Erste Österreichische Spar-Casse

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Erste Österreichische Spar-Casse ( 640x480 )
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Erste österreichische Spar-Cass building belongs to the saving bank. It is located on Graben street 21 in Vienna. The building was built in neoclassical style in 1836 and its architect became Alois Pichl.

Erste österreichische Spar-Casse saving bank was founded in 1819 in Vienna and it is the oldest bank in Austria as well as one of the first saving banks on the European continent. In this economically difficult period, after the Napoleonic Wars, under the reign of Franz I, the Emperor encouraged the foundation of a savings bank on the German and English model. The initiation came from Johann Baptist Weber, who was parish priest of St. Leopold (Leopoldstadt). He founded the "Verein der Ersten österreichischen Spar-Casee" ("Association of the First Austrian Savings Bank"). It was opened on 4 October 1819 with the leitmotif of promotion of thrift and planning for the future. This has remained unchanged at its core over the generations right up to the present day. Originally, at its foundation, it was established as non-profiting organization.

Being one of the first saving banks in Europe, it played an important part in the development and extension of saving banking in general. It created the first private social insurance institution in Central Europe in 1825. It was named, the "Allgemeine Versorgungsanstalt für die Unterthanen des österreichischen Kaiserstaats" ("General insurance institution for the subjects of the Austrian Empire").

Similarly, Erste österreichische Spar-Casse played a considerable part in the development of mortgage loans. In 1873 a loan society for financing small businesses was created.

After 1938 (while Austria was occupied by Hitler), the bank was allowed to keep the term Austria in its name despite massive pressure.

Today, it belongs to most significant banks in Austria. Besides Vienna, there are 230 branches all over Austria that serve both private and business customers. It has also some representative abroad, in Brussels, Madrid, Vicenza, London and other cities in the United Kingdom.
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