Activity in Central and Eastern-Europe
Bank Austria has a long tradition of operations in central and eastern Europe. After outbreak of world war I, foreign affiliates of the Creditanstalt and the Länderbank had to be abandoned. In 1975, Creditanstalt became the first western-bank to opened an office in Budapest. In 1997, activities of Creditanstalt and Bank Austria in the region were brought under the umbrella of a new holding company, Bank Austria Creditanstalt International. It was expanded to all foreign activities, with the exception of the Russian banks, a year later.
A great deal of Bank Austria's turnover is made in central and eastern Europe. The UniCredit network in the region includes 3.800 offices in 19 countries and about 71.000 employees.
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Famous quotes containing the words activity and/or central:
“In communist society, where nobody has one exclusive sphere of activity but each can become accomplished in any branch he wishes, society regulates the general production and thus makes it possible for me to do one thing today and another tomorrow, to hunt in the morning, fish in the afternoon, rear cattle in the evening, criticize after dinner, just as I have a mind, without ever becoming hunter, fisherman, shepherd or critic.”
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