History

Bank Burgenland is a regional bank and emerged in 1991 from the merger of Eisenstädter Bank, founded in 1872 under the honorary presidency of Count Nikolaus Esterhazy, and Landeshypothekenbank für das Burgenland, founded in 1928. Following this merger, the corporate name was changed to EB and HYPO-BANK BURGENLAND.

As a mortgage bank, the bank that resulted from the merger is a member of the Association of Austrian Mortgage Banks. The constant expansion of the scope of business kept pace with the development of the Burgenland and its municipalities, with the region’s economy and with the rise in the population’s living standards.

Privatisation

As part of the privatisation drive of the main shareholder, the State of Burgenland, in 2005 the company was merged into EB & HYPO Vermögensverwaltungs AG, while the company name was changed to HYPO-BANK BURGENLAND Aktiengesellschaft.

At the same time, the company was delisted from the Vienna Stock Exchange, so that the State of Burgenland held 100% of the shares of HYPO-BANK BURGENLAND Aktiengesellschaft.

In 2006 Bank Burgenland was privatised.

On 5 March 2006 the representatives of the government of the State of Burgenland announced the unanimous decision to sell HYPO-BANK Burgenland Aktiengesellschaft to Grazer Wechselseitige Versicherung AG (“GRAWE”).

At closing on 12 May 2006, Bank Burgenland became a member of the GRAWE Group.

Expansion eastwards

In 2003, Sopron Bank was founded as a 100% subsidiary of Bank Burgenland in Sopron, some 15 km from Eisenstadt. Since then the Hungarian subsidiary has been caring mainly for small and medium enterprises as well as for private customers in western Hungary and Budapest. Sopron Bank currently employs some 160 people.

In 2008, the banking subsidiaries of the GRAWE Group were reorganised into a banking group with HYPO-BANK BURGENLAND Aktiengesellschaft at its head.

The banking group follows a multi-brand strategy and offers a wide range of business areas. As a universal bank, Bank Burgenland’s core areas include private customers, SMEs and corporate customers. With the integration of Capital Bank - GRAWE Gruppe AG, the business areas private banking, investment banking and asset management were added.

The reorganisation of the banking group sustainably enables the expansion of business and quality synergies as well as improved revenue quality through diversification. Furthermore, the competitive and success factors and equity capital were greatly improved.