First Bank

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Erste Bank (Erste Bank der oesterreichische Sparkassen AG) - bank w Austrii.

Erste is a joint stock company which became a successor to the Savings Bank established in Vienna in 1819 under the name Erste österreichische Spar-Casse. In the 1980s, and in particular since 1990, the company has expanded its activities beyond the boundaries of its original market.

Initially the company was operating under the name of "Die Erste Österreichische Spar-Casse-Bank AG". In May 1997, it repurchased 53% of GiroCredit Bank der österreichischen Sparkassen AG, which acted as a leading company for savings banks. GiroCredit and Erste were merged and Erste Bank changed its name to Erste Bank der österreichischen Sparkassen AG. After the merger in October 1997, Erste took over as lead company for approximately 70 savings banks existing in Austria during this time.

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