Investment loans with a positive 
impact
8.3
8.4
8.5
8.8
8.10
SDGs
Reduced inequalities
At KB, we tolerate no form of discrimination and integrate 
all not only in employment, but also in providing our 
services.
10.2
Ch. 3: Service accessibility for 
disadvantaged clients, Diversity 
and inclusion, Remuneration; 
Ch. 6: Jistota Foundation 
10.3
10.4
Responsible production and consumption
We use natural resources economically and manage 
waste responsibly. Our ambition is to gradually reduce 
generated waste, thus minimise the impacts of our 
activities on the environment.  
12.2
Ch. 2: Energy consumption, Waste 
management, CO2 emissions
12.4
12.5
12.6
Climate action
At KB, we make efforts to mitigate the impact of climate 
change, and actively search for appropriate solutions. 
Our ambition is to reduce corporate CO2  emissions that 
we already started to measure. 
13.1
Ch. 2: Energy consumption, 
CO2 emissions; 
Ch. 4: Relations with suppliers, 
ESRM; 
Ch. 5: Beginning of the chapter; 
Ch. 6: Jistota Foundation – 
volunteering
13.3
Peace, justice and strong institutions
We respect the law and legislation, we have measures in 
place to fight against money laundering and corruption, 
and we take care to make sure that we are seen as 
a transparent and responsible company.
16.3
Introduction
Ch. 4: Code of Conduct, 
Whistleblowing, AML
16.4
16.5
16.6
Partnership for the goals
We are convinced that through partnership with other 
entities, sustainable development goals can be better 
achieved. We share our knowledge and expertise, and 
provide financing to meaningful projects.
17.16
Ch. 4: Table of external initiatives;
Ch. 3: Financial education 
and literacy; 
Ch. 5: Loans supported by European 
institutions; 
Ch. 6: Jistota Foundation
17.17
18
16.10
SDG Goal
SDG target
Placement in this report

KB influence through financing
SDGs
Drinking water and sanitation
We support projects focusing on drinking water 
improvement and its efficient use. 
6.3
Ch. 5: Investment loans with 
a positive impact 
Affordable and clean energy
We finance investment in energy saving measures and 
gradually increase the use of renewable energy.
7.2
Ch. 5: Investment loans with 
a positive impact 
Industry, innovation and infrastructure
We support the society in which we carry on business by 
building quality infrastructure and improving the quality 
of human life.
9.1
Ch. 5: Investment loans with 
a positive impact, 
KB SmartSolutions and promoting 
start-ups 
9.3
Sustainable cities and communities
We work in favour of cultural heritage protection and 
promote municipal and regional development. 
11.3
Ch. 5: Investment loans with 
a positive impact; 
Ch. 6: Jistota Foundation
11.4
19
Responsible production and consumption
As part of sustainable financing, we also support projects 
focused on responsibility in operation and treatment of 
resources.
12.2
Ch. 5: Investment loans with 
a positive impact 
12.5
The purpose of our existence is building together with 
our clients, a better and sustainable future through 
responsible and innovative financial solutions.
OUR MISSION
9.4
SDG Goal
SDG target
Placement in this report

20
KB Sustainability Report 2021

21
ENVIRONMENTAL 
SUSTAINABILITY 
2

We measure and examine our activities’ environmental 
impacts on a long-term basis. This is not just a fashion-
able trend for us. Some years ago, the bank banned the 
purchase and use of disposable utensils and water in PET 
bottles. Although the covid pandemic disrupted our ef-
forts for some time last year we successfully banned again 
the disposable cups in the company’s cafe and the dispos-
able food packaging in the canteen of the largest building 
of KB’s head office in Prague-Stodůlky, which had been 
introduced on a temporary basis. We first measured our 
carbon footprint in 2019, and then established a plan to 
reduce it and achieve carbon neutrality by 2026. But re-
sponsible operation is not the only line of action that we 
follow in our approach to the environment. As early as 
two years ago, we started to assess our business activi-
ties from the perspective of their (un)favourable impacts. 
Now, we feel this issue even stronger: EU regulation is 
also adding to the pressure. We detail the sustainable fi-
nancing topic in Sustainable Financing below. 
Refurbishment of branches 
In respect of branch refurbishment, we place emphasis on 
sustainable processes and materials. In the recently refur-
bished Prague-Dejvice branch, the floor covering is made of 
recycled nylon, and there are acoustic lamellas from recy-
cled PET bottles below the ceiling. The design is very much 
in favour of greenery, the main purpose of which is passive 
air cleaning. Certain well-selected plant species are intend-
ed for this purpose (such as nephrolepis, whose leaves ab-
sorb harmful substances, e.g., benzene and formaldehyde, 
and increase air humidity). One of the dominant elements 
of the new concept is acoustically insulated lounge seating 
units made from birch plywood. All suppliers have rigorous 
certification (FSC or PEFC). Acoustic foam and acoustic felt 
used in the products are 60-70% recycled. A significant por-
tion of steel, aluminium, and glass is recycled in their man-
ufacture. The Framery boxes also feature very high energy 
efficiency as they consume less than 12W in full operation. 
Energy consumption 
We measure and monitor our consumption of electricity, gas, 
heat, and water at the supply points that are equipped with 
billing and secondary meters. In the case of unmetered prem-
ises, we pay for energy under a contractual agreement; e.g., 
by a ratio determined based on the usable area and number 
of employees. We regularly read and evaluate our energy con-
sumption every month and every year. KB does not own any 
electricity generating plants, such as PV power stations, wind 
power plants, hydroelectric power stations, geothermal plants 
or cogeneration units, etc. Therefore, we currently do not con-
sume electrical energy produced by our own capacities. We are 
now considering the option of installing a rooftop PV panel sys-
tem on the head office building in Prague-Stodůlky. At the time 
when this report was being compiled, preparatory work on PV 
design documents was under way. We buy green energy as 
part of the data centre service from T-Mobile. In 2021, we took 
2,304,800 kWh of green electrical energy, which accounted for 
9.63% of KB’s total electricity demand in 2021. 
Energy consumption outside the organisation is 
measured by secondary meters. Energy provided to other 
entities is deducted from the consumption measured by the 
KB’s main meter. In the case of rented unmetered premises, 
we proceed in a similar way, i.e. by applying the floor area ra-
tio (it is a minimum number of cases). 
KB complies with the legislative obligation under Act 
No 406/2000 on Energy Management. In line with the progres-
sive amendments to this law, we obtain Energy Performance 
Certificates (EPC) for all our buildings with a usable area of 
more than 1,500 m2 (i.e., 50 certificates approximately) and 
those with a treated floor area of more than 500 m2 in which 
we rent out free premises. Under the applicable legislation, 
KB has an Energy Audit drawn up for KB by Enerfis, an energy 
consultancy, in 2020. 
Our two office buildings in Prague-Stodůlky have ob-
tained BREEAM (Very Good) and LEED (Gold) energy certifi-
cates, which confirm their energy performance from an all-
round perspective, i.e., how they contribute to greenhouse 
22
KB’s consumption
2019
2020
2021
Electricity (kWh)
28,778,223
25,565,816
23,932,914
Gas (kWh)
10,128,520
8,942,129
8,955,726
Heat (kWh)
15,599,984
14,000,628
15,630,225
Cooling (kWh)
153,973
111,237
115,664
Total kWh/year
54,660,700
48,619,810
48,634,529
Diesel DA (I)
2,474
1,942
1,275
Water (m3)
62,747
46,298
40,103

23
KB Sustainability Report 2021
gas emissions, their influence on pollution, and how they 
manage waste or land. 
Only heat consumption rose appreciably last year, a 
quite cold winter being the reason. In this context we have 
also modified the algorithm of the heating control system. 
We also registered an increase in kWh consumption in the 
cooling of buildings, in particular during the weather transi-
tion seasons, i.e. spring and autumn. 
Energy consumption is being reduced in many ways. 
During refurbishments and major repairs, we install new and/
or energy saving equipment; e.g. for lighting, we install LED 
lighting fixtures with the DALI control system, we replace at-
mospheric gas boilers with high efficiency condensing boil-
ers, and we install new HVAC units with output control based 
on office occupancy. We take a similar approach to other in-
stallations, such as cooling. All new equipment is designed 
with high efficiency and continuous control, which in turn 
brings energy savings. 
We continue in the Enectiva project, a system that 
compares energy consumption data with technical param-
eters of buildings, including building use, number of occu-
pants, climatic conditions, etc. We evaluate the data and 
determine the values that we should achieve. Based on 
such evaluations we conduct detailed checks of the sites 
with above-limit energy demand. Enectiva brought us en-
ergy savings in the first year of operation, 2020, and also in 
2021. 
Comparing the base period 2018/2019 without the 
Enectiva system in place with the period 2019/2020, the last 
that has been evaluated, the consumption of all types of en-
ergy declined. Year-on-year, heat consumption increased in 
the KB head office buildings compared with 2019/2020. To 
remedy this situation, KB has adopted changes to the space 
heating system control. 
Water consumption 
As with other types of utilities, we record and compare water 
consumption against the number of occupants present and 
the usable area of buildings thanks to the Enectiva project. 
By default, we install water-saving accessories, such as taps 
with aerators or toilets with water flushing control on the oc-
casion of branch refurbishments when sanitary installations 
are part thereof. Water consumption is apparent in the above 
comparison of the 2020 audit and the current Enectiva 2021 
yearly report. 
CO2 emissions 
In 2020, NEPCon – Preferred by Nature first calculated and 
certified KB’s carbon footprint, at that time for 2019. It was 
the same for 2020, when the result clearly indicated our suc-
cess in reducing our carbon footprint, although this trend was 
also due to the covid pandemic when more employees were 
working from home. Nevertheless, the audit has proved that 
following new calculation, the declining energy consumption 
is proof of well-designed energy management. As this report 
was being prepared the carbon footprint for 2021 was being 
calculated. The calculation of KB’s carbon footprint is divid-
ed into three categories: Scope 1, Scope 2, and Scope 3. KB 
is certified under Carbon Footprint Management Standard 
V1. The registration code of the company’s CFM certificate: 
PBN-CFMC-058199. We transparently post the documents re-
lated to KB carbon footprint calculation, the action plan for 
its reduction (2020-2025), and the final report and KB certifi-
cate notification here.
As part of calculating our carbon footprint we have 
determined that for 2020, our Scope 1, Scope 2, and Scope 3 
emission intensity was 15.2 kg/client and 3,672.9 kg/employ-
ee. This implies a reduction in our carbon footprint by 35% per 
client and by 33% per employee compared with 2019. 
DETAILED DISTRIBUTION OF EMISSIONS
KgCO2e 
Share of total 
footprint 
Change 
over 2019 
Change  
over 2019 in % 
Electricity (Scope 2) 
11,529,712 
47.2% 
-5,139,963 
-30.58% 
Investments (Scope 2) 
5,131,416 
21.1% 
-87,112
-1.67% 
Heat (Scope 2) 
2,358,927 
9.7% 
-387,606 
-14.11% 
Natural gas (Scope 1) 
1,732,533 
7.1% 
-331,050
-16.04% 
Fuel for company cars (Scope 1) 
1,086,243 
4.5% 
-396,035 
-26.72% 
Employee transport (Scope 3) 
1,028,553 
4.2% 
-6,069,635
-85.51% 
Air conditioning (Scope 1) 
392,728 
1.6% 
-389,924
-49.82% 
Waste (Scope 3)  
268,861 
1.1% 
-166,982
-38.31% 
Other (Scope 3)   
790,479 
3.3% 
-161,108
-12.80%

In September 2019, we launched energy reporting on operated 
buildings. On account of this reporting and the subsequent modi-
fications to building operation, we achieved savings of 1,628 met-
ric tons of CO2 in the period from September 2019 to August 2021. 
When this report was being compiled the calculation of 
the carbon footprint for 2021 was under way. Audited results 
are posted on our website.
Waste management 
In our business activities, we generate only normal waste, such 
as mixed municipal waste, paper, glass, composite packaging, 
and plastics. Wooden and metallic waste is produced when 
workplaces are being altered or refurbished. 
Waste disposal management starts in each building or 
branch by waste sorting and placing in available waste bins. 
Under Act No 541/2020 on Waste, we have a contract for waste 
collection and ongoing recording in all buildings and workplaces 
with AVE CZ odpadové hospodářství s.r.o., which has been au-
thorised by the Ministry of the Environment to manage waste. 
24
	
Electricity
	
Investments
	
Heat
	
Natural gas
	
Fuel for company cars
	
Employees’ commuting 
	
to work
	
Air conditioning
	
Waste
	
Other
 47
 1
 2
 4
 5
 7
 10
 21
 3
EMISSIONS BY ACTIVITY IN % (2020) 
	
Scope 1 emissions
	
Scope 2 emissions
	
Scope 3 emissions
EMISSIONS BY SCOPE IN % (2020) 
 13
 57
 30
We established a plan to 
reduce our CO2 emissions 
and achieve carbon 
neutrality by 2026.
CARBON NEUTRALITY

25
KB Sustainability Report 2021
This company then delivers waste for recovery/disposal to 
waste processing companies that are also authorised by the 
Ministry for this activity. We do not interfere with the process 
of collection and subsequent disposal. 
Quite a few factors contributed to the reduction in 
waste generation. The most important of them included 
the continuing digitalisation and less printing, and also 
the branch network was pared down. The only case of an 
increase is visible in plastics; it was caused by the covid 
pandemic and a temporary re-introduction of disposable 
packaging.
Electric mobility  
We are serious about reducing carbon emissions, and pro-
gressively reduce them in all areas. Following a series of 
well-working projects supporting reductions in energy and 
material consumption in offices and branches we pay atten-
tion to our employees’ greener transport. Electric mobility 
is one of the promoted activities in terms of business and 
also internally. In 2022, we plan to expand our vehicle fleet 
by including 131 Škoda Enyaq electric cars and will gradu-
ally increase the proportion of electric vehicles in our fleet. 
We have recently put in place the option for employees to 
borrow a business car also for personal purposes. In 2022, 
we will roll out charging points for electric vehicles, some of 
them publicly accessible. 
Type of waste 
Metric tons
2021
2020
2019
Paper and paperboard 
145.673
177.410
176.22
Recycling 
Plastics 
34.552
28.730
32.19
Composite packaging 
0.147
0.320
1.89
Glass 
4.336
5.510
5.95
Iron and steel 
0.277
0.400
11.57
Electrical devices 
0.000
0.020
0
Wood 
0.540
32.260
8.80
Composting 
Biodegradable waste 
1.099
2.660
0
Mixed municipal waste 
489.173
568.260
646.14
Landfilling 
Bulk waste 
3.344
28.480
88.43
Grease and oil mixture from fat separators 
containing only edible oils and fats 
12.000
16.200
9
Incineration 
Hazardous waste (sludge from oil separators) 
0.000
6.000
0
Hazardous waste (WEEE) 
0.000
0.020
0
Take back/
return 
Total
691.14
866.27
980.19
KILOMETRES COVERED ON BUSINESS TRIPS
QUANTITY OF WASTE GENERATED BY KB AND THE USUAL MANNER OF ITS DISPOSAL
 Year
IC engine cars
Electric 
vehicles
Total
2019
6,314,875
59,856
6,374,731
2020
4,159,621
26,612
4,186,233
2021
4,423,405
28,692
4,452,097

Other activities 
In 2021, we took a number of steps to further reduce our adverse 
impact on the environment. We returned to some other steps 
after the covid period. For employees, we arranged a corporate 
sports day where we banned the use of disposable utensils and 
supplied all the participants with reusable cups. We did away 
with disposable coffee cups in the very busy cafe in KB’s head 
office building in Prague-Stodůlky and introduced the ‘Turn-
Around-Cup’, thereby starting to save dozens of paper cups per 
day. In the canteen, we have also introduced REboxes for food, 
which again replace dozens of disposable boxes per day. We have 
invested in a post mix dispenser in the canteen, and we prefer 
drinks in metal cans in vending machines and refrigerators. In 
our buildings, we have installed drink vending machines dis-
pensing coffee into people’s own mugs. In December, we kicked 
off the first purely circular project, the pilot collection of coffee 
grounds as feedstock in the production of cosmetics for clients 
and employees. In KB’s building in Prague-Stodůlky we plan to 
open a purely vegetarian self-service bistro in the spring of 2022.  
Last year was not ideal for bees and beekeepers but de-
spite the weak season we continue in beekeeping on the roof 
of our Stodůlky building and believe that 2022 will be more 
successful. In 2021, we also selected the supplier of 100% 
recycled paper that we progressively use instead of the con-
ventional paper in cases where a paperless solution cannot 
be used. We did not want to throw out still usable furniture 
from offices being closed down, and therefore sold it for sym-
bolic amounts to our employees and some non-profit organi-
sations. We invited our employees to engage in sustainability 
team activities and dozens of teams joined our ‘Cheeky Wave’. 
The teams were tasked with designing their own challenge 
concerning responsibility for the environment or society. The 
activities then yielded two winners determined by an expert 
jury and employees’ voting. Building of bumblebee hives 
and digital education of senior citizens were elected as the 
best activities. As in previous years, last year the KB Group’s 
employees joined the Biking to Work and Clean Up Czechia 
events. We detail these activities in Volunteering. 
26
In 2021, we took a number 
of steps to further reduce 
our adverse impact on the 
environment. 
ENVIRONMENT
We also supported the Circular Procurement online 
course organised by the Institute of Circular Economy (IN-
CIEN), where the participants learned about the principles 
of circular economy in various areas. Thanks to our financial 
support, seven parents on parental leave could attend the 
course for a bargain price. We thereby wanted to provide par-
ents, primarily mothers, with an opportunity to improve their 
education and hence their position in the labour market. 
In 2021, we intensified our communication activities 
to highlight climate change and the related phenomena. We 
wanted to open, sometimes in a rather controversial manner, 
debate and to activate the public. The O CO2 JDE campaign 
was running in summer; as part of it, we produced videos star-
ring sustainability experts, installed a lungs model in Prague-
Smíchov, and together with TV Nova created the Green Heroes 
project, https://www.kb.cz/cs/o-bance/vse-o-kb/podnikame-
udrzitelne/o-co-2-jde. We also supported the production of 
the documentary Let There Be Water! on the Czech S.A.W.E.R. 
(Solar-Air-Water-Earth-Resource) invention, which can distil 
water from the air.

27
KB Sustainability Report 2021

28
KB Sustainability Report 2021

29
SOCIAL 
SUSTAINABILITY 
3

We include a responsible approach to, in particular, our 
most numerous groups of stakeholders, i.e. clients and em-
ployees, in the area of social responsibility. We describe our 
relationships with other groups in the following chapters. 
Client satisfaction 
The development and growth of our customers (person-
al and that of their business), our responsiveness to them, and 
responsibility are the three value pillars of the KB brand. They 
express the manner in which the bank wants to be perceived 
in the market and what values it professes. The pillars of the 
KB brand are its substance. In clients’ awareness, we want to 
be a bank that through its responsiveness, responsibility, and 
emphasis on sustainability significantly contributes to their 
personal and business development. Thus, client satisfaction 
constitutes one of our top priorities. 
We poll customers on regular basis, monitor each stage 
of their customer journey, and based on their feedback mod-
ify and design our offers so that they are as user-friendly as 
possible. Conversations with clients, known as user testing, 
are part of the development of new products and services. We 
ask about their satisfaction following the purchase of a prod-
uct, wanting to know whether the client has received all that 
they should have received and at the right time, and whether 
they understand everything, or whether they need help with 
its settings. We also monitor the rating of each of the service 
channels, such as branches, the contact centre, and mobile and 
online banking. All of these measurements are running contin-
uously throughout the year. In addition to these individual in-
teractions with KB, we also measure NPS (Net Promoter Score). 
This indicator shows us clients’ affinity to our brand over time. 
We reap benefits from the effort that we spend on the meas-
urement, analyses, and subsequent activities to improve our 
offering for clients and we are delighted that NPS rises every 
year, amounting to 40 in 2021. 
The great satisfaction with the staff at branches and 
the contact centre is the strongest driver of the NPS growth. 
In our employees, clients value their professionalism, helpful-
ness, and effort to find adequate solutions. A very important 
aspect for which clients are recommending us is their feeling 
of security and our high-quality digital channels, in particular 
mobile banking. Measurements in the Individuals segment in 
2021 showed NPS rising to 37 from 32 in 2019, and in the small 
business segment from 32 to 34. At the time when this report 
was being released, IPSOS was still completing NPS measure-
ments in the corporate segments. The clients’ trouble-free 
multi-channel experience is expected to help us to raise the 
number of our clients to 1,850,000 through organic growth by 
2025. At 31 December 2021, KB was serving 1,625,000 clients. 
The development over the past 12 months was affected by the 
need to close down dozens of thousands of client accounts in 
cases where the clients failed to provide sufficient information 
needed to meet the tighter requirements for combating money 
laundering and terrorism financing. 
Every year, we collect more than 200,000 feedbacks. We 
read them all, process them, and make clients’ life at KB easier 
and friendlier on the basis of this feedback. Besides time series 
and the various indices, satisfaction surveys generate a host of 
highly valuable comments on what the clients appreciate or 
what is not the best design for them. We employ two methods 
for working with feedback. First of all, a branch or the contact 
centre approaches the clients who have expressed dissatisfac-
tion and seek to tackle the issue directly with them within 48 
hours from questionnaire completion. We redesign the prod-
uct, explain how to use it, or recommend a different, more ad-
vantageous service. Where the issues cannot be easily resolved 
immediately and we need to adjust the service in general, the 
customer experience team collects suggestions and raises re-
quirements for improvements across the bank. Last year, we 
produced almost 100 specific adjustments to our current range 
on offer from such strong suggestions. 
For example, based on feedback from our clients, in 
2021 we unified and extended the opening hours of branches. 
On certain days, clients can now use the business points’ ser-
vices from as early as 8am on Fridays or until 6pm on Mondays. 
On the other hand, clients in the individuals and business seg-
ments can receive a number of services online, also in response 
to the pandemic situation. 
The crucial aspect for us is to provide clients with an add-
ed value and ease their everyday worries. On a regular basis, 
we go over and test each of the services with our customers, in-
cluding the slightest details, and identify those that are the most 
attractive for them. Based on such analyses, we devise commu-
nication approaches whereby we remind the clients who ap-
preciate this of the benefits of our services, which the client can 
use right away to save time or effort. You can come across our 
trumps in many areas, ranging from everyday banking and lend-
ing to investing. We also think of low-income groups. For exam-
ple, KB clients can use their children and subsequently student 
accounts until they turn 30 and these accounts are kept free of 
charge. Similarly, the basic MůjÚčet account and its keeping and 
payment card are also free. We offer instant payments without 
any extra charge to all clients. Security is important for us, and 
so we screen clients’ payments. If we come across a suspect or 
unusual transaction on an account or card, we call the client im-
mediately to tackle the issue. We want to help our clients to cut 
costs and therefore our business credit card refunds 1% of every 
payment back to their business current account. 
Their perception of the costs of our services also strong-
ly influences our clients’ satisfaction. We have long sought to 
provide our clients with services on a value for money basis. 
Our prices are fair and transparent, and also very competitive 
compared with other banks in the market. 
Our pricing approach also considers sustainability. The 
pricing of our services is intended to motivate them to primarily 
use electronic and digital services that are more environmentally 
friendly and better priced for clients. On the other hand, clients 
have to pay more for services that do not contribute to our sus-
tainability objective, such as cash services and payment orders 
executed at our branches or account statements sent by post. 
Where despite all the effort our clients are not satisfied 
with any of our services, they can make a request through the 
Satisfaction Guarantee and we refund the service charges to 
them. 
30

