Austria boasts a robust banking system with domestic and international banks operating throughout its territory. Austria’s biggest banks are key components of the Austrian finance industry, providing services to individuals and businesses.
Austria’s biggest banks include:
10. Bankhaus Schelhammer & Schattera AG
Based out of Austria, Bankhaus Schelhammer & Schattera AG provides a range of banking and financial services. Established in 1832, this private bank has served individuals, businesses, and institutions for over 180 years.
The bank specializes in private banking, asset management, and investment banking services for individuals and institutions alike. Their product offerings include mutual funds, individual stocks, bonds, and alternative investments like private equity and real estate investments. In addition, structured products and advisory services are also provided.
Bankhaus Schelhammer & Schattera AG has used new technologies to expand its banking offerings to its clients by offering online and mobile banking. Their online banking platform gives access to their accounts and allows clients to manage investments, transfer funds, and more.
Bankhaus Schelhammer & Schattera AG takes great pride in the personalized service it offers its clients and their unique needs. Their staff members have extensive experience within the financial industry and work directly with clients to provide expert guidance and advice.
9. Hypo Tirol Bank AG
Hypo Tirol Bank AG, founded in 1901 in Innsbruck, Austria, is a regional bank offering banking services to individuals, small- to mid-sized businesses, public sector entities, and others in its region. Since it opened for business, it has expanded significantly, becoming one of the biggest banks in its area. Offering savings accounts, loans, mortgages, investments, and insurance alongside savings accounts, these financial services cater to an extensive variety of individual customers and medium-sized businesses.
Hypo Tirol Bank AG operates over 50 branches throughout Austria’s Tyrol region and offers online banking services to meet client needs. Their emphasis on customer service, long-term client relationships, and social responsibility make for a desirable presence within local communities where Hypo Tirol operates.
8. Bank fur Tirol und Vorarlberg AG (BTV)
Bank fur Tirol und Vorarlberg AG (BTV) is an Austrian bank founded in 1904 that offers retail and commercial banking services. Headquartered in Innsbruck, BTV maintains an extensive presence across the Tyrol and Vorarlberg regions of Austria while offering deposit accounts, loans, mortgages, credit cards, investment services, and many other financial products and services to its clients.
BTV Bank prides itself on offering personalized services to its customers and has over 40 branches and offices in the region. Furthermore, its online and mobile banking services allow customers to manage their finances online by giving access to accounts or managing finances anytime, anywhere.
BTV provides traditional banking services, wealth management, and investment advisory services through its subsidiary BTV Vier Lander Bank. This includes investment consulting, asset management, and financial planning. BTV Vier Lander Bank also emphasizes social responsibility by supporting charitable causes and community initiatives in its service regions.
7. Erste Bank der oesterreichischen Sparkassen AG
Established as one of the first Austrian savings banks in 1819, Erste Bank is today one of the country’s leading banks with over 1,000 branches throughout Austria and an enviable record in customer satisfaction. The bank’s headquarters can be found in Vienna.
Erste Bank provides individuals, businesses, and institutions with various financial products and services, including current and savings accounts, loans, mortgages, credit cards, investment services, and insurance products. In addition, the bank is well known for its dedication to social responsibility initiatives, including green banking and financial education programs.
Erste Bank is one of the leading banks in Central and Eastern Europe, with subsidiaries and branches located throughout Hungary, Romania, Croatia, Serbia, and Slovakia. It is recognized for its innovative sustainable business practices.
6. Osterreichische Postsparkasse AG (PSK)
PSK is a government-owned bank headquartered in Vienna, Austria, established in 1883. One of Austria’s oldest institutions, PSK offers retail banking services across its network of branches nationwide.
PSK provides customers with various banking services, such as checking and savings accounts, credit cards, loans, mortgages, and investment products. In addition, online and mobile banking services are offered for added convenience.
As a state-owned institution, PSK Bank strives to promote financial inclusion and social responsibility by offering banking products and services targeting low-income groups, senior citizens, and people with disabilities. PSK also participates in various community development projects like funding affordable housing or supporting local businesses.
5. Oberbank AG
Oberbank AG is a regional bank headquartered in Linz, Austria, founded in 1869. Since then, it has become one of Austria’s most significant financial institutions, with strong branches also present in Germany and the Czech Republic. It offers services that span retail banking, corporate banking, investment banking, asset management, and more.
Oberbank stands out for its commitment to local businesses and long-standing reputation of tailoring solutions to suit individual customer needs. Their network includes over 150 branches worldwide, with over 2,000 staff employed at Oberbank.
Oberbank greatly emphasizes sustainability and corporate responsibility and has been widely acknowledged for its efforts. They strive to reduce their carbon footprint while raising environmental awareness through various initiatives they have launched supporting these goals. Furthermore, Oberbank participates in community projects and charitable activities and advocates strongly for social responsibility.
4. BAWAG Group AG
BAWAG Group AG is one of Austria’s most prominent banks, established as “Osterreichische Postsparkassen- und Kommunal-Kreditanstalt” in 1922 and since undergoing several name changes and mergers.
BAWAG Group currently provides various financial products and services, such as savings accounts, current accounts, loans, mortgages, credit cards, and investment products. In addition, insurance and wealth management are offered.
BAWAG Group is an innovator in digital banking services for customers across Austria. Operating through an expansive network of branches and ATMs across Austria, their presence has expanded to Germany and Switzerland recently.
BAWAG Group stands out from its competition by offering retail banking services to individuals in Austria and beyond and commercial, corporate, and investment banking services for small and mid-sized enterprises (SMEs), both at home and abroad. BAWAG Group is listed on the Vienna Stock Exchange with excellent financial stability and reliability track record.
3. Raiffeisen Bank International AG
Raiffeisen Bank International AG (RBI) is one of the largest banking groups in Austria, with a significant presence throughout Central and Eastern Europe, having been formed through the merger between Raiffeisen International bankholding AG and Raiffeisen Zentralbank Osterreich AG in 2010. Since then, RBI has had over 2,100 branches and offices spread out across 14 countries, with more than 16 million customers currently served.
RBI’s primary business activities encompass corporate, retail, investment banking, leasing, asset management services, and leasing/asset management lease agreements. RBI offers its customers various financial products and services, such as deposits, loans, payment services, credit cards, investment products, and insurance products.
Recently, RBI has greatly emphasized digitalization and innovation, investing heavily in cutting-edge technologies and creating new digital products and services. Furthermore, the bank is actively involved with sustainable finance activities to advance environmental, social, and governance (ESG) principles in its business endeavors.
RBI is listed on the Vienna Stock Exchange and forms part of its ATX index, which tracks performance amongst the 20 largest listed companies.
2. UniversiCredit Bank Austria AG
UniCredit Bank Austria AG is one of Austria’s premier commercial banks, offering comprehensive financial solutions to retail, corporate, and institutional customers. Established as Creditanstalt in 1855, today, this bank is one of Austria’s biggest lenders.
UniCredit Bank Austria provides its customers with various banking products and services, such as current and savings accounts, credit and debit cards, personal and corporate loans, mortgages, investment products, insurance products, foreign exchange services, and investment products. Furthermore, this bank boasts a strong digital banking offering online and mobile banking to its clients.
As of 2021, UniCredit Bank Austria operates with over 230 branches and 600 ATMs throughout Austria and a presence in 17 other countries. A subsidiary of the UniCredit Group – one of Europe’s premier banking groups – its head office can be found in Vienna.
1. Erste Group Bank AG
Erste Bank is one of the leading financial services providers in Central and Eastern Europe. Established as the first Austrian savings bank in 1819, Erste now provides services to over 16 million customers across seven countries, including Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia Serbia.
Erste Bank offers an expansive array of products and services, such as retail banking services for individuals and small businesses; investment banking; asset management; leasing; insurance; leasing agreements; leasing agreements; insurance products, and more. In particular, Erste Bank stands out by providing savings accounts, checking accounts, loans, credit cards, and investment products specifically targeted toward these populations.
Erste Bank has been recognized for supporting sustainability and responsible banking practices. Over recent years, Erste has implemented measures designed to reduce its carbon footprint, expand renewable energy investments, improve transparency and social responsibility within operations, and enhance transparency.
Banks offer a comprehensive array of banking services, from retail and commercial banking, private banking, wealth management, investment banking, and asset management to retail banking.
Frequently asked questions:
1. What is the largest bank in Austria?
Ans: Erste Group Bank AG is Austria’s most valuable financial institution by total assets.
2. Who are Austria’s oldest banks?
Ans: Oesterreichische Nationalbank (OeNB), one of Austria’s oldest and central banks established in 1816.
3. What services do Austrian banks provide?
Ans: Austrian banks offer their clients various banking products and services, including personal and business banking accounts, investment services, insurance policies, mortgage loans, and loans.
4. Are Austrian banks safe?
Ans: Austrian banks are generally considered secure; most are members of the Austrian Deposit Insurance Scheme, which protects deposits up to certain levels in case of bank failure.
5. Are There Any International Banks In Austria?
Ans: Yes, Austria is home to several international banks, such as UniCredit, Deutsche Bank, and Citibank, that operate here.
