Liberalization & IPO
(1980–2000)
1993
Erste transfers its business operations to the newly founded subsidiary company “Die Erste österreichische Spar-Casse-Bank Aktiengesellschaft.” The savings bank itself is now called “DIE ERSTE österreichische Spar-Casse Anteilsverwaltungssparkasse”, or AVS for short. In the fall of that year, there is a capital increase and the issue of preferred shares with a par value of 100 schillings each.
Erste Global Share, 1994
1997
Advertising campaign for the initial public offering, 1997
The bank changes its name to “Erste Bank der oesterreichischen Sparkassen AG“. It acquires Girozentrale and the Hungarian Mezöbank. In November, Erste goes public and makes Austrian financial history: shares worth more than 7 billion schillings (508 million euros) are subscribed – the largest share issue on the Vienna Stock Exchange at the time. In December, it is included in the ATX, the Austrian leading stock index.
2000
In February, Erste Bank wins the bid to acquire a 52.07 percent stake in Česká spořitelna, a.s., the second-largest bank in the Czech Republic. This marks an important milestone in the implementation of its Central European strategy. In December, the government of the Slovak Republic decides to sell its 87.18% stake in Slovenská sporiteľňa, a.s., the country's largest bank, to Erste Bank.