Bank Austria Creditanstalt
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| Subsidiary of Unicredit | |
| Industry | Finance and Insurance |
| Founded | 1855 CA 1880 Länderbank 1905 Zentralsparkasse 1991 Bank Austria (fusion of ZSK and LB) 2002 Bank Austria Creditanstalt 2008 Bank Austria |
| Headquarters | Vienna, Austria |
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Key people
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Robert Zadrazil, Chairman |
| Products | Commercial banking, Investment banking, Private banking, Asset management |
| Revenue | €191.4 bn (as of 2015) |
| Parent | Unicredit |
| Website | www.bankaustria.at |
UniCredit Bank Austria AG, better known as Bank Austria, is an Austria bank, 96.35% owned by UniCredit Group. The bank maintains an extensive network in Austria, with about 7,700 employees serving customers in some 300 branches. Bank Austria also served as UniCredit's intermediate holding company for the banking network in Central and Eastern Europe (until September 2016), a region where the Group is the clear market leader with about 3,900 branches in 19 countries. However, all the CEE subsidiaries were transferred to the parent company in September 2016. As per 2008, 85% of Bank Austria's total workforce is employed out of Austria.
Since 2007, Bank Austria is also responsible for all UniCredit affiliates in the European Union. Thus, Bank Austria inherited operation in 20 countries it had no representation before, of which even UniCredit had no activity. However, Bank Austria could not retrieve its business in Poland, where it had been well represented by BHP.
The 2000s saw the bank in the middle of substantial litigation around trustee Rudolfine Steindling's transfer of former East German, now German, money to her own accounts. In 2010 a Swiss court ruled that the predecessor Österreichische Länderbank had broken the law by aiding her to channel away the money and had to pay €240 million but a higher court overruled this decision on formal grounds.
Total assets of Bank Austria as at 31 December 2011 were EUR 199.2 billion. Bank Austria is the number one banking partner for Austrian companies:
have confidence in Bank Austria's services.
BA-CA's history goes as far back as 1855, the year the Creditanstalt was founded (see article on Creditanstalt).
In 1991, savings bank Zentralsparkasse und Kommerzialbank der gemeinde Wien and financially depressed, state-owned Österreichische Länderbank merged to form Bank Austria, by then the biggest bank in the country. Current corporation was established in 1996 and German WestLB took a 9.1% share. The same year, the government announced the privatization of Creditanstalt, of which it held a 51% stake. In January 1997 Bank Austria finally managed to buy the stake for about 1.25 billion euros. In turn, Bank Austria sold a majority stake in GiroCredit 8.24 billion schillings (about 600 million euros) to Erste Bank. In February 1998, the state sold its last shares and the remaining shares on the market were exchanged with shares in Bank Austria, and Creditanstalt was delisted from the .
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Wikipedia