The story
Foundation & first years
The oldest part of the Group is the Landesbank, which was founded as the Landes-Hypothekenanstalt für Niederösterreich in 1888. As part of the partial privatization, 26% was sold to Österreichische Volksbanken-Aktiengesellschaft.
Restructuring in Hypo Landesbank
In 1998 the bank moved its group headquarters to Sankt Pölten. In 1999, ÖVAG's share was increased to 41%. In 2007, the state bought back ÖVAG shares and the bank was divided into HYPO Investmentbank AG and Niederösterreichische Landesbank-Hypothekenbank Aktiengesellschaft (HYPO Landesbank). Since this date, it has again been wholly owned by the Province of Lower Austria.
In September 2017, the banking operations of HYPO NOE Gruppe Bank AG and HYPO NOE Landesbank AG were merged. From 23 September 2017, the merged bank operated under the names HYPO NOE Landesbank für Niederösterreich und Wien AG. By reintegrating the retail and residential construction business into the core bank, efficiency increases could be ensured by reducing the complexity of the organisation and leveraging operational synergy effects.
On 20 July 2017, Investment was dropped from its company name which became Hypo Vorarlberg Bank AG.
Current developments
In autumn 2012, General Director Peter Harold opened a new corporate headquarters in Sankt Pölten on behalf of the HYPO NOE Group with a net floor area of around 19,000 m2. In addition to these infrastructure measures, the company also intends to continue focusing on sustainable development in its business areas in the federal state of Lower Austria, according to the management board, and has been preparing a sustainability/CSR report on the subject since 2013.
From Wikipedia’s article on Hypo Noe Landesbank, shared under CC BY-SA 4.0.5