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MEGA INTERVIEW
Gerhard Fabisch CEO of the Austrian Group
Steiermärkische Sparkasse
WE STAND WITH OUR
CLIENTS IN GOOD
AND IN BAD TIMES
In the beginning of this interview, important are these banks for the Aus-
could you please explain the concept of trian banking sector?
a savings bank, as it works in Austria.
That will help us understand the true G. Fabisch: The Austrian group of
essence of the Steiermärkische Spar- savings banks has a market share of
kasse-Group business model. about 30%. Many Austrian savings
banks are established in major cities
G. Fabisch: Savings banks were first which makes them particularly well
founded in Austria about 200 years represented in major urban centers.
ago, in order to enable natural persons Besides banking operations with natu-
and legal entities to achieve their goals ral persons, special efforts are invested
and make their life better. These in- in the operations with legal entities,
clude safe and profitable investment of small and medium enterprises. In
funds, but also a possibility for taking Austria we have a total of 3.5 million
loans in order to invest. The range of customers. Thus the Austrian group
products has expanded in recent years. of savings banks is one of the most im-
Additionally they include many ser- portant providers of financial services
vices, payments, insurance products in Austria.
and securities. However, working with
customers is the primary activity of What were the key developments
the savings banks. Approximately 80% in the Austrian banking sector in the
of our total assets result from working period after the global financial crisis
with customers. Investment banking in 2008? How do Austrian banks cope
and speculations are not in the field of with this enormous level of uncertain-
our interest. Long-term support for our ty faced by the global economy and fi-
customers and support in the accumu- nancial markets?
lation of assets are very important for
us. G. Fabisch: The financial crisis in
2008 in Austria showed very clearly
You are also a President of the Aus- which banks or banking groups are
trian Savings Banks Association. How safe and stable and which find it very
September 2016 17