31
KB Sustainability Report 2021
Complaints 
Clients have several options for communicating their com-
plaints: online, over the telephone, or in person at a KB branch 
and, naturally, also in writing, i.e. a letter. However, we seek to 
centralise these options. Going forward, we plan to use a new, 
robotised form for receiving complaints from clients online, 
over the telephone, and recorded at a branch in person. This 
way will be user friendlier for the clients and will also make the 
initial steps with recording the submission itself easier. 
Since the end of 2018, we have been using the ZOOM 
application for recording complaints. The app provides us with 
a much more accurate overview of the various types of com-
plaints and also of the subsequent resolution thereof. The pro-
cess itself has also become much faster thanks to the continu-
ous development in this respect. 
In the previous years, we felt the heaviest load of com-
plaints in respect of early repayment of mortgage loans and the 
related reimbursement to the bank of reasonably spent costs, 
and the KYC issue. 
In respect of sustainability, we have most often been 
addressing complaints related to our campaigns. We have re-
ceived large numbers of positive responses, but also negative 
ones, and not only in respect of sustainability and our O CO2 
JDE campaign but also our Christmas campaign. 
KB Ombudsman 
We started to work with an ombudsman as early as 2004. Om-
budsman Joseph F. Vedlich, a Czech-Swiss lawyer who has 
authored publications on financial law, the financial sector, 
and the justice system and who also has extensive expertise 
in banking and legislation, held this position for more than 
ten years. He has spoken on banking at many conferences and 
workshops and also contributed to the Czech editions of sever-
al international books on banking and financial services. The 
KB Group Ombudsman was a person open to new ideas and ap-
proaches, who always heard both sides. Cooperation with him 
was marked by a very friendly spirit. In 2021, out of the total 
number of cases for the whole KB 23 were referred to him; only 
six of them were recognised as legitimate. 
Under the SG Code, the ombudsman’s mandate has re-
cently been limited to no more than five years, which enhances 
the ombudsman’s independence and impartiality. At the be-
ginning of January 2022, Professor Marie Karfíková became the 
new ombudswoman. 
Our transparent communication on products and servic-
es and our advertising are subject to supervision by the Coun-
cil for Radio and Television Broadcasting (RRTV), https://www.
rrtv.cz/en/Default.aspx). If the recipient of our advertising has 
any doubts, they can contact the Council. For 2021, we have 
not registered any complaints received from this regulator, nor 
did the Czech Advertising Standards Council address any com-
plaints related to KB. 
The marketing of our products and services meets re-
quirements that comply with Czech and European regulation 
and that are specifically reflected in business and product 
terms and conditions. If complaints about product and service 
names are raised, they are recorded and handled. This may 
include clients’ direct complaints or those through regulatory 
authorities. We did not register any complaint regarding the 
marketing of our products and services in 2021.
Service accessibility for disadvantaged clients 
We have long strived to make our products and services friend-
ly in many ways. We consider it to be absolutely essential that 
disabled clients are included and have access to our services. 
At the end of 2021, we had 166 out of the total number of 241 
branches in the barrier-free mode, and out of the current 860 
ATMs 785 were accessible without any barriers. 
Hearing-impaired clients can use the Transkript service, 
thanks to which the conversation between the relationship 
manager and the client is transcribed on a monitor screen in 
real time. The hearing-impaired clients can communicate easi-
ly and independently with their relationship manager. If the cli-
ent requests their relationship manager to provide transcript, 
the relationship manager calls a transcriber, and the client 
can follow the verbatim transcript of the conversation on the 
PC monitor and can therefore ask questions at any time and 
respond to the information provided. This gives both parties 
the certainty that there will be no misunderstanding and that 
all the information has actually been conveyed. The service is 
provided in cooperation with the Transkript online social enter-
prise, a successful employer of blind speedwriters. 
Another example of products that we seek to improve 
so that their use is as comfortable as possible for clients with 
disabilities is the Mobilní banka application. It supports Goog-
le TalkBack, a screen reader with voice response. To find out 
what challenge Mobilní banka presents to people with visual 
impairment or what they appreciate about it, we involved 
a blind user in its testing. The navigation in the application 
and the functions of transaction history and account bal-
ance checks received very positive assessments. However, 
the blind user found room for improvement in the activation, 
the Pay function, payment order entering and checking the 
execution thereof, and requests for cards. We will use the out-
comes of the survey to improve the accessibility and usability 
of the application for the visually impaired. 
In our employees, clients 
value their professionalism, 
helpfulness, and effort to 
find adequate solutions. 
CLIENT SATISFACTION

32

Financial education and literacy 
The covid pandemic and the rising energy prices kept the 
need of financial education and prevention of debt traps high 
on the notional list of priorities. We continued our coopera-
tion with the Institute for Economic Education and supported 
the Economics Olympiad, an international competition for 
secondary school students. The participants in the Olympiad 
compete in their knowledge of economic indicators as well as 
general understanding of finance and banking. 
The Bankers to Schools event, which we have been 
supporting since 2014, is a popular project amongst schools 
and our employees. As part of this cooperation with the Czech 
Banking Association, every year we send out dozens of speak-
ers from the ranks of KB branch managers, IT specialist, or 
most senior management. We regard financial literacy and 
cybersecurity as an irreplaceable part of education at primary 
and secondary schools. 
We have long supported the operation of the Financial 
Distress Advisory Centre (Poradna při finanční tísni) non-prof-
it organisation that provides advisory services to people in 
debt. We notify clients who are in arrears with their payments 
by way of an early warning system (text messages, e-mails, 
phone calls), and we also refer them to our website at https://
www.kb.cz/cs/obcane/kb-radce/reseni-financnich-potizi and 
www.kb.cz/splaceni, which provides complete information 
about the issue of (non)payment, and we also refer them to 
the above Advisory Centre. We also joined the Merciful Sum-
mer scheme organised by the People in Need (Člověk v tísni) 
non-profit organisation. KB’s and its ESSOX and Modrá pyram-
ida (building society) subsidiaries’ clients who have landed in 
enforcement proceedings due to defaulting on their loans, 
had an opportunity until the end of January 2022 to apply for 
an option to repay only the principal amount to the bank. At 
the above date, we registered over 120 clients who had shown 
interest in using this option; the amount owned totalled al-
most CZK 15 million. 
Client data security 
We fully respect the protection of our clients’ personal data 
and of data that is subject to banking secrecy. Transparent data 
handling and the maximum security thereof are the fundamen-
tal prerequisites for complying with the relevant regulatory ob-
ligations and for maintaining responsible business operations 
and long-term relationships with clients. 
We have a set of internal rules and policies in place for 
all data processing entities, clients, employees, and suppli-
ers, which ensure personal data protection. All information on 
personal data processing is described in documents available 
on our website (https://www.kb.cz/en/protection-of-person-
al-data), including a document titled Information for Clients on 
Personal Data Processing. The clients and third parties whose 
personal data we process or may process are informed by this 
second document about the legal reasons for personal data 
processing and for what purposes they are used, what personal 
data we process in the bank, where we obtain personal data, 
who are the processors and recipients of personal data, how 
long we store personal data, what legal rights clients have in 
terms of personal data processing and what legislation we, as 
the bank, follow in personal data processing. This is informa-
tion required by the GDPR. The same site offers a set of doc-
uments with additional relevant information about personal 
data protection (consents, credit registers, etc.). 
Our suppliers have all the information on personal data 
handling available in the contract clauses that contain GDPR 
provisions and are available at https://www.kb.cz/en/suppli-
ers. GDPR management has been systematically designed and 
set up at KB and at our subsidiaries. Breaches of the personal 
data protection principles are independently evaluated by the 
Data Protection Officer (DPO), who recommends possible re-
medial actions and is also responsible for consulting the Office 
for Personal Data Protection. A breach of the GDPR principles 
by a bank employee may result in a sanction in the form of, say, 
a letter of reprimand. The personal data protection policy is 
part of the regular internal audit plan. In 2021, no remedial ac-
tions were taken in respect of personal data protection. 
In 2021, KB Group companies received a total of 60 ques-
tions or complaints concerning personal data protection; of 
those, we received four questions indirectly from the Office for 
Personal Data Protection. No sanction or remedial action was 
imposed on us in respect of any of these questions. 
Trusteer Rapport is a security tool that protects against 
specific threats, such as harmful websites (phishing), malware, 
and attempts to detect passwords (keylogger). Trusteer Rapport 
is an IBM developed product that clients can install in their com-
puters free of charge and in a couple of minutes. In late January 
2021, more than 289,000 clients had Trusteer Rapport installed, 
and 2,824 potential frauds have been prevented since its launch. 
A phenomenon of the past year is clearly the new types 
of fraudulent attacks that are keeping busy not only our experts 
in the Payment Fraud Prevention unit, but also their colleagues 
in card fraud units and many other parts of the bank, such as 
specialists at the Contact Centre. These attacks include primar-
ily various forms of vishing and phishing, i.e. fraudulent actions 
intended to obtain, through various deceptive narratives, from 
clients their login data and the authorisation of their opera-
tions, such as logging into the online banking app and subse-
quent authorisation of fraudulent transactions, or the pairing 
of the hacker’s device. We also continue to come across fraud-
ulent investments in cryptocurrencies when the hackers aim at 
less experienced clients and, pretending to help them with the 
management of their investments, cajole them into executing 
fraudulent transactions, the hackers’ accounts being the desti-
nation for the money. 
We are relentless, and continuously warn clients and up-
grade our detection system to be able to better respond to the 
latest hacking trends. Last year, we intercepted over 300 fraud-
ulent payments, thereby salvaging more than CZK 45 million 
for the clients. 
We continuously enhance our Mobilní banka (Mobile 
Bank) app to keep our clients’ money in absolute security. For 
example, the app can check whether the client has enabled 
Google Play Protect on their phone, supports biometrics login 
and screen lock, and tests the device for the screen overlay at-
tacks and for the correct working of IBM Trusteer Rapport. 
33
KB Sustainability Report 2021

34
KB Sustainability Report 2021

35
We create an inspiring and 
stimulating environment where 
people enjoy working, wish 
to be successful, and aspire to 
become KB ambassadors. 
RESPONSIBLE ACCESS TO EMPLOYEES

Responsible approach to employees 
Vision, corporate culture, and values 
Our strategic vision in Human Resources is to create a professional 
relationship with the employees based on trust, respect, mutual 
communication, equal opportunities, and an offer of attractive 
professional and career growth. We create an inspiring and stim-
ulating environment where people enjoy working, wish to be suc-
cessful, and aspire to become KB brand ambassadors. Our cooper-
ation is founded on four core values, or principles of conduct, i.e., 
team spirit, innovation, commitment, and responsibility. These 
values together form the basis of our corporate culture on which 
we are building our future, and are an integral part of our mission, 
which expresses our raison d’être, or the purpose of our existence, 
and the way we want to be perceived as a bank by the market. 
36
AVERAGE FTE NUMBER OF EMPLOYEES
Team spirit 
Our clients want a bank that will be a responsible, trustwor-
thy, and operative partner for them. Our employees meet 
the clients’ needs as a team. This is helped by their obliging 
approach underpinned by technical knowledge. We are and 
want to be a bank focused on relationships with clients. Lis-
tening to the other person, joint effort, appreciation of mutual 
benefits and jointly experiencing all successes and failures are 
important for us all at KB. 
Innovation 
Our employees continuously seek to enhance customer ex-
perience. Together, they are adjusting to the future require-
2019
 8,061
 7,104
 7,062 |  42
 4,173 |  2,889
2020
 8,167
 7,210
 7,168 |  42
 4,050 |  3,118
Branches will continue to be an important contact point for clients, but since financial service provision is increasingly shifting to digital channels, 
KB will have some 200 branches in the end pursuant to its strategy. We have accelerated the earlier planned reduction of our branch network in 
response to the quick shifting of client operations from branches to digital channels during the covid pandemic. The result of the drive to optimise 
operation through digitalisation, branch closures with transfers to cashless banking, the automation of the middle and back offices and other 
support function, and the deployment of robots will be as follows: At the end of 2025, approximately 5,500 employees will manage the complete 
operation and services of the bank itself, compared with the bank’s 7,210 employees in 2019 and 6,736 in 2021. The KB Group will continue the 
transformation, which entails investing in rolling out a new digital infrastructure, an overall simplification, and headcount and used space reduc-
tions. Our bank’s management has also decided on the continued optimisation of the branch network in 2022. We have earmarked the branches 
for closing further to a long-term analysis of the branch footfall, the coverage and potential of the localities, and the changes in the behaviour of 
clients, who prefer distance sale and assisted services in the digital environment. 
 KB Group    Komerční banka    of whom in the Czech Republic    of whom in Slovakia
 of whom at the head office    of whom in the distribution network 
2021
 7,687
 6,736
 6,694 |  42
 4,043 |  2,650
 ≤ 30    31–40    41–50    51+
 18
 24
 33
 25
 17
 26
 33
 24
2020
2019
2021
 16
 24
 34
 26
EMPLOYEE AGE 
STRUCTURE
AT KB CR AT YEAR 
END (%)

37
KB Sustainability Report 2021
 full time (in 2021  men (2,519)  women (3,735))  part time (in 2021  men (26)  women (415))
The colours in the pie charts regard gender. For 2019 and 2020, the breakdown by gender was not required. 
The gender breakdown here only applies to 2021.
 94
 6
2020
2019
2021
 94
 6
 university    secondary school    other education
2020
2019
2021
 45
 3
  93
  7
2020
2021
 81
 19
  84
  16
 45
 3
 52
 52
 50
 2
 48
EMPLOYEES' 
QUALIFICATION 
(%)
EMPLOYEES 
BY EMPLOYMENT 
CONTRACT 
TYPE (%)
EMPLOYEES 
BY CONTRACT 
TERM (%)
2019
 81
 19
ments, primarily by using technology innovations. They stick 
to our business direction, changing their working methods ac-
cordingly: they support idea sharing, experimenting, and un-
conventional thinking. They are learning from their achieve-
ments and failures. 
Commitment 
Our employees continuously seek lasting client satisfaction, 
which is associated with pride of their profession and of the 
KB Group. Day by day, they all work hard to contribute to the 
success of our clients and their projects. They take care of re-
lationships based on mutual trust and respect both inside and 
outside the bank. 
Responsibility 
KB bankers contribute to the economic, social, sustainable, and 
green development of both countries and economies in which 
we have a presence. They want to help our clients to tap the po-
tential of their projects while being on the alert as to risk in all 
its aspects. Meeting our clients’ needs and acting in accordance 
with the investors’ long-term interests, strictly in line with the 
rules of the profession, is the responsibility of all employees as 
expressed in the Code of Conduct. Nobody in our bank should 
hesitate to bear responsibility for their acts and decisions and 
to clearly express their views. We dedicate the same attention 
to results and the avenues for achieving them. 
 full time (in 2021  men (2,213)  women (3,403)) 
 part time (in 2021  men (331)  women (747))

Occupational health and safety 
and working conditions 
This topic is detailed in KB Sustainability Report 2020 and Annual 
Report 2021 in the Relationship with Employees chapter.
TeamPrevent-Santé is the occupational health service pro-
vider for KB. Employees undergo an initial medical examination 
and periodic examinations at intervals determined by the age 
group and the risk category of their position. At the discretion of 
the employee or employer, an extraordinary examination may be 
requested; such examination must be taken automatically in the 
case of absence for more than six months. Occupational health 
service covers all employees under main employment contracts 
(employees on agreements to perform work only in the case of the 
second risk category). Risk assessment of the position takes place 
upon the creation of each position. Depending on the health risks 
associated with each position, employees are assigned to the first 
or second risk category. Employees in the first risk category visit 
their practitioners for occupational health checks. Employees in 
the second risk category and official drivers visit the occupational 
health service provider for occupational health checks. The med-
ical facilities under contract are available in all larger towns and 
cities across the country. Employees can opt for a facility close to 
their home. Examinations take place within working hours. More 
detailed information about medical examinations is available for 
the employees on KB’s intranet. The tendering procedure for se-
lecting an occupational health service provider is organised once 
every four years. Practitioners and the occupational health service 
provider do not supply the employer with details of the employ-
ee’s health; they only confirm that the employee is fit for the rele-
vant position. 
Employees participate through their trade union organisa-
tion, the KB TU Organisation. The role, rights, and obligations of 
the KB TU Organisation (TUO) are laid down in the Labour Code. 
The TUO is provided with the annual plan of occupational health 
and safety (OHS) checks and its officials have the right to partici-
pate in them. The Trade Union of Financial and Insurance Indus-
tries (Odborový svaz pracovníků peněžnictví a pojišťovnictví) also 
carries out regular checks, and it did not find any major shortcom-
ings in the performance of obligations at selected KB branches. 
The system stores OHS inspection reports, which can be accessed 
at any time. In case of need, every employee has the right to ap-
proach a TUO official for consultation or with a suggestion for im-
provements in the working environment, etc. In cooperation with 
OHS responsible officers, a compromise is then sought and reme-
dy is ensured. KB makes sure that all its workplaces are checked. 
Employee training in OHS and fire protection (FP) has the 
form of e-learning at two-year intervals. Every employee has ac-
cess to the training system. The training system is managed by 
the HR department, which sends notifications directly to the em-
ployee and may also refer them to their superior if the employee 
has failed to complete the training by the deadline. The training 
includes information on OHS and FP rights and obligations aris-
ing from the legislation. Employees are also acquainted with risk 
factors at the workplace. The training also focuses on the specif-
icities of the given workplace, such as evacuation routes, and the 
location of fire extinguishers, main switches, and first aid kits. Em-
ployees under main employment contracts, as well as employees 
under an ‘agreement to perform work’ (in Czech DPP) or an ‘agree-
38
ment to complete a job’ (in Czech DPČ) are obliged to complete 
the OHS and FO training. Training is free and takes place within 
working hours. 
In our bank, the OHS and FP coordinator, our employee, is 
responsible for the OHS and FP system at KB under a power of at-
torney. The coordinator guides and manages OHS and FP service 
providers that ensure the meeting of legislative requirements for 
KB in this respect. In the event of controversial situations, the co-
ordinator decides in cooperation with the legal department. This 
is without prejudice to the responsibility of managerial personnel 
at all management levels and without any limitation on our em-
ployees’ general obligation to participate in OHS development 
and improvements in the working environment. The Banking and 
Insurance Industry Trade Union and the Regional Public Health 
Officer also conduct regular checks of workplaces. All employees 
are obliged to complete mandatory training and participate in oc-
cupational health care. 
In the event of a work-related injury, the employee in ques-
tion shall report it to their manager. The manager records the inju-
ry in the Injury and Minor Accident Book. In the case of incapacity 
to work, a document called Injury Record is produced. The legal 
department then confirms whether the injury is a work-related in-
jury. The manager in cooperation with the OHS coordinator and a 
professionally competent person draw up the Injury Report. De-
pending on the gravity of the accident, the competent person then 
carries out a site examination, and measures are taken to prevent 
the accident from recurring. The Injury Report is kept by the OHS 
coordinator and sent to the relevant authorities, including the in-
surance company. The Injury Record must be sent by the fifth day 
of the following month. Every year, a list of accidents is sent to the 
TUO. In 2021, we registered three work-related injuries. 
In 2021, we did not register any case of work-related ill 
health at KB. 
The risk factors entailed in employees’ work are assessed 
before they actually start their work activities. Managers coop-
erating with a professionally competent person conduct the as-
sessment in line with the legislative requirements. Employees are 
acquainted with this assessment as part of OHS training once per 
two years. If a specific risk that could directly and seriously threat-
en an employee’s health is identified the employee has the right 
to refuse to perform the work without any sanctions for failure 
to fulfil their assignment. The verification of the relevance of risk 
factors at the workplace is performed by managers, which is their 
statutory obligation. Labour Inspectorates and the Banking and 
Insurance Industry Trade Union exercise oversight. The KB Group 
promotes the employment of disabled or disadvantaged people 
and is able to adjust the working conditions and environment to 
their specific disability. 
Measures to support employees 
during the covid-19 pandemic 
During the second year of the covid pandemic, we continued to 
protect the health of our employees, in particular the most vulner-
able groups, as much as possible. Over and above the statutory 
rules, we tested at workplaces, permitted testing for antibodies, 
facilitated covid vaccination, and paid 100% of wages to pregnant 
women and 60+ employees when they had to interrupt their work 
because of illness or isolation/quarantine.

39
KB Sustainability Report 2021
Health promotion and support in hardship 
We have been systematically attentive to our employees’ 
health for many years. Under the Mojevitalita.cz scheme, 
promoting a healthy lifestyle, we published new e-learning 
courses on smart office, home office, or the coronavirus situ-
ation. Throughout the year, we organised a number of online 
workshops and webinars on topics such as healthy food, or-
ganisation of work from home, or mindfulness. We support-
ed our employees’ sport activities and purchases of healthy 
lifestyle products through the benefit system. We also organ-
ised a sports day for all employees. 2021 was the second year 
marked by the pandemic and we therefore launched a new 
Consultancy Programme offering our employees psychologi-
cal, legal, and covid-related advice. 
At KB, we respect all human and social rights of our em-
ployees. We have long been accommodating our employees faced 
with personal hardship. The assistance to be extended to these 
employees is provided for in the Collective Agreement and the 
relevant implementing regulations. Each situation is assessed and 
addressed on an individual basis (e.g., flexible working hours, re-
duced working hours under the employment contract, work from 
home, financial support, unpaid leave, etc.). In addition, we pro-
vided financial support totalling CZK 4 million to 21 employees on 
a long-term sick leave. 
Employee satisfaction survey 
Employee care is one of the top priorities for our human resources 
management and for our senior management. We regularly gauge 
the opinions, satisfaction, and commitment of our employees and 
adopt follow-up measures. We measure employee commitment 
through the SG Employee Barometer that monitors employee 
satisfaction at the SG Group level and is conducted by an inde-
pendent research agency. The Barometer examines ten categories 
of indicators covering satisfaction, motivation, recommendation, 
trust, and strategy, including the general direction followed by the 
SG Group. Our own survey, KB Pulse, monitors opinions related to 
efficient teamwork, sense of purpose and importance, motivation, 
recognition, and leadership. 
In 2021, Employee Barometer took place within the entire 
SG Group, while in our bank we also conducted three waves of 
the KB Pulse survey. Employees had an opportunity to comment 
on all of the above topics and to provide an overall assessment 
of their current mood and the atmosphere in the company. They 
could also comment on the bank’s responsible and sustainable 
approach and diversity issues. 
In the SG Group’s SG Employee Barometer survey, the com-
mitment score increased by 1 pp year-on-year to 73%. Employees 
expressed positive views of the diversity and inclusion activities, 
and a higher satisfaction with the atmosphere in the company 
and cooperation with their superiors (93%) and colleagues (97%). 
In KB Pulse, commitment scored 77%. This was slightly lower than 
the year before. The main reason was the pandemic situation. On 
the other hand, there was an improvement in teamwork where 
the score rose from 72% to 74%. 43% of employees improved their 
opinion of working from home, and the bank’s responsible conduct 
also scored high in the questions aimed at the perception of KB as 
regards sustainability. 82% of employees regard KB as a sustainable 
and environmentally and socially responsible company. 
Right to information and collective bargaining 
The KB Group employees’ right to collective bargaining is respect-
ed to the full extent. At KB and Modrá pyramida, the TUO exercises 
this right. KB and Modrá pyramida managements are regularly in 
touch with the TUO officials and collective bargaining takes place 
every year. 
Under the Labour Code and the Collective Agreement, we 
allow all our employees to organise in trade unions. In 2021, 29 
TUO branches operated at KB and one TUO branch at the Modrá 
pyramida building society. The relationships between the TUO 
and the employer are governed by, inter alia, the Charter of Fun-
damental Rights and Freedoms, the Czech law on the association 
of citizens, the Czech law on collective bargaining, and ILO Con-
ventions (freedom of association, right to organise and collective 
bargaining, protection of human rights and freedoms). 
The right to information is guaranteed to all employees. 
At KB and Modrá pyramida, it is also provided for in the Collective 
Agreement signed for 2017-2021. The outcomes of the negotia-
tions between the employer and the TUO, including the full text 
of the Collective Agreement, are shared with all employees. The 
benefits of the collective agreement cover all employees of the rel-
evant company, including those who are not organised in unions. 
In companies where no union exists such benefits are provided in 
their internal regulations. 
We share information intended for employees openly and 
via multiple channels. The main source of information for each 
employee is their superior. Another channel is each of the com-
panies’ intranets. KB’s intranet has a separate Employee section 
offering all relevant and updated information concerning human 
resources. Employees can contact HR specialists, call the My HR 
line, or send their questions via e-mail. They can also approach HR 
Business Partners and consultants. Newcomers can use the KUBA 
chatbot. 
At KB, we use collective bargaining. Under the Agreement 
on Cooperation, Relations, and Delegation of Powers, the Works 
Council of KB’s TUO is empowered by the various trade union 
branches to bargain collectively. The unions represent the em-
ployees and their interests. The deadlines for submitting material 
changes are stipulated by the Rules of Cooperation between KB 
Management and the Works Council of KB’s TUO, the standard 
deadline for submitting comments on draft proposals being 15 
days under the Rules. Any employee can join the trade union. 
Diversity and inclusion
Diversity and inclusion are an inseparable part of our corporate 
culture and among the strategic priorities of the whole SG Group. 
We regard otherness and individuality as a strength regardless of 
age, ethnic origin, nationality, gender, sexual orientation, political 
opinion, religion or minority membership. 
We promote diversity in our teams. We employ experts 
from various areas, foreign colleagues from SG Group countries, 
students who are only starting their career, and our experienced 
long-standing employees. 
In September 2020, we became a Golden signatory of the 
Diversity Charter – a project sponsored by the European Commis-
sion since 2010. By signing the Diversity Charter, we have joined 
a strong group of companies that actively raise and contribute 
to the solution of societal issues. As part of this initiative we have

pledged to create a non-discriminating, supportive, and inspira-
tional environment in which employees can develop and actualise 
their potential as best as possible. 
Our overall strategy as a responsible employer rests on four 
pillars: gender balance, equal remuneration, promotion of social 
inclusion, and enhancing awareness of diversity and inclusion 
amongst employees and the public. In respect of gender balance, 
we seek a more balanced representation of men and women in 
senior managerial positions, including the Board of Directors. One 
of the most visible moves in this direction at KB was the appoint-
ment of Jitka Haubová as the Chief Operations Officer and the ap-
pointment of four women to executive directorships, whereby the 
shares of men and women were almost equalised at this manage-
ment level. 
Another pillar is equal remuneration for men and women. 
We have long been dedicated to this issue, and compared with the 
market maintain a small gap only and keep reducing it. In 2020, 
the gap was 4.3%, and in 2021 it was reduced to 4.2%. 
In respect of inclusion, we primarily support people from 
socially disadvantaged groups such as single mothers or talented 
Roma university students. As part of this support, we also cooper-
ate with the relevant foundations. Through our open communica-
tion, we openly subscribe to all topics, publish our activities and 
results, and also share our experience both inside and outside by 
way of mentoring and networking or other shared platforms. 
We devote special attention to employees on materni-
ty and parental leave (ML/PL). In the case of mutual interest and 
need, cooperation with them is established also during the leave. 
These employees regularly receive from us our in-house magazine, 
KB Journal, to stay up to date as regards developments at KB. Af-
40
ter returning from ML/PL, we help these employees to reintegrate 
into the work processes by, for instance, offering reduced working 
hours, home office, or flexible working hours, or combinations 
thereof, if the type of the operation and nature of the work so per-
mit. We provide an extra contribution to parents who return earlier 
from their ML/PL. 
We also keep in touch with our retired employees. We great-
ly appreciate their extensive knowledge and experience gained 
over many years. In case of need, we approach these employees 
with an opportunity for occasional work in order to meet a tempo-
rarily increased need of capacities in some technical activities, and 
also for newcomers’ and junior colleagues’ induction. 
We also devote special attention to disabled colleagues. 
In 2021, we had 147 employees with various disabilities. The po-
sitions most frequently filled by these people in our company 
include transaction processing specialist, relationship manager, 
mortgage loan consultant, and cash processing specialist. 
Talent search and recruitment 
At KB, we consistently search for young or more experienced 
talents and adjust all of our recruitment processes to this. The 
processes are also based on the New Digital Bank (NDB) strategy 
and its requirements for the new competences and knowledge 
that will be vitally important for the bank in the future. As in 2020, 
in 2021 again the recruitment activities had to be adjusted to the 
current pandemic situation and the bank could only engage in a 
combination of face-to-face and online activities in compliance 
with the then applicable anti-covid measures. 
In the development and implementation of our strategic 
projects and technical and information solutions and realisations, 
2019
 733
2020
 706
NUMBER OF EMPLOYEES ON MATERNAL OR PARENTAL LEAVE
2021, year end
 676
Employees who left for ML/PL during the year
 182 (women)    0 (men)
Employees on ML/PL during the year
 888 (women)    2 (men)
Returns from ML/PL during the year
 202 (women)    1 (men)
We do not keep statistics of returns from ML/PL.

