The Banker names Erste Bank und Sparkassen the "bank of the year" in Austria

International finance magazine, "The Banker", named Erste Bank und Sparkassen "bank of the year 2009" in London last night. The reason: ""A sustainable and long term strategy of sticking to its savings bank heritage and focusing on deposit lending business has ensured the bank is increasingly well positioned within the Austrian retail marketplace," says The Banker's Finance Editor Philip Alexander, "Making this kind of market share gain possible has been regulatory approval for the co-operation between Erste bank and the other Austrian savings banks." (Editor's note: Erste Bank und Sparkassen form a group through the "cross-guarantee system")

Elisabeth Bleyleben-Koren, CEO of the Erste Bank der oesterreichischen Sparkassen: "I am pleased about this distinction, because it proves that we, as a Group, have been able to form a new force in Austria. I would also like to thank the some 16,000 staff of the savings bank group in Austria, who give of their best every day despite the difficult times. Their commitment and consultancy services are the difference between us and our competitors."

It is pleasing to see that the Erste Group received a total of three awards this year: The Romanian "BCR" and the Czech "Ceska Sporitelna" were also awarded the title of "bank of the year " in their respective countries.

The distinction of "bank of the yeara" was awarded by a jury in which CEOs and managers of British companies, as well as several editors from "The Banker", led by chief editor Stephen Timewell, were represented. "The Banker" is a London-based monthly magazine of the Financial Times Group specialising in banking. It is particularly aimed at the uppermost management levels and financial experts. In banking circles, the magazine is thus considered an important source of information on the banking sector, and its rankings are a recognised benchmark in international banking.