First Erste Bank Branch Office Opened in Vienna 90 Years Ago

Erste Bank was founded in 1819 and in the first several years its domicile was in the parish chancery of St. Leopold's Church in Vienna's second district. In 1825 its headquarters were moved to the well-known address 21 Graben.

First branch offices open in January 1927

Until 1927 there existed no branch offices apart from the head office. The first branch offices in the city were only opened in January 1927 at 60 Mariahilfer Strasse and 4 Hietzinger Hauptstrasse. Branch offices at two further locations in Brunnengasse and Waehringer Strasse followed shortly thereafter. An important factor driving the branch office program was the World Savings Day of 1925, which triggered a savings boom in Vienna. Moreover, other banks also began to establish branch offices in various districts of the city as extensions of their head offices. Until the early 1960s, 30 additional Erste Bank branch offices were opened. Furthermore, all existing branch offices were gradually remodelled, expanded or shifted to new locations.

Dynamic development

Since then the branch office network has developed dynamically, always expanding into areas in which the bank's customers are located. Thomas Schaufler, chief retail officer of Erste Bank, is convinced: “Branch offices will still exist in 10 years time. Despite digitalization, personal contact remains important”. In recent years many branch offices were modernized in line with a new concept and new service branch offices were opened, particularly in high-traffic areas, such as train stations and shopping malls. Opening hours were extended and most Erste Bank branch offices in Vienna are open from 9:00 am to 6:00 pm these days. Until 2019 the branch office network of Erste Bank will continue to be remodelled according to the new design. Large advisory centers for private and corporate customers will next be established in Vienna, Lower Austria and Burgenland. Erste Bank currently operates a total of 166 branch offices and OMV banking service points in this region.