41
KB Sustainability Report 2021
2020
2019
2021
 men, 36	
 women, 64
 men, 38	
 women, 62
 men, 36	
 women, 64
SHARE OF MEN AND WOMEN AT KB (%)
 men    women
2021
 56
 44
SHARE 
OF WOMEN 
AND MEN 
IN MANAGERIAL 
POSITIONS (%)
 52
 48
2020
2019
 54
 46
Gender
 men, 79%
 women, 21%
Age category
 30–50, 67%
 51+, 33%
GOVERNANCE LEVELS 1 AND 2 (%)
The smaller share of women in managerial positions was caused by a reorganisation in the Distribution Network, in which the percentage of 
women in managerial positions is higher. 
EMPLOYEES WITH DISABILITIES
2020
 135
2021
 147
2019
 146

we use the services of contractors/suppliers and subcontracting 
entities. These relationships exist on the basis of supply agree-
ments with each of the entities in accordance with the bank’s 
short-term or long-term needs. 
We traditionally engaged in cooperation with universities 
and student organisations across the Czech Republic, including 
follow-up sponsorship activities. In 2021, we launched the sec-
ond year of our trainee programme intended for university stu-
dents. Fifty students found their place in the bank’s agile part in 
tribes and in expertise teams, in teams at the head office, and 
in the business division. For the first time, we also involved four 
Roma students in the trainee programme through the Albatros 
Foundation and its grant schemes for talented Roma university 
students. 
We also regularly participate in employee competitions. 
In the TOP Employer of the Year competition, in which students 
and graduates vote, we retained our primacy in the Banking and 
Investments category. In the Sodexo Employer of the Year compe-
tition, where the company’s overall approach to its employees is 
rated, we were placed second in the Prague region and then third 
in the national round. 
Employee training and development 
We prepare a wide range of training activities and programmes 
for our bank’s and the KB Group’s employees, thus giving them 
opportunities for their personal growth while emphasising their 
own responsibility for their career. 
In 2021, we continued to upgrade employees’ digital and 
remote work knowledge and skills, specifically in all parts of 
the bank, including the branch network. We continued to train 
employees who come into direct contact with clients (including 
the mandatory certifications and lifelong education), focusing 
on upgrading certain specific identified competences. We also 
focused on upgrading skills in leadership, human resources, 
responsibility, innovation, and client-focused approach. We al-
ways adjusted the format of the training activities to the current 
pandemic situation, often holding them online or in the blended 
learning format. 
We also cooperate with Société Générale on development 
programmes. This enables our employees to also upgrade their 
skills and abilities in an international environment. 
Compared with 2020, 2021 saw an increase in SG training 
in MyLearning and an increase in face-to-face training courses 
that could not take place in 2020 because of covid. We started 
to implement a competence model with a view to improving the 
identification of the training needs and a more accurate target-
ing of development. We continued to prepare thematic modules; 
working with our in-house expert guarantors, we offer varied po-
sition- or role-specific content in these modules. In the technol-
ogy part of the bank, we launched an online training platform on 
which experts in the various fields share their technical issues on 
a regular basis. 
In 2021, we underpinned the continuing transformation of 
our corporate culture in education by a gradual implementation 
of the learning organisation principles, which were the mainstay 
topic of the KB Sense programme for senior talented employees 
and were supported by additional tools for individual and team 
42
development, such as co-development, peer learning, internal/
external coaching, and mentoring. The SPIRIT talent scheme for 
young talents was concluded by the delivery of outcomes from 
six projects focused on corporate culture. The other issues that 
resounded in our company in 2021 included sustainability, diver-
sity, and inclusion, and we offered employees some e-learning 
and webinars on these issues. 
As all the employees, the security personnel who provide 
for security in the bank have been trained by the supplier com-
pany and acquainted with the principles of the Code of Conduct, 
which also includes fundamental human rights. 
Performance evaluation and feedback 
The annual performance evaluation and feedback is a regular 
part of communication with employees. Thanks to the agile 
transformation, this process now better supports the new 
method of working. Across the company, the standard evalu-
ation of the meeting of targets and competence requirements 
has been supplemented with a process that appraises em-
ployees’ potential, whose outputs are further used for prepar-
ing the plan of succession, identifying senior talents, and tal-
ent schemes, as well as for compiling the development plans 
for each of the employees. The other tools used for feedback 
included, for example, 360° evaluation, skill assessment, and 
personality and talent tests. 
100% of employees receive their annual performance 
reviews and are engaged in discussions on the options for their 
continued professional growth and personal development. 
Remuneration 
Remuneration at KB relies on four principles. 
The internal justice principle ensures that remuneration is the 
same for the same work and the same performance under the 
Category
Number of hours
2021
2020
Admin/support positions
7
9
Creative specialists 
14
13
Management 
31
20
Distribution 
38
19
Average training hours per employee in 2021 were 28.63 hours (2020, 
13 hours). Male and female employees have always had and have 
exactly the same training opportunities. 
DATA ON THE NUMBER OF HOURS OF TRAINING
WAS CALCULATED FOR THE FIRST TIME IN 2019

43
KB Sustainability Report 2021
same transparent circumstance. Remuneration must not be 
influenced by gender, age, religion, TU membership, political 
party membership, or other personality features of the employ-
ee that are not directly tied with the employee’s performance 
or competences. 
The external competitiveness principle is pursued using reg-
ular market surveys, taking into consideration the intended 
market position and the significant differences in the remu-
neration market. These surveys then help to determine the 
above-mentioned target basic pay. 
The individual contribution principle is reflected in the wage 
and in the bonus. Wages may reasonably differ from the target 
level so as to reflect all the aspects, such as the individual con-
tribution or potential. One of the factors for bonus calculation 
is target meeting and performance appraisal. A long-term in-
centive scheme (LTI), described in the Annual Report’s chapter 
on employee share plans, is intended for the employees and 
strategic talents who have an extraordinary benefit for the KB 
Group. 
The risk consideration principle guarantees that remunera-
tion is kept in line with a sound and effective risk management, 
and that it also support such management; remuneration does 
not encourage the acceptance of risks above the limits of the 
risk tolerated by our bank. The risk consideration principles are 
described in detail in KB Annual Report 2021 in the chapter on 
relationships with employees. 
Equal remuneration is the fundamental pillar 
of the diversity strategy at KB. Its objective 
is a zero gender pay gap by 2025.
We determine the pay for all employees in view of the challeng-
ing nature of their position, in particular from the perspective 
of the required knowledge, experience, and skills, and the re-
sulting responsibility. 
The entry level wage therefore varies depending on the 
position to which the employee is recruited, and it is the same for 
men and women as part of the equal approach to remuneration. 
In 2021, the ratio of entry level wage at KB and the mini-
mum wage in the Czech Republic was 1.36.
On the occasion of the annual review of pay at KB, we 
also monitor whether an equal approach is taken to pay rais-
es. In 2021 we reduced the gender pay gap to 4.2% from 4.3% 
in 2020. We compare the wages of all positions as regards our 
portfolio employees. We do not include temps (working under 
an ‘agreement to perform work’ (in Czech DPP) or an ‘agree-
ment to complete a job’ (in Czech DPČ)).
Targets related to variable pay for performance 
The remuneration principles reflect the shareholders’ in-
terest in KB’s value through linking the amount of the var-
iable pay to our bank’s results and the meeting of the stra-
tegic priorities, including sustainable growth. In 2020, we 
launched a new strategic programme. Its priorities are de-
scribed in the chapter on Strategy in KB Annual Report 2021, 
and were implemented in the employee incentive system for 
2021 through a COKR (Company Objectives and Key Results) 
measurement system. Strategic priorities also include sus-
tainable development covering, for example, the targets set 
for reducing our CO2 emissions and achieving carbon neu-
trality, and the development of sustainable products and 
services. For 2021, the sustainable development targets 
measured by COKR made up 10% of the weight of the targets 
for the Board of Directors member who is directly respon-
sible for sustainable development, 5% of the weight of the 
CEO’s target, 5% of the weight of targets for another Board of 
Directors member, and 5-40% of the weight of the targets set 
for another 16 employees in the most senior management 
of the bank. 
Employee benefits and advantages 
to foster identification with the KB Group 
The cost-effective structure of benefits reflects our ambition 
to be a responsible employer while providing our employees 
with a choice. The structure and scope of benefits is subject to 
collective bargaining and the agreement then achieved on an 
annual basis. 
For 2021, the following structure had been agreed: 
•	
CZK 100 meal vouchers paid in full by the employer; 
•	
CZK 6,720/employee/year for recreation, sport, health, 
culture, and personal development to be used through the 
Cafeteria system; 
•	
	CZK 5,000/year for employees included in the category of 
persons with a health disadvantage, and CZK 600/year for 
55+ employees to be used through the Cafeteria system; 
Equal remuneration is the fundamental pillar of the 
diversity strategy at KB. Its objective is a zero gender pay 
gap by 2025.
THE PRINCIPLE OF JUSTICE

•	
	A contribution to a private pension scheme or to supplemen-
tary pension savings amounting up to 3% of the wage; 
•	
	Premium terms and conditions for the retail banking prod-
ucts and services provided by KB to is employees; 
•	
	Financial support in the event of long-term illness; 
•	
	Two days off with wage compensation and one extra day 
off with wage compensation for employees employed at KB 
continuously for five years or more; 
•	
	One birthday day; 
•	
	Term assurance; 
•	
	Extraordinary social assistance; 
•	
	A sabbatical leave; 
•	
	One day off with wage compensation for corporate volun-
teering in areas supported by KB and the Jistota Founda-
tion; 
•	
	A 24/7 help line for assistance and consultation in various 
situations, such as family law, commercial law, healthy life-
style, consultations with a psychologist. It also includes fi-
nancial crisis advice to handle enforcement proceedings or 
personal bankruptcy, and also advice related to the covid 
pandemic; 
•	
	A contribution to support earlier return from ML/PL. 
Benefits for full-time employees are also applicable to 
part-time employees. Our treatment only differs for temps (work-
ers under an ‘agreement to perform work’ (in Czech DPP) or an 
‘agreement to complete a job’ (in Czech DPČ)). 
Prevention and sanctioning 
of any form of undesirable conduct  
We have long been striving to prevent and eliminate any form 
of conduct contrary to the KB Group’s values and the principles 
44
stipulated in the Code of Conduct, internationally applicable 
standards, and local regulations. As part of this effort, we have 
incorporated into our regulatory base the SG Group’s policy to 
combat and punish undesirable conduct in all its forms, includ-
ing mental and sexual harassment, or sexist, racist or homopho-
bic behaviour. 
In 2021, we recorded four cases of discrimination report-
ed by employees. All cases were investigated internally by the SG 
Group’s set rules and processes. The report on discrimination was 
not proved to be substantiated in any of those cases and therefore 
no remediation plan had to be implemented for addressing the 
situation. 
In the event that an employee becomes a witness or even 
a direct participant in any incident of undesirable conduct, they 
can alert their line manager or colleagues in Human Resources 
or Compliance. The employee can also use the secure web ap-
plication for whistleblowing, which is available for all SG Group 
companies. In line with the SG Group’s global rules, we extend 
protection to whistleblowers against retaliation in any form, 
employment termination, or discrimination. We also ensure 
anonymity of the whistleblowers. Together with the SG Group, 
we have also reinforced the processing of reports on undesira-
ble conduct. For this purpose, an international group of experts 
has been set up; they are available to employees anywhere in the 
world. The group includes HR specialists and employees of sales 
departments, including KB, who have been specifically trained 
for handling whistleblowing reports. The group members follow 
stringent principles of impartiality and confidentiality. 
The objective of all these initiatives is to apply a zero tol-
erance policy and ensure that no employee is exposed to unde-
sirable conduct. 
2021
2019
2020
 15.8%
 15.1%
 16.7%
EMPLOYEE TURNOVER (%)
SICKNESS RATE (%)
2020
 3.35
2019
 2.89
 3.00
2021
Higher sickness rate in 2020 was due to Covid-19.
1.4% natural turnover (e.g., retirement or death), 8.8% on the employee's decision, 2.6% controlled (e.g., end of agreed term), 
3.9% notice of termination by KB.

45
KB Sustainability Report 2021
Age category
Gender
Age category
Gender
 ≤ 30, 554 
 30–50, 536 
 51+, 79 
2019
 men, 409 
 women, 760 
2019
 ≤ 30, 331 
 30–50, 672 
 51+, 296 
2019
 men, 371 
 women, 898 
2019
 ≤ 30, 278 
 30–50, 608 
 51+, 305 
2020
 men, 356 
 women, 835 
2020
 men, 324 
 women, 588 
2020
 ≤ 30, 447 
 30–50, 413 
 51+, 52 
2020
NEW HIRES IN 2021 (947), 2020 (912) AND 2019 (1,169)
EMPLOYEE DEPARTURES IN 2021 (1,279), 2020 (1,191) AND 2019 (1,269)
 ≤ 30, 457 
 30–50, 423 
 51+, 67 
2021
 men, 345
 women, 602 
2021
 ≤ 30, 382 
 30–50, 658 
 51+, 239 
2021
 men, 367 
 women, 912 
2021
New employees are recruited to the Czech Republic. 
Employee attrition concerns the Czech Republic.

46
 ≤ 30    30–50    51+
Age category (%)
Admin/Support/Routine
Creative Specialists
Management
Sales
 men    women
Gender (%)
Admin/Support/Routine
Creative Specialists
Management
Sales
 14
 53
 50
 29
 86
 47
 50
 71
 40
 12
 48
 9
 3
 23
 63
 28
 63
 34
 53
 24
NB: Algorithms other than 
previously were used for these 
calculations.
ALL EMPLOYEES

47
KB Sustainability Report 2021

48
KB Sustainability Report 2021

49
GOVERNANCE
4

In our business, we follow the principles of ethics and 
laws and regulations, we do not support or tolerate of 
any form of fraudulent conduct, corruption, violation 
of competition rules, discrimination or harassment. We 
look after the quality of the natural and social environ-
ment and, following the SG Group’s  rules, restrict the 
provision of financial products to sectors having poten-
tially adverse impacts. 
Rules of conduct 
We at KB are aware that the basic prerequisites for the com-
pany’s  successful development include our employees’ 
professional and ethical conduct. Such conduct is based on 
building transparent relationships with clients and deep-
ening trust between KB and its stakeholders. The KB Group 
has defined rules of ethical behaviour and conduct for its 
employees, which are based on both the general obliga-
tions laid down by regulatory requirements and the profes-
sional conduct standards applicable to banking. These obli-
gations also include distinct rules for the protection against 
conflicts of interest, rules for accepting gifts, rules for pro-
tection against influence peddling, and rules for protection 
against confidential information abuse. The principles of 
ethical conduct and the obligation to abide by these rules 
are binding on all employees and are set out in the compa-
ny’s internal regulations. A Société Générale and KB training 
programme helps to raise our employees’ awareness of eth-
ical conduct. It is designed for all KB Group employees and 
focuses on the principles of conduct and values applicable 
to individuals and the whole Group. 
We rigorously follow the policy of zero tolerance of 
any form of fraudulent conduct, corruption, violation of 
competition rules, discrimination or harassment. We fully 
respect the Code Governing the Fight against Corruption 
and Influence Peddling for the SG Group, available at https://
www.societegenerale.com/en/societe-generale-group/eth-
ics-and-compliance/code-of-conduct
Code of Conduct 
At the level of the SG Group, we as a bank are bound by the 
SG Code of Conduct, which covers all the areas where the SG 
Group has made commitments. These include, for example, 
zero tolerance of discrimination, the treatment of confidential 
information, conflicts of interest, insider trading, or whistle-
blowing. In addition to this, the SG Group also applies a specif-
ic code on taxation issues, available https://www.societegen-
erale.com/en/societe-generale-group/ethics-and-compliance/
code-of-conduct. These publicly accessible principles govern 
the SG Group’s activities worldwide, and are therefore appli-
cable to and promoted by KB. Our website posts information 
about our and our external partners’ corporate culture (see 
www.kb.cz/dodavatele and https://www.kb.cz/en/about-the-
bank/everything-about-kb/we-do-business-br-sustainably/
economic-br-sustainability). All our employees are trained at 
the beginning of their employment and then regularly every 
two years. In addition, KB and the SG Group have designed 
specialised bespoke training courses for high-profile employ-
ees, who are trained more frequently or on an ad hoc basis. 
Only employees who are absent for long periods or on mater-
nity/parental leave do not attend such ongoing training. 
Since 2020, all new employees have been obliged 
to confirm by their signature that they have read and un-
derstood the applicable version of the SG Code of Conduct. 
From the very beginning of the recruitment process, all can-
didates for a job in the KB Group are informed about the 
existence of the SG Code of Conduct and the Code Govern-
ing the Fight against Corruption and Influence Peddling for 
the SG Group, and are obliged to follow the rules contained 
therein. 
Adherence to the SG Code of Conduct is enshrined 
in job responsibilities and through the clearly defined re-
porting channels both in our bank and in the KB Group. 
Relevant contact details are available at https://www.kb.cz/
en/about-the-bank/contacts. Compliance with this Code 
is linked to the employee remuneration rules; in the event 
of a breach of risk compliance, a letter of reprimand or em-
ployment termination may follow. 
The system of internal controls (first level controls, 
FLC, and second level controls, SLC), regular monitoring of 
the key risk indicators, promoting and evaluating the whis-
tleblowing system, identifying the risks in exposed areas 
(including those of corruption and conflict of interests), and 
training programmes rounded off by testing – all of these 
are the tools for continuously verifying the efficiency of the 
adopted rules of conduct. 
The compliance system is regularly checked by sev-
eral entities and institutes, specifically internal audit, SG su-
pervision, or the Czech National Bank. The Czech National 
Bank acts as a regulator of Czech banks and those conduct-
ing business in the Czech Republic, over which it exercises 
continuous oversight. Supervision is exercised remotely 
and on site. 
Anti-corruption measures 
The adoption of and compliance with clear anti-corruption 
rules and zero tolerance of any form of corruption consti-
tute the basic standards and basis for socially responsible 
business and the only way for the whole KB Group to sustain 
and strengthen its position, including that in the compet-
itive market. The anti-corruption measures are applicable 
to the bank and its activities and employees, and to third 
parties, i.e. our clients, suppliers and providers of financial 
services. The rules and principles of combating corruption 
and bribery are enshrined in the internal regulations and 
are also part of compulsory training for all employees. 
Our suppliers and other business partners have 
also been bound to compliance with anti-corruption rules 
through contract clauses. Entering into a new business re-
lationship with a business partner is subject to a precisely 
specified procedure. We always investigate adverse informa-
tion about a natural or juristic person, such as information 
about ongoing administrative or criminal proceedings relat-
ed to money laundering or terrorism financing, corruption, 
fraud, tax evasion, sanctions, or negative experience of our  
50

51
KB Sustainability Report 2021
cooperation in the past. The scoring model for assessing the 
risk of a new business partner defines the scale from low to 
high risk. Risk factors are assessed on the basis of geograph-
ical location, industry, reputation (negative media reports, 
corruption, bribery, fraud...), sanctions, and checks against 
lists of politically exposed persons (PEP). Business partners 
showing signs of these factors are rated as very risky. High-
risk business partners are referred to Compliance and SG 
Compliance for approval. 
Before entering into a new business relationship with 
any financial service provider, we always perform a review 
in accordance with regulatory requirements in connection 
with financial crime. The scoring model for risk assessment 
is similar to that for client assessment. 
To date, we have not registered any external investi-
gations into breaches of anti-corruption policies. 
The Compliance Department is responsible for set-
ting anti-corruption rules. In view of the SG Group’s empha-
sis on this area, we have introduced a number of measures, 
including updating our internal anti-corruption rules, tight-
ening the rules for accepting and offering gifts and invita-
tions by employees, the rollout of a database tool to record 
gifts and invitations, and setting up a system of compliance 
monitoring and controls. All managers concerned have also 
attended personal training sponsored by Compliance. 
The Compliance Department is also responsible for 
setting rules to prevent bribery. These rules are in line with 
the SG Group’s principles and its Anti-corruption Code. The 
set of rules is regularly updated and contains, in particular, 
areas such as reporting, accepting and offering gifts, hos-
pitality, external events, procedures for third party assess-
ment, contributions to sport, gifts to charity, mergers and 
acquisitions, and lobbying. 
We did not register any documented case of corrup-
tion or bribery in 2021. There are no ongoing external inves-
tigations by national or international bodies. 
Interest representation 
When promoting the bank’s interests with public authorities 
(lobbying), we follow clearly defined rules. The employees 
who carry out lobbying activities must comply with the 
rules and provisions concerning the fight against corruption 
and influence peddling, as described in the Code Govern-
ing the Fight against Corruption and Influence Peddling for 
the SG Group and in KB’s internal regulations on lobbying. 
In addition, they must attend a mandatory anti-corruption 
training course for persons exposed to an increased risk of 
corruption, and report any situation that may constitute 
a breach of internal or regulatory rules through the whistle-
blowing procedure. 
Employees can represent the bank’s views and posi-
tions in professional associations and other institutions of 
which KB is a member (e.g., the Czech Banking Association). 
If a KB employee enters into dealings with a public/govern-
mental official, they shall act as a representative of a pro-
fessional association. The opinions of our employees are, in 
principle, considered to be the opinions of the associations 
rather than the bank, and we therefore do not consider ac-
tivity in professional associations to be lobbying. 
Contributions to political campaigns or organisa-
tions or other groups whose role is to influence political 
campaigns or public administration or legislation are pro-
hibited by KB’s  internal regulations. We rigorously follow 
a course of political neutrality and refrain from supporting 
any political organisations or activities through donations 
or subsidies, even where permitted by the legislation. We 
granted the only contributions – in the form of standard 
membership dues – to industry or trade associations (e.g., 
the Czech Banking Association) in 2021; they totalled CZK 
9.5 million. 
Whistleblowing 
We regard the timely identification and a well-working sys-
tem for reporting potential risks (whistleblowing system) as 
one of the key tools for compliance risk management. 
We completely restated the rules governing the right 
to blow the whistle and the rules governing the investiga-
tion into the submitted reports in 2021. At present, a new 
separate internal instruction that reflects the SG Group’s re-
quirements in this area and also those of the EU Directive on 
the protection of whistleblowers governs this area. 
The whistleblowing right gives every whistleblow-
er an opportunity to raise concerns (‘speak up’), without 
having to fear retaliatory measures or sanctions, that there 
has been a breach of internal rules or laws and regulations 
when the received instruction, contemplated transaction 
or, in general, any situation of which they have learned is 
not in compliance with the SG Group’s rules or standards of 
ethics or when they believe that a conflict with laws and reg-
ulations could occur. 
Any employee, external or temporary worker and, 
as part of the due diligence duty, any service provider with 
whom KB has a business relationship (such as supplier/con-
tractor or subcontractor) can be a whistleblower. 
The principles of 
ethical conduct and the 
obligation to abide by 
these rules are binding 
on all employees. 
ETHICS

