Creditanstalt-Bankverein AG, CA#
Creditanstalt-Bankverein AG, CA, founded in 1855 under the name K. k. "Oesterreichische Credit-Anstalt fuer Handel und Gewerbe" (Austrian Credit Institute for Trade and Industry), under the leadership of the House of Rothschild, became the largest bank of the Austro-Hungarian monarchy. In 1926 it took over the "Anglo-Austrian Bank" and in 1929 the Allgemeine Oesterreichische Bodencreditanstalt (General Austrian Land Credit Bank). When these transactions, together with the beginning of the Great Depression, proved too much for the CA, it was financially restored in 1931 in a common effort by the Austrian Republic, the Austrian National Bank and the House of Rothschild and merged with the Wiener Bankverein in 1934. Subsequently the bank was called "Oesterreichische Creditanstalt-Wiener Bankverein" (Austrian Credit Institute-Vienna Bank Association). In 1938 the majority of shares was transferred first to a holding company of the German Reich, then to the Deutsche Bank; numerous interests in industries had to be ceded; in 1939 its name was changed to "Creditanstalt-Bankverein".
In 1946 the interests of the CA were conveyed to the Republic of Austria, as provided by the first nationalisation law ( Nationalisation), from 1956-1957 40 % of the capital was sold to private investors by issuing ordinary and preference shares, from 1964 more emphasis was laid on business activities with private customers (personal loans). In the mid-1970s the CA for the first time ranked among the 100 largest banks in the world; in 1980 it opened its Technical Centre in Vienna. In the 1980s branches were opened in London, New York and Hong Kong. In 1987 the public interest was reduced to 51 %.
Since the early 1990s stronger representation in the reform countries of Central and Eastern Europe has been the bank's new focus in foreign activities. In 1996 the CA had 81 branches abroad and over 255 at home as well as numerous representative and subsidiary banks. The balance sheet total amounted to ATS 687.6 billion, staff: 9,845.
The industrial group of the CA, after 1945 one of Austria´s largest, was largely re-structured and re-organised from the 1970s. In 1996, the CA held interests in industry, trade and in the service sector, such as Semperit AG Holding, Steyr-Daimler-Puch AG, Universale Baugesellschaft AG, Wienerberger Baustoffindustrie AG, Donau Chemie AG, etc.
In 1991 the Minister of Finance was legally empowered to sell the shares of the Republic of Austria, which were taken over by Bank Austria AG in 1997. By 1998 Bank Austria had acquired further shares and had all shares turned into Bank Austria shares. In 1998 restructuring to form the Bank Austria group took place, with the Creditanstalt AG and Bank Austria Creditanstalt International AG as 100% subsidiaries of Bank Austria AG. The affiliated companies of what had been the CA remained with Creditanstalt AG.