<b>Erste Bank: retail leader by organic growth</b>

January 01, 1999

Headline: Erste Bank: retail leader by organic growth
Source: Euromoney
Date: September 2001







Wenceslas looks out on a country full of foreign banks

Although large local corporates have commanded the attentions of most western banks, Austria’s Erste Bank is aiming its regional expansion at a less coveted market, but one it believes may have greater potential. By targeting consumers of retail banking services, Erste Bank is playing to its core strengths while developing a distribution network that is among the largest in the region.

Almost immediately following its formation some four years ago when Erste Bank and GiroCredit Bank merged to form Austria’s second-biggest bank, Erste Bank has aggressively built up operational size and scale in central and eastern Europe.

And despite the fact that Erste Bank was not among the early entrants – such as domestic competitors RZB and Bank Austria/Creditanstalt – the retail focus has enabled it to do so largely in a vacuum.

“We are not latecomers, but front-runners,” says Erste’s spokesman in Vienna. “Back in 1997, there were no western banks focused on retail banking. When we acquired Slovak Sporitelna, there were no other banks involved in the bidding process.

<b>Erste Bank: retail leader by organic growth</b>

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