Sparkasse Bregenz

Sparkasse Bregenz Bank AG
Country	Austria
Seat	Sparkassenplatz 1, 6900 Bregenz
legal form	Corporation
Bank code	20601
BIC	SPBRAT2BXXX
founding	1822
Association	Austrian Savings Bank Association
Website	www.sparkasse.at/bregenz
Business data 2018
Total assets	828 million euros
insoles	625 million euros
Customer credit	585 million euros
Employee	97
Offices	7th
management
Board	Martin Jäger (Chairman) Gerhard Lutz (Deputy)
Supervisory board	Werner Böhler (Chairman)
List of savings banks in Austria

The Sparkasse Bregenz is a corporation founded in 1822 as an association Sparkasse Austrian bank with headquarters in Bregenz and the oldest banking institution in Vorarlberg. It is a member of the cooperation and liability association of the Austrian savings banks and the Austrian savings banks association.

Company data

currency	year	Customer Loans	savings	Total assets
Gulden ö. W.	1870	39	46	50
Gulden ö. W.	1895	1,586	2,272	2,491
Crown	1900	4,666	5,814	6,421
Crown	1920	10,733	38,570	40,792
Shilling	1925	1,838	2,394	2,793
Shilling	1935	5,874	8,533	10,595
Reichsmark	1940	4,796	7,511	10,031
Reichsmark	1944	2,345	22,187	29,591
Shilling	1955	14,989	27,675	40,758
Shilling	1965	65,714	117,598	156,488
Shilling	1998	2,254,708	1,685,499	3,950,101
Euro	2008	392.425	193.262	587,950
Euro	2009	421.294	199.057	575.005
Euro	2010	459.013	205.187	604.974
Euro	2011	462,661	229,604	626.553
Euro	2012	453.161	251.825	678.912
Euro	2013	445.175	256.034	697.903
Euro	2014	455.433	255.244	706.858
Euro	2015	482.771	251,330	711,645

history

The savings bank association consisted of 18 members who raised a total of 2,700 Austrian guilders start-up capital. In 1848, the municipality of Bregenz took over the savings bank as a community savings bank and in the first period of its existence the savings bank held cash register hours once a week. Day traffic, including Sunday service, was introduced before 1880. Sunday service was discontinued in 1914. In 1925 the Sparkasse converted its rooms in the town hall. In 1938 the administrative commission decided to buy the house at Rathausstrasse 29 and to adapt it for the purposes of the Sparkasse. After long negotiations with the tenants of the house, the Sparkasse was finally able to start operations in the new premises in 1940. In 1970 the first branch was established in Rieden-Ante-Monastery. The branches Hard 1972, Lochau 1977, Wolfurt 1980 and Franz-Ritter 1982 were then founded. In 1998 the first youth bank in Vorarlberg, spark7, was opened. In 2002 the new branch in Hörbranz was opened. In October 2002 the Sparkasse Bregenz moved out of the old Sparkasse building, as the building was demolished in January 2003.

In 2004, Sparkasse Dornbirn increased the shares it already held in Sparkasse Bregenz by taking over the block of shares (around 44 percent) from Erste Bank. With 70.48 percent, Sparkasse Dornbirn became the majority shareholder. The other 29.52 percent at that time was split between Sparkasse Feldkirch, Sparkasse Bludenz, Sparkasse Egg and the municipality of Bregenz. On December 8, 2004, the opening ceremony of the new savings bank building took place. In the course of a project in Wolfurt, in which three different uses were to be brought together in one building - a restaurant, a hotel and a savings bank branch - the Wolfurt branch moved to the new premises in the "Star Area" in June 2011.

criticism

After the start of the financial crisis in 2008, Sparkasse Bregenz changed its method of calculating the refinancing costs for loans. Instead of using the calculation method based on LIBOR or EURIBOR as before , the bank used the 3-month refinancing rate of the Austrian savings banks, which is calculated by Erste Group Bank AG . Erste Group added a surcharge to cover its costs and income. Since this internal surcharge was not disclosed, the following clause, among other things , has been declared by the Innsbruck Regional Court to be non-transparent and inadmissible:

For this interest period, the interest rate is…% pa (margin) above the 3-month refinancing rate indicator of the Austrian savings banks. The interest rate determined in this way is rounded down to three decimal places. The 3-month refinance of the Austrian savings banks is the interest rate determined by Erste Bank Group AG at around 2:15 p.m. two business days before the start of the respective interest period for the corresponding interest period in the relevant financing currency.

This refinancing rate has been and is currently almost consistently higher than LIBOR or EURIBOR for Swiss francs and euros in recent years.

As a result of the ruling, the Vorarlberger Sparkassen had to adjust affected consumer loans, which was implemented on July 1, 2014. Since then, interest rate adjustments have been based on LIBOR (foreign currency loans) and EURIBOR (euro loans).

Awards

• Sparkasse Bregenz has been the bearer of the Austria quality mark since 2005 (certificate no .: 89.001)
• In November 2015, Sparkasse Bregenz received the seal of approval “Excellent training company” for the third time for a further three years.
• In March 2013, Sparkasse Bregenz received the “salvus SILVER” health seal of approval for 2013 and 2014. This seal of approval was recertified in March 2015 for two more years.
• On January 16, 2014, Sparkasse Bregenz was awarded the “Excellent family-friendly company” seal of approval by the state of Vorarlberg. A total of 65 Vorarlberg companies received an award for two years (2014 to 2015).

Branches

By year of foundation:

• Central Bregenz City; Foundation: 1822
• Bregenz Rieden pre-monastery; Foundation: 1970
• Hard; Foundation: 1972
• Wolfurt; Foundation: 1980
• Lochau; Foundation: 1977
• Bregenz Franz-Ritter; Foundation: 1982
• Spark7 (youth bank); Foundation: 1998
• Hörbranz; Foundation: 2002

Individual evidence

1. ↑ ^{a b} query for bank code 20601. In: SEPA payments directory of the Oesterreichische Nationalbank (OeNB) . (Requires browser reloading.)
2. ↑ Annual Report 2018
3. ↑ Dornbirner Sparkasse becomes majority shareholder in Sparkasse Bregenz. Wirtschaftszeit, September 24, 2004, accessed October 12, 2019 . 
4. ↑ Annual report 2012 of Sparkasse Bregenz Bank AG (PDF file; 5.6 MB)
5. ↑ Innsbruck Higher Regional Court: Fixed interest rate on refinancing rate not permitted. verbrauchrecht.at, February 12, 2014, accessed on December 31, 2014 . 
6. ^ Judgment of the Higher Regional Court Innsbruck . Accessed December 31, 2014.
7. ↑ International interest rates and economic indicators from Global-Rates . Accessed December 31, 2014.
8. ↑ Refinancing rates of the Austrian savings banks . Accessed December 31, 2014.
9. ^ OLG: Sparkasse clause illegal. vorarlberg.orf.at, February 12, 2014, accessed on December 31, 2014 . 
10. ↑ Quality Austria: Success with quality. In: qualityaustria.com. Retrieved April 23, 2020 . 
11. ↑ Awarded training companies 2015. In: wko.at. Retrieved April 23, 2020 . 
12. ↑ Press release 2013 of the award of the "salvus SILVER" health seal of approval (DOC file; 3.2 MB)
13. ↑ salvus final report 2015 (PDF file; 214 kB)
14. ↑ Family- friendly company Vorarlberg ( Memento from June 17, 2014 in the Internet Archive ) (PDF)

Web links

• Official website

Coordinates: 47 ° 30 ′ 14 "  N , 9 ° 44 ′ 46.9"  E