In 2005, the Medicinos Bankas UAB joined the international initiative Global Compact (GC), whereby business companies are encouraged to perform their activities on the basis of ten universal principles: human rights, rights of employees and protection of environment and to contribute to the fight against corrupt practices.

The Global Compact is the largest voluntary initiative of social responsibility in the world.

The goal of the GC is to encourage companies to act responsibly: avoid damage to environment, communities and other businesses and, using joint efforts with United Nations, state authorities and non-governmental organisations, to participate in solving social and environmental problems and contributing to public development and economic growth.

Medicinos Bankas has joined the GC in the hope that the ten principles of the GC are of critical importance in order to create long-term value of the Bank for its customers, staff and shareholders.

THE SOCIAL PROGRESS REPORT of Medicinos Bankas presents Bank achievements in the implementation of the principles of the Global Compact throughout the activity in 2011.

Principles of the GC aim that business organisations:

• Principle 1: support and respect protection of internationally proclaimed human rights in the areas of their influence;
• Principle 2: are not complicit in human rights abuses;
• Principle 3: support freedom of association and recognise the right to efficient collective bargaining;
• Principle 4: eliminate all forms of forced and compulsory labour;
• Principle 5: abolish child labour;
• Principle 6: eliminate discrimination in respect of employment and occupation;
• Principle 7: support precautionary programmes assuring protection of environment;
• Principle 8: undertake initiatives to promote greater environmental responsibility;
• Principle 9: encourage development and diffusion of environmentally friendly technologies;
• Principle 10: fight against corruption in all its forms.

In the plan for implementation of the bank strategy for 2010–2012, it is planned to follow the principles of GC when solving issues of work organisation.

Medicinos Bankas contributes to public artistic development and promotion of activities of children and youth and continues providing consistent support to the ‘Saulius Karosas Charity and Support Foundation’. Also have close relationship with ‘State Vilnius Quartet’.

The ‘Saulius Karosas Charity and Support Foundation’ was established in 1998. During the ten years of its activities, it became an integral part of Lithuanian artistic development. The foundation provided funding and allowed young musicians to study in prestigious higher schools of art in Western Europe and USA.

Medicinos Bankas continues the nice tradition and actively supports the ‘Saulius Karosas Charity and Support Foundation’.