Oesterreichische Kontrollbank
Oesterreichische Kontrollbank is Austria's specialist financial institution for export finance, development finance, capital-market infrastructure, and related public-interest services.
Last updated August 25, 2026
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Overview
Oesterreichische Kontrollbank AG, commonly known as OeKB, is a Vienna-based Austrian special-purpose financial institution established in 1946 during the reconstruction of Austria's postwar economy. Although organized as a private-sector company and owned by Austria's major banks, it performs a number of functions connected with public policy and the operation of national financial infrastructure. Certain activities undertaken for the Austrian government are supported by the state budget. OeKB's activities span several connected areas. In export finance, it provides financing and related services for Austrian exporters and supports state-backed export credit and insurance arrangements. Its export-services group includes Oesterreichischer Exportfonds GmbH and Acredia Versicherung AG. OeKB also operates in development finance through Oesterreichische Entwicklungsbank AG, known as OeEB, which supports private-sector projects in developing and emerging economies. Tourism finance is represented by Österreichische Hotel- und Tourismusbank, or ÖHT, in which OeKB acquired a controlling interest. A second major area is capital-market infrastructure. OeKB has historically served as the central securities depository for the Vienna Stock Exchange. Its capital-market businesses provide securities custody, settlement, and related services through OeKB CSD GmbH. OeKB is also associated with Central Counterparty Austria, or CCP.A, which provides clearing infrastructure for securities-market transactions. These activities place OeKB near the operational core of Austria's capital market rather than in the role of a conventional retail or commercial bank. The group has additional interests in information technology, energy-market clearing, and central European holding activities. OeKB Business Services provides group-related technology and business services. Energy interests include stakes in gas and electricity clearing organizations, while OeKB acts as a general clearing member of European Commodity Clearing. The group structure therefore combines state-related finance, market infrastructure, export support, development lending, tourism finance, and specialized operational services. OeKB's institutional role has developed from its original postwar mandate. At its creation on 22 January 1946, it received responsibilities associated with economic recovery and the rebuilding of Austria's financial and capital-market systems. It took over activities connected with the Wiener Giro- und Cassen-Verein, an organization founded in 1872 and associated with one of the world's earliest central securities-depository functions. In 1949, OeKB became the central securities depository of the Vienna Stock Exchange, and in 1950 it began insuring exports on behalf of the Austrian state. Over subsequent decades, OeKB expanded through subsidiaries, partnerships, and organizational restructuring. It acquired a majority stake in Oesterreichischer Exportfonds in 1998, established CCP.A in 2004, placed development-finance activities in OeEB in 2008, formed Acredia with Euler Hermes in 2014, and separated its central-securities-depository business into OeKB CSD GmbH in 2015. In 2019, it acquired a 68.75 percent stake in ÖHT from Bank Austria and Erste Group. OeKB is not a widely marketed consumer brand. Its principal users are exporters, investors, banks, issuers, government-related bodies, development-finance partners, tourism businesses, and participants in Austrian and European financial markets. Its positioning rests on institutional reliability, specialized expertise, and the combination of privately owned governance with public-purpose mandates. The institution is specifically exempt from the European Union Capital Requirements Directives and consequently falls outside the scope of European Banking Supervision.
History
Oesterreichische Kontrollbank was established on 22 January 1946 by major Austrian banks in the re-established Republic of Austria. Its founding shareholders were Creditanstalt-Bankverein, Österreichische Länderbank, Österreichisches Credit-Institut, and the private banks Schoeller & Co. and Pinschof & Co. The institution was created against the background of postwar reconstruction and was assigned responsibilities intended to restore Austria's financial system, support economic recovery, and rebuild capital-market infrastructure. One of the institution's early inheritances was activity associated with the Wiener Giro- und Cassen-Verein, founded in 1872 and regarded as a pioneer of central securities-depository services. In 1949, OeKB became the central securities depository for the Vienna Stock Exchange. This provided the foundation for a long-term capital-market infrastructure role involving the custody and settlement of securities. In 1950, OeKB began insuring exports on behalf of the Austrian state, establishing the export-support function that remains central to the group. OeKB subsequently developed a broader group structure. Oesterreichischer Exportfonds, originally established in 1950, became majority-owned by OeKB in 1998, with the Austrian Economic Chamber retaining a minority interest. In 2004, OeKB established Central Counterparty Austria by merging its cash-market clearing activities for the Austrian stock market with the futures-market clearing system initiated by Wiener Börse in 1991. This expanded OeKB's involvement from securities custody and settlement into central-counterparty clearing. Development finance was reorganized in 2008 through Oesterreichische Entwicklungsbank AG, or OeEB. The subsidiary focuses on financing and supporting private-sector development projects outside Austria. In 2014, OeKB entered into a partnership with Euler Hermes to form Acredia Versicherung AG, combining Austrian institutional expertise with an international export-credit-insurance partner. In 2015, the central securities-depository activity was placed in OeKB CSD GmbH as a separate wholly owned company. OeKB expanded into tourism finance in 2019, when it acquired a 68.75 percent stake in Österreichische Hotel- und Tourismusbank, commonly abbreviated as ÖHT, from Bank Austria and Erste Group. ÖHT had been established in 1947 and provides financing services connected with Austria's hotel and tourism sector. The modern OeKB Group includes wholly owned or controlled businesses in development finance, securities depository services, business technology, and central European holding activities. OeKB owns OeEB, OeKB CSD GmbH, OeKB Business Services GmbH, and OeKB Zentraleuropa Holding GmbH. It holds 70 percent of Oesterreichischer Exportfonds, 51 percent of Acredia Insurance, and 50 percent of CCP.A, with the remaining interests held by the Austrian Economic Chamber, Allianz, and Wiener Börse respectively. It also has minority investments in gas and power clearing organizations and participates in European energy-market clearing. The institution's ownership remains centered on Austria's banking sector. It is privately organized but performs public-purpose functions, including activities conducted for the Austrian government and supported by the state budget. OeKB is specifically exempt from the European Union Capital Requirements Directives and is therefore outside the scope of European Banking Supervision. Its current identity is consequently that of a specialized financial institution and market-infrastructure operator rather than a conventional retail bank.
- 2019
Controlling stake in ÖHT
[1]OeKB acquired 68.75 percent of Österreichische Hotel- und Tourismusbank from Bank Austria and Erste Group.
- 2015
OeKB CSD becomes a separate entity
[1]The central securities-depository business was established as the wholly owned OeKB CSD GmbH.
- 2014
Acredia is formed
[1]OeKB partnered with Euler Hermes to create export-credit insurer Acredia Versicherung AG.
- 2008
Development finance moves to OeEB
[1]OeKB organized its development-finance activities within Oesterreichische Entwicklungsbank AG.
- 2004
Central Counterparty Austria is created
[1]OeKB established CCP.A by combining cash-market and futures-market clearing activities.
- 1998
Majority stake in Oesterreichischer Exportfonds
[1]OeKB acquired 70 percent of Oesterreichischer Exportfonds, expanding its export-finance platform.
- 1950
State-backed export insurance begins
[1]OeKB began insuring exports on behalf of the Austrian state.
- 1949
Central securities-depository role begins
[1]OeKB became the central securities depository of the Vienna Stock Exchange.
- 1946
OeKB is established
[1]Oesterreichische Kontrollbank was founded on 22 January by major Austrian banks to support postwar reconstruction and the restoration of national financial infrastructure.
Products and positioning
Austria's specialist financial-infrastructure and public-purpose finance institution, linking export support, capital-market operations, development finance, and selected sectoral financing services.
Export finance · 1950
Export finance and export services
OeKB supports Austrian exporters through financing, export-credit services, and related public-sector arrangements. The group combines direct or facilitated export finance with insurance and other risk-management functions. Oesterreichischer Exportfonds is a principal group company in this area, while Acredia provides export-credit insurance through an ownership structure shared with Allianz.
Capital-market infrastructure · 1949
Securities depository and settlement
Through OeKB CSD GmbH, the group provides central securities-depository services associated with the Austrian capital market. Activities include securities custody, settlement, and related infrastructure functions. OeKB's role in this field dates back to its appointment as central securities depository for the Vienna Stock Exchange in 1949.
Market clearing · 2004
Central counterparty clearing
Central Counterparty Austria, jointly owned by OeKB and Wiener Börse, provides central-counterparty clearing infrastructure for relevant Austrian market transactions. The business was created in 2004 by bringing together cash-market clearing and an existing futures-market clearing system.
Development banking · 2008
Development finance
Oesterreichische Entwicklungsbank AG, or OeEB, is OeKB's development-finance arm. It supports private-sector investment and development-oriented projects in developing and emerging markets, extending the group's mandate beyond Austrian export and capital-market services.
Sectoral finance · 2019
Tourism and hospitality finance
Österreichische Hotel- und Tourismusbank, or ÖHT, provides financing connected with Austria's hotel and tourism sector. OeKB became the majority shareholder in 2019, adding a specialized domestic-sector financing platform to the group.
Energy financial infrastructure
Energy-market clearing
OeKB has minority investments in gas and electricity clearing organizations and acts as a general clearing member of European Commodity Clearing. These activities extend the group's infrastructure role into European energy markets.
Brand decisions
2019
Acquire control of Österreichische Hotel- und TourismusbankM&ABackground
OeKB expanded its sector-specific financing activities into Austria's tourism and hospitality industry.
Action taken
OeKB acquired a 68.75 percent equity stake in ÖHT from Bank Austria and Erste Group.
Aftermath
ÖHT became a controlled company within the OeKB Group and added tourism finance to its domestic institutional-services portfolio.
Equity stake acquired. 68.75% (2019)
2015
Separate the central securities depository businessStrategyBackground
OeKB reorganized its capital-market infrastructure operations.
Action taken
It established OeKB CSD GmbH as a separate wholly owned entity.
Aftermath
The reorganization gave the central securities-depository activity a distinct corporate structure within the OeKB Group.
2014
Form Acredia with Euler HermesM&ABackground
OeKB sought to expand and institutionalize its export-credit-insurance activities.
Action taken
OeKB partnered with Euler Hermes to establish Acredia Versicherung AG.
Aftermath
Acredia became part of OeKB's export-services group, with OeKB holding a majority interest and Allianz holding the remaining stake.
2004
Create an integrated central-clearing platformStrategyBackground
Austrian securities markets required coordinated clearing arrangements for cash and futures transactions.
Action taken
OeKB established Central Counterparty Austria by combining its cash-market clearing activity with the futures-market clearing system initiated by Wiener Börse.
Aftermath
The move broadened OeKB's capital-market infrastructure role from securities depository services into central-counterparty clearing.
Recent events
- 2019
OeKB acquires a controlling stake in Österreichische Hotel- und Tourismusbank[1]
M&A
OeKB acquired a 68.75 percent equity stake in Österreichische Hotel- und Tourismusbank from Bank Austria and Erste Group, strengthening its role in tourism finance.
- 2015
OeKB separates its central securities depository business[1]
Other
OeKB established OeKB CSD GmbH as a separate wholly owned entity for central securities-depository operations.
- 2014
OeKB and Euler Hermes form Acredia[1]
M&A
OeKB partnered with Euler Hermes to establish Acredia Versicherung AG, expanding its export-credit insurance activities.
- 2004
OeKB establishes Central Counterparty Austria[1]
Other
OeKB created Central Counterparty Austria by combining its cash-market clearing activity for the Austrian stock market with the futures-market clearing system initiated by Wiener Börse.
Sources2 sources
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