Banks in Austria – an Overview

Since Austria is one of the wealthiest countries in the Euro area, it is expected that its banking system has been doing incredibly well.

Let us look at two specific indicators that prove Austria’s banking system strong.

The returns on assets for Austrian banking system for the last six quarters till the first quarter of 2017 are 0.6%, 0.5%, 0.6%, 0.6%, 0.6%, and 0.7% (first quarter, 2017) respectively. And, along with that the cost to income ratios for the last six quarters till the first quarter of 2017 are 62.8%, 72.7%, 72%, 71.2%, 74.5%, and 70% (first quarter, 2017) respectively.

Structure of Banks in Austria

One of the most noteworthy things about Austria’s banking system is the structure of Austrian banks. The Austrian banks have been sorted into trade associations for historical reasons but organized as per the sectors.

  • Single-tier: Joint-stock banks, specialized credit institutions, mortgage banks, and housing construction banks are single-tier.Two-tier: Volksbanken and savings banks are two-tier.Three-tier: Only Raiffeisen banks are three-tier.

Top 10 Banks in Austria

Here is the list of the top 10 Austrian banks as per the total assets. Note that the list is updated as per the data for 2019: –

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#1.  Erste Group Bank:

This bank is the topmost bank in Austria as per the total assetsTotal AssetsTotal Assets is the sum of a company’s current and noncurrent assets. Total assets also equals to the sum of total liabilities and total shareholder funds. Total Assets = Liabilities + Shareholder Equityread more owned, i.e., €245.7 billion. Erste Group Bank is one of the oldest banks in Austria. It was founded in the year 1819. This bank has employed over 47,284 employees and served over 15.7 million clients around the globe. Erste Group Bank also has a global presence in 7 countries globally. They are also the largest service providers in Eastern and Central Europe. Their current market capitalizationMarket CapitalizationMarket capitalization is the market value of a company’s outstanding shares. It is computed as the product of the total number of outstanding shares and the price of each share.read more is €15.68 billion.

#2. Raiffeisen Zentralbank (RZB Group):

This bank takes the second position in the overall rating as the top bank per the total asset owned. RZB Group’s total assets are €152.2 billion. RZB Group is the second-largest bank in Austria. It was founded in 1927 in Vienna. It has 47,000 employees, serving 16 million clients worldwide. Their expertise is in asset managementAsset ManagementAsset management is a method of managing funds and investing in both traditional and specialized products in order to generate returns consistent with the investor’s risk tolerance. read more, mergers & acquisitionsAcquisitionsAcquisition refers to the strategic move of one company buying another company by acquiring major stakes of the firm. Usually, companies acquire an existing business to share its customer base, operations and market presence. It is one of the popular ways of business expansion.read more, and leasing.

#3. UniCredit Bank Austria AG:

This bank takes the third position in the overall rating as the top bank per the total asset owned. UniCredit Bank Austria AG’s total assets are €101.66 billion. It was founded in 1991 and came under UniCredit in 2005. It has 7,700 employees working for them, and they serve its customers in over 162 branches. Their headquarters are in Vienna. This bank has a global reach in many countries, including Bulgaria, Croatia, the Czech Republic, Hungary, Bosnia, Russia, Serbia, Turkey, etc.

#4. BAWAG P.S.K.:

This bank has taken the fourth position as per the total assets owned. BAWAG P.S.K.’s total assets are €45.66 billion. It was founded in 1922, and the headquarters are in Vienna. They have employed 1,200 employees, and they have been serving 2.3 million customers for almost 130 years. BAWAG Group is one of Austria’s largest banks. It has been operating in Austria, Germany, France, the United Kingdom, and the United States.

#5. Raiffeisenlandesbank Oberosterreich:

This bank is the fifth-largest bank in Austria per the total assets. Oberosterreich’s total assets are €37.2 billion. It has 17 branches that assist many small and medium-sized enterprises. In addition, this bank has been serving over 80,000 private customers. This bank specializes in corporate banking, retail banking, private banking, and investor relations.

#6. Osterreichische Kontrollbank AG:

This bank stands in the sixth position as per the total assets owned. The total assets held by this bank are €33,352 billion. It was founded in 1946. The headquarters of this bank is in Vienna. Osterreichische Kontrollbank AG specializes in capital marketCapital MarketA capital market is a place where buyers and sellers interact and trade financial securities such as debentures, stocks, debt instruments, bonds, and derivative instruments such as futures, options, swaps, and exchange-traded funds (ETFs). There are two kinds of markets: primary markets and secondary markets.read more services and export services. This special-purpose bank is specifically built for export services and international matters. Around 505 employees work in this bank.

#7. Raiffeisenlandesbank Niederoesterreich-Wien AG:

This bank stands at number seven as per the total assets owned by banks in Austria. The total assets held by this bank are €28 billion. This bank is comparatively old. It was founded in 1898. The headquarters of this bank is in Vienna. This bank is one of the biggest commercial banks in Austria. It offers various products like deposits, loansLoansA loan is a vehicle for credit in which a lender will give a sum of money to a borrower or borrowing entity in exchange for future repayment.read more, cash managementCash ManagementCash Management refers to the appropriate collection, handling, & disbursement of cash for ensuring financial stability & avoiding insolvency risk. read more solutions and project financeFinanceFinance is a broad term that essentially refers to money management or channeling money for various purposes.read more.

#8. Oberbank AG:

This bank has taken the eighth position as per the total assets owned by banks in Austria. Oberbank AG’s total assets are €22,829 billion. It is one of the oldest banks in Austria, founded in 1869. This bank has a presence all over Europe and supports the local customers of Austria, Germany, Hungary, Slovakia, and the Czech Republic. Oberbank AG is very careful about investing. They only invest when there are long-term perspectives and great returns. The bank has employed over 2,155 employees.

#9. HYPO NOE Gruppe:

HYPO NOE Gruppe is in the ninth position in the ranking of banks in Austria as per the total assets owned. The bank’s total assets are € 12267.81 million. It is again another oldest bank in Austria, founded in 1888. The State of Lower Austria fully owned it. The motto of this bank is to ensure closeness to customers and maintain sustainability in its approach. It has 27 branches in Vienna and Lower Austria. This bank specializes in public finance Public FinancePublic finance is the management of the country’s public funds through revenue, expenditure, and reserves, and it generally includes the management of tax collection, expenditures, the annual national budget, deficits, and surpluses.read more, real estate finance, corporate finance, project financeProject FinanceProject Finance is long-term debt finance offered for large infrastructure projects depending upon their projected cash flows. Moreover, an investor has to form a Special Purpose Vehicle (SPV) to acquire the same. read more, and treasury services.

#10. Raiffeisen-Landesbank Steiermark:

This bank stands tenth in the ranking of top banks in Austria as per the total assets owned – €16.5 million. It was founded in 1927 and comprised nine branch offices in Graz and 1 in Frohnleiten. The primary focus of this bank is industrial, corporate, and large-scale customers. The main markets of this bank are in Southern and Eastern Europe. Around 896 employees work here.

We hope you liked this guide to the top 10 Banks in Austria. We discuss the overview of the top banks in Austria, their structure, and their financial status. If you are looking forward to making a career in banking, then you can check out some of the awesome resources: –

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