Within KB, whistleblowers can submit reports via 
their managers, or via Compliance, using any suitable form. 
Reports can also be sent to a specialised e-mail box at whis-
tleblowing@kb.cz. Whistleblowing reports can also be sent 
directly to the parent company Société Générale via a se-
cured web platform. 
Prevention of crime, money laundering (AML), 
terrorism financing, and circumvention 
of international sanctions 
We spare no effort to prevent misuse of our services for any 
purposes related to money laundering, terrorism financing 
or circumvention of international sanctions. We apply rules, 
methods, and verification procedures in accordance with 
the relevant legislation, standards, and SG Group rules. 
In 2021, Compliance focused, in respect of the pre-
vention of money laundering and terrorism financing, on 
adjusting the internal control environment in the wake of 
the passing of an amendment to Act No 253/2008 on Some 
Measures against Money Laundering and Terrorism Financ-
ing and to the CNB’s Regulation 67/2008 on Some Require-
ments on the System of Internal Policies, Procedures and 
Control Measures against Money Laundering and Terror-
ism Financing, and to Act No 37/2001 on Records of Bene-
ficial Owners. Compliance also created the conditions for 
updating internal processes and rules in line with the SG 
Group’s programmes. 
We verify and update the internal system of preven-
tion on a regular basis. Information is continuously shared 
with all employees in the form of operational reports or 
face-to-face training or e-learning courses. We have imple-
mented at KB a system for monitoring all transactions and 
business relationships. Publicly available policies and pro-
cedures concern mainly the rules on obtaining information 
about customers (KYC), including client identification and 
due diligence, terrorism financing, and politically exposed 
persons. (For more details see https://www.kb.cz/en/about-
the-bank/documents) 
We post the procedures that represent our corpo-
rate culture in this area on our website at https://www.
kb.cz/getmedia/7c5bcb7d-2a27-42a5-8840-1316907e7fba/
Identifikace-a-kontrola-klienta.pdf.aspx; and https://www.
kb.cz/getmedia/5e0acf2e-2b8b-45fb-97da-d2a31203a9c6/
kb-20200731-zakladni-shrnuti-politiky-proti-pranispina-
vych-penez.pdf.aspx
We rigorously comply with the internal rules and pro-
cedures for client onboarding to ensure due client identifi-
cation and obtain the necessary information about clients 
(Know Your Client, or KYC), the necessary information about 
suppliers (Know Your Supplier, or KYS), or the necessary in-
formation about financial service providers (Know Your Pro-
vider, or KYP). The KYC rules are applied to specific groups 
of clients, including private individuals, organisations, and 
small businesses/sole traders accordingly. 
In 2021, Compliance analysed 8,791 business cases 
or requests for entering into business relationships in excess 
of the standard assessments. Further to that, Compliance 
recommended to terminate 726 client relationships and re-
jected the entering into a contractual relationship with 426 
applicants. Records are kept for ten years from the end of 
our relationship with the client. We carry out an independ-
ent evaluation of the monitoring procedures every year. 
All employees, including senior management, must 
go through online training in the prevention of money laun-
dering and terrorism financing, KYC, and anti-corruption 
conduct, and pass a test at the end of the course. Intranet 
training includes case studies and computer training with 
self-evaluation. In addition, Compliance trains selected em-
ployees in person. 
In 2021, the AML unit checked 60,577 cases received 
from various KB units (in 2020: 48,439, in 2019: 775; in 2018: 
815; the year-on-year increase in 2021 was caused by the 
adoption of new rules for approving new clients and trans-
actions and the implementation of seven new risk scenari-
os). 
In terms of fight against evasions of international 
sanctions, KB has developed sophisticated measures, in-
cluding daily checks of the entire client portfolio against 
sanction lists, checks of all transactions for non-compliance 
with sanctions, as well as checks of products and services, in 
particular in external trade and exports. We check all these 
transactions online in real time. The checks require mainly 
(but not only) a thorough knowledge of the client’s activi-
ties, the reasons for the transaction, and relationships with 
counterparties. 
Employee training 
As noted above, at KB we operate a sophisticated system 
of employee training. Depending on their job description, 
employees attend specified training. Such training is oblig-
atory for all employees, while selected training is designed 
only for a certain targeted group of employees. 
All employees attend the following training: safety 
at work, fire protection, Compliance and Code of Conduct, 
risk management culture, security awareness, reputation-
al risk, e-starting, internal regulations, money-laundering 
prevention, and tax transparency including FATCA (Foreign 
Account Tax Compliance Act). In 2021, all of the bank’s em-
ployees went through a course in sustainability and KB’s ap-
proach to this issue. 
In line with their specialisation and job focus, em-
ployees undergo certification, and attend training in spe-
cific regulatory issues, or specialised training for managers 
and superiors. Employees involved in the sale of certain 
products, such as consumer loans, insurance policies, sup-
plementary pension savings or investment tools, must 
pass specialised examinations required by the regulatory 
scheme. Training is not required in the case of maternity/
parental leave or long-term absence from work. 
Training is organised at the beginning of the employ-
ment, and subsequently repeated on a regular basis. Some 
training courses are custom tailored to certain employees 
and repeated more often. Meeting all mandatory training 
requirements is closely monitored. The employee is au-
52

53
KB Sustainability Report 2021
tomatically alerted every month if they did not meet a re-
quirement. 
Protection of competition 
We had earlier adopted at KB an internal directive on the 
protection of competition, which is based on the general 
obligations laid down by regulatory requirements and SG 
Group standards. The internal directive describes the reg-
ulatory framework, identifies the banking sector’s risk are-
as, and prescribes employees’ conduct when dealing with 
third parties and the regulator so that employees are ade-
quately informed about risks and the ways to prevent them. 
Selected employees also attend internal training in this re-
spect. Employees acting on behalf of the bank at the Czech 
Banking Association also agree to comply with the Associa-
tion’s rules for the area. 
For 2021, we have not been fined for any infringe-
ment of the competition rules, nor were we subjected to any 
investigation into anti-competition practices. 
Relations with suppliers, 
and the supplier chain 
In our relationships with suppliers, we ensure full compli-
ance with all legal obligations, and also environmental 
protection and respect for social and human rights and for 
the sustainable development principles. We implement 
the principles of the SG Group’s sourcing policy, which we 
consider to be the expression of our risk management re-
sponsibility. We make full use of the Know Your Supplier 
(KYS) methodology for identifying and evaluating infor-
mation about suppliers and potential suppliers to prevent 
cooperation with those who violate the applicable rules of 
taxation, of fight against money laundering and terrorism 
financing, or corruption, or may be involved in other ille-
gal activities. We have tightened our scrutiny of suppliers’ 
governance bodies and beneficial owners, and of political-
ly exposed persons having relationships with the supplier. 
Suppliers are also carefully screened against registers such 
as the EU sanctions list, US sanctions and embargoes, and 
the UN Security Council lists. The KYS activities also include 
rules for establishing business relationships with suppliers 
operating in sensitive sectors from the perspective of re-
sponsible banking (e.g., energy). As part of our corporate 
climate change policy, we promote responsible sourcing 
that considers environmental aspects, i.e., reducing ener-
gy consumption, waste generation, and carbon footprint. 
To identify the risks that arise from our and our suppliers’ 
activities and to prevent serious violations of human rights 
and fundamental freedoms, health and safety of persons, 
and environmental protection, we have adopted the nec-
essary measures to comply with statutory and regulatory 
obligations and with the SG Group’s Code of Conduct, and 
have also involved our suppliers in their implementation. 
All the commitments and expectations adopted by the bank 
in relation to our suppliers regarding compliance with the 
principles concerning human rights, working conditions, 
the environment, ethical conduct, and the fight against 
corruption, bribery, and influence peddling are detailed in 
the Charter of Responsible Sourcing, the SG Group Code of 
Conduct, and the Code Governing the Fight against Corrup-
tion and Influence Peddling for the SG Group. By entering 
into a contract, the suppliers declare to respect the commit-
ments and comply with the obligations set out therein. The 
Codes and Charter are posted at https://www.kb.cz/en/sup-
pliers. In 2021, more than 75% of the suppliers with whom 
we cooperated were local suppliers. 
Implementation of sustainability 
principles in sourcing	
Société Générale has developed binding rules for the whole 
SG Group for the supplier selection process and contract 
awarding. Sustainability is one of the criteria for evaluation, 
and KB therefore identifies, as part of decision-making on 
cooperation with a  supplier, the potential environmental 
and social risks (the environment, human rights, attitude to 
people, ethics, and credibility). 
Société Générale has developed binding rules 
for the whole SG Group for the supplier selection 
process and contract awarding. Sustainability
is one of the criteria for evaluation.
TENDERS

54
KB Sustainability Report 2021
We have developed 
an environmental and social risk 
management system (ESRM) 
that helps to identify and assess 
risks of the bank’s corporate 
clients.
RISK MANAGEMENT

55

56
Selection process participants to whom this proce-
dure applies commit to compliance with the Sustainable 
Sourcing Charter (more at https://www.kb.cz/en/suppliers), 
which specifies the principles in respect of human rights, 
working conditions, the environment, and fight against cor-
ruption. 
Four risk categories (low, medium, high, and very 
high) have been established for the services and goods sup-
plied. In respect of the very high risk category (such as refur-
bishments and constructions, facility management – waste 
management, and videoconference and mobile equipment 
and devices), all selection process participants receive 
a more detailed questionnaire that helps us to evaluate the 
above risks. In the evaluation of bids, these risks are some 
of the criteria whose weight is subject to the rules set for the 
SG Group and depend on the environmental and social risk 
entailed in the supplier category and on the final decision of 
the person approving the selection process. 
This procedure was put in place in 2020, and in 2021 
we therefore carried out all selection processes including 
these parameters. 
In 2021, we completed more than 100 selection pro-
cesses; of those, approximately 25% were assessed as very 
high risk from the sustainability perspective, and we there-
fore screened the supplier against the above criteria. As 
a result, none of the solutions selected had a negative im-
pact in terms of environmental or social risks. 
Sustainability in financial services (SFDR) 
In accordance with the Regulation of the European Par-
liament and of the Council on sustainability-related dis-
closures in the financial services sector (SFDR), we at KB 
disclose specific information about our approach to the in-
tegration of sustainability risks and the consideration of the 
adverse impacts on sustainability. 
In 2021, we posted on our website a statement with 
information about KB’s approach and policies on the inte-
gration of sustainability risks in KB’s investment decision – 
making process (Article 3). The statement explains how we 
take into account adverse impacts on sustainability at the 
entity level (i.e. financial market participant) and the finan-
cial adviser level (Article 4). We also published the manner 
in which sustainability risks are integrated into investment 
decisions of the financial market participant and financial 
adviser, adding in pre-contractual product disclosures a ref-
erence to this statement (Article 6). We have also adjusted 
our remuneration policy by including information about the 
integration of sustainability risks (Article 5). 
In 2022, we will update those statements to in-
clude new relevant information primarily concerning the 
integration of sustainability risks and the taxonomy of 
pre-contractual information (EU Taxonomy, Articles 5, 6 
and 7). We plan to fully integrate the principal adverse im-
pacts of investment decisions on sustainability factors at 
the entity level (Article 4) and the product level (Article 7) 
and publish them in regular reports in the coming years, 
beginning in 2023. 
Environmental and social 
risk management 
At KB, we have developed an environmental and social 
risk management system (ESRM) that helps to identify 
and assess risks of the bank’s corporate clients from the 
perspective of the potential origination of serious damage 
or adverse impacts of their activities on the environment, 
human health and safety, and human rights and funda-
mental freedoms. The impact of these factors may re-
sult in non-compliance with our rules and commitments, 
non-performance of the obligations and responsibilities 
under the applicable legislation or the KB Group’s or SG 
Group’s environmental and social commitments, damage 
to our good reputation, and potentially also credit risk, 
including the risk of physical damage to clients’ assets 
caused by environmental or social factors, such as climate 
change or industrial disasters. 
Ms Jitka Haubová, on KB’s Board of Directors, su-
pervises environmental and social risk management and 
the whole sustainability agenda. Factoring KB and SGEF, 
subsidiaries in the KB Group, fully adhere to KB’s  ESRM 
rules when assessing clients and transactions. In the lease 
organisation ESSOX, the ESRM system will be implement-
ed in 2022. A coordinator who is responsible for the imple-
mentation of the ESRM system and adherence to the ESRM 
rules in the relevant subsidiary has been appointed for ESG 
risk management in each of the KB Group’s subsidiaries. 
They coordinate their approaches with KB’s E&S experts. 
The implementation of this system is a prerequisite 
for the successful development of our business over the 
long term, and is also related to the SG Group’s commit-
ments. In 2007, the SG Group committed to adopt the Equa-
tor Principles, a voluntary risk management framework for 
assessing environmental and social risks in projects. The 
SG Group is also a founding member of the United Nations 
Environment Finance Initiative (UNEP FI), a UNEP partner-
ship for sustainable development. In 2019, SG signed the 
Principles for Responsible Banking, thereby committing to 
integrate the sustainable banking principles into all its ac-
tivities, including the adoption of its own goals in support 
of the Paris Agreement on climate change. 
At KB, we fully respect the trade restrictions on the 
provision of banking services and products for trading in 
certain types of weapons, ammunition, and military mate-
rial. We do not finance the export of weapons and military 
material to countries involved in armed conflicts and to 
countries with non-democratic and authoritarian govern-
ments. These restrictions also apply to private or public 
entities or business groups whose activities in the defence 
industry are considered to be non-transparent. 
The purpose of the ESRM system is to make sure that 
we do not finance companies participating in excluded  
activities (by recording the relevant company in the list of 
excluded companies shared across the SG Group (SG Ex-
clusion List)) and that at all times we thoroughly assess the 
E&S risks in serving clients operating in sensitive sectors, 
and also that the services for the client or the execution of

the transaction are in accordance with the requirements of 
environmental, labour, and social regulations and that the 
client or transaction are not associated with a significant 
reputation and credit risk jeopardising the ability to pay 
the loan because of environmental and/or social factors. 
In 2021, working with the SG Group we started to 
implement the EBA’s Guidelines on loan origination and on 
EBA Pillar 3 disclosure of ESG exposure to transition risks 
and physical risks. The climate transition risks are already 
being assessed when assessing transaction credit risks in 
four sensitive sectors (metallurgy, the extraction industry, 
transport, and the automotive industry), using a specifi-
cally designed tool determining the client’s  Climate Vul-
nerability Indicator (CVI). This tool helps to assess clients’ 
financial capability for the transition of their business ac-
tivities potentially impacted by the changing regulations, 
market preferences, external costs, and new technology. 
The E&S risk assessment process is closely related 
to the KYC process. In respect of the current customers, 
E&S  risk assessment is conducted regularly and simul-
taneously with renewing credit lines. However, besides 
new client onboarding or regular checks of current cli-
ents, E&S  risk assessment may also be necessitated by 
the client’s  new need for a  financial product or service, 
the need to update or review due diligence, or other major 
E&S events concerning the clients, including changes in the 
obligations accepted by KB, changes in the client’s own-
ership structure, a reputational or legal controversy con-
cerning the client, or changes in the relevant legislation. 
Approval of a business relationship with a client on the ba-
sis of E&S risk assessment may be conditional on the im-
plementation of an agreed programme of addressing the 
risks identified. 
Climate strategy in the coal sector 
As part of its contribution to the fight against climate 
change, the SG Group adopted its Climate Strategy in 2019. 
In the strategy, the SG Group has pledged to refrain from 
providing any new active funding to companies having 
more than 50% of their annual revenue linked to the coal 
sector (coal mining and transport, coal trading, and energy 
use of coal for electricity or heat generation). 
We at KB have also decided to phase out the funding 
of clients associated with coal mining or use, in particular in 
the electricity and heat supply industries. We thus help to ex-
ert pressure on these companies to transit to cleaner energy 
sources. We have committed to progressively reduce to zero 
by 2030 our funding of clients’ activities in the coal sector. In 
2022, we started to lend only to companies, even if associat-
ed with coal activities only partly, that will have a clearly stat-
ed commitment to discontinue their coal activities until 2030. 
Sustainable Finance Commission 
In 2021, the Czech Banking Association (CBA) member 
banks set up a Sustainable Finance Commission. Ms Hana 
Kovářová, Executive Director, Brand Strategy and Communi-
cation, was elected as the Commission Chair. The Commis-
sion will focus on the question of how banks can specifically 
help to create conditions for the sustainable development 
of the Czech Republic. In 2021, we at KB signed the CBA Sus-
tainable Finance Memorandum, in which together with oth-
er banks we confirmed our commitment to create a busi-
ness environment conducive to the country’s  sustainable 
and socially responsible development. KB is one of the in-
itiators of such development. By signing the Memorandum, 
we have committed to strengthen environmentally and so-
cially responsible business in the Czech Republic. 
57
KB Sustainability Report 2021
By signing the CBA Sustainable 
Finance Memorandum, 
we have committed to strengthen 
environmentally and socially 
responsible business in the Czech 
Republic. 
SUSTAINABLE FINANCING

58
Commitment/ 
Initiative
Year when   
adopted
Description
KB’s involvement
SUSTAINABLE 
FINANCE 
MEMORANDUM 
2021
In 2021, the Czech Banking Association (CBA) mem-
ber banks set up a Sustainable Finance Commission. 
Ms Hana Kovářová, Executive Director, Brand Strat-
egy and Communication, was elected as the Com-
mission Chair. The Commission will focus on the 
question of how banks can specifically help to create 
conditions for the sustainable development of the 
Czech Republic. 
In 2021, KB signed the CBA Sustainable Finance Memoran-
dum, in which together with other banks we confirmed our 
commitment to create a business environment conducive 
to the country’s sustainable and socially responsible devel-
opment. By signing the Memorandum, we have committed 
to strengthen environmentally and socially responsible 
business in the Czech Republic. 
NET-ZERO BANKING 
ALLIANCE 
2021
Societe Generale has strengthened its position as 
a leader in the ecological transition by joining the 
UNEP-FI Net-Zero Banking Alliance as a founding 
member, and undertakes to align its portfolios with 
trajectories aiming at carbon neutrality by 2050 with 
the ambitious goal of limiting global warming to 
1.5 degrees Celsius. The SG Group commits to pro-
actively manage its financing portfolios in line with 
trajectories aiming at achieving carbon neutrality by 
2050, prioritise portfolios with the highest emission 
levels and which will have the biggest impact, and 
set out intermediary alignment targets for 2030, and 
ensure full transparency with annual publication of 
progress made in relation to our alignment work. 
The SG Group, including KB, has been progressively align-
ing all of its portfolios with the Paris Agreement objectives. 
With this new commitment, the SG Group and KB will accel-
erate their effort accordingly. In 2019, the SG Group and KB 
adopted the objective of reducing by 2030 their exposure 
to clients with assets in coal mining and coal-fired energy 
installations in the EU and OECD countries. KB also sup-
ports the SG Group in its commitment to reduce its oil & 
gas portfolio by 10% by 2025. KB commits to play the cen-
tral role in the energy transition of the Czech Republic and 
Slovakia.
KB CARBON 
NEUTRAL BY 2026
2020
In 2020, we first had our carbon footprint measured 
for 2019. The result showed that our emissions were 
23 kg CO2e per client. Year-on-year, we reduced our 
emissions by 35% and in 2020 emissions per cli-
ent amounted to 15.2 kg CO2e. The reduction was 
achieved at almost all of the 18 identified emissions 
sources that we include in reporting. 
KB has adopted its own commitment to progressively re-
duce its own carbon footprint. We are on the path towards 
carbon neutrality, which we want to achieve by 2026. The 
reduction plan and all information about our carbon foot-
print are available for the public at https://www.kb.cz/
en/about-the-bank/everything-about-kb/we-do-busi-
ness-br-sustainably/environmental-br-sustainability
UN CFO 
PRINCIPLES
2020
UN Global Compact initiative to establish guiding 
principles and best practices for SDG-aligned corpo-
rate finance and investment opportunities. The CFO 
Principles supplement the UN Global Compact’s Ten 
Principles to support companies in the transition 
to sustainable development.  SG was the first com-
mercial bank to sign CFO Principles on SDG-aligned 
finance.
In principle, SDGs are partly already included in KB’s cor-
porate finance in the ESRM process and will be further en-
hanced in KB’s green lending.
IEA SDS SCENARIO 
AS THE REFERENCE
2020
The International Energy Agency’s Sustainable 
Development Scenario (IEA SDS) outlines a major 
transformation of the global energy system to deliv-
er on the three main energy-related SDS including 
the Paris Agreement, energy access, and air quality 
goals. (SG has set a new target to align its oil & gas 
portfolio with the IEA SDS and accelerate its coal exit 
strategy.)
SG’s new target is being incorporated into the relevant E&S 
sectoral policies, which became fully applicable to KB once 
officially published (in January 2022).
SG GROUP CLIMATE 
COMMITMENTS
2019
SG has committed to contribute to climate change 
limitation and to progressively reduce to zero its 
exposure to the thermal coal sector, at the latest in 
2030 for companies with thermal coal assets located 
in EU or OECD countries, and in 2040 elsewhere. The 
commitment is implemented through SG’s Thermal 
Coal Policy. Under its medium term objectives, SG 
has also committed to limiting its exposure in the oil 
& gas sector by 10% by 2025. 
The commitment to stop financing companies related to 
the coal sector is implemented through SG's sectoral poli-
cies on Thermal Coal and Thermal Power. The commitment 
to reduce exposure in the oil & gas sector was integrated 
into the updated version of the Oil & Gas Sectoral Policy in 
January 2022.  
KB CLIMATE 
STRATEGY (as part 
of SG's contribution 
to fight against 
climate change)
2019
KB has committed to refrain from providing any new 
active financing to companies having the greater 
part of their annual revenue linked to the coal sector 
(coal mining and transport, coal trading, and energy 
use of coal for electricity or heat generation).
Further to the SG Group's climate commitments, KB has 
also decided to phase out the funding of clients associated 
with coal mining or use, in particular in the electricity and 
heat supply industries. We thus help to exert pressure on 
these companies to transit to cleaner energy sources. We 
have committed to progressively reduce to zero by 2030 our 
funding of clients’ activities in the coal sector. From 2022, 
we will lend only to companies, even if associated with coal 
activities only partly, that will have a clearly stated commit-
ment to discontinue their coal activities until 2030. 
COMMITMENTS TO SG’S AND KB’S EXTERNAL INITIATIVES

59
CLIMATE 
DISCLOSURE 
- TCFD (Task 
Force on Climate-
related Financial 
Disclosures)
2019
Guidelines and recommendations for climate-relat-
ed finance disclosures prepared by the Task Force 
team (31 members from private and public organi-
sations in G20). Provides a framework for companies 
and other organisations to develop more effective 
climate-related financial disclosures through their 
existing reporting processes. TCFD issues annually 
a status report describing the alignment of compa-
nies’ reporting with the TCFD recommendations. 
SG releases climate-related reports aligned with the TCFD 
guidelines on behalf of the entire SG Group (including KB). 
No separate obligation for KB. 
POSEIDON 
PRINCIPLES, 
GETTING TO ZERO 
COALITION
2019
The Poseidon Principles are a global framework for 
assessing and disclosing the climate alignment of 
financial institutions’ shipping portfolios. They pro-
mote a low carbon future for the global marine ship-
ping by integrating climate considerations into bank 
portfolios and credit decisions. They are consist-
ent with the International Maritime Organization’s 
(IMO) ambition to reduce shipping’s greenhouse gas 
emissions by at least 50% by 2050. (SG is one of the 
founding signatories.)
Maritime shipping is not relevant for KB’s portfolio. 
PRINCIPLES FOR 
RESPONSIBLE 
BANKING, 
COLLECTIVE 
COMMITMENT ON 
CLIMATE ACTION
2019
Principles for Responsible Banking are a framework 
for ensuring that the signatory banks’ strategy and 
practice align with the UN’s Sustainable Develop-
ment Goals and the Paris Agreement. The six Prin-
ciples are supported by a strong implementation 
framework that defines clear lines of accountability 
and requires each bank to set, publish and work to-
wards ambitious targets. SG is a founding signatory 
and core member defining the principles. 
The Principle’s main objectives are incorporated in KB’s 
ESRM process implemented in 2020.
SUSTAINABLE IT 
CHARTER
2019
The Sustainable IT Charter is a voluntary commit-
ment drawn up by France-based Institut du Numéri-
que Responsable (Sustainable IT Institute) and 
aiming to limit the environmental impacts of digital 
technology, share responsible, ethical and inclusive 
best practice, and encourage the emergence of new 
values. SG is a founding member of the Charter. 
Through SG, we also subscribe to the commitments arising 
from the agreements to which SG is a party. 
KATOWICE 
COMMITMENT 
(Paris Agreement 
methodology)
2018
At the 2018 United Nations Convention on Climate 
Change, COP24, five banks, also known as the Ka-
towice Banks (BBVA, BNP Paribas, ING, Société 
Générale, and Standard Chartered) made the Ka-
towice commitment, pledging to develop an open 
source methodology to ensure their activities were 
in line with the goals of the Paris Agreement. 
The principles of the alignment of SG's loan portfolio with 
the goal to limit global warming to less than 2 degrees  
Celsius are included in the standards of the SG Group's E&S 
sectoral policies and are fully applicable to KB. 
SUSTAINABLE SOU-
RCING CHARTER
2018
A joint initiative by French companies in the Bank & 
Insurance sector that want to involve their suppliers 
in the implementation of due diligence measures as 
part of their Corporate Social Responsibility (CSR) 
effort. 
Through SG, we also subscribe to the commitments arising 
from the agreements to which SG is a party. 
COP 21 (United 
Nations Climate 
Change Conference 
– Paris Agreement)
2015
It was the 21st Conference of the Parties (COP) to 
the 1992 United Nations Framework Convention on 
Climate Change (UNFCCC). The conference achieved 
consensus on the Paris Agreement, a global agree-
ment on the mitigation of climate change. SG has 
adopted its own climate commitments to meet the 
goals of the Paris Agreement on the basis of the COP. 
The principles of limiting global warming are integrated in 
SG's E&S sectoral policies and fully apply to KB. 
E&S SECTORAL 
POLICIES
2011
Sector-specific E&S standards for 12 sensitive 
sectors (energy, defence, mining, nuclear, oil & gas, 
forestry, etc.) with excluding criteria, minimum E&S 
standards of clients, and requirements for E&S asse-
ssment. 
All E&S sectoral policies apply to KB lending (primarily to 
corporate clients) from the moment of their publishing. 
The policies are publicly accessible. 
EQUATOR PRINCI-
PLES (EP)
2007
Set of voluntary environmental and social (E&S) 
standards that the participating banks voluntarily 
agreed to follow in project financing of larger infra-
structure and industrial projects. 
KB has applied them since 2020 with the implementation 
of the ESRM process. The E&S criteria are included in the 
KB ESRM instructions.

60
KB Sustainability Report 2021

61
SUSTAINABLE 
FINANCING 
5

Banks hold an irreplaceable position in the promotion of 
sustainable development. We believe that our financing 
of meaningful projects will help to protect the environ-
ment and sustainable business. 
Sustainable retail banking 
We offer our retail clients options for how they themselves, 
on an individual basis, can help to minimise environmen-
tal impacts and we want to show them the cases in which 
KB can be the right partner for them on the path to a sus-
tainable future. It is important for us that clients do not only 
see the lower environmental burden, but also the financial 
returns and savings and that they are aware of a potential 
option to use subsidies channelled into this area. 
In 2021, we considerable broadened our range of 
products and services for retail clients. Clients can thus re-
sponsibly invest in funds meeting ESG criteria, can receive 
privileged funding for sustainable technology, which then 
generates energy cost savings, can own payments cards 
from recycled materials, or, for example, buy electric vehi-
cles using advantageous ESSOX financing. To help our cli-
ents to find their way around in our products and services, 
we have posted inspiration for a more sustainable life on 
our website. 
Responsible investing 
Clients can contribute to a sustainable future through re-
sponsible investing. This is investing that integrates the ESG 
rules and does not focus on the growth of finances only, but 
also on the environmental and social impacts of specific 
companies. Responsible investing therefore supports the 
companies that are careful about the environmental, so-
cial, and economic impacts of their activities. Clients have a 
range of ESG fund to pick from, and can invest in, say, water 
resources, nutrition for future generations, or climate pro-
tection. More on ESG funds here. 
In 2021, KB’s retail clients invested almost CZK 2.5 
billion in sustainable funds included in the autumn offering 
of zero entry fees, thereby accounting for more than 16% of 
the total volume of the sales of retail funds. We continue to 
broaden the range of ESG sustainable funds. 
Loans for sustainable technology 
Working with our proven partners, we have prepared turn-
key projects for clients who are planning to install new 
equipment in their house with a view to achieving more 
economical housing and greater self-sufficiency. Our part-
ners ensure turnkey delivery, from the design to installa-
tion, including subsidy arrangements, and we at KB provide 
privileged financing for these projects. Households can use 
advantageous funding of sustainable equipment, such as 
photovoltaic panel systems, heat pumps, heat regeneration 
units, grey water recycling units, rainwater collection units, 
reed bed treatment plants, wetland roofs, or green house 
fronts. This helps our clients to reduce their dependence 
on water and energy supply from grids and also to cut their 
energy costs significantly. For KB clients who want to have 
their own photovoltaic panel system we have arranged for 
reduced prices with ČEZ and innogy, companies that also 
guarantee subsidy arrangement to the clients. For sustaina-
ble water and wastewater management, KB clients receive 
privileged conditions from ASIO and Filipendula, a company 
behind the project for reed bed treatment plants. 
In March 2021, we started to offer these privileged 
loans for sustainable equipment. A total of 147 clients used 
them, borrowing more than CZK 35.5 million. The loans av-
eraged at approximately CZK 240,000. 
Recycled plastic cards 
In 2020, we launched a new payment card for the manufac-
ture of which 85% of recycled materials were used. In 2021, 
we offered this greener variant of payment cards with stu-
dent accounts, because students are interested in the more 
environmentally friendly alternatives, and in 2022 we will 
extend this offering to include other personal and business 
accounts. The recycled plastic card is attractive by its com-
position and also by its atypical vertical design and person-
alisation on the rear side. The central theme of the new pay-
ment cards is the well-known symbol of recycling, placed 
on a base inspired by the beauty and elegance of nature. 
Combining recycling and nature is in line with our seeking 
environmentally conscious sustainable development. 
In 2021, we issued 20,100 recycled plastic cards and 
plan a considerable increase for 2022. 
 
Clean mobility 
Emissions of risky substances from transport contribute to 
the unfavourable emission situation chiefly in cities, where 
the emission limits on harmful substances are often being 
exceeded. The primary objective of clean mobility is to re-
duce harmful emissions from transport. Our ESSOX subsid-
iary has prepared an exclusive quotation of selected elec-
tric vehicles from leading manufacturers for KB clients. The 
range includes luxury cars with some greener aspects, but 
also utility vehicles for business owners who want to con-
serve nature and also run an effective business. 
Digitalisation 
In our everyday banking, we seek to digitalise our services 
as much as possible. We want to save clients’ time and mon-
ey, and also protect the environment that we care about so 
much. This is why we gradually increase the fees and charg-
es for selected services that are unfriendly to nature, to mo-
tivate clients to more frequent use of more advantageous 
services with a higher added value and a lower CO2  foot-
print. For example, at KB they can use KB Bank Identity for 
easier communication with authorities and companies.
Sustainable banking services for enterprises 
In 2019, Société Générale became a signatory to the Princi-
ples for Responsible Banking, thus committing on behalf of 
the entire SG Group to integrate the sustainable financing 
62

63
KB Sustainability Report 2021
principles into all its activities, and adopted its own goals 
in support of the Paris Agreement on climate change. At the 
same time, it pledged to increase the investment intended 
for energy transition to renewable sources to EUR 120 bil-
lion in 2019-2023. In this context and in order to build sus-
tainable business for the long term and enhance our good 
repute, we at KB have incorporated the principles arising 
therefrom into our activities as well. 
Our strategic ambition is to be the leader in sustaina-
ble investment in the Czech financial market and within the 
SG Group. We want to be perceived in the Czech Republic as 
a sustainable bank. Under this strategy, we have specified 
the key areas that will be our priority: 
	
Industry decarbonisation (coal sector 
	
transformation; energy savings in companies and 
	
in the public sector; energy transition; clean 
	
mobility); 
	
Circular economy; 
	
Water savings in industry and water retention in 
	
landscape; 
	
Projects with positive social impacts 
	
(modernisation of health care facilities, health 
	
care, welfare, or employment). 
Seeking to promote businesses’ and the public sec-
tor’ interest in sustainable financing, we have expanded the 
package of our services that support clients’ sustainable 
investment. We provide a broad range of advisory services, 
and not only comprehensive financial advice but also ad-
vice on subsidies, energy, renewables, and on the design of 
a strategy for the client’s sustainability overall. 
Subsidy advice 
Our KB EU Point team provides full advisory services that in-
clude comprehensive advice on grants and subsidies. These 
services include the preparation of subsidy applications; 
administration and sustainability; the option to grant sub-
sidy pre-financing and project co-financing using privileged 
programmes; advice on the economic and technical specif-
icities of projects; and preparation and implementation of 
tendering procedures for public and private entities (includ-
ing sustainable and circular public procurement). 
We have been developing our services since 2003 
when we were the first bank in the market to launch a spe-
cial loan for subsidised project financing. More information 
is available at https://www.kb.cz/en/corporations-and-in-
stitutions/kb-eu-point. 
KB Advisory 
We at KB have set up a special consulting team, KB Advisory, 
to provide advice on grants and subsidies, energy, renewa-
ble sources, circular economy, and waste management. KB 
Advisory is part of the KB Group and offers all-round advice 
to the private and public sectors. 
KB Advisory specialists provide ESG advice, help in the 
implementation of elements of sustainable and socially re-
sponsible business, and provide services helping to improve 
the client company’s financial and environmental profile. 
They offer all-round advice to the private and public sectors 
concerning investment and non-investment plans through-
out the country. They can help clients with the measurement 
of their carbon footprint, energy management, energy audits, 
energy performance certificates (including EPC), and also in 
water and waste management and tendering procedures, 
and they can provide advice on subsidies. 
For more information please visit https://www.kb.cz/
en/corporations-and-institutions/kb-advisory
Support services for enterprises 
in respect of sustainability 
The Together Sustainably website
With a view to supporting the sustainable growth of clients 
and Czech industry, in March 2021 we launched a new web-
site, Together Sustainably (spolecne-udrzitelne.cz). On the 
website, we post information about the environment, circu-
lar economy, and economic and social issues. The posts and 
practical examples offer inspiration about ESG issues main-
ly to companies. Once per two weeks, a newsletter offering 
a digest of the most interesting latest developments is dis-
tributed. We create the website content with CIRA Advisory 
experts. The website content continues to be developed in 
2022. 
Technical educational events 
We at KB held for clients and other participants, several 
events focused on sustainable development issues in 2021. 
In April, we held Conference – Sustainable Investment on 
Waste as a Resource; Energy Savings in Companies; Sus-
tainable Water Management; and Clean Mobility. During the 
year we started a series of webinars that can also be viewed 
from recordings at https://www.kb-webinar.cz. The webi-
nars covered various views of sustainability: Subsidies as 
support for sustainable development; EU taxonomy for sus-
tainability; How to measure carbon footprint in a company. 
We will continue the series of the webinars. 
In 2021, we issued 20,100 
recycled plastic cards 
and plan a considerable 
increase for 2022. 
SUSTAINABLE FINANCE

64
	
Energy efficient buildings
	
Low emission mobility
	
Wastewater management
	
Renewable energy
	
Water management
	
Circular waste management
	
Sustainable forestry 
	
Production, renewable energy equipment
	
Photovoltaics
 10
 1
 5
 49
 1
 29
 3
 1
ENVIRONMENTAL AGREEMENTS BROKEN
DOWN BY CATEGORY (%)
 1
SOCIAL AGREEMENTS BROKEN 
DOWN BY CATEGORY (%)
	
Public education
	
Employment support for the developement of SMEs
	
Social housing
	
Public healthcare
	
Retirement homes
 87
 3
 7
 2
 1
AGREEMENTS ON ESG INVESTMENT LOANS IN 2021
BREAKDOWN OF ESG LOANS BY PURPOSE, IN %
 22
 78
Environmental
Social

65
KB Sustainability Report 2021
Sustainable e-shop 
KB, Visa, Heureka, and the Association of Social Responsi-
bility designed a project called Sustainable E-shop. Its pur-
pose is to identify and designate e-shops that seek sustaina-
ble operation and think about the impacts of their business. 
Customers for whom the sustainability criterion is impor-
tant can make buying decisions more easily thanks to this. 
The project is also intended to support and motivate mer-
chants in their transition to a sustainable business model. 
Sustainable financing of enterprises  
Methodology for monitoring and measuring 
transaction sustainability  
To pursue our KB Strategy for Sustainable Financing, we 
have drawn up a  methodology and tools to identify and 
screen transactions meeting the bank’s criteria for environ-
mentally and socially favourable financing. The criteria are 
based on the EU Taxonomy (Regulation (EU) 2019/2088 of 
the European Parliament and of the Council of 27 November 
2019 on sustainability–related disclosures in the financial 
services sector) and the SG Guideline for Green Loans and 
Sustainability-linked Loans of 2020. 
Determining whether a transaction meets the criteria 
for E&S positive financing allows us to make an informed de-
cision on its eligibility in terms of supporting the client by way 
of a lower interest rate, to map out our loan portfolio in terms 
of meeting our strategic sustainability objectives, and also to 
provide the data for our bank’s and the SG Group’s reports. 
Investment loans with a positive 
environmental or social impact 
In 2021, we registered increased financing of projects close-
ly related to the fight against climate change and projects 
having a clearly specified environmental or social benefit. In 
2021, we signed agreements on ESG investment loans total-
ling CZK 21.9 billion. More than three quarters (78%) of these 
ESG positive loan agreements are beneficial in environmen-
tal terms and almost one quarter (22%) of them are benefi-
cial in social terms. The clients’ projects most often centre on 
energy efficient buildings, low-emission mobility, wastewater 
management, and renewable energy production. In the so-
cial area, projects in education and healthcare predominate. 
The clients’ projects most often focus on the con-
struction of energy efficient buildings and measures for 
energy savings in buildings, such as thermal insulation of 
buildings, heating system replacement, including the instal-
lation of heat pumps, and similar measures (49%), waste-
water draining systems and treatment plants (10%), and 
renewable energy sources (8%). In the social area, most 
of the projects concerned infrastructure for academic and 
vocational training (87%, construction, refurbishment, and 
equipment of schools), infrastructure for the public health 
system (7%, construction or refurbishment of hospitals and 
healthcare facilities) and infrastructure for welfare services 
(5%, homes for seniors, social housing). 
In 2021, the following were major funded projects 
with positive environmental and social benefits: 
	
The construction and reinforcement 
	
of a wastewater treatment plant for the town 
	
of Brandýs nad Labem - Stará Boleslav, where the 
	
loan was used for reinforcing the capacity of the 
	
existing treatment plant, which had been awaited 
	
for a long time because of the growing population 
	
in this locality. 
	
The installation of a line for pyrolysis of plastics 
	
of Green Umbrella s.r.o., where the loan helped 
	
to build a depolymerisation unit for processing 
	
waste such as scrapped tyres. The 
	
depolymerisation produces mainly a liquid 
	
fraction, which serves as feedstock in, for example, 
	
the petrochemical industry. The solid fraction 
	
has the form of pure carbon that can be used for 
	
a broad range of applications in industry, 
	
and metallic waste, which can be reused. 
	
A new line for metal waste processing of 
	
METALLPLAST-RECYKLING, SPOL. S R.O., where 
	
the loan helped to buy a press line for metal waste. 
	
The company will thus be able to process metal 
	
scrap and return it as feedstock for manufacturing 
	
processes, and also to achieve energy savings 
	
in waste processing. 
	
The refurbishment of a health centre, including 
	
PV panel installation, in Nový Malín (the Olomouc 
	
Region). 
	
The acquisition of farmland for organic farming 
	
of Liponova a.s. 
	
The building of a school for the Blue Hill 
	
association of municipalities (the Central 
	
Bohemian Region). 
	
A credit facility for Hyundai Motor Manufacturing 
	
Czech s.r.o. to launch the production of electric 
	
cars and co-finance further investments related 
	
to new fully electric/hybrid models in order 
	
to contribute to less CO2  production. 
Green Asset Ratio (GAR) 
On the basis of agreement with the parent company Société 
Générale and pursuant to the exemption allowed by Article 
19a of Directive 2014/95/EU of the European Parliament and 
of the Council, amending Directive 2013/34/EU of the Euro-
pean Parliament and of the Council, for 2021 we will estimate 
the proportion of our financing portfolio derived from prod-
ucts or services associated with economic activities that un-
der Regulation (EU) 2020/852 of the European Parliament and 
of the Council qualify as environmentally sustainable (Green 
Asset Ratio, GAR), and report it in the consolidated report for 
the whole group of the parent company Société Générale 
(SG Annual Financial report 2021, p. 296, 334-335). In spite of 
that, in 2022 we will reinforce our abilities to collect, verify, 
and process data for future GAR reporting for the KB Group. 
Photovoltaic for one Koruna
The KB Group’s  SGEF, working with ČEZ ESCO, launched

66

67
KB Sustainability Report 2021
a new product that offers business clients an option to install 
PV panel systems without the need for initial capital. ČEZ 
ESCO installs the PV panel system, but the client pays only 
for the electricity it takes. Besides, the clients do not have to 
worry about the complicated subsidy administration as ČEZ 
ESCO delivers the project on a turnkey basis, including the 
subsequent operation and servicing. PV electricity is cheaper 
than grid electricity. In 15 years, the PV system becomes the 
client’s property for CZK 1. The lifespan of the PV systems is 
longer than 30 years and a power plant with a capacity of 
100 kWp saves 47 t CO2 per year. The product is suitable for 
properties having a demand of 200 MWh/year or more.
Electric mobility offer 
The KB Group, which also includes ALD Automotive, ESSOX, 
and SGEF, also offers a comprehensive range of electric mo-
bility products. Depending on their preferences clients can 
buy electric vehicles on credit or lease them, and the range 
also includes a solution for the charging infrastructure for 
home or business charging, charge cards, advice on electric 
mobility, and advice on subsidies from KB EU Point. The 
bank also offers privileged investment loans for electric ve-
hicle manufacture. 
Plans for 2022 on sustainable financing of enterprises 
We at KB are planning to broaden our offering of sustainable 
financing in 2022. In addition to ESG investment loans, cor-
porate clients will be able to obtain loans linked to sustaina-
bility targets (Sustainability Linked Loan), green, social, and 
sustainable bonds (Green, Social, Sustainable Bonds) and 
bonds linked to sustainability targets (Sustainability Linked 
Bonds). From 2022, the screening of the E&S aspects will 
also include assessing corporate clients’ approach to the 
ESG strategy, GHG emission reduction, energy savings, and 
circular economy. At the same time, the bank will seek to 
financially motivate and support clients in their active ap-
proach to these issues. 
Methodology for client and transaction 
sustainability assessment 
In 2021, we prepared our methodology for client assess-
ment in terms of meeting the sustainability goals during 
the provision of E&S positive financing. The assessment will 
help us to decide on privileged financing to clients who de-
cide to knowingly improve their impact on the environment 
and society against pre-agreed criteria.
ESG classification of investment loans 
Beginning in April 2021, we also assess and classify our 
investment loans in terms of their ESG benefits (i.e., their 
benefit for climate change mitigation and adaptation, as 
well as the environmental objectives for which the rules 
will be published only in 2022, and also for the sustainable 
use and protection of water and marine resources, for the 
transition to a circular economy, for pollution prevention 
and control, and for the protection and restoration of bio-
diversity and ecosystems). This ESG classification is based 
on the EU Taxonomy rules and the categorisation used at 
Société Générale. The aim is to completely align KB’s ESG 
criteria with the EU Taxonomy by early 2023. We respond to 
the changing criteria for ESG positive financing by changing 
our internal processes and the related internal training. 
Satisfaction of the ESG criteria allows us to underpin 
the loans by a lower interest rate subsidised from our own 
resources, specifically our internal ESG subsidy envelope. 
System for assessing environmental 
and social risks in corporate banking 
We have joined the fulfilment of the SG Group’s ESG com-
mitments regarding control of the environmental and 
social risks of the clients’ activities that we finance and 
of our clients’ projects. In early 2020, we put in place in 
corporate banking an ESRM, Environmental and Social 
Risk Management, system. The system also reflects the 
requirements of the Equator Principle, i.e. voluntary 
rules for E&S (Environmental and Social) assessment of 
major industrial and infrastructure projects, and ensures 
compliance with the requirements of the SG Group’s sec-
toral policies. 
Assessing the ESG aspects in our corporate banking 
has become part of due diligence for all new transactions 
and part of scrutinising new clients in the KYC process. As-
sessing E&S aspects includes a check against a list of ex-
cluded entities and against a list of sensitive activities and 
projects, and a check against the excluding criteria of the 
E&S sectoral policies (such as refusal to finance clients and 
transactions connected with coal mining and coal-fired 
energy installations or certain arms exports) and checking 
the clients’ reputational risks related to E&S aspects. A KB 
E&S  risk expert assesses clients and their transactions in 
sectors with an increased E&S risk. Through our relation-
ship managers, we communicate our E&S  standards to 
clients, in particular in sensitive sectors, and seek to sup-
port our clients in complying with these rules. The largest 
area covers the context of energy transition and our climate 
commitments. ESG risk categorisation is conducted for all 
clients in corporate, municipal, and global banking. A KB 
E&S  risk expert carries out a  detailed ESG due diligence 
process for clients having an annual turnover of more than 
a certain limit and operating in sensitive sectors, and have 
been categorised as clients with an increased E&S risk. The 
ESG due diligence results that indicate a high risk of the cli-
ent or require remedial actions of the client are validated 
by Compliance, or are escalated to SG’s head office. Where 
ESG risks may also be credit risks, KB Risk is also involved in 
the validation of the due diligence. In 2021, 24% of actively 
financed clients in the Global Banking segment were sub-
jected to a detailed ESG risk assessment process. In 2021, 
we provided funding to two projects that were subject to as-
sessment under the Equator Principles. Both projects were 
category C project of logistic centres. 
In 2020, we started to assess the Climate Vulnerabili-
ty Indicator (CVI) of our major corporate clients who operate 
in sectors potentially generating climate risks (such as ener-

gy, transport, metallurgy, mineral extraction, and oil & gas).  
CVI expresses an assessment of the transition climate 
risk’s impact on corporate clients’ creditworthiness. Part of 
reducing the impact of transition climate risks on the corpo-
rate loan portfolio is progressively reducing our credit expo-
sure to clients linked to coal-fired energy installations and 
coal mining, and extending help to these clients in funding 
their transition to non-coal economic activities. 
SG Group’s sectoral rules 
In respect of environmental and social responsibility, we 
primarily follow the SG Group’s sector-specific rules on the 
provision of financial products in areas that may have a fun-
damental impact on the environment and society. These 
sector-specific rules are set out in the SG Group’s publicised 
E&S sectoral policies covering: 
	
thermal coal mining and use 
	
thermal power 
	
defence and security industry 
	
nuclear energy and nuclear installations 
	
dams and hydropower 
	
industrial agriculture, food and forestry 
	
oil & gas and petrochemicals 
	
mineral mining 
	
palm oil processing 
	
water shipping 
We respect the restrictions on the provision of bank-
ing services and products for trading in certain types of 
weapons, ammunition, and military material. We do not fi-
nance exports of weapons and military material to countries 
involved in armed conflicts and to countries with undemo-
cratic and authoritarian governments. These restrictions 
also apply to the various private or governmental entities or 
business groups whose activities are regarded as non-trans-
parent in the defence industry. 
In 2021, the mining, oil & gas, agriculture & food, and 
biodiversity protection policies were amended. 
The SG Group’s sectoral policies are freely available 
on our websites and SG’s website.
Improving staff competency to implement 
the environmental and social policies 
During the implementation of the ESRM system, in 2020 
all relationship managers and credit analysts of Corporate 
and Investment Banking and the staff of Compliance, and 
colleagues at the KB subsidiary in Slovakia were trained ac-
cordingly. Such training will be repeated at least once every 
two years. In addition, in 2021 the Corporate and Municipal 
Banking and Global Banking staff were obliged to com-
plete an online course on Environmental and Social Risk 
Management prepared by the parent group and a series of 
technical training courses was organised for all employees 
in KB’s corporate banking to raise their awareness of the 
programmes and objectives of KB’s  environmentally and 
socially beneficial financing. Since it is important for us that 
our employees are acquainted with the SG Group’s and KB 
Group’s sustainability strategy, in 2021 all employees of the 
bank were required to complete a course on sustainability 
and KB’s approach. 
Digitalisation and innovation 
In everyday banking, we want to digitalise our services as 
much as possible. Thanks to the digitalisation process, it is 
easy for clients to arrange for a product without having to 
call on a KB branch. We regard this as a great added value 
primarily for disabled clients and those living in fairly re-
mote areas. 
In 2021, we continued in the digitalised exchange of 
documents between the bank and its clients. Using not only 
our methods but also qualified electronic signature, almost 
44,000 electronic documents were exchanged in Corporate 
Banking. In January, we broadened the range of options for 
clients to receive KB’s ‘bank report for audit purposes’, hav-
ing improved the electronic Request for a Bank Report and 
made it available also in electronic banking, including the 
bank’s electronic signatures. 
In March 2021, the bank started to provide digital au-
thentication services based on bank identity using the KB 
Klíč tool for clients’ access to public administration services. 
In 2021, we continued to increase the number of clients who 
use online tools for communicating with the bank. At the 
end of 2021, as many as 963,000 clients were equipped with 
KB Klíč, which makes possible for them secure access to the 
bank, authorisation of 3DSecure online payments, and even 
their identity verification outside KB. Clients are now using 
KB Klíč for accessing public administration institutions and 
also third parties’ services. 
In the mobile banking application, clients can now 
arrange for additional products, such as consumer loans, 
non-life policies, savings accounts, authorised overdrafts, 
and wallet insurance cover. The share of consumer loan 
sales executed fully via digital channels rose to 29% in 2021 
from 11% in 2019. 
Branches will remain important contact points for 
clients, but since financial service provision is increasingly 
shifting to digital channels, we have accelerated the earlier 
planned reduction of our branch network during the pan-
demic. 
We are also building a new digital bank based on a new 
technology and process infrastructure, which will offer new 
services and new partners and will be underpinned by smart 
innovations. The development of the new digital bank, with 
the core based on a Temenos Transact system, has reached 
the first stage when 500 clients from the ranks of our employ-
ees are testing the new bank with the basic functionalities. 
We are building the new digital bank so that we can start to 
offer its services to clients in the market in 2023. 
The launch of a single platform for electronic identi-
ty, BankID (Bank Identity), was a breakthrough innovation 
at KB and the entire banking market. In March 2021, we 
opened the use of BankID for our clients in the Individuals 
segment, who were given the option of logging into the Cit-
izen Portal through KB Klíč, or even to use BankID for send-
68

