First Bank
| First bank of the oesterreichischen Sparkassen AG | |
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| Country |
 Austria
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| Seat | Vienna |
| legal form | Corporation |
| Bank code | 20111 |
| BIC | GIBAATWWXXX |
| founding | 1819 |
| Website | www.erstebank.at |
| Business data 2018 | |
| Total assets | EUR 28.1 billion |
| insoles | EUR 22.2 billion |
| Customer credit | EUR 19.4 billion |
| Employee | 2.711 |
| management | |
| Board | Peter Bosek, Thomas Schaufler, Willibald Cernko, Gerda Holzinger-Burgstaller |
| Supervisory board | Andreas Treichl |
The Erste Bank Oesterreich (Company Wording: Erste Bank der österreichischen Sparkassen AG ), based in Vienna is the latest manifestation of which was founded in club form 1819 first Austrian savings bank (such as the Institute until 1997 was called) and thus the oldest existing bank in Austria. It has been run as a stock corporation since 1993, floated on the stock exchange in 1997, linked to the other savings banks in the country in 2001 and has been operating as a member of the Erste Group that it founded since 2008 , which is now a holding company for seven banks acquired by Erste in Central and Eastern Europe acts.
With the savings banks, Erste Bank, the central institution of the Austrian savings bank group , is one of the largest banking groups in Austria; More than 15,000 employees serve more than 3.6 million customers in around 1,000 branches and over 180 bank branches. The savings bank group's customer share in Austria is around 30 percent of the entire banking industry. In so-called private banking , Erste Bank is one of the market leaders in Austria with assets under management of around 48 billion euros (including institutional clients).
history
Spar-Casse founded in 1819
In the economically difficult years after the end of the Napoleonic Wars , Emperor Franz I suggested the establishment of a savings bank based on the Scottish model. The then governor of the National Bank, Bernhard Ritter von Eskeles , and the Prague entrepreneur Ignaz Ritter von Schönfeld gathered respected citizens of Vienna's Leopoldstadt and wrote the statutes. Johann Baptist Weber , pastor of the Leopold Church in what was then the Viennese suburb of Leopoldstadt in what is now the 2nd district , was found to be the protagonist of this idea. He became the first chairman on October 4, 1819 and opened the first bank branch of the “Erste oesterreichischen Spar-Casse”. It was the first savings bank based on the Scottish model on the continent. Hundreds of savings banks in all parts of the then German Empire followed this pattern.
Their tasks were described in the statutes of the founding year as follows: “[It] has the purpose [...] to give the factory worker, the farmer, or any other industrious and thrifty underage or adult person the means of their arduous acquisition From time to time to put back a small amount of capital in order to use it in later days to justify better provision, to dowry, to help out in illness, in old age or to achieve any praiseworthy purpose. ”This guiding principle of the Sparkasse - the promotion of the saving spirit and the provision - has remained essentially unchanged through generations to this day. As a signet, the first chose a symbol for economy and diligence: the bee in front of the beehive.
Soon after it was founded, the “First Austrian”, as the institute was usually briefly called, developed rapidly and, together with the general pension institution affiliated with it, spread across the entire Danube Monarchy . The Cassa di Risparmio delle Provincie Lombarde (Cariplo), founded in 1824 and today the world's largest savings bank, can be traced back to Erste Österreichische Spar-Casse according to its statutes.
The "First Austrian" in 1938
The time after Austria's "annexation" to the National Socialist German Reich in 1938 brought a serious test for the house. After all, despite the greatest pressure, the company managed to keep the word "Austrian", which the new rulers withdrew from circulation as quickly as possible. The “Spar-Casse” remained the only institution that had the word “Austrian” in its name from 1938–1945. Jewish employees of the Sparkasse lost their jobs. The savings bank was also misused to finance war preparations for the National Socialist regime.
Reconstruction from 1945 and development into a bank
The reconstruction after the Second World War brought with it a development that also opened up new business areas for the EÖSpC: the expansion of private payment transactions, state-subsidized forms of savings, the financing of investments , the promotion of new products, assistance in exporting and lending to private customers Household. The development of financial institutions into supposed "universal problem solvers" for all customer groups progressed rapidly.
The legal approval of the establishment of branches without restrictions in 1977, the Banking Act passed in 1979 and the termination of the credit interest agreement of the Austrian credit institutions in 1980 led to a new situation in the Austrian banking industry . In the course of the liberalization of the legal framework as well as the internationalization and rapidly advancing technology of the banking business, all banks and savings banks competed for the customers of the competition.
In 1993 the business of Erste was transferred to Die Erste Österreichische Spar-Casse - Bank Aktiengesellschaft , a newly established subsidiary, in accordance with the 1986 amendment to the Banking Act . The previous Sparkasse remained as the holding company for the shares in the subsidiary and changed its name to Die Erste Österreichische Spar-Casse Aktienverwaltungssparkasse (AVS) . The ERSTE Austrian Spar-Casse Private Foundation (ERSTE Foundation) emerged from it later (2003) .
