Bank Austria

Source: Wikipedia, the free encyclopedia.
UniCredit Bank Austria AG
Founded18 September 1996 (1855 as Österreichische Credit-Anstalt für Handel und Gwerbe)
HeadquartersVienna, Austria
Key people
  • Robert Zadrazil,
    CEO
  • Gianfranco Bisagni,
    Chairman
ProductsRetail and
Investment banking, Private banking, Asset management
€1.993 million (2022)
€823 million (2022)
Total assets€107.3 billion (as of year-end 2022)
Total equity€9.4 billion (2022)
Number of employees
4,872 (Full-time equivalents/FTE, as of year-end 2022)
Websitewww.bankaustria.at

UniCredit Bank Austria AG, branded and widely referred to as Bank Austria, is an Austrian bank, 99,9965% owned by

Creditanstalt-Bankverein
in 1997, and merged with it to form Bank Austria-Creditanstalt (BA-CA) in 2002. Its name reverted to Bank Austria in 2008, as UniCredit, the bank's owner since 2005, phased out the history-laden Creditanstalt brand.

History

Bank Austria was formed in 1991 by the merger of the troubled

Vienna Stock Exchange
.

In stages from 2000 to 2002,

IPO
in 2003.

In June 2005 Italian group UniCredit announced the acquisition of HypoVereinsbank, along with BA-CA. Restructuring led to the creation of a new holding for BA-CA foreign assets in eastern Europe, the transformation of the Polish activity to a full affiliate, the shrinking of BA-CA per se to a smaller market, and the shrinking of HVB to the German market. In order to respect cartel restriction in

Živnostenska banka (Czechia), UniBanka (Slovakia) and UniCredit Romania from UniCredit in that operation.[1]

In 2006 BA-CA continued its expansion in Russia by acquiring remaining shares in

Aton Capital - a Russian brokerage.[2] Moreover, Kazakh bank ATFBank was acquired in 2007.[3]

Since 31 March 2008, the bank has been operating under the brand name "Bank Austria" and has a new logo to show the connection to the UniCredit Group. It had the strongest capital base among the large banks in Austria, its Core Tier 1 ratio amounted to 10.55% and its Total Capital ratio to 12.7% as of 31 December 2011.

In 2016, UniCredit took back from Bank Austria direct ownership of its affiliates in Central and Eastern Europe. Also as of 2016, Bank Austria was managed by CEO Robert Zadrazil.

Controversy

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 [4] that the predecessor 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.

See also

References

  1. ^ "UniCredit finalizes the transfer to BA-CA of its banking shareholdings in Central Eastern Europe (excluding Poland)". UniCredit. 19 March 2007. Retrieved 22 December 2016.
  2. ^ Bank Austria – Weiterleitung
  3. ^ "news.ORF.at".
  4. ^ Der Standard, Austrian newspaper in German

External links

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