69
KB Sustainability Report 2021
ing with Fidoo in 2021; among other things, it interlinked 
company cards with the Fidoo application, thereby taking 
another successful step in digitalisation. 
Loans supported by European institutions 
To finance projects with a positive impact on the needs of 
the population, the environment or regional economic de-
velopment, we use programmes of cooperation with many 
European institutions, such as the European Investment 
Bank (EIB) and the European Investment Fund (EIF). 
EuroEnergie and Climate Action 
The programmes help, in cooperation with the EIB, to sup-
port energy saving projects and other projects with climate 
benefits. The objective is to reduce, at least to some extent, 
GHG emissions. The loan comes with a lower interest rate 
for clients’ projects, and lower loan security requirements 
in the case of EuroEnergie. Under this scheme, we have 
provided the more advantageous loans to support approx-
imately 130 projects valued almost CZK 2.5 billion to date. 
EuroPremium 
This EIB scheme provides lowered interest rates on loans 
to small to mid-cap companies, including those that con-
tribute to the employment of young people (i.e., they either 
employ young people up to 30 years, or offer internships to 
them). In 2021, we provided approximately 100 such privi-
leged loans, totalling some CZK 2.8 billion. 
The European Investment Fund has stepped up support 
for businesses impacted by the coronavirus pandemic. Follow-
ing the easing of the eligibility criteria for the COSME, EuroIno-
vace, and Microfinance programmes, we provided privileged 
loans with EIF guarantees to a record number of more than 
5,000 businesses, totalling over CZK 6.5 billion in 2021. 
COSME is a free guarantee extended by the EIF for up to 
CZK 4 million loans to SMEs. Innovative businesses can also use 
the EuroInovace privileged loan to finance their operations. 
Microfinance
The Microfinance guarantee prefers businesses with a tran-
scending social impact. Business owners with less than ten 
employees, who entered the market after leaving a  part-
time job or being unemployed, or had a low-income job (up 
to 80% of the average in the Czech Republic), receive priv-
ileged terms. Persons disadvantaged in the labour market 
(such as those who are reintegrating into the labour market 
after parental leave, are disabled, come from another coun-
try or belong to a national minority) are also eligible. Start-
ing business owners under 30 or over 60 can also qualify. 
EuroMuni
The EuroMuni programme offers lower interest rates on 
loans to support municipalities in their development pro-
jects. The privileged rates are available thanks to our coop-
eration with the EIB and the CEB. The scheme helps to cut 
the costs of funding municipalities’ development projects. 
In 2021, we granted 20 loans totalling approximately one 
billion Czech crowns. 
ing tax returns or in the national census. In late September 
2021, we also launched the BankID services for our business 
clients. Now, the option to use commercial entities’ services 
through BankID is being opened. 
KB SmartSolutions and promoting start-ups 
In 2019, KB set up KB SmartSolutions with a view to facil-
itating the development of certain new services of the KB 
Group. This company provides support in the financing and 
development of external start-ups, and also support for in-
house innovative solutions. Through KB SmartSolutions, 
we have brought a sort of a disruption into banking. 
In July 2020, KB SmartSolutions started to work with 
the Czech fintech start-up upvest, which operates an online 
crowd-funding platform for real estate. During 2021, twelve 
new capital projects totalling more than CZK 400 million 
were added. We also launched a pilot sales scheme where-
by we started to offer our clients an option of individual in-
vesting under privileged terms. It is also thanks to this that 
the relevant open projects raised funds in a  record short 
time. 
Our financial stake in ROGER gives our clients (since 
2020) the possibility to use digital factoring and supply 
chain financing, which we have launched in cooperation 
with Factoring KB. During 2021, the Roger financial plat-
form focused on starting cooperation primarily with the 
e-commerce sector, which for most people was the only 
channel for buying products during the coronavirus crisis. It 
upgraded its existing partnership with Alza, with MALL.CZ, 
Datart.cz, and Pilulka.cz acceding to the scheme. In the first 
half of 2021, Roger launched a new service, Roger Ověření 
(Roger Screening), which finds companies’ financial health 
from its own and publicly available data. The advantage is 
that the service is publicly available and free of charge, and 
can be very easily implemented through API, which signifi-
cantly simplifies accelerates the whole screening process. 
Lemonero is KB’s latest equity stake so far. Lemone-
ro was set up in late 2019 and works as a sort of a digital 
bank in the market, lending money without any paperwork, 
including to e-shops established just a few months ago. In 
2021, this start-up forged partnerships with major e-com-
merce players, such as Shoptet, Golemos (eshop-rychle.
cz), and EVici webdesign (UPgates.cz). In April, Lemonero 
started to work with Alza and Mall Group, providing client 
funding in their marketplaces. 
The year 2021 was also successful for KB SmartSolu-
tions from the perspective of in-house start-ups, which con-
stitute one of the domains of its interest. Here, it employs 
its own resources to build and test in-house start-ups that 
fit well within our KB business model, and tests their mar-
ket viability. Finbricks is one of such projects. When it first 
started, its payment gateway was called Zaplaceno.cz, and 
we at KB decided to test our interface, which we had newly 
deployed, and test the working of the PSD2 infrastructure. 
At present, Finbricks exists as a self-standing company pro-
viding services to additional clients. 
Thanks to KB SmartSolutions, KB also started work-

70
KB Sustainability Report 2021

71
SPONSORSHIP, VOLUNTEERING, 
AND JISTOTA FOUNDATION
6

KB is Czech ice hockey’s bank 
In 2021, we became a Main Partner of the ice hockey extra 
league and the national ice hockey team. Teamwork and fair 
play are the fundamental values in ice hockey matches, and for 
us these are also the key values in the world of banking. 
Our cooperation with Czech ice hockey also includes 
support for the University Ice Hockey League intended for 
young athletes who want to combine sport and education; 
partnership with the under 18 Czech ice hockey representation 
(U18) and with the under 20 Czech ice hockey representation 
(U20), the Ice Hockey Player of the Season and the Golden Hel-
met polls, and the Czech Ice Hockey Hall of Fame and the Ivan 
Hlinka Memorial. 
On the occasion of our partnership with Czech ice hock-
ey we offer payment cards designed around the theme of the 
representation team to our clients
The National Gallery Prague, KB is the General Partner 
In 2019, together with the National Gallery Prague we called an 
open competition, Empathy Awards, for two works with a social 
or environmental dimension. An independent jury selected two 
winners, Ms Romana Drdová and Ms Lenka Záhorková. Their ar-
tistic approaches transcend the limits of visual arts and they 
creatively bring opportunities for mutuality and coexistence 
in the environment and society. Lenka Záhorková opens an in-
ter-generational dialogue, highlights the problems associated 
with old age, and offers reflection on the values and experience 
of old age. Romana Drdová deals with environmental issues 
and consumerism. Her clothes follow a conscientious approach 
and direct our thinking towards sustainability. We completed 
this joint project in 2021 by a display in the Small Hall of the 
Veletržní Palace in Prague, where an exhibition of the Empathy 
Awards winning projects was opened on 11 November. The dis-
play of the fabricated designs could be visited until 13 February 
2022. This project also included workshops for families with 
children, who had an opportunity to create their own works to-
gether with the two winners. We offer a discount for tickets to 
NGP exhibition to our clients and employees.
 
PKF – Prague Philharmonia, KB is the General Partner 
For the fourth successive year, we continued to support PKF 
– Prague Philharmonia, currently one of the most acclaimed 
orchestras in the country and in the world, founded by late 
conductor Maestro Jiří Bělohlávek in 1994. Together with PKF 
– Prague Philharmonia we joined the Music Fete international 
event, which is held every year on 21 June. With the orchestra, 
we prepared a few concerts and the performances took place 
in front of the KB building in Prague-Stodůlky. Classical music 
lovers can still order payment cards with motifs of musical in-
struments and PKF – Prague Philharmonia members. Most re-
cently, all KB card holders can buy tickets for the orchestra’s 
concerts at a discount. 
Partnership with the French Film Festival in 2021 
Between 18 and 24 November 2021, the 24th edition of the 
French Film Festival took place. We have been a partner of this 
festival for many years. In Prague, French films were screened 
in the French Institute’s Kino 35, and in Lucerna, Světozor, and 
Edison Filmhub. The festival was also running in some other cit-
ies, Brno, České Budějovice, Hradec Králové and Ostrava, at the 
same time. In the main programme, the festival presented ten 
previews, including a musical biopic inspired by the lifetime of 
Céline Dion, Aline. The Crossing, a French-Czech animated fea-
ture film directed by Florence Miailhe, was also acclaimed. The 
Prague section of the festival culminated in a tribute to a leg-
end of the French film industry, Jean-Paul Belmondo. 
72
We became a Main Partner of the ice 
hockey extra league and the national ice 
hockey team. Teamwork and fair play 
are the fundamental values in ice hockey 
matches, and for us these are also the 
key values in the world of banking. 
PARTNERSHIP

73
KB Sustainability Report 2021
Partnership with the Prague Zoo 
Our long-term partnership with the Prague zoological garden is 
one of the most successful ones. In 2021, we supported a pro-
ject for education in the protection of biodiversity and endan-
gered animal species. 
Partnership with support for projects at the Ostrava Zoo 
We carry on our partnership with the Ostrava Zoological Gar-
den and Botanic Park, which can easily be ranked among the 
most modern European zoological gardens. In 2007, the Ostra-
va Zoo opened a botanic park with three paths having a total 
length of about 6 km and an extensive area with greenhouses; 
in 2015, it added a Rhododendron Park featuring the largest 
collection of rhododendrons and azaleas in the Czech Repub-
lic. In 2018, they first displayed a collection of bonsais and or-
namental trees in an exhibition called Far East Horticulture. We 
sponsored this exhibition together with the Jistota Foundation 
in 2021, thereby helping to extend the area to include addition-
al grown trees. 
The other project co-sponsored with the Jistota Foun-
dation was the repair of the aviaries for the endangered white-
tailed sea eagle (Haliaeetus albicilla). It is the largest eagle in 
Europe. In the Czech Republic, it was pursued and finally extir-
pated in the past. Thanks to stocking birds, bred by people, and 
to strict conservation measures, this eagle occurs and nests in 
the country again. In spite of that, these birds continue to face 
threats from people, mainly poisoned bait, disturbance during 
nesting, and poaching. Every successfully raised eaglet is there-
fore highly valuable. At the Ostrava Zoo, these sea eagles are 
bred on a regular basis. The raised eaglets are then included 
in the captivity-bred flock of this protected and critically en-
dangered predator, and in the future may also be released to 
reinforce wildlife populations under repatriation projects in the 
Czech Republic and elsewhere in Europe. 
Rock for People Hope, KB is the General Partner 
For the second time, the pandemic situation prevented the 
organisers from holding this traditional music festival in a 
fully-fledged format; they only held a two-day ‘mini-festival’ 
called Rock for People Hope with a limited capacity in the Fes-
tival Park in Hradec Králové on 13 and 14 August 2021. In ad-
dition to a portion of music on three stages, the visitors could 
enjoy an extensive fringe programme geared towards environ-
mental protection and circular economy. Besides KB – Main 
Stage featuring, for example, the post-hard core Imminence, 
the current winner of the Eurovision Song Contest, i.e. Italian 
rockers Måneskin, and Skynd, an Australian industrial duo, 
KB was also the partner of the first festival stage driven by the 
H2BASE hydrogen generator and called the O CO2 JDE Stage. 
On this unique stage, culture interlaced with the humanities, 
science, and technology. Dance choreographies and stand-up 
comedies supplemented panel discussions and moderated 
conversations. The most prominent guests included personali-
ties such as Ben Cristovao, musician and dancer, Paul Schurink, 
researcher and renewable energy advocate, Martin Bursík, for-
mer Environment Minister, Jindřich Šídlo, a highly acclaimed 
journalist, Jakub Zamouřil from the Faktaoklimatu.cz platform, 
and Jan Freidinger from Greenpeace. 
 
For the fourth consecutive year, 
we continued to support PKF – 
Prague Philharmonia, currently 
one of the most acclaimed orchestras 
in the country and in the world.
PARTNERSHIP

The Jistota Foundation contributes to non-profit organ-
isations’ projects and carries out its own one-year and 
multi-year projects. In 2021, Jistota distributed CZK 
19,652,913. 
The Jistota Foundation helps and promotes activities for the 
benefit of civil society, health and social projects, education, 
and social inclusion. It focuses on the prevention of social 
exclusion of risk-exposed and socially disadvantaged groups 
of children and young people, and helps families in crisis. It 
participates in system changes in palliative care with a view 
to helping people to go through a dignified end-of-life expe-
rience. Jistota also supports activities intended to minimise 
adverse impacts on the environment and society. The main 
donor of the Jistota Foundation is KB, followed by its subsid-
iaries and partner companies. KB Group employees are also 
very important donors. 
In 2021, the Jistota Foundation granted CZK 8,319,473 
and CZK 4,333,440 to social and environmental projects re-
spectively. The amount of CZK 7 million, donated by the KB 
Group through the Jistota Foundation, made it the most gen-
erous donor in ADRA’s humanitarian assistance in southern 
Moravia hit by a destructive tornado in June. 
The Jistota Foundation’s major projects in 2021 
The biggest gift in 2021 was help to the afflicted areas in 
southern Moravia hit by destructive storms and a tornado in 
June. KB Group (KB, Modrá pyramida, Komerční Pojišťovna, 
ESSOX, KB Penzijní společnost, Factoring KB, SGEF, and ALD 
Automotive ČR) donated CZK 7 million to the ADRA humani-
tarian organisation through its Jistota Foundation. 
In 2021, Jistota started a long-term project in support 
of the LOCIKA Centre to help children who have to cope with 
the threat of household violence, granting CZK 688,440 in 
that year. Jistota financed the renovation of three baby box-
es by a total of CZK 600,000. It donated CZK 648,000 to the 
development of the Dobrá rodina (Good Family) interactive 
information portal, which brings surrogate family care clos-
er to current and future foster families and educates them in 
this care. 
Together with the Mobile Hospice Forum, it supported 
the personal development of professionals at mobile hos-
pices. This project will run for 2.5 years and a total of CZK 
1,199,040 will be donated to the project. In 2021, the first 
tranche amounting to CZK 224,344 was paid. 
With the Pallium Institute, in September we embarked 
on long-term cooperation in the systematic development of 
palliative care for children, planned for 2021 to 2023. The pro-
ject will receive a total of CZK 1,200,000; for 2021, CZK 300,000 
was allocated from that amount. 
Jistota also began cooperating with the Institute for 
Circular Economy (INCIEN) in the promotion of circular ele-
ments and their integration into public and private procure-
ment, supporting the project by CZK 400,257. It donated 
CZK 400,000 to Vzdělávání pro budoucnost (Education for 
the Future, a registered society) for the circular furnishings 
of the Céčko educational centre in Humpolec. As part of a 
grant intended for the textile industry, and waste reduction 
and recycling, Jistota provided a total of CZK 758,733 to four 
organisations. One of them was Swap Prague and their suc-
cessful one-week swap in Prague-Holešovice. The signing of 
a joint agreement marked the beginning of a long-term part-
nership with KB Penzijní společnost and Nadace Partnerství 
(the Partnership Foundation). Thus, Jistota has become part 
of Partnership’s Planting the Future initiative and acceded to 
their objective to plant 10 million trees for resilient cities and 
healthy landscapes. In November, KB’s employees and cli-
ents helped them to plant a line of fruit trees near KB’s head 
office in Stodůlky. In 2021, Jistota became a Main Partner of 
the Clean Up Czechia society and their initiative ‘for a prettier 
Czechia’. Jistota donated CZK 1.2 million for the preparatory 
stage of a mobile educational application for visitors to the 
Prague Zoo. It financed the repair of a large aviary for the 
white-tailed sea eagle (Haliaeetus albicilla) and added nine 
grown trees to the Ostrava Zoo’s botanical park. 
The Jistota Foundation’s beneficial 
activities and employee fundraising 
The KB Group employees’ involvement in activities to sup-
port the Jistota Foundation printed a record in 2021 in terms 
of both the amount raised and the size of participation. In 
2021, the employees donated more than CZK 2.2 million to 
Jistota through beneficial events and employee fundrais-
ing. The employees’ solidarity helped to support 11 current 
74
Jistota Foundation 
The Jistota Foundation 
distributed 
CZK 19,652,913. 
2021

75
KB Sustainability Report 2021
and former colleagues hit by the natural disaster in south-
ern Moravia. CZK 750,000 was distributed to 23 single-par-
ent households in dire straits. Not only the organisers of the 
Biking to Work challenge but also the KB Group’s employees 
surpassed the existing record of registered participants in 
2021. More than a double of the participants the year before 
signed up for the challenge. Exactly 273 bikers and runners 
supported Jistota by their green commuting to work under 
the May challenge, and between them biked and ran a record 
65,971 km. The same amount in Czech crowns was delivered 
to Jistota in support of single parents. During the traditional 
Week with the Foundation, held in the second week in Octo-
ber, Breakfast for the Foundation took place across the coun-
try and yielded CZK 218,682, also helping single parents. On 
15 September the tenth beneficial golf tournament was held 
and raised CZK 185,000 in support of the long-term project 
with the Pallium Institute. The Christmas auction of articles 
made by employees themselves was held together with the 
sale of Christmas vouchers and the yield was channelled into 
support for the LOCIKA Centre’s Dětství bez násilí (Childhood 
without Violence) anonymous chat and phone line website. 
Financial contributions (shown in CZK) collected from vol-
unteer events: 
More on the Jistota website at www.nadacejistota.cz 
VOLUNTEERING 
For the third time in 2021, our employees could use an 
extra day off with wage compensation for their volun-
teer day to help in the non-profit sector. In 2021, 394 em-
ployees from many KB arms, departments, and teams 
used their volunteer day. Some chose a partner organi-
sation from the Jistota Foundation’s list, others helped 
the NGO where they are involved, and many employ-
ees used their ‘goodness day’ in the Clean Up Czechia 
event. Clean Up Czechia is a nationwide volunteer initi-
ative that we have supported since 2018. More than 180 
employees joined this initiative ‘for a prettier world’ in 
2021. Almost 30 employees used the day off for helping 
at the largest one-week swap, or the first Swap Prague 
sustainable marketplace in Prague-Holešovice. At the 
Ostrava Zoo, some 40 of our employees could carry 
out their childhood dream of ‘working in the zoo’: they 
cleaned and gardened in the open air areas and enclo-
sures of the zoo in September and October. Employees 
have been giving blood for more than ten years, and not 
only in the KB buildings. As the years before, in 2021 the 
team of the Prague General University Hospital’s mobile 
blood transfusion station was again in charge of the 
blood giving at KB. 
We extend thanks to our employees for their readi-
ness to help as volunteers. We are delighted that we 
can also inspire them to good deeds. We greatly ap-
preciate their gratuitous help! 
Biking to work 
65,971
Single parents 
749,815
Help for colleagues in Moravia 
783,595
KB Sports Day 
13,297
Golf tournament 
185,000
CEO’s birthday gift
196,392
Breakfast for the Foundation 
218,682
Christmas auction 
19,910
Christmas vouchers 
20,500
Total 
2,253,162

76
In the Mastercard Bank of the Year 2021 competition, 
Komerční banka won The Sustainable Bank of the Year and 
The Corporate Bank of the Year categories.
As part of The Bankers to Schools event, every year we 
send out dozens of speakers from the ranks of KB branch 
managers, IT specialist, or most senior management to 
primary and secondary schools.
The expert jury of the SDG Awards, appointed by the 
Association of Social Responsibility, awarded our last 
year’s KB Sustainability Report 2020 for Reporting.
In the recently refurbished Prague-Dejvice branch, the floor 
covering is made of recycled nylon, and below the ceiling 
there are acoustic lamellas of recycled PET bottles.
The Bike to Work challenge was accepted by 273 bikers and 
runners. To support the Jistota Foundation they biked and 
ran a record 65,971 km.
Some 40 of our employees cleaned and gardened in the 
open air areas and enclosures of the zoo in September and 
October as a part of their volunteer day.

77
KB Sustainability Report 2021
In 2020, we offered a new payment card with student 
accounts for the manufacture of which 85% of recycled 
materials were used. This year we will extend this offering 
to include other personal and business accounts.
In 2021, we became a Main Partner of the ice hockey extra 
league and the national ice hockey team. 
For employees, we arranged a corporate sport event where 
we significantly reduced the use of disposable utensils and 
supplied all the participants with reusable cups.
In 2021, we intensified our communication activities to 
highlight ongoing climate change. As part of the O CO2 JDE 
campaign, we wanted to open debate and to activate the 
public. 
During the traditional Week with the Foundation, Break-
fast for the Foundation took place across the country and 
yielded CZK 218,682, helping single parents.
In November, KB’s employees and clients helped to plant a 
line of fruit trees near KB’s head office in Stodůlky.

78
KB Sustainability Report 2021

SUBSIDIARIES 
79
7
While the other companies in the KB Group are under no obligation to publish information 
under Section 32 (f) to (i) of Act No 563/1991 on Accounting, they subscribe to the same 
values as parent KB, take a responsible approach to their business to the extent possible, 
and are active in respect of the environment and society. This chapter covers disclosures on the 
other companies that have a significant share of the KB Group’s assets and results. 
These companies are KB Penzijní společnost, Modrá pyramida stavební spořitelna, 
SGEF, ESSOX, KB Factoring, Komerční pojišťovna, and Komerční banka, pobočka zahraničnej banky. 
A detailed overview of the subsidiaries in the KB Group is part of KB Annual Report 2021 
in the chapter on Komerční banka Group. 
Komerční pojišťovna, a.s., is an affiliated company in which KB holds a 49% stake. 
The data for this company is consolidated 49% by Komerční banka, and 51% 
by Société Générale. 
The subsidiaries’ sustainable business activities are also described in Chapter 5 
on Sustainable Financing.

