!!!GiroCredit Bank AG der Sparkassen

Giro Credit Bank AG der Sparkassen was established in 1992, when the 
banks Girozentrale, Bank der oesterreichischen Sparkassen AG and 
Oesterreichische  Credit Institut AG merged, with a balance sheet 
total of 396 billion ATS (December 31, 1996). It is now one of the 
biggest banks in Austria. In 1994 the Anteilsverwaltung 
Zentralsparkasse (AZU) acquired more than 50% of the bank´s 
shares. The AZU also acquired the majority of the shares of  Bank 
Austria AG. A number of activities of both Girokredit AG der 
oesterreichischen Sparkassen and Bank Austria, such as investment 
banking and property management, have been spun off to jointly-held 
subsidiary companies. In 1997 Girokredit AG der oesterreichischen 
Sparkassen was sold and merged with Erste oesterreichische Spar-Casse 
Bank AG ( Erste oesterreichische Spar-Casse) to form  Erste Bank der 
oesterreichischen Sparkassen AG.


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