Central and Eastern Europe (CEE)

“In the most extensive network in Central and Eastern Europe we practise cross-border, intercultural cooperation in the heart of Europe: cooperation within our network is a decisive factor for reaching our targets. As relations between an increasing number of employees in more and more countries are intensifying, we are also taking a major step forward towards a common European corporate culture. We learn from the exchange of cultural and social values, and benefit from this knowledge in our
day-to-day business activities.”

Regina Prehofer, Managing Board member responsible for CEE and International Corporates

Bank Austria Creditanstalt has been active in Central and Eastern Europe for more than 30 years - since the opening of a representative office in Hungary – or more precisely, for more than 150 years, because the bank’s predecessor institutions maintained a presence in this region from the middle of the 19th century onwards. Then as now, our strategy is based on being present where our customers do business. As countries and markets grow together, it is more than ever imperative to have a region-wide presence: local customer business in an international network – Bank Austria Creditanstalt very successfully combines a decentralised service approach and cross-regional management. We take an international approach and act in line with the principle of diversity, giving the creative potential in the various countries room to unfold. We are guided by the “best practice” principle: the best ideas are implemented. Numerous awards confirm Bank Austria Creditanstalt’s success and business model in Central and Eastern Europe (CEE).

Today it is taken for granted in Europe that Poland, the Czech Republic, Slovakia, Hungary and Slovenia are members of the European Union – with Romania, Bulgaria and Croatia next in line for membership. This normality goes hand in hand with even closer economic links and the resulting international division of labour. After international corporates, a growing number of small and medium-sized businesses are also entering these markets and benefiting from the enlarged home market. This process is not a one-way street from the euro area to CEE. An increasing number of companies from CEE successfully sell their products and services in West European markets. All these companies need a single point of contact for their financial transactions – and that is what Bank Austria Creditanstalt offers them with its extensive network in CEE.

Apart from serving corporate customers, and in line with our universal banking strategy, we also strive to reach a top position in retail banking in all countries. Our strategy of pursuing organic growth and growth through acquisitions has proved very successful. In Poland and Bulgaria we are among the top 3 banks, and in five other countries we are among the top 5 in the local banking markets. Economic growth and the rise in purchasing power in all countries lead to strongly growing demand for loans to meet housing and consumer needs including cars, leisure activities and tourism. This benefits not only local markets but also the euro area’s economy.