Austria First Savings Group

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name: Austria First Savings Group

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Erste Group is one of the largest financial service providers in Central and Eastern Europe, focusing on retail and SME banking. The group has more than 50,000 employees, more than 3,200 branches, and its business covers: Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia, Serbia and Ukraine.

The First Austrian Savings Group was established in 1819 as the First Austrian Savings Bank. In 1997, Austria First Savings Group announced a strategic goal to expand its retail business and enter the Central and Eastern European markets.

Since then, Austria’s First Savings Group has begun to merge and expand, and its number of customers has increased from 600,000 to more than 17 million. 95% of customers are citizens of the European Union.

After the Napoleonic Wars, Austria experienced many years of economic crisis. The Austrian Emperor Francis I proposed to create a savings bank based on the German and British models. The priest John Baptist of Leopold City also strongly agreed with this idea. In 1819, John the Baptist Weber founded the First Austrian Savings Bank Association, and on October 4, 1819, the First Austrian Savings Bank was founded.

After the Second World War, Austria began to rebuild and brought new opportunities to the Austrian First Savings Group. The private payment system began to develop, the development of state-sponsored savings plans, the development of investment financing, export support or the development of credit by private institutions.

Austria First Savings Group is headquartered in Vienna, Austria. In fiscal year 2011, operating income was 74.785 billion euros, total assets were 2100.06 billion euros, total equity was 12 billion euros, and there were 50,452 employees.

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