Over 3100 candidates responded to the announcement that Erste Bank has made in the Romanian media in autumn 2004. By February 2005, 15 final selected applicants joined an intensive training programme at Erste Bank in Vienna and its subsidiaries in Central Europe. The aim is to train the participants in respect of the Erste Bank standards. Once Erste Bank enters the Romanian market, it will have well trained local staff with enhanced knowledge both on the Romanian market and on the procedures and the requirements of Erste Bank.
„The 15 trainees accepted in the programme are well qualified banking specialists. According to the schedule, they will come in contact with the way Erste Bank operates. It is the perfect combination to create synergies for Erste Bank ‘s entrance in Romania. “, said Arjen Janmaat, Senior Manager Group Strategy.
The programme has started in February 2005 with a presentation of all departments involved: Group Strategy, Group Risk Management, Group Marketing , Group Treasury, Group Planning and Controlling, Retail and Corporate Business. After the initial phase, the participants took part in simulations of case studies and gained specific knowledge on the Austrian and Central Europe banking market.Now the programme proceeds with on-the-job learning and practice in the above mentioned departments. The programme will also include courses held by specialists of Economic Science and Business Administration University in Vienna and Romanian Banking Institute (IBR).
„Mostly we benefit from the intensive job rotation within the different departments of the Erste Bank Group. We rely that we will apply the gained know-how once Erste Bank enters Romania“, said Cristina Varzaru, participant in the training programme.
About Erste Bank
Erste Bank was founded in 1819 as the first savings bank in Austria (Erste oesterreichische Spar-Casse) and today represents the largest central European financial service providers, measured by number of customers and by total assets. Erste Bank’s customer base has grown from 600,000 to almost 12 million in seven years. This is a result of growth in Austria (aided by close co-operation with the savings banks) and expansion into Central Europe by acquisition, as well as organic growth of pre-existing operations in these markets. Erste Bank had total assets of EUR 139.7 billion as of 31.12.2004. Amounts owed to customers corresponded to EUR 68.2 billion, while loans and advances to customers stood at over EUR 72.7 billion.
The Erste Bank Group’s customer focus is on the retail market as well as small to medium-sized enterprises (SME). The product focus is retail banking, real estate finance, large scale private client banking and services for small to medium-sized companies, but it’s moving increasingly towards higher margin commission-based business, where Erste Bank has achieved particular success, including asset management, insurance and leasing. The pioneering partnership approach adopted in Austria has enabled Erste Bank to leverage its core competencies across the large distribution network offered by the Austrian savings banks, offering new sources of growth potential in a mature market.
The largest acquisitions in Central Europe were in the Czech Republic and Slovakia. Following the February 2000 acquisition of a majority (52 %) stake in Èeská spoøitelna, in 2002 and 2003 Erste Bank increased its holding to 98 %. Èeská spoøitelna is the leading Czech retail bank with 5.4 million customers and a market share in retail deposits of over 27 % in the Czech Republic. In April 2001, Erste Bank acquired an 87 % stake in Slovenská sporiteµòa, the largest bank in the Slovak Republic with 2.5 million customers and a market share in retail deposits of almost 35 %. The current stake amounts to 100 %. In 2002 Erste Bank acquired an 85 % stake in Rijeèka banka, which was merged with the Erste Bank Croatia to the third positioned bank on the Croatian market with a market share in retail deposits of approx. 10 %. Erste Bank’s stake at Erste Bank Croatia amounts today to 62%. In September 2003, Erste Bank won the tender to buy 99.97 % of Hungary’s Postabank and merged it successfully with Erste Bank Hungary, thus making the new bank the second biggest retail bank in the country with a market share in retail deposits of approx. 9 %. In Austria, Erste Bank, together with its 59 savings bank partners, has a retail market share of around 20 %. Through these and other previous acquisitions, Erste Bank has significantly enhanced its attractiveness as a distribution partner for the insurance industry and international mutual fund managers.
