!!!Raiffeisenkassen

Raiffeisenkassen; the first Raiffeisenkasse bank in Austria was 
founded in 1886 in Muehldorf (Lower Austria), and was based upon the 
ideas of the German social reformer, F. W. Raiffeisen 
(1818-1888). In 1898 the 400 Raiffeisenkasse banks in Lower Austria 
formed a central institution (Zentralkasse), and by 1930 their number 
had increased to 564. Today there are 672 local Raiffeisenkasse banks 
with 2,370 branches (as of January 1, 1998) forming the grassroots 
level of the Raiffeisen Bank Group (RBG). The Raiffeisenkasse banks of 
the provinces are joined in voluntary provincial associations 
(Raiffeisenlandesbanken) which are part of the national institution  
Raiffeisen Zentralbank Oesterreich AG. In Austria Raiffeisenkassen 
banks have the densest network of branches (almost 20 % of all 
Austrian bank branches). The clients of the Austrian Raiffeisenkasse 
banks come from all economic sectors (especially trade, tourism, 
agriculture, forestry, salaried employees). In 1997 Raiffeisenkasse 
Bank Group's consolidated balance sheet amounted to ATS 1,029.8 
billion, deposits to ATS 543 billion (market share of 24.9 % in 
Austria). Direct financing amounted to ATS 546 billion (market share 
20.5 %).


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