Founded in 1819, Erste Group Bank AG was the first Austrian savings bank. Erste Group is one of the largest financial services providers in Central and Eastern Europe. Erste Group Bank is a universal bank, offering a full range of retail, private, corporate and investment banking products and services to individuals, families, companies and financial institutions.
Erste Group Bank AG is the 2nd largest bank in Austria in terms of total assets. In 2015 its total assets were 60 351,65 mln EUR, providing the bank with the market share of 7.42%. Erste Group Bank AG is the 1st largest savings bank in Austria (out of 48 savings banks) having market share of 41.33% amongst the banks of this category. In 2015 the bank's net income was 214,90 mln EUR.
Erste Group Bank AG is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BBB+ (good credit quality). Long-term credit rating assigned to the bank by Moody's is Baa2 (lower medium grade).
Erste Group Bank AG participates in deposit guarantee scheme of Austria. This scheme covers accounts up to 100 000 EUR per bank per depositor.
Erste Group Bank AG is located in Wien.
|Total Assets (2015)|
|60 351.65 mln EUR (-9.06%)|
In 2015 total assets of Erste Group Bank AG were 60 351.65 mln EUR. Decline compared to the previous period (2014) was -9.06%. The evolution of the total assets of Erste Group Bank AG is shown at Chart 1 below.
Chart 1. Total Assets of Erste Group Bank AG.
Recent changes in total assets of Erste Group Bank AG and its main components are shown in Table 1.
|Loans to customers||14 276.5||13 712.8||-3.95%|
|Loans to banks||19 008.1||18 236.0||-4.06%|
|Bonds and other fixed-income securities||9 631.4||6 004.8||-37.65%|
|Shares and other variable-yield securities||532.7||1 115.0||+109.32%|
|Total Assets||66 366.6||60 351.7||-9.06%|
|Table 1. Recent changes in total assets of Erste Group Bank AG (mln EUR).|
Recent changes in total liabilities of Erste Group Bank AG and its main components are shown in Table 2.
|Bank deposits||19 639.9||4 252.6||-78.35%|
|Customer deposits||4 599.6||17 417.1||+278.67%|
|Total Liabilities||66 366.6||60 351.7||-9.06%|
|Table 2. Recent changes in total liabilities of Erste Group Bank AG (mln EUR).|
|Operating Income (2015)|
|1 328.63 mln EUR (+146.14%)|
|Net Income (2015)|
|214.90 mln EUR (+25.95%)|
Recent changes in gross profit of Erste Group Bank AG and its main components are shown in Table 3.
|Interest Charges||-1 178.2||-1 038.4||-11.86%|
|Interest Income||1 576.2||1 467.1||-6.92%|
|Net Interest Income||398.0||428.7||+7.70%|
|Table 3. Recent changes in gross profit of Erste Group Bank AG (mln EUR).|
In 2015 net income of Erste Group Bank AG was 214.90 mln EUR. Growth compared to the previous period (2013) was 25.95%.
|BBB+ (good credit quality)||Baa2 (lower medium grade)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Erste Group Bank AG is rated by Fitch and Moody's.
Credit ratings assigned to Erste Group Bank AG as of April 2016 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Erste Group Bank AG it is set to BBB+ (good credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Erste Group Bank AG is set to F2 (good short-term credit quality).
|Long-Term Issuer Default Rating||BBB+|
|Short-Term Issuer Default Rating||F2|
|Support Rating Floor||NF|
Viability rating for Erste Group Bank AG is set to bbb+ (good fundamental credit quality); support rating is 5 (there is a possibility of external support, but it cannot be relied upon); support rating floor is NF (no floor; no reasonable presumption of potential support being forthcoming).
Long-term rating for Erste Group Bank AG it is set to Baa2 (lower medium grade). Long-term bank deposit rating is Baa2 (lower medium grade). Bank financial strength rating is ba1. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||Baa2|
|Bank Financial Strength Rating||ba1|
Outlook for the ratings of Erste Group Bank AG is set to positive (may be raised).
|Yes (up to 100 000 EUR per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Austria are obliged to participate in Austrian deposit guarantee scheme.
In the case of Erste Group Bank AG failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||natural persons, legal entities|
|Covered Accounts||all balances on interest-bearing and non-interest bearing accounts|
|Covered Currencies||EEA currencies|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||EUR|
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Erste Group Bank AG and its components are shown in the table below.
|Bank BIC Code||GIBA|
|Country Code||AT (Austria)|
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
MFI ID of Erste Group Bank AG is shown in the table below.
Bank Sort Code is a code that uniquely identifies a financial institution within a country. Bank sort codes are usually assigned by National Central Banks and differ from BIC codes.
|Bank Sort Code||20100|
In Austria the code consists of five digits.
Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.
The following banks operating under Erste Group Bank brand name has been recently closed down: