The Salzburger Sparkasse will fully merge with its economic parent company Erste Bank in the autumn of 2025. The brand remains the same and nothing will change for customers, the company assures.
Salzburger Sparkasse will merge with its 100 percent parent company Erste Bank Österreich. The merger is planned for the autumn of 2025. This will streamline administrative channels and management structures, Erste announced in a broadcast on Friday. The Salzburger Sparkasse brand will continue to exist and nothing will change for customers in Salzburg as a result of the merger.
Board members Christoph Paulweber and Markus Sattel will remain in their positions and will supervise the merger. Erste Bank announced that it would double the number of trainees and train 50 new employees as customer advisors in the coming year. The existing branch network is being improved and modernized.
The Salzburger Sparkasse was once almost entirely owned by the city of Salzburg. Due to enormous financial problems, Mozart City initially sold 70 percent to Erste Bank in 1996, followed five years later by the remaining shares. According to Wirtschaftscompass, the Salzburger Sparkasse generated almost 112 million euros (EGT) in 2023 and its balance sheet total amounted to 8.03 billion euros. The company employs approximately 540 people.
Source: Krone
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