Responsible conduct is KB Penzijní společnost’s priority 
in relation to pension saving scheme members, to its em-
ployees, to external intermediaries, to its shareholders, and 
to the public. KB PS pursues its long-term objectives in a re-
sponsible manner, taking into consideration its major stake-
holders’ expectations, and maintains compliance with the 
legislation. 
Environmental sustainability 
KB PS was the first pension company in the market to 
launch the option to take out a new contract for supple-
mentary pension savings via a mobile phone in KB’s Mobil-
ní banka app. Contract conclusion via KB’s Mobilní banka 
reduces paper contract printing, and we therefore promote 
this method by a CZK 1,000 bonus for contract conclusion 
via mobile. 
Cooperating with KB’s Jistota Foundation, we dona-
ted CZK 150,000 to the Swap Prague project, thereby also 
supporting an interactive fringe programme at the SWAP 
trade fair at which people could swap or give items they no 
longer wanted. Swap Prague took place in September 2021. 
Social sustainability 
Every year, a number of employees take part in various vo-
lunteer activities, such as the following in 2021: 
	
Blood giving in cooperation with the General 
	
University Hospital in Prague 
	
Biking to Work 
	
Breakfast for the Jistota Foundation, which 
	
employees prepare for their colleagues, donating 
	
the yield to the Foundation 
Support for single parents 
Together with KB’s Jistota Foundation, we also helped to 
support the Single Mothers project. We contributed CZK 
40,000 to ‘little Faníček’, who is almost blind, mentally very 
retarded, and has huge problems walking. He has hydroce-
phalus in four chambers in his little head. 
Contribution to hospice employees 
In 2021, during the covid pandemic, we donated CZK 50,000 
to the employees of the hospice operated by Sdílení, o.p.s. 
in Telč. The funds were intended for spa treatment and re-
laxation of the employees who were looking after covid-af-
flicted seniors. 
Support for southern Moravia 
We sent a gift of CZK 200,000 to the tornado-hit area in 
southern Moravia, thereby joining the whole KB Group that 
sent a total of CZK 7 million to help the afflicted areas. 
Governance 
As the entire KB Group, we are doing our best to prevent 
abuse of our services for money laundering or terrorism fi-
nancing. We at KB PS therefore apply rules, methods, and 
controls in accordance with the relevant laws and regula-
tions, standards, and the SG Group’s requirements. We ve-
rify and update them on an ongoing basis and train and 
examine our employees on a regular basis. We also apply 
corporate rules of conduct and code of conduct principles 
to our employees. The obligations in place include, without 
limitation, rules for protection against conflicts of interest, 
rules for gift acceptance, and rules for protection against in-
fluence peddling and insider trading. 
Sustainable financing, SFDR 
A new regulation, Regulation (EU) 2019/2088 on sustainabi-
lity - related disclosures in the financial services sector, en-
tered into force in March 2021 (SFDR). The purpose of SFDR 
is to disclose how companies approach sustainable finan-
cing. Our approach is aligned with KB’s approach, which is 
described in Governance. 
80
KB Penzijní společnost
During the covid pandemic, we donated 
CZK 50,000 to the employees of the hospice 
operated by Sdílení, o.p.s. in Telč. 
SUPPORT

81
KB Sustainability Report 2021
Modrá pyramida is a modern company with a long tradition, 
which helps its clients to create homes of their dreams. We up-
grade our products to ensure the highest possible client satis-
faction, and we are continuously broadening the range of our 
products and services related to finance, primarily housing. 
Environmental sustainability 
We adopt certain measures to reduce our adverse impacts on 
the environment, focusing on reducing the consumption of 
energy, paper, and other ‘exigencies’ of modern times. 
Social sustainability 
Our long-term objective in respect of employee care is forg-
ing high-quality partnerships with them founded on trust, 
respect, mutual communication, professionalism, respect for 
equal opportunities, and the offer of interesting professional 
and career prospects. Employee care is one of our corporate 
priorities, and we regularly poll the employees for their views 
and satisfaction using the NPS metrics. We apply the non-dis-
criminatory principle when recruiting employees. The deci-
sive aspect for us is that the expectations related to the posi-
tion and job description match each candidate’s knowledge, 
competences, and expectations. 
The covid pandemic has interfered with the life 
of many citizens. Unfortunately, a number of them have 
reached the limit of poverty and are unable to repay. Subject 
to agreement with them, we have deferred, free of charge, 
their instalments on loans by mutually agreed periods. 
Merciful Summer 
KB’s and its ESSOX and Modrá pyramida subsidiaries’ clients 
who had ended up in enforcement proceedings for defaulting 
had an opportunity until the end of January 2022 to request 
the option of repaying only the principal amount to the bank. 
The clients were granted a waiver of all incidentals and costs 
incurred in their non-performance. 
This initiative applies to debts of natural persons 
(private citizens and sole traders), which have been caused 
by their failure to repay lending products (mortgage loans, 
building society loans, consumer loans, business loans, cred-
it cards, and authorised overdrafts) and are now being recov-
ered through enforcement. 
At the same time, we were also ready to help the cli-
ents who would not raise the required funds by the set date 
and we will deal with their cases on an individual basis. Cli-
ents could also use advice on their debt, consolidation, re-
structuring, etc. 
Help in the wake of the natural disaster in Moravia 
Modrá pyramida contributed CZK 270,000 to the southern 
Moravian area hit by the natural disaster. 
Governance 
At Modrá pyramida, the first building society to develop its 
own application, we continue in digitalisation. We have re-
cently opened the opportunity to utilise Rychloúvěr (Fast 
Loan) and Hypoúvěr (Mortgage Loan) for housing via the MP 
Home mobile app. This also helps to reduce paper consump-
tion: in MP Home, clients can submit requests for loan utili-
sation and also upload all the required documents, thereby 
avoiding all physical paperwork. The MP Home app is free 
and available for Android and iOS. More than 85,000 users 
have downloaded the app to date. 
Sustainability goes hand in hand with digitalisation. 
We want to focus on sustainability in the coming years in re-
spect of the product range (‘the green mortgage loan’) and 
the measurement of our own carbon footprint. 
Modrá pyramida stavební spořitelna, a.s.
Modrá pyramida 
contributed CZK 270,000 
to the southern Moravian 
area hit by the natural 
disaster. 
WE HELP

Environmental sustainability 
E-bikes instead of cars
To reduce our carbon footprint, we have reduced the car 
pool by a fifth and rented e-bikes, which are suitable for 
the city and off-road. They are used as an alternative for 
commuting to work, for trips to clients, or for enjoyment in 
our spare time. In this way, we have not only reduced our 
carbon footprint remarkably but also promote alternative 
means of transport and improve the employees’ fitness. 
Paper savings 
The ongoing digitalisation of processes, smart office, and 
systematic paper savings by the employees have led to 
lower paper consumption. Compared with 2020, we printed 
64,244 paper sheets less, which is 10.4% less year-on-year. 
Social sustainability 
Employees 
SGEF strongly cares about the work-life balance of its em-
ployees and we therefore support working from home and 
part-time positions. The share of home office in total work-
ing hours has stabilised between 30% and 40%. 
28% of SGEF employees use part-time work. This 
figure includes those returning from maternity or paren-
tal leave, those tackling their ‘work-life balance’, and tem-
porary workers. SGEF’s willingness to allow part-time jobs 
helps to discover talent and supports a faster return of good 
and loyal employees. 
Charity 
SGEF’s support for the non-profit sector reached a record 
amount of half a million Czech crowns in 2021. The Jistota 
Foundation received CZK 300,000 for the restoration of tor-
nado-hit Southern Moravia and CZK 120,000 for the Ostrava 
Zoo. The company and its employees donated the remain-
ing CZK 80,000 to several different foundations and to Mo-
tol University Hospital thanks to various activities such as 
a charity run, breakfast, or trading at the employees’ mar-
ketplace. 
Economic sustainability 
As a member of an international financial group, SGEF fol-
lows the SG Group’s Codes, i.e., the Group’s Code of Con-
duct and Anti-Corruption Code. We also expect that our 
business partners follow the same rules as summarised in 
our Suppliers Charter. 
Contribution to energy transition 
To support energy transition investments, SGEF has im-
plemented an ambitious Corporate & Social Responsibility 
strategy structured around three pillars: 
	
Electrification & low-emission transport solutions 
	
Photovoltaic 
	
Energy efficiency 
More broadly, SGEF has been supporting low-emission 
transport by funding electric fork-lifts, LNG trucks, e-buses, 
more efficient electric locomotives, and public transport. To 
support customers wanting to sustainably reduce energy 
consumption in their production facilities and to improve 
their own CO2 footprint, SGEF provides, in cooperation with 
KB and ČEZ ESCO, innovative structured funding for PV 
power stations. A new service – light as a service – has been 
developed at SGEF’s central level thanks to a partnership 
with a major international lighting player. The objective 
of this service is to offer custom tailored lease solutions to 
support clients’ energy saving investments, notably in LED 
technology. 
Green financing 
For 2021, SG Equipment Finance Czech Republic targeted 
a 10% share of green financing in the total portfolio. The 
target was finally exceeded, and the share of green financ-
ing accounted for 13.3% of new business, which is CZK 1.98 
billion. After deducting two one-offs, our green everyday 
business amounted to CZK 1.65 billion, equivalent to 11% 
of NBV. The classification is aligned with SG’s methodology 
for SPIF (Sustainable and Positive Impact Finance) transac-
tions. 
New ESG and ESRM programmes 
To continue improving the processes focusing on ESG ele-
ments, several main programmes were initiated in 2021. 
They concentrated on the redesign of the granting and 
monitoring process, with the inclusion of ESG assessment 
tools and utilising the Environmental and Social Risk Man-
agement (ESRM) procedures already being developed by 
both shareholders (SGEF International and KB). 
In addition to supporting its clients in economic sus-
tainability by funding their projects with positive environ-
mental and social impacts, SGEF also pursues its own envi-
ronmental and social sustainability activities. 
82
SGEF

83
KB Sustainability Report 2021
We have been part of the KB Group since our creation, and 
have belonged to the SG Group since 2002. This membership 
is essential for our development and cooperation with oth-
er Group members in and outside the Czech Republic. We 
closely cooperate with our parent KB, and accept from it the 
fundamental principles of corporate social responsibility, in-
cluding values concerning environmental and social sustain-
ability and responsible business. 
Environmental sustainability 
In line with the SG Group’s rules, we are phasing out the pro-
vision of our products and services in areas with a potentially 
adverse impact on environmental and social quality. In 2021, 
we started to implement an environmental and social risk 
assessment process that we will continue to improve. We as-
sess the client’s and the specific transaction’s risk with a view 
to eliminating sectors, activities, and transactions excluded 
from financing in alignment with the SG Group’s approach. 
We primarily monitor entities and transactions in: 
	
energy and coal 
	
armament industry 
	
security equipment 
	
tobacco 
At the same time, in everyday life we constantly focus 
on measures that can contribute to improvements in sustain-
ability. We are reducing paper consumption and promoting 
paperless forms of cooperation with our clients, including the 
development of the functionalities of the DMS application for 
digital storage of factoring documentation. Equally impor-
tantly, it is natural for us to use waste sorting bins located in 
the publicly accessible premises of KB’s head office building. 
Social sustainability 
We regard the social aspect, including the development strat-
egy for the personnel management policy, as an important 
part of sustainability. Our corporate culture emphasises a 
stimulating working environment and attractive opportuni-
ties for employee development. We promote employees’ sys-
tematic training and their work-life balance. 
Client satisfaction 
Our clients’ satisfaction is also one of our permanent values 
and priorities. Following the slump in the Czech economy’s 
performance in 2020, caused by the coronavirus pandemic, 
in 2021 we generated another highest ever turnover of CZK 
63.277 billion. 
Awards 
Thanks to all employees’ joint effort and professional ap-
proach, in 2021 Factoring KB was successful to retain its num-
ber one position in the Czech factoring market, controlling a 
market share of 27%. 
In 2021, Factoring KB was named The Best Domestic 
Factoring Specialist by the UK-based EUR Business News and 
nominated by another UK-based company, CFI.co, in the cat-
egory Best Export Factoring Services – Czech Republic 2021. 
Sponsorship and charity 
We regularly contribute to KB’s Jistota Foundation. In 2021, 
we contributed CZK 75,000 to support an environmental pro-
ject of Charita in Valašské Meziříčí and CZK 60,000 to help for 
the destroyed municipalities in southern Moravia. As in the 
previous years, we supported research into Alzheimer dis-
ease and other neurodegenerative or vascular diseases of the 
brain by CZK 25,000. 
Economic sustainability 
We continue to promote and develop the financing of EPC 
(Energy Performance Contracting) projects. Their principle is a 
guarantee of the expected reduction of energy consumption, 
which translates into lower operating costs used for paying for 
the initial investment. When applying a certain version of the 
EPC method, only the saved costs are the source of funds to re-
pay the costs of the investment. The contracting entity repays 
the receivable financed by our company on the basis of a pay-
ment calendar (medium- to long-term maturity). 
Due to the coronavirus pandemic, in 2021 the imple-
mentation of certain prepared projects was postponed. We 
nevertheless financed two new projects totalling CZK 22.144 
million/10 years and signed a letter of intent on buying a re-
ceivable of CZK 22.234 million/10 years concerning an EPC 
project to be implemented in early 2023. 
KB Factoring
Factoring KB was 
successful in retaining its 
number one position 
in the Czech factoring 
market, controlling 
a market share of 27%. 
APPRECIATION

Unfortunately, 2021 was considerably affected by the covid  
pandemic, the same as 2020. We personally experienced 
the extremely demanding work of the people at the South 
Bohemian Region’s Regional Public Health Office when we 
were helping to trace the contacts of covid patients. We did 
our best to help the people hit by the pandemic financially. 
And although covid continued to fill the front pages of the 
media and was the primary topic, at ESSOX we focused on 
implementing important development projects in digitali-
sation and transformation, and regarding customer experi-
ence improvements, charity, and sustainability. 
Environmental sustainability 
Honey from the ESSOX roof in organic quality 
The ESSOX head office is based in a low-energy building. In 
2018, ESSOX employees placed beehives on the roof to sup-
port the urban ecosystem. In three years, the initial three 
colonies grew to nine in 2021. Although the weather was 
not exactly favourable for beekeepers in 2021, our yield was 
185 kg of high-quality honey. Laboratory tests did not prove 
contamination by any of the 711 most frequent pesticides. 
These excellent results helped the honey from the ESSOX 
roof to be rated an organic product. 
Office furniture donated 
Having introduced flexible work from home, we earmarked 
290 pieces of virtually new furniture that were redundant for 
us. Worth almost CZK 840,000, we donated this furniture to 
the Czech Food Banks Federation (Česká federace potravi-
nových bank, z.s.), which will use it for furnishing its offices 
around the country. 
The digitalisation process has resulted in reduced con-
sumption of paper for printing client contract documents, by 
83% since 2018, which we started to print on recycled paper 
in mid-2021. 
Social sustainability 
Client satisfaction 
We are working hard on the quality of our services and in-
vest in process digitalisation. The objective is to provide 
services that are accessible online, understandable, and 
as user friendly as possible. One of the latest innovations is 
‘EMMA the voice assistant’, who reminds clients of overdue 
payments. This year, EMMA also started to ‘work’ as a voice 
operator and handles standard outbound calls. 
We approach clients who are behind in arrears via 
personified letters notifying them of their overdue pay-
ment. Starting this year, the letters also contain a QR code 
for easy payment. 
Responsible employer 
Promoting the employees’ potential is one of the priorities 
of our employment policy. We have well-tried models of co-
operation for mother and fathers on ML/PL and for retired 
colleagues, whom we help to stay active and work with 
them under an ‘agreement to perform work’ (in Czech DPP) 
or an ‘agreement to complete a job’ (in Czech DPČ). 
The term stability characterises ESSOX as an employ-
er very well. Out of some 380 employees, one half have been 
with us for more than ten years. Women make up more than 
a half, and also hold 60% of the managerial positions. 
Together safely 
Under the Together Safely project, we educate preschool 
and primary school children in an entertaining form. The 
topics focus on safe behaviour in the world of finance (fi-
nancial literacy), and safe behaviour at home, outdoors, 
and in traffic. 
We produced the second part of the Penízek a Bank-
ovka (Little Coin and Banknote) educational video. The car-
toon heroes tell the youngest pre-school children about 
money. In the project’s social media and website we regu-
larly post advice and rules from various areas of safety. Co-
operating with the biggest media company in the country, 
CZECH NEWS CENTRE, we recorded and broadcast a series 
of five podcasts that present the topics of our project in an 
entertaining manner. 
Involved in app development 
Working with the Jistota Foundation, we donated CZK 
100,000 to support the development of the Neboj se, ozvi 
se! (Don’t be afraid, be heard!) app. This modern app helps 
children at risk of violence in the family. The initiative to de-
velop the app came from the non-profit LOCIKA centre. As 
part of Week with the Jistota Foundation, we donated CZK 
20,000 to the Foundation. 
We are aware that small help is also important. In 
2021, we therefore donated CZK 26,000 to support the 
presentation of the Czech ‘envi’ brand Prasklo. The Prasklo 
works of art feature originality and meticulous handiwork, 
and emanate the valuable idea of recycling older and no 
longer used glass products. Working with Konto Bariéry 
(Barriers Account), we contributed CZK 40,000 to our col-
league Andrea Dvořáková for the rehabilitation and med-
ical devices for her little twins. Also 63 of our colleagues 
extended help to Andrea, having given their contributions 
to teambuilding activities exceeding CZK 30,000 to her. 
As part of the Giving Tuesday global generosity move-
ment, we and our colleagues contributed CZK 40,000 to a 
wheelchair for Valentinka Mondeková (5). We donated CZK 
84
ESSOX

85
KB Sustainability Report 2021
38,000 to support Arbida Centre’s Campus of Opportunities. 
With colleagues, we also joined the VE SPOJENÍ (Liaising) 
registered society’s initiative and helped to send gifts to 
children in 26 children homes across the country. We ful-
filled more than 800 children’s Christmas wishes. 
Support for southern Moravia 
We also responded promptly to the disastrous consequenc-
es of the tornado in southern Moravia. We immediately 
joined KB’s initiative and contributed a gift of CZK 150,000. 
Economic sustainability 
Responsible lending is the key area when assessing busi-
ness risks. We are transparent and protect our clients 
against the potential risk of a debt trap. We are one of the 
founding members of the SOLUS association for the protec-
tion of consumer leases and loans. We also actively use the 
Bank Client Information Register (BRKI) and the Non-Bank 
Client Information Register (NRKI). 
Thanks to our responsible approach, we were placed 
fifth in Responsible Lending Index 2021. From the People in 
Need non-profit organisation, ESSOX received a rating of 
five stars out of the five possible. This well-established chart 
rates consumer finance providers in 15 parameters related 
to the cost of borrowing, transparency, and responsiveness 
to clients. 
In the KB Group we actively joined the Merciful Sum-
mer initiative that gave an opportunity to people long suf-
fering from problems with repaying their loans and credit 
cards and currently going through enforcement proceed-
ings. 
When selecting suppliers we follow Corporate Social 
Responsibility and Sustainable Development and the Sus-
tainable Sourcing Charter, a joint initiative of some French 
Bank & Insurance sector companies that want to involve 
their suppliers in adopting measures for strengthened cau-
tion in the CSR system. 
In respect of suppliers and clients, we follow two 
lists, an Exclusion List and an E&S Identification List, which 
we update on a regular basis. 
Electric mobility 
We offer our clients full funding of their green projects: elec-
tric vehicles, hybrid vehicles, and also charging points, bat-
tery storage, and PV panels. 
Innovation and digitalisation 
In early 2021, we were able to report excellent news: the  
ESSOX brand financing family was expanded to include 
Hyundai and Kia. The start of this new cooperation helped 
ESSOX to boost its market position, and it has become one 
of the most prominent players in new vehicle financing. 
ESSOX’s key digitalisation project it its FÉNIX scheme, 
the purpose of which is to replace the key IT systems, which 
will help ESSOX to raise the provision of its services in con-
sumer finance to a new level of quality. The new systems are 
to provide an integrated view of the client, simplify the mar-
keting of innovations and online data processing, and the 
maximum use of ready-made business components rather 
than their development. The supplier selection process was 
completed in 2021; Unicorn and SAP, both renowned com-
panies, won the tendering procedure. The winning bid en-
visages a gradual migration to the latest generation of the 
company’s SAP S/4HANA system. 
The major innovations in 2021 unquestionably in-
clude the launch of the Spread Payment service for e-shops. 
The ESSOX payment instrument helps their customers to 
‘spread’ the payment for the goods that they buy over up to 
four instalments, completely without any mark-up or charg-
es. They can therefore buy better and more durable goods 
without excessively burdening their family budget. 
Another new product was the Cash Shop online cash 
loan. Consumers can receive up to CZK 500,000 in this ac-
cessible and completely online-arranged loan. The loan 
application, approval, and signing all take place online. We 
process the loan application and screen the client for cred-
itworthiness in real time. The subsequent signing of the 
agreement takes place in electronic form via text messages. 
We have made significant progress in the develop-
ment of the Carolina mobile app, 50% owners of which we 
became in the autumn of 2020. Upon acquisition, ESSOX 
agreed to contribute to the development of and increase 
the added value of the app, which has been downloaded by 
almost 100,000 users. In the new version, which we intro-
duced in the last quarter of 2021, Carolina brings a number 
of brand new features in addition to design adjustments. 
The most attractive feature is the option to arrange an up to 
CZK 500,000 online loan directly from the app for a vehicle 
or repair thereof. 
Year-on-year, last year we financed 82% more of 
green technologies.

In pursuing our business activities, we do not lose sight of 
the environment and society. Environmental and social 
factors constitute an integral part of our financial and in-
vestment decisions and our business activities. We all make 
sure that the activities that depend on these factors are car-
ried out in line with the SG Group’s applicable strategies and 
policies with regard to environmental protection. 
Environmental sustainability 
One of the objectives of the sustainability strategy of our 
parent company, SG Insurance, is also carbon footprint re-
duction. Between 2015 and 2020, we jointly achieved the 
goal of reducing our carbon footprint by 25% per employee. 
The new goal is more ambitious: for 2021 to 2030, we have 
pledged to reduce carbon emissions by 50%. 
Together with the SG Group, we have joined the Sus-
tainable IT Charter, focusing, among other things, on carbon 
footprint reduction, specifically by way of the following: 
	
Optimise the performance of data centres; 
	
Support E-Accessibility (e.g., API platform 
	
implementation and development); 
	
Lower electricity consumption 
	
(thanks to mutualising the server infrastructure 
	
with KB); 
	
Reduce the number of e-mailed documents 
	
(using the MS Teams communication platform for 
	
document sharing). 
We continue reducing our paper consumption, 
achieving 20% in 2021. Under the Green Company initiative, 
we give our employees an opportunity to get rid of old elec-
trical appliances through a collecting container, thereby 
significantly contributing to the protection of the environ-
ment, natural resources, and human health. 
Social sustainability 
In the context of the continuing pandemic, we offer our 
clients and partners the option of taking out policies or 
handling their requirements on a remote basis without the 
need for physical contact. Thus, many of our products can 
therefore be taken out from home without having to visit a 
branch. In 2021, we also launched claim reporting via our 
website and our clients can therefore report all claims from 
the comfort of their home. 
In 2021, we worked hard on our existing products to 
render them comparable with the market offering and, in 
particular, to meet our clients’ needs. 
In the non-life business, KP raised the limits for 
third-party liability insurance. Clients can now take out a 
TPL policy with limits of CZK 10 million and 20 million on 
compensation. 
In response to the situation caused by restricted 
travelling due to the pandemic situation, we automatically 
provided cover to KB’s clients with travel insurance on their 
payment cards also for their travels in the Czech Republic 
throughout 2021. We also improved the travel insurance con-
ditions for holders of gold and premium cards. We raised the 
limits on medical treatment costs, extended the covered pe-
riod to 90 days, and lifted the requirements of joint travelling 
with the card holder. In favour of the clients, we removed cer-
tain exclusions and modified cover for other risks. 
For the eighth time over the last nine years, Komerční 
pojišťovna received major awards in Hospodářske noviny’s 
prestigious competitions The Best Bank and The Best Insur-
ance Company in 2021. Awarded as The Best Life Insurer 
2021 and placed second in The Most Client Friendly Life In-
surer category, we again confirmed our consolidated posi-
tion in the Czech insurance market. 
In employee care, we continue to be active in sup-
porting part-time employment, flexible distribution of the 
working hours, and work-life balance. The company has 
adopted a mix of preventive measures, such as regular work 
from home, employee testing, rotating teams, and epidem-
ic standards. 
In employee recruitment, we promote diversity as 
much as possible: 57% of KP’s employees are women and 
we have a 42% share of women in managerial positions. 
We have long been working with several organisa-
tions in social charity. In cooperation with KB’s Jistota Foun-
daiton, we contributed CZK 150,000 to a project of a circular 
educational centre in Humpolec and CZK 330,000 to cope 
with the aftermath of the disastrous tornado in Moravia. 
The tornado was a very important moment for us: we are an 
insurance company, and we therefore did our best to help 
our clients and also other people hit by this natural disaster. 
We were helping financially and physically: we sent our col-
leagues to the afflicted areas to provide the strongest pos-
sible support to our clients in clearing the debris, in writing 
their claims, etc. 
Our employees joined volunteering activities and 
helped, for example, in tornado-hit areas in Moravia, in the 
cleaning of a forest near Benešov, and in the Palata home 
for the visually impaired. 
As part of the autumn media campaign, we started 
cooperation with Luboš Novotný, who has ended up in a 
wheelchair because of an accident. Luboš has long worked 
as a mentor who actively supports people after accidents 
and tries to present their new life to them as a challenge. 
Employee fundraising yielded CZK 6,000 and Komerční po-
jišťovna contributed another CZK 15,000 for a new handcy-
cle that will help Luboš with rehabilitation and also to par-
ticipate in events supporting the disabled. 
86
Komerční pojišťovna

87
KB Sustainability Report 2021
Economic sustainability 
The investment policy as part of the policies related to reg-
ulation (Solvency II) also includes an aspect concerning 
environmental and social risk management. Komerční po-
jišťovna pays special attention to issues related to socially 
responsible investing. In this context, we apply the ESG cri-
teria that govern the choice of securities and their holding in 
the portfolio or their sale. 
In line with the prudential principle, KB’s investment 
process emphasises an individualised approach to the se-
lection of investments in cooperation with specialists at 
Amundi and the SG Group, where the relevant ESG rating of 
the issuer is also used. 
As part of its investments in bonds and direct invest-
ments in equities, KP accepts recommendations from the 
SG Group and does not allow investments in the following 
sectors: 
	
Tobacco (all issuers who produce tobacco and who 
	
have more than 10% of revenues linked to the 
	
distribution and supply of and licences for tobacco 
	
products); 
	
Defence: Companies engaged in the manufacture 
	
of prohibited or controversial armaments; 
	
Coal: Companies engaged in coal mining and 
	
energy utilities who have more than 30% of their 
	
electricity generation linked to coal. 
The process of monitoring the portfolio and its qual-
ity includes regular checks focused on portfolio evaluation, 
which consists of the regular monitoring of the rating of 
each of the issuers, and monitoring the factors that may 
result in impairment, and also portfolio quality assessment 
from the perspective of the ESG criteria (monitoring of the 
ESG rating of each of the issuers). 
On our website, we transparently post information 
related to sustainability in the financial service sector. We 
have pledged to follow all SDG Group standards in environ-
mental and social risk management and respect and pro-
motion of human rights. 
Komerční pojišťovna pays special 
attention to issues related to socially 
responsible investing. In this context, 
we apply the ESG criteria that govern 
the choice of securities and their holding 
in the portfolio or their sale.
SUSTAINABLE INVESTING

