ANK AUSTRIA CREDITANSTALT
In a region where a dozen foreign banks dominate the banking markets, stretching from the Baltic states to south-east Europe, Bank Austria Creditanstalt (BA-CA) continues not only to expand its diverse network across more countries than any other bank, but also produces strong profits. Together with its parent HVB Group, BA-CA is present in 16 countries and has 900 branches serving 4.1 million customers. The profit before taxes of its CEE subsidiaries rose from €280m to E320m, up 14% in 2003, and profits from CEE activities are reported up 87% in the first half of 2004. The return on equity from the CEE reached 17.3% in 2003. While the possibilities for acquisitions in the region are now scarce, BA-CA managed purchases in Bosnia, Croatia and the Czech Republic and opened 28 new branches across seven countries. Also the successful IPO in summer 2003, raising €1.5bn, provides BA-CA with enhanced firepower for further expansion in the region. At present the bank’s market share in the region is up to 10% and it has combined total assets across CEE of €23bn. The BA-CA network now provides an extensive range of financial services from retail to corporate, a one-stop shop unmatched across the region.
