!!!Bank Austria AG

Bank Austria AG, created in 1991 by a merger of Zentralsparkasse and 
Kommerzialbank AG (Vienna) and Oesterreichische Laenderbank AG. The 
first was founded by decision of the municipal council of Vienna in 
1905. Regular operation commenced on January 1, 1907. Over the years, 
the institute has become the largest of Austria´s  savings 
banks.

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The Oesterreichische Laenderbank AG was founded in 1880 as a 
subsidiary of a financial institution domiciled in Paris, France. Only 
2 years later the bank became independent of its Paris head office and 
was transformed into an Austrian enterprise.

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Bank Austria AG has branch offices in all major European financial 
centres, even before it took over the  Creditanstalt-Bankverein AG it 
featured among Europe´s 50 largest financial institutions and 
among the 130 largest financial institutions in the world. The bank 
had around 300 branch offices all over Austria employing 8,700 staff 
in 1996. The balance sheet total was ATS 742.35 thousand million. in 
1996. In 1997 Bank Austria AG took over the majority of shares 
(51 %) of the Creditanstalt-Bankverein AG from the Republic of 
Austria and was sole proprietor until 1998. Since the subsequent 
restructuring the Bank Austria Group has consisted of Bank Austria AG 
and its wholly-owned subsidiaries  Creditanstalt AG (CA) and the newly 
established Bank Austria Creditanstalt International AG, which is 
mainly responsible for the group's foreign business and is active in 
33 countries with a focus on Central and Eastern Europe; it also 
carries out business on the financial centres of the European Union, 
Switzerland, the USA, South America and Asia.

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The Bank Austria AG is one of the 35 largest in Europe; in 1999 the 
group had approx. 500 branches in Austria with a staff of 14,000, of 
these 200 were Creditanstalt branches with 6,000 employees. Balance 
sheet total for 1998: ATS 1,646.5 bn.

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Due to its structure, the know-how of Bank Austria AG is not limited 
to the financial services industry. It has a large number of 
subsidiaries and interests in industrial and commercial firms as well 
as in tourism. G.  Randa has been managing director of Bank Austria AG 
since 1995.


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