Erste Group invests in Poland
Austria’s Erste Group: Two Centuries of Trust, Now Investing in Poland
In times defined by rapid transformation, Austria’s Erste Group stands as a reliable constant in Europe. Founded in 1819 to help ordinary citizens pursue prosperity, the bank has evolved into the leading financial institution in Central Europe. Now, Erste Group is preparing to deepen its regional footprint with a planned acquisition of a controlling 49% stake in Santander Bank Polska and a 50% direct stake in the asset manager Santander TFI.
Peter Bosek, CEO of Erste Group said: “With the planned acquisition in Poland, we are investing in one of Europe's most dynamic growth markets – because we believe in the innovative strength, and entrepreneurial potential of Central and Eastern Europe.”
From a local Viennese Bank to Regional Leadership in CEE
Erste’s journey began over 200 years ago in Vienna’s Leopoldstadt district, where it opened its doors to all people, regardless of their age, gender, or status. At a time when banking was reserved for the elite, Erste provided access to savings and loans to all, driven by the belief that empowering individuals is the most effective way to build prosperity.
Fittingly, both its first saver and first borrower were women: 12-year-old Marie Schwarz and Anna Nagl, a widowed restaurant owner. Their stories marked the beginning of the spread of the savings bank idea across Central and Eastern Europe. By the mid-1800s, Erste’s model had inspired savings banks from Prague to Lviv, from Zagreb to Kosice, laying the foundation for finance for all. Polish towns in which the savings banks and associated general welfare institutions were founded during the 19th century include Bielsko-Biała, Cieszyn, Jarosław and Kraków.
IPO: A Catalyst for Regional Expansion
Erste’s transformation into a regional leader accelerated with its initial public offering on the Vienna Stock Exchange in December 1997. The IPO raised over €500 million, the largest share issue in Austrian history at the time, and enabled Erste to pursue a bold expansion strategy across Central and Eastern Europe.
Between 1997 and 2008, Erste acquired major banks in Hungary, Croatia, Czechia, Slovakia, Romania and Serbia. By entering these markets, Erste has played a central role in advancing the CEE banking sector and funding the region’s economic transformation.
Banking with a Human Touch to finance Growth and Innovation
Today, Erste reaches 17 million customers and ranks among the top three banks in most of its seven core markets. With nearly 46,000 employees and over 1,800 branches, Erste combines personal advice with advanced digital technology. Its award-winning digital platform George is used by over 11 million Erste customers across Central and Eastern Europe to manage daily finances, plan budgets, invest, and achieve financial goals.
In addition to its well-established standing in retail banking, Erste is also a leading player in the commercial banking and capital markets sphere. Its corporate, investment banking and commercial real estate divisions account for around half of the Group’s revenues. With almost one million micro-, small- and mid-sized business clients, Erste is a key partner for SME-businesses that form the backbone of the region’s economy. This year, it was named “Best Bank in Central and Eastern Europe” by Euromoney and its banks in Austria, Czechia, Slovakia, and Hungary also received individual awards, underlining Erste’s leadership across the region.
In Poland, Erste has made its mark through Warsaw-based Erste Securities Polska, which has offered brokerage and advisory services to institutional clients since 1995. Leveraging its international operations, Erste Group has provided cross-border banking services for corporate and institutional clients in Poland, including green transition financings or commercial real estate projects.
Purpose-Driven Banking
Erste’s success is rooted not only in its financial performance, but also in its unwavering commitment to doing what is right for its customers and the communities in which it is present. The Group’s Statement of Purpose emphasizes dignity, accessibility, and financial literacy.
This is also reflected in Erste’s Social Banking initiatives, managed in partnership with its core shareholder, the ERSTE Foundation.
Over the past decade, Erste has invested more than €700 million in social development, helping create and preserve nearly 100,000 jobs across the region. Erste also supports a wide range of social enterprises and non-profit organizations, including Impact Hub, supporting start-ups across Central and Eastern Europe, Unverschwendet, reducing food waste in Austria or Dostupný Domov, enabling affordable housing in Slovakia, just to name a few.
Close to Erste Group’s heart is financial education. Its unique financial literacy project, Erste Financial Life Park (FLiP), helps young people make informed financial decisions by combining technology, storytelling and gaming to help them build their confidence in managing their financial future. The content is tailored and created in accordance with latest didactic findings supported by a scientific advisory board comprising experts from the University of Vienna, Fairer Finance, Stanford University, the Hertie School of Governance, and other institutions. The FLiP center has educated more than 10,000 students a year alone in Vienna since 2016.
Poland: A Strategic Commitment
Erste Group appreciates the maturity and modernity of the Polish banking sector and would like to contribute to its further development. The Group focuses on long-lasting relationships and providing best of class customer experience while investing in innovation, digitalization and mobile services.
With Erste’s planned entry into Poland, the market can expect a bank that offers a blend of personal banking, trust, innovation and unparalleled regional expertise in Central and Eastern Europe. They will gain a partner with a proven track record of supporting retail, small and medium-sized enterprises, business clients and large corporate clients, promoting financial education, and investing in communities.
“Poland is not just a market, it is a strategic commitment for us,” said Erste Group CEO Peter Bosek. “We are here to stay, to invest, and to contribute to the country’s long-term prosperity.”