After this change, Erste was able to issue preference shares. In November 1993 the preference shares were listed on the Vienna Stock Exchange, the insurance company EA- Generali and the insurance holding BARC , which already held participation certificates , exchanged them for preference shares . In addition, in 1993 the Erste offered preferred shares to the public. From 1994 to 1996 participation certificates were exchanged for preference shares, with the result that almost all participation certificates issued by Erste Bank have been exchanged. As a result, a regular IPO was undertaken: the issue of common shares .
Acquisition of GiroCredit, Erste Bank 1997
When General Director Andreas Treichl took over the chairmanship of the Executive Board in 1997, succeeding General Director Konrad Fuchs , the first set up a new direction. Treichl was a member of the board from 1994. The top institute in the savings bank sector gradually became a group together with the other Austrian savings banks.
The first step in this direction was the takeover of GiroCredit Bank AG der Sparkassen (GiroCredit) on March 19, 1997. Together with AVS, Erste bought 56.1% of the ordinary shares of GiroCredit (51.1% of the total share capital) , which had previously been were held by the Aktienverwaltungssparkasse Zentralsparkasse (AVZ) . With the 26% of the ordinary share capital (24.7% of the total share capital) already held by the Erste Group (Die Erste, Salzburger Sparkasse and Sparkasse Mistelbach), AVS and Erste Group gained control of 82.1 % of the ordinary shares (75% of the share capital) of GiroCredit.
On the basis of the merger agreement of June 27, 1997, Die Erste was merged with Giro Credit, legally effective on October 4, 1997. The contract provided for the exchange rate for common shares of GiroCredit for common shares of the new Erste Bank at a ratio of 2.4: 1. The merger took place through the incorporation of GiroCredit into Erste. All rights and obligations of GiroCredit were transferred to Erste by way of universal succession. At the same time, the name of the bank was changed from Die Erste Österreichische Spar-Casse - Bank AG to Erste Bank der oesterreichische Sparkassen AG .
IPO 1997, capital increases, acquisitions
The IPO in autumn 1997, with the issue of 11.5 million shares with a total value of the equivalent of 500 million euros, represented the largest issue on the Vienna Stock Exchange to date . That Erste Bank could from now on also act as a uniform, financially powerful banking group , was ensured through the implementation of the "sector cooperation". This provided for a joint liability scheme in which Erste Bank holds 51% and all other savings banks hold a total of 49% and which regulates the flow of funds between the savings banks and Erste Bank. A joint market presence, a joint risk policy, joint production and an IT network were also implemented.
General director Treichl is quoted as follows on the website: "Regionally anchored, independent institutes form a customer-oriented, powerful financial group".
After restructuring and going public, Erste Bank began expanding in Central and Eastern Europe in 1997 . To this end, 6 million shares (over EUR 280 million) were successfully placed on the Vienna Stock Exchange in the course of a capital increase in autumn 2000. With the second capital increase, a further 9.21 million shares (around 642 million euros) were placed on the Vienna Stock Exchange . The proceeds were primarily used to purchase shares in the Czech savings bank, Česká spořitelna , from AVS and to recapitalize the acquisition of Riječka banka in Rijeka , Croatia . Erste Bank shares have also been traded on the Prague Stock Exchange since October 1, 2002 .
In 2001 Erste Bank took over 51% of the Tiroler Sparkasse . The first handed over three bank branches in Tyrol to this savings bank; as a result, Erste Bank's stake in Tiroler Sparkasse increased to 69.51%.
In 2004 Erste Bank carried out a share split at a ratio of 1: 4 after the Erste Bank share had developed successfully in previous years (price increase by 180% to over 125 euros): One old share became four new ones. The resulting smaller units should make trading in Erste shares easier.
The third capital increase was carried out in 2006, in which investors bought new shares for 2.918 billion euros. This capital increase was the largest in the history of the Vienna Stock Exchange with its ATX share index . The proceeds were used to partially take over the Banca Comercială Română (BCR), which, according to observers, was bought too expensive.
In 2008, Erste Group Bank AG was founded as a new holding company, which took over all foreign holdings from Erste Bank (for the individual acquisitions: see Erste Group). Since then, Erste Bank Austria has also been operating as a subsidiary of the Erste Group. The Erste share represents the participation in the entire Erste Group and is listed on the stock exchanges in Vienna, Prague and Bucharest.
Company structure
2008: Erste Group and Erste Bank
With the entry in the commercial register on August 9, 2008, the spin-off of the Austrian business of “Erste Bank der oesterreichischen Sparkassen AG” from the newly founded holding company Erste Group Bank AG became legally effective. The new company structure became necessary in the course of the expansion of Erste Bank in the growth region of Central and Eastern Europe and was decided by the bank committees in December 2006. It leads to a clear division of tasks between "Erste Group Bank AG", which performs the holding functions, and the subsidiary banks it holds in the individual countries. The holding company carries out the strategic control functions and provides the infrastructure for local customer business in the individual markets. In addition, she is responsible for the operating divisions “Global Markets” and “Group Corporate and Investment Banking”. Erste's banking business in Austria will continue to be looked after by “Erste Bank der oesterreichischen Sparkassen AG”.