Komerční banka, a.s., pobočka zahraničnej banky is the 
only foreign subsidiary of KB operating in the Slovak bank-
ing market. It is based in Bratislava and focuses exclusively 
on corporate clients. We are a firm component of the SG and 
KB Groups in terms of our values. 
Environmental responsibility 
We are serious about the commitment to reduce negative 
impacts on the environment. In our rented offices, we save 
electricity and water; we sort waste and stopped buying 
disposable plastics a long time ago; we only use office req-
uisites from recycled material and no disposable products; 
we have long been involved in used battery collection and 
seek to minimise paper use and printing; we have shifted to 
recycled paper. We were the first in the KB Group to include 
in our vehicle fleet an electric vehicle used by all employees. 
We have delineated a parking zone for scooters and incen-
tivise employees to use public transport through a contri-
bution thereto. 
Social sustainability 
Responsible employer 
KBSK is an inclusive employer that supports diversity. In 
2020, it also signed the Diversity Charter of Slovakia. With 
the transition to work from home, we have intensified our 
direct communication to employees with information 
about the current pandemic measures and the bank’s life, 
while strongly perceiving individuals’ needs. 
Outside the workplace, we promote our employees’ 
physical activity through a range of sports and the Mul-
tisport scheme. Our employees have also joined the Move 
for Youth challenge. 
We actively support their volunteering and grant one 
paid day off to each of them for these purposes. 
Client satisfaction 
We are a bank that clients regard as a stable and trustwor-
thy partner accentuating the importance of communication 
with clients. In 2021, we achieved the highest ever NPS of 72. 
Clients appreciate our high-quality services, our accessibili-
ty, and our interest in their needs. We have also polled them 
about their attitude to ESG issues in their business and the 
results tell us that we are facing a challenge to accompany 
them throughout the transformation of their business. 
Sponsorship and charity 
Every year, we allocate 1% of taxes on the basis of sugges-
tions received from the employees. In 2021, we provided 
a gift to a quarantine village in Bratislava, which served 
as shelter for the homeless. We supported the activities of 
APPA, an organisation that helps the disadvantaged. We 
wrote Christmas greetings to unknown old people through 
the Pohodovo civil association’s initiative. We prepared sus-
tainable, local, and environmental Christmas presents for 
our clients. 
Economic sustainability 
Responsible business 
We rigorously comply with all internal and external regula-
tions. We invest in the development of our systems so as to 
be able to offer our clients safe and useful digital services. 
Where clients raise any issues, we look for improvements. 
We apply the ESRM approach in transactions; we fol-
low sectoral policies while looking for opportunities in the 
green economy. We offer new sustainable products: in 2021, 
we co-financed the first ever SLL (sustainable liability loan) 
in Slovakia U.S. Steel in Košice. 
When selecting suppliers, we do not look at the quot-
ed price of the services only, but also at their quality and 
sustainability. We communicate with our suppliers on a reg-
ular basis and are a responsible business partner. 
We also partner Via Bona Slovakia, which awards 
socially responsible companies, and actively participate in 
the Circular Slovakia platform and in the ESG Commission 
of the Slovak Banking Association. 
88
Komerční banka, a.s.,
pobočka zahraničnej banky (KBSK)
When selecting suppliers, 
we do not look at the 
quoted price of the 
services only, but also 
at their quality and 
sustainability.
RESPONSIBILITY

89
KB Sustainability Report 2021

Komerční banka has been publishing its sustainability report since 2015. The 2017 report 
was the first report compiled under the Act on Accounting. The 2019 report was the first 
to use the GRI indicators, and for 2020 we also worked with SDGs and extended the GRI 
indicators to include the financial sector (FS). 
Our Sustainability Report 2021 describes the indicators that illustrate the eco-
nomic, social, and environmental impacts caused in direct consequence of our business 
activities. KB also contributes to some impacts through financing or within its supply 
chain. The relevant chapters explain how we control these impacts. 
This report for 2021 has been compiled in accordance with the revised GRI stand-
ards (2021), and we have applied them sooner. Further to the topics that we regard as 
material for us and our stakeholders, we continuously improve the comprehensiveness 
of the content of the report. In this report again we describe new indicators, primarily 
regarding the Governance, assessment of suppliers, and our approach to financing. 
Compared with last year, we newly disclose the following indicators here: 
202-1 (remuneration), 305-1, 2, 3, 4, 5 (emissions), FS5, FS7, FS8 (financing with 
positive impacts) and management approach to supplier selection (GRI 308 and 414). 
In connection with switching over to the revised GRI Standards, we have extended the  
general disclosures from the original GRI 102 (Core) and GRI 103 to the current GRI 2: 
General disclosures 2021 and GRI 3: Material topics 2021. In respect of wastes, we have 
aligned the indicators with the new version of standard GRI 306 Waste (2020). We contin-
ue to disclose the human rights indicators 408-1, 409-1, 411-1 and 412-1, 2, 3 in order to 
completely cover these topics, which are important for our stakeholders; nevertheless, 
from the perspective of the nature of KB’s business they do not constitute any risk, and 
they are also provided for in the Czech Republic’s legislative and ethics framework.
In this report we do not make any restatements of information made from previ-
ous reporting periods. 
As in the case of KB’s annual reports, our reports are released on an annual basis 
for the past calendar year. The preceding Sustainability Report was released in March 
2021. The management approach and indicators described in the non-financial report 
concern exclusively Komerční banka. Other companies in the KB Group are under no ob-
ligation to publish non-financial information under Section 32 (f) to (i) of the Accounting 
Act and are not included in the indicators reported herein. This report does nevertheless 
present the responsible approach of KB’s subsidiaries that have a significant share of the 
KB Group’s assets and results. Progressively, we are preparing to integrate non-finan-
cial disclosures on subsidiaries into these reports and we monitor the development of 
mandatory reporting under the EU Taxonomy. Société Générale reports for the whole SG 
Group at present. 
This Sustainability Report has not been audited by an independent auditor, since 
we are not subject to the obligation of external audit. An independent auditor audits KB 
Annual Report, from which some disclosures contained herein have been accepted. At 
the same time, another external auditor audits the carbon footprint calculation and con-
firms that the data included in the calculation is accurate and complete (energy and wa-
ter consumed, waste generated, business trips). Further to the tightening regulation, we 
envisage the auditing of non-financial disclosures by an external auditor going forward. 
We also report selected non-financial indicators contained herein to our parent 
company for their consolidation in Société Générale’s report. 
This non-financial report has been compiled within KB’s Brand Strategy and Com-
munication in close cooperation with other parts of the bank. In the case of interest, 
please feel free to approach the authors, Ms Zuzana Čepelková and Ms Denisa Pozníčková,  
at udrzitelnost@kb.cz.
Profile of this report 
90

91
KB Sustainability Report 2021
GRI CONTENT INDEX
Statement of use: Komerční banka a.s. has reported in accordance with the GRI Standards for the period 1 January 2021 - 31 December 2021.
GRI 1 used: GRI 1: Foundation 2021
Applicable GRI Sector Standard(s): N/A. Until the new Sector Standard is available, the GRI G4 Sector Disclosures for Financial Services are used in the report.
GRI 
Standard
Disclosure Name
Location of Disclosure  
(AR – Annual Report, NFR – Non-Financial Report)
GENERAL DISCLOSURES (GRI 2: General Disclosures 2021)
2-1
Organizational details
NFR - Profile of this report, front page
2-2
Entities included in the organization’s sustainability reporting
NFR - Profile of this report + AR - Komerční banka Group
2-3
Reporting period, frequency and contact point
NFR - Profile of this report
2-4
Restatements of information
NFR - Profile of this report
2-5
External assurance
NFR - Profile of this report
2-6
Activities, value chain, and other business relationships
NFR - Governance (Relations with suppliers, and the supplier chain) + NFR 
- Governance (Implementation of sustainability principles in sourcing); NFR - 
Sustainable financing (the whole chapter) + NFR - Subsidiaries (the whole chapter) 
+ AR - KB Group clients and their services
2-7
Employees 
NFR - Social sustainability (Average FTE number of employees)
2-8
Workers who are not employees
NFR - Social sustainability (please see page 40, number of employees on ML/PL)
2-9
Governance structure and composition
NFR - Our Strategic Approach to Sustainability (Governance in KB) + AR - 
Corporate Governance (Composition of the Board of Directors, Composition of the 
Supervisory Board, Organisational chart of Komerční banka)
2-10
Nomination and selection of the highest governance body
AR - Corporate Governance
2-11
Chair of the highest governance body
AR - Composition of the Board of Directors in 2021
2-12
Role of the highest governance body in overseeing the Governance
NFR - Our Strategic Approach to Sustainability (Governance in KB) + AR - Activity 
Report of the Board of Directors
2-13
Delegation of responsibility for managing impacts
NFR - Our Strategic Approach to Sustainability (Governance chart), AR - Committees 
established by the Board of Directors
2-14
Role of the highest governance body in sustainability reporting
NFR - Our Strategic Approach to Sustainability (Governance in KB) 
2-15
Conflicts of interest
AR - Corporate Governance
2-16
Communication of critical concerns
AR - Activity Report of the Board of Directors
2-17
Collective knowledge of the highest governance body
AR - Board of Directors + AR - Supervisory Board
2-18
Evaluation of the performance of the highest governance body
NFR - Social sustainability  (Remuneration) + Report of Remuneration
2-19
Remuneration policies
NFR - Social sustainability  (Remuneration) + Report of Remuneration
2-20
Process to determine remuneration
NFR - Social sustainability  (Remuneration) + Report of Remuneration
2-21
Annual total compensation ratio
We regard this information as confidential, hence we do not disclose it
2-22
Statement on sustainable development strategy
NFR - Introductory statements
2-23
Policy commitments
NFR - Governance (Rules of Conduct + Code of Conduct + chart External Initiatives) 
+ AR - Report of the Board of Directors
2-24
Embedding policy commitments 
NFR - Governance (Whistleblowing + chart Commitments for SG's and KB's external 
initiatives)
2-25
Processes to remediate negative impacts
NFR - Social sustainability (Complaints + KB Ombudsman ) + NFR - Governance 
(Prevention of crime, money laundering (AML))
2-26
Mechanisms for seeking advice and raising concerns
NFR - Governance (Whistleblowing)
2-27
Compliance with laws and regulations
NFR - Governance (Protection of competition), AR - Compliance risk + AR - 
Governing law 
2-28
Membership associations
Attachment
2-29
Approach to stakeholder engagement
NFR - Our Strategic Approach to Sustainability (Engagement with stakeholders)
2-30
Collective bargaining agreements
NFR - Social sustainability (Right to information and collective bargaining)
MATERIAL TOPICS (GRI 3: Material Topics 2021)
3-1
Process to determine material topics
NFR - Our Strategic Approach to Sustainability (Determining topic materiality)
3-2
List of material topics
NFR - Our Strategic Approach to Sustainability (Engagement with stakeholders - 
chart) + NFR - Our Strategic Approach to Sustainability (SDGs double-page spread)
3-3
Management of material topics 
NFR - Our Strategic Approach to Sustainability (Determining topic materiality), NFR 
- Ch. 2, Ch. 3, Ch. 4, Ch. 5
Sustainability Report 2020 (download here) 
KB Annual Report 2021 (download here)

92
ECONOMIC (GRI 200)
ECONOMIC PERFORMANCE (GRI 201: Economic Performance 2016)
201-1
Direct economic value generated and distributed
AR - Comments on the IFRS consolidated financial results + AR - Survey of Results 
2017-2021 + AR - Consolidated Statement of Income
201-2
Financial implications and other risks and opportunities due  
to climate change
NFR - Sustainable financing (Methodology for monitoring and measuring 
transaction sustainability)
MARKET PRESENCE (GRI 202: Market Presence 2016)
202-1
Ratios of standard entry level wage by gender compared to local 
minimum wage 
Social sustainability  (Remuneration)
202-2
Proportion of senior management hired from the local  
community
At the first and second management level, KB has 93% of employees from the 
Czech Republic. 
INDIRECT ECONOMIC IMPACTS  
(GRI 203: Indirect Economic Impacts 2016)
203-1
Infrastructure investments and services supported
NFR - Sustainable financing (Investment loans with a positive environmental or 
social impact)
203-2
Significant indirect economic impacts
NFR - Sustainable financing (Investment loans with a positive environmental or 
social impact) + NFR - Jistota Foundation
204-1
Proportion of spending on local suppliers 
NFR - Governance (Relations with suppliers, and the supplier chain)
ANTI-CORRUPTION MEASURES (GRI 205: Anti-corruption 2016)
205-1
Operations assessed for risks related to corruption
NFR - Governance (Anti-corruption measures)
205-2
Communication and training about anti-corruption policies  
and procedures
NFR - Governance (Code of Conduct) + NFR - Governance (Employee training)
205-3
Confirmed incidents of corruption and actions taken
NFR - Governance (Anti-corruption measures)
ANTI-COMPETITIVE BEHAVIOUR  
(GRI 206: Anti-competitive Behaviour 2016)
206-1
Legal actions for anti-competitive behavior, anti-trust,  
and monopoly practices
NFR - Governance (Protection of competition)
ENVIRONMENT (GRI 300)
ENERGY (GRI 302: Energy 2016)
302-1
Energy consumption within the organization
NFR - Enviromental sustainability (Energy consumption). KB monitors and reports 
energy consumption in kWh.
302-3
Energy intensity
NFR - Enviromental sustainability (Energy consumption)
302-4
Reduction of energy consumption
NFR - Enviromental sustainability (Energy consumption)
WATER (GRI 303: Water and Effluents 2018)
303-3
Water withdrawal 
NFR - Enviromental sustainability (Water consumption). We take drinking water 
from the public supply network through third parties. This water does not come 
from areas affected by drought.
303-5
Water consumption 
NFR - Enviromental sustainability (Water consumption). In our case, water 
consumed equals water taken.
EMISSIONS (GRI 305: Emissions 2016)
Indicators concerning emissions relate to 2020; we will post the measurements for 
2021 in May here.
305-1
Direct (Scope 1) GHG emissions
NFR - Enviromental sustainability (CO2 emissions)
305-2
Energy indirect (Scope 2) GHG emissions
NFR - Enviromental sustainability (CO2 emissions)
305-3
Other indirect (Scope 3) GHG emissions
NFR - Enviromental sustainability (CO2 emissions)
305-4
GHG emissions intensity
NFR - Enviromental sustainability (CO2 emissions)
305-5
Reduction of GHG emissions
NFR - Enviromental sustainability (CO2 emissions)
WASTE (GRI 306: Waste 2020)
306-1
Waste generation and significant waste-related impacts
NFR - Enviromental sustainability (Waste management)
306-2
Management of significant waste-related impacts
NFR - Enviromental sustainability (Waste management)
306-3
Waste generated
NFR - Enviromental sustainability (Waste management)
SUPPLIER ENVIRONMENTAL ASSESSMENT 
GRI 308: Supplier Environmental Assessment  (2016)
308
Management approach
NFR - Governance (Relations with suppliers, and the supplier chain) + NFR - 
Governance (Implementation of sustainability principles in sourcing)
SOCIAL (GRI 400)
EMPLOYMENT (GRI 401: Employment 2016)
401-1
New employee hires and employee turnover 
NFR - Social sustainability (page 44–45)
(gray box) Compared to last year, we report the following new indicators in 2021

93
KB Sustainability Report 2021
401-2
Benefits provided to full-time employees that are not provided to 
temporary or part-time employees
NFR - Social sustainability (Employee benefits and advantages  
to foster identification with the KB Group)
401-3
Parental leave 
NFR - Social sustainability (chart 6) ML a PL
LABOUR / MANAGEMENT RELATIONS  
(GRI 402: Labour/Management Relations 2016)
402-1
Minimum notice periods regarding operational changes 
NFR - Social sustainability (Right to information and collective bargaining)
OCCUPATIONAL HEALTH AND SAFETY  
(GRI 403: Occupational Health and Safety 2018)
403-1
Occupational health and safety management system
NFR - Social sustainability (Occupational health and safety and working conditions)
403-2
Hazard identification, risk assessment, and incident investigation
NFR - Social sustainability (Occupational health and safety and working conditions)
403-3
Occupational health services
NFR - Social sustainability (Occupational health and safety and working conditions)
403-4
Worker participation, consultation, and communication  
on occupational health and safety
NFR - Social sustainability (Occupational health and safety and working conditions)
403-5
Worker training on occupational health and safety
NFR - Social sustainability (Occupational health and safety and working conditions)
403-6
Promotion of worker health
NFR - Social sustainability (Measures to support employees during the covid-19 
pandemic)
403-7
Prevention and mitigation of occupational health and safety 
impacts directly linked by business relationships
NFR - Social sustainability (Occupational health and safety and working conditions)
403-8
Workers covered by an occupational health and safety  
management system 
NFR - Social sustainability (Occupational health and safety and working conditions)
403-9
Work-related injuries
NFR - Social sustainability (Occupational health and safety and working conditions)
403-10
Work-related ill health
NFR - Social sustainability (Occupational health and safety and working conditions)
TRAINING AND EDUCATION (GRI 404: Training and education 2016)
404-1
Average hours of training per year per employee
NFR - Social sustainability (Employee training and development - chart)
404-2
Programs for upgrading employee skills and transition assistance 
programs
NFR - Social sustainability (Employee training and development)
404-3
Percentage of employees receiving regular performance and career 
development reviews
NFR - Social sustainability (Performance evaluation and feedback)
DIVERSITY AND EQUAL OPPORTUNITY  
(GRI 405: Diversity and Equal Opportunity 2016)
405-1
Diversity of governance bodies and employees
NFR - Social sustainability (Diversity and inclusion) + NFR - Social sustainability 
(chart n. 13 a 14)
405-2
Ratio of basic salary and remuneration of women to men
NFR - Social sustainability (Diversity and inclusion) + NFR - Social sustainability 
(Remuneration)
NON-DISCRIMINATION (GRI 406: Non-discrimination 2016)
406-1
Incidents of discrimination and corrective actions taken
NFR - Social sustainability (Diversity and inclusion)
FREEDOM OF ASSOCIATION AND COLLECTIVE BARGAINING  
(GRI 407: Freedom of association and collective bargaining 2016)
407-1
Operations and suppliers in which the right to freedom of association 
and collective bargaining may be at risk
KB does not have any such operations, i.e. no such risk can occur
CHILD LABOUR (GRI 408: Child labour 2016)
408-1
Operations and suppliers at significant risk for incidents of child labour
KB does not have any such operations, i.e. no such risk can occur
FORCED OR COMPULSORY LABOUR  
(GRI 409: Forced or compulsory labour 2016)
409-1
Operations and suppliers at significant risk for incidents of forced or 
compulsory labour
KB does not have any such operations, i.e. no such risk can occur
SECURITY PRACTICES (GRI 410: Security Practices 2016)
410-1
Security personnel trained in human rights policies or procedures
NFR - Social sustainability (Employee training and development)
RIGHTS OF INDIGENOUS PEOPLE  
(GRI 411: Rights of indigenous people 2016)
411-1
Incidents of violations involving rights of indigenous peoples
We at KB are not aware of violations of the rules that are enshrined in Czech laws
HUMAN RIGHTS (GRI 412: Human Rights Assessment 2016)
412-1
Operations that have been subject to human rights reviews or impact 
assessments
Human rights are governed by the Czech legal order as such, therefore, human 
rights cannot be violated by the principle of the functioning of the State; i.e., there 
are no such operations, no need for specific training in this  area, no need for 
contracts and agreements to be assessed from this point of view
412-2
Employee training on human rights policies or procedures
Human rights are governed by the Czech legal order as such, therefore, human 
rights cannot be violated by the principle of the functioning of the State; i.e., there 
are no such operations, no need for specific training in this  area, no need for 
contracts and agreements to be assessed from this point of view

94
AR – Annual Report, NFR – Non-Financial Report
412-3
Significant investment agreements and contracts that include human 
rights clauses or that underwent human rights screening
Human rights are governed by the Czech legal order as such, therefore, human 
rights cannot be violated by the principle of the functioning of the State; i.e., there 
are no such operations, no need for specific training in this  area, no need for 
contracts and agreements to be assessed from this point of view
LOCAL COMMUNITIES (GRI 413; Local Communities 2016)
413-1
Operations with local community engagement, impact assessments, 
and development programs
KB does not have any such operations
413-2
Operations with significant actual and potential negative impacts on 
local communities
KB does not have any such operations
SUPPLIER SOCIAL ASSESSMENT  
(GRI 414: Supplier Social Assessment (2016))
414
Management approach
NFR - Governance (Relations with suppliers, and the supplier chain) + NFR - 
Governance (Implementation of sustainability principles in sourcing)
POLITICAL CONTRIBUTIONS (GRI 415: Political Contributions 2016)
415-1
Political contributions
Governance (Interest representation)
CUSTOMER HEALTH AND SAFETY  
(GRI 416: Customer Health and Safety 2016)
416-1
Assessment of the health and safety impacts of product and service 
categories
Our products and services have no negative impact on health and safety
416-2
Incidents of non-compliance concerning the health and safety impacts 
of products and services
Our products and services have no negative impact on health and safety
MARKETING AND LABELLING OF PRODUCTS AND SERVICES  
(GRI 417: Marketing and Labelling 2016)
417-1
Requirements for product and service information and labelling
NFR - Social sustainability (Complaints) 
417-2
Incidents of non-compliance concerning product and service 
information and labelling
NFR - Social sustainability (Client data security)
417-3
Incidents of non-compliance concerning marketing communications
NFR - Social sustainability (Complaints) 
CUSTOMER PRIVACY (GRI 418: Customer Privacy 2016)
418-1
Substantiated complaints concerning breaches of customer privacy and 
losses of customer data
NFR - Social sustainability (Complaints) + NFR - Social sustainability (Client data 
security)
ADDITIONAL SECTOR DISCLOSURES: FINANCIAL SERVICES  
(G4 Sector disclosure: Financial Services)
FS1
Policies with specific environmental and social components applied to 
business lines
NFR - Governance (Environmental and social risk management)
FS2
Procedures for assessing and screening environmental and social risks 
in business lines
NFR - Sustainable financing (Methodology for monitoring and measuring 
transaction sustainability) + NFR - Sustainable financing (Investment loans with 
a positive environmental or social impact)
FS3
Processes for monitoring clients’ implementation of and compliance 
with environmental and social requirements included in agreements or 
transactions
NFR - Sustainable financing (Investment loans with a positive environmental or 
social impact)
FS4
Process(es) for improving staff competency to implement the 
environmental and social policies and procedures as applied to business 
lines
NFR - Sustainable financing (Improving staff competency to implement the 
environmental and social policies)
FS5
Interactions with clients/ investees/business partners regarding 
environmental and social risks and opportunities
NFR - Governance (Relations with suppliers, and the supplier chain) + NFR - 
Governance (Sustainability in financial services)
FS7
Monetary value of products and services designed to deliver a specific 
social benefit for each business line broken down by purpose 
NFR - Sustainable financing (Investment loans with a positive environmental or 
social impact)
FS8
Monetary value of products and services designed to deliver a specific 
environmental benefit for each business line broken down by purpose  
NFR - Sustainable financing (Investment loans with a positive environmental or 
social impact)
FS14
Initiatives to improve access to financial services for disadvantaged 
people 
NFR - Social sustainability (Service accessibility for disadvantaged people)
FS16
Initiatives to enhance financial literacy by type of beneficiary
NFR - Social sustainability (Financial education and literacy)
(gray box) Compared to last year, we report the following new indicators in 2021

95
American Chamber of Commerce in the Slovak Republic
Association for Energy Storage and Batteries
Association for Electronic Commerce (APEK)
Czech Capital Market Association (AKAT)
Association for Property Market Development
Association of Social Responsibility
Association of Business Service Leaders in the Czech Republic
Association of Certified Fraud Examiners (ACFE)
Association of Chartered Certified Accountants (ACCA)
Business for Society
CGI - Corporate Governance Institute
Circular Slovakia
COGEN Czech
Comite National des conseillers du commerce exterieur  
de la France (CNCCEF)
CZ Biom, Czech Biomass Association
Czech Institute of Directors 
Czech Institute of Internal Auditors (ČIIA) 
Czech Banking Association (ČBA)
Czech Compliance Association
Czech Management Association
Business Council for Sustainable Development (CBCSD)
Czech-German Chamber of Trade and Industry
European Banking Federation (Payment System Committee)
French-Czech Chamber of Commerce in the Czech Republic
French-Slovak Chamber of Commerce in Slovakia (FSOK)
Netherlands-Slovakia Chamber of Commerce (HOK)
Czech Chamber of Commerce
Chamber of Tax Advisors of the Czech Republic
International Swap and Derivatives Association (ISDA)
Japanese Chamber of Commerce and Industry in the Czech Republic
CFO Club
Chamber of Certified Accountants
Korean Chamber of Commerce in the Czech Republic
Marketing Institute (MKTI)
MasterCard International (MCI)
Mountfield HK Business Club
SWIFT Members National Association in Slovakia
National Committee of the International Chamber of Commerce  
in the Czech Republic (ICC)
Odyssea
People Management Forum
PMF - HR FORUM
Debt Advisory Centre - Counselling
Czech Advertising Standards Council
Bank Card Association (SBK)
COMMON Czech Republic association
Slovak Compliance Circle (SCC)
Slovak Banking Association
Slovak-German Chamber of Trade and Industry (DSIHK)
Czech-Chinese Chamber of Mutual Cooperation
Society for Worldwide Interbank Financial Telecommunication (SWIFT)
Solar Association
Union of Banks and Insurance Companies
The Czech Private Equity and Venture Capital Association (CVCA)
The Financial Markets Association of the Czech Republic (A.C.I.) – Forex Club
Turnaround Management Association, Czech Republic
Visa Europe, Czech Republic and Slovakia
ANNEX: MEMBERSHIP OF ORGANISATIONS