A Brief History of the Long Development of Erste Branches
With this volume, Corporate Archives launched a new series of publications. The aim is to make the archive's research findings visible and accessible to a broad public – in a well-founded, clear and readable form.
The publication traces the development of the branches of the Erste österreichische Spar-Casse from its beginnings in 1819 to the present day. It all started in a small parish office in Vienna's Leopoldstadt district. Pastor Johann Baptist Weber offered the first point of contact for people on low incomes – a revolutionary step that made saving accessible for everyone.
In the decades that followed, the rapid spread of the savings bank idea throughout the monarchy took centre stage. Where the establishment of an independent savings bank was not (yet) possible, whether for financial or organisational reasons, a „Kommandite“ often stepped in, a kind of branch of the savings bank, usually located in a merchant's house.
Growth and Change in the Branch Network
The actual history of the branches only began in 1927: with locations on Mariahilfer Straße and in Hietzing, the foundation was laid for the Vienna branch network. Since there were neither private payment transactions nor private lending, business was initially limited almost exclusively to savings deposits.
The end of the 1950s and the 1960s saw a veritable branch boom. The strong economy and rising mass incomes were the prerequisites for high savings rates. As early as 1958, emphasis was placed on architectural quality and the integration of artistic works in the design of the branches.
From the 1970s onwards, the focus shifted increasingly from the mere handling of savings deposits toward advice and service, supported by new technologies such as ATMs and IT. By 1997, the branch network had grown to 377 locations in Austria. At the same time, expansion into Central and Eastern Europe began, with the number of branches reaching 3,200 at times.
Branch Elisabethallee 61, 1972
The Branch of the Future
The introduction of online banking fundamentally changed the role of branches. Today, they are primarily places for consultation and interaction, combining personal service with digital solutions.
The volume not only highlights internal developments within banks, but also broader social transformations, technological innovations and changing customer expectations.
A brief history of the long development of Erste branches, German Version
Volume 1 of the Corporate Archives series
Published by Erste Group Bank AG, Corporate Archives
Authors: Norbert Bacher, Milan Frühbauer
2019