Bank Austria
(Finance and Banking)
(Finance and Banking)
Vienna Capital Partners
(Finance and Banking)
Wall Street Crash of 1929
(Finance and Banking)
Pierre Laval

See also


Knowledge Identifier: &Creditanstalt



Austrian bank based in Vienna add

Category: Business (2)

Founded in 1855.

Countries: Austria (48%), United States (17%), Europe (13%)

Main connections: Bank Austria, Albert Salomon von Rothschild, Semperit

Linked to: Steyr-Daimler-Puch, Commercial bank, Deutsche Bank, Investment banking




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The Creditanstalt itself was founded in 1855 by Salomon Mayer's son Anselm von Rothschild as "K. k. priv add something


Anselm's son Albert Salomon von Rothschild assumed the direction of the Credit-Anstalt in 1872, succeeded by Louis Nathaniel von Rothschild in 1911 add something


In 1912 the new headquarters in Vienna's Innere Stadt central district opened in a lavishly decorated Neoclassical building, which is still preserved up to today add something


In the late 1920s, a principal debtor, the Steyr-Werke AG faced financial difficulties, with bad loans leading to a drain on finances add something


In October 1929 the Austrian Schober government compelled the allegedly well-financed Credit-Anstalt to assume liabilities, which together with the simultaneous Wall Street Crash entailed the imbalance of the largest Austrian credit institution add something


Pierre Laval - In 1931, Austria underwent a banking crisis when its largest bank, the Creditanstalt, was revealed to be nearly bankrupt, threatening a worldwide financial crisis


Creditanstalt had to declare bankruptcy on May 11, 1931 add something


However, the institute was "de facto" state-owned after Chancellor Engelbert Dollfuß in 1934 oredered the merger of the institute with the "Wiener Bankverein", thus changing its name to "Creditanstalt-Bankverein" add something


Following the Austrian Anschluss to Nazi Germany in 1938, Creditanstalt-Bankverein was targeted for both financial and racial reasons add something


Aggrieved and disseized, he emigrated to the US in 1939 after more than one year in custody add something


After World War II, the bank was finally nationalised by Allied-occupied Austria in 1946 and became mainly a commercial bank and highly involved in Austria's economy, holding stakes in important Austrian companies such as Wienerberger, Steyr-Daimler-Puch, Lenzing AG and Semperit add something


Karl Hartl - On 3 July 1947 he set up in Salzburg, with the support of the Creditanstalt, the film production company Neue Wiener Filmproduktionsgesellschaft


Kronen Zeitung - At the beginning of the 1960s the journalist Fritz Molden wanted to buy the paper, but, according to Dichand, the Creditanstalt bank would not give him the necessary credit


Bank Austria - In 1975 Creditanstalt became the first western-bank to opened an office in Budapest


In thee 1980s, CA opened branches in London, New York and Hong Kong, the international orientation towards East-Central Europe was boosted by the fall of the Iron Curtain upon the Revolutions of 1989 add something


In 1981 the former Social Democratic Minister of Finance Hannes Androsch assumed the office of a general manager, after he had left the Kreisky cabinet add something


In 1997, the state-owned shares were sold to Bank Austria , resulting in a crisis in the ruling coalition between the Social Democratic Party and the conservative Austrian People's Party, since Creditanstalt had to be considered part of the conservative sphere of influence, whereas BA with its roots as Red Vienna's Central Savings Bank was considered standing politically left add something


Bank Austria - In 1997 activities of Creditanstalt and Bank Austria in the region were brought under the umbrella of a new holding company, Bank Austria Creditanstalt International


Vienna Capital Partners - Vienna Capital Partners was founded in 1998 by its Senior Partner Heinrich Pecina, who was on the managing board of Creditanstalt Investment Bank from 1990 to 1997


Bank Austria - In February 1998, the state sold its last shares and the remaining shares on the market were exchanged with shares in Bank Austria, and Creditanstalt was delisted from the Vienna Stock Exchange


In 2005 HVB was taken over by the Italian UniCredit holding company add something


After 153 years, the bank name "Creditanstalt" was finally erased in 2008, but survived in the "CA Immo" subsidiary add something