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Erste Group
Erste Group Bank AG (shortened version Erste Group) is an Austrian financial service provider. It is one of the largest financial service providers in Central and Eastern Europe serving more than 16 million clients in over 2,000 branches in seven countries. Erste Group is headquartered in Vienna and operates as a universal bank.
Erste Group is the central entity of the Sparkassengruppe Österreich (Austrian Savings Banks Group) and the Österreichischer Sparkassenverband. It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. The main shareholder of Erste Group is the non-profit ERSTE Foundation.
In 1997, Erste Group went public and today the company is listed on the exchanges of Vienna, Prague and Bucharest and included in the indices CEETX, ATX and PX.
The origins of Erste Group are in the founding of the Erste österreichische Spar-Casse in October 1819 in Leopoldstadt, a suburb of Vienna.
The IPO in Vienna in 1997 was conducted under the unified Erste Bank, which also handled subsequent capital increases until 2006. Some of these transactions were the largest of their kind ever executed in Vienna's financial market. The capital raised was used to finance Erste Bank's acquisitions in Central and Eastern Europe.
On 9 August 2008, the former Erste Bank Oesterreich was split up into the newly founded holding company Erste Group Bank AG and the subsidiary Erste Bank der österreichischen Sparkassen AG; the foreign subsidiaries were taken over by the new holding company. From then on, Erste Group included all companies of the group.
In 1996, Salzburger Sparkasse was incorporated into the banking group. Shortly before the turn of the millennium, Sparkasse Oberösterreich took over all Upper Austrian branches from Erste Bank, whereupon 26% of the shares in the now largest federal state savings bank were gained. In 2000, Erste Bank acquired a 25% stake in the Steiermärkische Sparkasse. In December 2001, 51% of the Tiroler Sparkasse was obtained. In October 2007, shares in Bausparkasse der österreichischen Sparkassen were purchased; in 2021, the remaining shares were acquired.
In 2021, the Erste Bank Group still held 39.19% of the shares in Sparkasse Oberösterreich. By the beginning of 2024, the shares had fallen to 16.84%.
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Erste Group
Erste Group Bank AG (shortened version Erste Group) is an Austrian financial service provider. It is one of the largest financial service providers in Central and Eastern Europe serving more than 16 million clients in over 2,000 branches in seven countries. Erste Group is headquartered in Vienna and operates as a universal bank.
Erste Group is the central entity of the Sparkassengruppe Österreich (Austrian Savings Banks Group) and the Österreichischer Sparkassenverband. It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. The main shareholder of Erste Group is the non-profit ERSTE Foundation.
In 1997, Erste Group went public and today the company is listed on the exchanges of Vienna, Prague and Bucharest and included in the indices CEETX, ATX and PX.
The origins of Erste Group are in the founding of the Erste österreichische Spar-Casse in October 1819 in Leopoldstadt, a suburb of Vienna.
The IPO in Vienna in 1997 was conducted under the unified Erste Bank, which also handled subsequent capital increases until 2006. Some of these transactions were the largest of their kind ever executed in Vienna's financial market. The capital raised was used to finance Erste Bank's acquisitions in Central and Eastern Europe.
On 9 August 2008, the former Erste Bank Oesterreich was split up into the newly founded holding company Erste Group Bank AG and the subsidiary Erste Bank der österreichischen Sparkassen AG; the foreign subsidiaries were taken over by the new holding company. From then on, Erste Group included all companies of the group.
In 1996, Salzburger Sparkasse was incorporated into the banking group. Shortly before the turn of the millennium, Sparkasse Oberösterreich took over all Upper Austrian branches from Erste Bank, whereupon 26% of the shares in the now largest federal state savings bank were gained. In 2000, Erste Bank acquired a 25% stake in the Steiermärkische Sparkasse. In December 2001, 51% of the Tiroler Sparkasse was obtained. In October 2007, shares in Bausparkasse der österreichischen Sparkassen were purchased; in 2021, the remaining shares were acquired.
In 2021, the Erste Bank Group still held 39.19% of the shares in Sparkasse Oberösterreich. By the beginning of 2024, the shares had fallen to 16.84%.