Question 1

What is Raiffeisenbank Region Schwechat?

Accepted Answer

Raiffeisenbank Region Schwechat is a local cooperative bank (eingetragene Genossenschaft, eGen) serving the Schwechat region in Lower Austria. As part of the broader Austrian Raiffeisen Banking Group, it provides retail banking products and services to individuals, professionals, and small- to medium-sized enterprises (SMEs).

With total assets of approximately 739 million EUR as of 2023, it ranks as the 133rd largest bank in Austria. The bank specializes in community-focused banking, maintaining a local presence while benefiting from the resources and support of the larger Raiffeisen network.

Question 2

When was Raiffeisenbank Region Schwechat founded?

Accepted Answer

While the specific founding date of Raiffeisenbank Region Schwechat is not publicly documented, it is part of the Austrian Raiffeisen movement that traces its roots to 1886. The first Raiffeisen bank in Austria was established in Mühldorf near Spitz an der Donau, inspired by Friedrich Wilhelm Raiffeisen's cooperative banking model from Germany.

The Raiffeisen cooperative banking movement in Austria grew rapidly, with over 2,000 local Raiffeisen banks operating by 1918. These institutions were created to provide financial services to farmers, craftsmen, laborers, and traders, addressing the agrarian crisis of the era. Raiffeisenbank Region Schwechat was authorized by Austrian authorities on November 20, 2013, according to regulatory records.

Question 3

Where is Raiffeisenbank Region Schwechat headquartered?

Accepted Answer

The bank is headquartered in Schwechat, Lower Austria. Schwechat is a city located southeast of Vienna, known for being home to Vienna International Airport and the Austrian national oil company OMV's refineries. The city sits along the Schwechat River and has a population of approximately 18,000 residents.

Question 4

Where does Raiffeisenbank Region Schwechat operate?

Accepted Answer

Raiffeisenbank Region Schwechat operates primarily in the Schwechat region and surrounding areas of Lower Austria. This includes the city of Schwechat and its subdivisions (Katastralgemeinde): Kledering, Mannswörth, Rannersdorf, and Schwechat proper.

The bank serves communities in the Bruck an der Leitha District, which Schwechat has been part of since 2017. Its geographic focus encompasses areas in close proximity to Vienna, providing banking services to both urban and suburban populations in this economically important corridor.

Question 5

What services does Raiffeisenbank Region Schwechat offer?

Accepted Answer

Raiffeisenbank Region Schwechat offers a comprehensive range of retail and business banking services:

Retail Banking: Current accounts, debit cards, credit cards, savings accounts, time deposit accounts, consumer loans, car loans, and mortgage loans.

Business Banking: Business accounts, business payment cards, business loans, and financial solutions tailored for small- and medium-sized enterprises.

Digital Services: Online banking platform and mobile banking applications that provide access to account management, payment services, card management, and transaction monitoring. Customers can access services through branch locations, online banking systems, and mobile apps.

Investment and Trading: Trading accounts and investment services for customers seeking wealth management solutions.

Question 6

What makes Raiffeisenbank Region Schwechat unique?

Accepted Answer

Raiffeisenbank Region Schwechat combines the personalized service of a local cooperative bank with the strength and resources of Austria's second-largest banking group. Key distinctive features include:

Cooperative Structure: As a cooperative (eGen), the bank operates on democratic principles where members have ownership and voting rights, prioritizing member interests over pure profit maximization.

Local Market Knowledge: Deep understanding of the Schwechat region's economy, which includes industries such as aviation (Vienna International Airport), oil refining (OMV), and manufacturing, allowing for tailored financial solutions.

Comprehensive Protection: Deposits up to 100,000 EUR are covered by the Austrian deposit guarantee scheme (Einlagensicherung AUSTRIA Ges.m.b.H.). The bank also participates in the Österreichische Raiffeisen-Sicherungseinrichtung eGen (ÖRS), an institutional protection scheme specific to Raiffeisen banks that became operational in 2021.

Network Advantages: Access to the broader Raiffeisen Banking Group infrastructure, including Raiffeisen Bank International for international banking needs, while maintaining local decision-making autonomy.

Question 7

What type of financial institution is Raiffeisenbank Region Schwechat?

Accepted Answer

Raiffeisenbank Region Schwechat is classified as a credit institution (CRDCREINS) under European Banking Authority regulations. In Austrian terms, it operates as a Raiffeisenbank within the cooperative banking sector.

More specifically, it is an eingetragene Genossenschaft (eGen), which translates to "registered cooperative." This legal form means the bank is owned by its members rather than external shareholders. Cooperatives in the Austrian banking system focus on serving their members' financial needs and operate under the principle of democratic member control.

As one of 342 local cooperative Raiffeisen banks in Austria, it functions as a community-focused retail and commercial bank. It falls under the supervision of the Austrian Financial Market Authority (Finanzmarktaufsicht, FMA) and is part of the European Central Bank's Single Supervisory Mechanism as a credit institution in the eurozone.

Raiffeisenbank Region Schwechat

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About Raiffeisenbank Region Schwechat in Austria

Raiffe­isenba­nk Region Schwechat