Ownership structure
Erste Bank Oesterreich is a 100% subsidiary of Erste Group .
Erste Bank and Sparkassen
The liability association
The most important milestone in the cooperation with the Austrian savings banks was set on September 26, 2001 with the establishment of the liability association between Erste Bank and Sparkassen.
The cooperation and liability association sees itself as an association of regionally anchored savings banks that want to expand their market position through an effective production network, standardization of the market presence and advertising line, a uniform risk policy, coordinated liquidity management and common standards in controlling.
In addition, it is the purpose of this association to identify any economic problems of its members as early as possible and to provide the members with efficient help in overcoming economic problems.
This can range from technical support to the assumption of liabilities and the supply of external or own funds.
In addition, after the state deposit guarantee has expired, the aim is to achieve protection that goes beyond the statutory deposit guarantee for customers by establishing a correspondingly structured liability for the participating savings banks. The handling of such measures as well as the ongoing analysis of the economic situation of each member is entrusted to the Haftungsverbund GmbH, in which the participating savings banks hold a total of 49% and Erste Bank Oesterreich with 51%.
The comeback of the savers
First drawn in Germany in 1955, born in Austria in 1956: Sparefroh is the mascot of Erste Bank and Sparkassen in Austria and has become a well-known figure.
Special offers
FounderCenter
Erste Bank and Sparkassen operate start-up centers throughout Austria. The GO! GründerCenter offer financing and funding advice, support in drawing up the business plan and a comprehensive network. As part of the GO! Start-up offensive, there are ongoing events on the topics of business start-ups and business succession.
Spark7
Spark7 is the youth brand of Erste Bank and Sparkassen and a platform for all young people in Austria. It offers services such as B. discounted tickets or an Internet community specially geared towards the needs of young customers. The spark7 brand was founded in 2001. Spark7 customers receive specially designed account cards with Maestro - and Quick - as well as other functions, such as the option to top up a prepaid mobile phone via the Internet, with eBanking access if desired. Compared to adult account cards, there are no fees for transfers, withdrawals or similar processes. The new Debit MasterCard has been available since 2019 , with which young people can pay in online shops like with a normal credit card.
Erste Bank sponsorship
Sports
In Austria, more than 200 running events are sponsored annually by Erste Bank and Sparkassen. The “Erste Bank Sparkasse Running Initiative” is the largest running initiative in Austria. The spectrum of events ranges from the Vienna City Marathon to the fun run, from the children's run to the relay run to various regional running events.
Erste Bank has been a league sponsor of the top division in Austrian ice hockey and the Austrian national team since 2003 . The Erste Bank Ice Hockey League (EBEL) consists of twelve teams, eight Austrian and four international (one each from Slovenia, Hungary, the Czech Republic and Italy). The total number of spectators in the league is over 1 million.
In addition, as a sponsor of the school league, Erste Bank und Sparkassen supports young footballers and young volleyball players.
Art, culture and social issues
The bank operates the MehrWERT sponsorship program. In addition to long-term sponsorship partnerships with Caritas , the Viennale , the music association and the Austrian relief organization , current projects are also regularly funded.
Web links
- Erste Bank website
- Erste Group website
- Erste Foundation website
- Website of the youth club spark7
- Erste Bank Running
- Erste Group Annual Report 2016
Individual evidence
- ↑ a b query for bank code 20111. In: SEPA payments directory of the Oesterreichische Nationalbank (OeNB) . (Requires browser reloading.)
- ↑ Annual financial statements 2018 - Erste Bank der oesterreichischen Sparkassen AG (PDF)
- ↑ Federal Law Gazette No. 64/1979
- ↑ Federal Law Gazette No. 325/1986
- ↑ Entry on Andreas Treichl in the Austria Forum (in the AEIOU Austria Lexicon )
- ↑ Liability association of the savings bank group ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ↑ Distribution of Erste Group August 11th, 2008 ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ↑ Information on Sparefroh ( memento of the original from August 25, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ spark7
- ↑ spark7 BankCard. In: Erste Bank and Sparkassen. Retrieved November 19, 2019 .
- ↑ Home | Erste Bank Sparkasse Running. Retrieved November 9, 2017 .
- ↑ Home | Erste Bank Sparkasse Running. Retrieved November 9, 2017 .
- ↑ More spectators in the Erste Bank Eishockey Liga . boerse-express.com, March 27, 2015
- ↑ Erste Bank Added VALUE sponsoring. Retrieved November 9, 2017 .
Coordinates: 48 ° 11 ′ 12.7 " N , 16 ° 22 ′ 51.4" E