Overview of Top Banks in Austria
The banking system is very dynamic and developed in Austria. There is around 700+ financial institution operating today in Austria. Due to the historical reason in the region, the banking system in Austria is differentiated according to the trade association to the various sectors. The structure currently operating in the region are given below: –
- Single Tier Structure: This structure involves various joint-stocks banks, housing construction banks, institutions which are specialized credit as well as various mortgage banks
- Two-tier Structure: Includes the traditional savings and cooperative banks operating
- Three- tier Structure: Includes Raiffeisen Banks
According to the report of Moody’s released the bank’s sector in Austria is developed and is stable due to the lower exposure to higher credit risk and timely repayments. Here is the list of top banks operating in the country and anyone with interest in Banking or Investment Banking should consider working for one of these Corporate Banks which provides greater corporate exposure.
List of Top Banks in Austria
Here is a list of the top 8 Banks which are currently operating in Austria: –
1. Erste Group Bank
The Bank is one of the oldest operating in the Austria region. The bank is headquartered in the capital city of Austria. Formed in 1819 the bank currently employs around 45,000+ employees which are present in around 7 countries. The Bank has 3,000+ branches and is one of the largest banks in Austria offers a wide range of financial services in the whole of the European Region. The bank has a Net Interest Income of around 9 mn USD.
2. Raiffeisen Zentral Bank
The bank ranks second in the list after Erste Group Bank as per the total assets owned by the bank. The Bank is also one of the oldest banks operating the region. The Bank was founded in 1927 in Vienna. It has a total employee count of 50,000+ while serving over 17 million customers across the globe. The bank offers various kinds of products which includes wealth management, risk advisory, insurance, and risk mitigation and also provides Investment Banking services will M&A division being the top performer.
3. Unicredit Bank Austria AG
The bank was founded in the year 1885 and is operating in many countries such as Bulgaria, Croatia, Serbia, Russia and most of the European Region. The bank employees 120,000+ employees as of 2016. The banks specialize in the category of Corporate and Investment Banking, it also provides retail banking service to its customers. In 2008, the bank changed its name from Bank Austria Creditanstalt AG to Unicredit Bank Austria AG.
4. Ober Bank AG
Founded in 1869 the bank is also one of the oldest among other banks operating. The bank provides retail banking services and corporate banking. The bank is headquartered in Linz and has a total of 160 branches around the European Region. The bank has an employee strength of over 3,000+ employees.
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5. BAWAG P.S.K
The bank has around 2500 employees in the region and was founded in the year 1922 with headquarters in Vienna. The bank apart from Europe also has a presence in the United Kingdom and the USA. The Bank is currently serving over 2.5 million customers for almost 100 years now.
6. HYPO NOE Gruppe
Founded in the year 1888, the bank operates as one of the regional banks in Austria. The bank offers real estate financing, corporate finance services, transaction advisory services, and treasury services. The bank has an employee strength of around 1000+ staff currently working with a revenue of around 150 billion USD.
7. Raiffeisen-Landesbank Steiermark
The bank was established in the year 1927 and is headquartered in the region of Graz. The bank currently employees 1,000+ employees and is offering various kinds of retail banking services like a savings account. It also provides advisory on private equity investments, capital market services, and treasury method services among various other segments. The bank as in 2017, had a total asset of 11 billion USD.
8. Oesterreichische Kontrollbank AG
The bank was founded in the year 1946 and it provides financial and transactional advisory services in addition to information services to the trading industry. It also provides capital markets services in Austria as well as other regions. The bank currently has a staff strength of 500+ people providing various services. The Bank has around 24 billion USD of total assets as of 2017.
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This has been a guide to Top Banks in Austria. Here we have discussed the top 8 banks in Austria with their structure. You may also look at the following articles to learn more:
