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Austria

Basics
Banks
Dodgy Deals
Companies

Banking landscape

Austria's market economy is closely tied to its European neighbours, especially Germany, and like Germany, its economy fared reasonably well during the financial crisis (e.g. the country now has the lowest level of unemployment in the EU). Its largest banks have spread their influence eastwards, to become major forces in Central and Eastern Europe (CEE), and Austrian banks are present in, inter alia, Albania, Bosnia-Herzegovina, Bulgaria, Belarus, Serbia, Montenegro, the Czech Republic, Croatia, Hungary, Poland, Romania, Russia, Slovenia, Slovakia and the Ukraine.

The Austrian banking sector can be divided into 7 subsectors: private banks, savings banks, state mortgage banks, Raiffeisen credit cooperatives, Volksbanken credit cooperatives, building and loan associations and special purpose banks. The biggest sectors are the private banks, the Raiffeisen credit cooperatives and the savings banks (Source: EBF).

The largest banks in Austria are Erste Group, Unicredit Bank Austria and RZB Group. Erste Group is Austria's largest by assets. UniCredit Bank Austria (usually known simply as Bank Austria) is 96.35% owned by the Italian UniCredit Group. RZB Group, or Raiffeisen Zentralbank Group, is 87.70% owned by R-Landesbanken-Beteiligung GmbH, which in turn is owned by the nine Austrian Raiffeisen regional banks. All three have extensive operations across the CEE region.

During the financial crisis, three midsized Austrian banks, Hypo Alpe Adria, Kommunalkredit and Osterreichische Volksbanken required government bail-outs, and the Austrian government also took stakes in Erste Group and RZB (Source: FT). In 2010 the government introduced a new bank tax to help recoup the costs of the bail-outs.

Bank regulation

Austria has two regulatory bodies for the financial industry: the central bank, Oesterreichische Nationalbank (OeNB) and the Austrian Financial Market Authority (FMA). The FMA is an is responsible for supervising the financial sector as a whole, including banks, insurance companies, financial conglomerates, pension funds and the Vienna stock exchange.

The FMA and the OeNB have joint responsibility for the supervision of banks. According to the OeNB, it is responsible for fact finding, while the FMA is responsible for decision-making, using information provided by the OeNB in thr course of its work. For further information see the Central Bank's leaflet: How are banks supervised in Austria?

Austria

Population: 8,221,646 (July 2013 est.)

GDP: $364.9 billion (ppp, 2012 est.)


working partners
Erste Group Bank AG
Erste Bank was founded as the “Erste Oesterreichische Spar-Casse” in 1819. Erste Group is one of the largest financial services providers in Central and Eastern…
Raiffeisen Zentralbank (RZB)
Raiffeisen Zentralbank Österreich AG is the central institution of the Raiffeisen Banking Group Austria (RBG) and also functions as the group centre for the entire RZB…
UniCredit
The UniCredit Group is the result of the merger of nine of Italy's largest banks and the subsequent combination with the German HVB Group and the Italian Capitalia Group.…

Austria

Population: 8,221,646 (July 2013 est.)

GDP: $364.9 billion (ppp, 2012 est.)


working partners
Dodgy Deals abroad financed by banks from Austria
Mochovce nuclear power plant (units 3 & 4)
Slovakia
co financed by Erste Bank, Raiffeisen Zentralbank Austria AG
The building of Slovakia's Mochovce 3 and 4 nuclear reactors is the longest running nuclear construction project anywhere in Europe. The reactors were designed by the Soviet…
Tufanbeyli coal power plant
Turkey
co financed by Erste Bank, Raiffeisenbank International Group
Enerjisa, the Turkish electricity producer owned by E.ON and Sabanci, is building a new coal power plant in Tufanbeyli, commonly known as Enerjisa 2.5. The lignite-fired…
Mountain top removal coal mining
United States
co financed by Raiffeisen Zentralbank Austria AG
Mountain top removal (MTR) mining is a form of strip mining in which coal companies use explosives to blast as much as 800 to 1,000 feet off the tops of mountains order to…
Punta Catalina-Hatillo coal power project
Dominican Republic
co financed by
Punta Catalina Power Central, also known as the Hatillo power station, is a 770 megawatt coal-fired power plant under construction in Punta Catalina-Hatillo, Azua in the…
SOCAR Aegean Refinery
Turkey
co financed by
The owner and operator of the Aegean Refinery is STAR Rafineri A.S. ("STAR") a joint stock company incorporated under the laws of Turkey. The joint venture is now 81.5% owned…
TES 6 coal power plant
Slovenia
co financed by Kommunalkredit Austria
Šoštanj in North Slovenia, 30 kilometres from the Austrian border, is the location of an existing lignite-fired power plant, Termoelektrarna Šoštanj…
check dodgy deals on record

Austria

Population: 8,221,646 (July 2013 est.)

GDP: $364.9 billion (ppp, 2012 est.)


working partners
Companies located in Austria
Andritz
Austria
The Andritz Group has developed into a globally present market leader for customized plant, systems and services for specialized industries - mainly for hydropower, the pulp…
Companies abroad financed by banks from Austria
DTEK
Ukraine
co financed by Erste Bank, Raiffeisen Zentralbank Austria AG
DTEK is an Ukranian energy holding company. It is the largest private vertically integrated energy holding in Ukraine. It was established in 2005 and is an association of…
EPH
Czech Republic
co financed by Erste Bank, Oberbank, Raiffeisenbank International Group
EPH (Energetický a Průmyslový Holding) is a Czech Republic based company currently investing mainly in the energy sector in Central Europe. The group's business…
Glencore
Switzerland
co financed by Raiffeisen Zentralbank Austria AG
Glencore plc (formerly Glencore Xstrata) is an Anglo-Swiss multinational commodity trading and mining company. The company was created through a merger of Glencore with Xstrata…
Sime Darby
Malaysia
co financed by Raiffeisen Zentralbank Austria AG
Sime Darby is a Malaysian multinational conglomerate that has operations in the plantations, property, healthcare, the energy and utilities sector. It was founded in 1910…
Anglo American
United Kingdom
co financed by
Anglo American is a British multinational mining company headquartered in London, United Kingdom. It is the world's largest producer of platinum, with around 40% of world…
Arch Coal
United States
co financed by
Arch Coal is an American coal mining and processing company. The company mines, processes, and markets bituminous and sub-bituminous coal with low sulfur content in the United…
Areva
France
co financed by
Created in 2001 and 90% owned by the French state, this multinational conglomerate boasts of interests in every aspect of nuclear power from uranium mining to nuclear fuel…
BHP Billiton
Australia
co financed by
BHP Billiton is the world's largest mining company. It occupies significant positions in major commodity businesses, including aluminium, energy coal and metallurgical coal,…
EDF
France
co financed by
Like its rival and fellow French multinational AREVA, Électricité de France (EDF) is one of the biggest players in the global energy game. In fact, with more…
Enel
Italy
co financed by
Enel is Italy's largest power company and Europe's second largest according to its generating capacity. Its interests stretch beyond Italy to 40 countries on four continents.…
ENGIE
France
co financed by
ENGIE (known as GDF SUEZ until April 2015) is the largest independent power producer in the world. In 2013 it operated 600 power plants worldwide. It had 113.7 GW of installed…
ESKOM
South Africa
co financed by
Eskom is the world's eleventh-largest power utility in terms of generating capacity and ranks ninth in terms of sales. In 2011 it had an installed generating capacity of…
Rio Tinto
Australia
co financed by
Rio Tinto is a mining and exploration company involved in each stage of metal and mineral production and processing. Rio Tinto is one of the largest publicly listed mining…
RWE
Germany
co financed by
RWE is Europe's second largest electricity generator and one of Europe's five leading gas and electricity companies. Founded in 1898, the company is active in the generation,…
check company profiles on record

Austria

Population: 8,221,646 (July 2013 est.)

GDP: $364.9 billion (ppp, 2012 est.)


working partners
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