Robert Holzmann, governor of Austria’s central bank, Oesterreichische Nationalbank, has helped to navigate the country through the global pandemic.

While the past 18 months have had a notable impact on the Austrian economy, the government has largely kept the country on track.

Learning the lessons of the global financial crisis, Austrian banks had built up their balance sheets and tackled bad loans before the pandemic hit.

Austrian banks were early movers into central, eastern and south-eastern Europe. But the traditional Austrian-based parent companies with regional subsidiaries have transformed into modern, integrated entities that bring together staff and technology from across the region, to the benefit of all, says Österreichische Nationalbank governor Ewald Nowotny.

Much has been written about Austria's Heta, the ‘bad bank’ which took on the toxic assets of Hypo Alpe Adria. But what of Addiko, which was created from the good parts of its south-eastern European network? Stefanie Linhardt investigates.

After a scare from the European Central Bank, Austria’s Volksbanken banking consortium has pursued an ambitious strategy of streamlining and consolidation with the aim of returning to profitability and repaying €300m in state aid 

Hypo Alpe Adria – now known as Heta – is a 'bad bank' from the Austrian region of Carinthia that is the first to be wound down according to the EU's Bank Recovery and Resolution Directive. Stefanie Linhardt assesses the situation and looks at who the winners and losers will be.

Austria is dealing with the same digitalisation and profitability issues as the rest of the eurozone, but insiders are confident the enforced upheaval in the country’s banking sector will have positive long-term benefits.

Having shed two of its assets – the exchanges of Budapest and Ljubljana – the CEE Stock Exchange Group, with owner Vienna Stock Exchange at the helm, is steering a new strategic course. Its aim, as Stefanie Linhardt reports, is to become a leading service provider for central and eastern Europe's exchanges.