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(not the official site of Bank of Austria)

Overview

Bank of Austria

Bank Austria is one of the most renowned banks in the world Which is why 

in today’s article, we will talk about the bank itself alongside some critical 

information. Before we get into the topic at hand, let us be transparent and

let you know that this isn’t the official website of Bank Austria. Nonetheless,

we have some useful information on Bank Austria, which may help you in 

making your financial decision.

Holding Leadership Position in Central & Eastern Europe

The official name of Bank Austria is ‘UniCredit Bank Austria AG’. It is part of the pan-European financial powerhouse UniCredit, headquartered in Milan, Italy. The Unicredit group wanted a bank to represent the company in the European Union so they started it at a small level and later it grew larger. According to news, the bank mainly has the Austrian workforce. The bank was established in the late nineteenth century and has passed a few hands before falling into the lap of UniCredit. This bank was not found in Austria. It originated from Italy. The bank posted a topline revenue of €1,941 million in 2019 and has total assets of over €101 billion.

Strong Presence in the Corporate Lending Segment

The strength of the Bank of Austria is in its lending to the corporate sector. The bank counts itself as the second-largest lender to the corporate sector in Continental Europe. In countries in the Central & Eastern European region, the Austrian bank enjoys a leadership position. Starting with Slovakia and going up to Latvia and Estonia on top, you will find Bank of Austria everywhere. Russia, Bulgaria, Czech, Croatia, Bosnia, Hungary, Turkey, and Serbia are countries where the Bank of Austria has operations.

Bank of Austria Claims to Have Controlled NPEs

In their report on their operations for the year 2019, Bank of Austria claims it has been successful in shedding around €50 billion, during the period 2015 to 2019. The bank says as of the end of 2019, the gross NPE ratio is 5% and net NPE ratio of 1.8%. Interestingly, the bank has more than doubled its profit percentage during the same 2015-2019 period, from 4% to 9.2%.

The UniCredit Association Means Italy Contributes to More Business

Bank of Austria is now part of UniCredit which has its headquarters in Italy and since the banking operations are consolidated, the bulk of the business still comes from Italy. It has since moved into a large facility in the Austrian capital of Vienna. There are over 40,000 employees of the bank operating out of this office. Though parent UniCredit boasts of 98 companies and offices in Europe, it has a presence in the other continents as well. Looking at just the numbers, Bank of Austria services around 27 million customers across 20 countries.

Austria has over 600 banking institutions operating in the country. The sector has evolved considerably embracing the latest technology. The numerical strength of branches has lost its meaning as internet banking and mobile apps have proliferated. This has made people access their money and other needs for finance without having to physically contact the bank. The bank has fully adopted these modern ways of banking.

Fleet Management Business Now Acquired by Araval Austria

The bank was in the news recently as the UniCredit’s fleet management business has since been taken over by Araval Austria. The segment has the leasing business as well. The enterprise went by the name UniCredit Leasing Fuhrpark management GmbH. The two entities have entered into an agreement for this. This agreement allows Araval to service the clients of UniCredit Bank of Austria for all their mobility services requirements. The agreement covers a large fleet of 6,000 vehicles.

The Bottomline

In their report on their operations for the year 2019, Bank of Austria claims it has been successful in shedding around €50 billion, during the period 2015 to 2019. The bank says as of the end of 2019, the gross NPE ratio is 5% and net NPE ratio of 1.8%. Interestingly, the bank has more than doubled its profit percentage during the same 2015-2019 period, from 4% to 9.2%.

Note: This is not an official website of the Bank of Austria.

Why Choose

Bank of Austria

Nothing beats a bank that focuses on providing quality services and
products to its extensive client base. Significantly, a bank that pays
attention to an impeccable way to improve its efficiency is great to invest
in. With many changes occurring in the finance industry, it’s wise to
make Bank of Austria your number one choice.

Information

There is a well known Bank in Austria which is usually called the Bank of Austria. As per the full name, it is Unicredit Bank Austria. This Bank is popular among customers and it has more than 3500 branches all over the world. This bank is completely distributed all over the world except for some countries like Poland because of the competition. This is not official website of bank and we are only giving information. You can find the information below.

This bank was not found in Austria. It originated from Italy. The company called Unicredit group is the owner of the bank of Austria. The Unicredit group wanted a bank to represent the company in the European Union so they started it at a small level and later it grew larger. According to news, the bank mainly has the Austrian workforce.

As clearly said that this Bank originally started in Italy and it has many branches all over the world. To be exact the company has more than 3500 branches in more than 19 countries.

This bank has a huge amount of assets. The best bank has more assets as compared to other banks in Austria. In 2015, the revenues were nearly 3 billion euros. This is less as compared to the assets of the bank because the bank has more than 190 billion euros of assets. If assets of a bank are more than revenue, the bank is stable and your money will be safe with the bank.

This bank gives multiple options to the people who want to open a bank account there. They have very special policies for the students because they will make all the services free for the students. Opening a student account is easy in the bank of Austria. You will only need your student enrollment details to open the bank account and keep your money safe.

The second type of account is the youth account and it is for people between the age of 10 and 20. Youth account is for young savers who want to save for their future. It is really easy to open this account also. You just have to be in the right range of the age to open this account.

The third type of account is a basic account. This is the main bank account that everyone uses. This bank account has a fee of 20 euros and it is charged three times a year. This bank account comes with a debit card and a checkbook. There are many other options like phone banking and internet banking. You can manage your money and finance with the mobile banking app. You can also check the app for the latest banking news.

This bank gives amazing facilities for businesses. They allow you to open cross border account. There are a lot of services that include commercial insurance, corporate investing, and business finance. By opening a commercial account in this bank, you will get benefits for all these services. They have special account types for companies and self-employed people. Real estate agents can open special accounts that are specially designed for real estate transaction purposes.

You can visit the official site of the Bank of Austria here: https://www.bankaustria.at/