The Austrian savings banks are the financial institutions with the longest tradition in the country. Erste Österreichische Sparkasse, the current Erste Bank der oesterreichischen Sparkassen AG was set up in 1819.
55 regional savings banks and erste bank are members of the Austrian Savings Banks Association. The savings banks group reported total assets of EUR 176 bn at the end of 2008 (+ 17.4%) with just over 13,000 employees. Twenty percent of Austrians make up the main customers of the savings banks; the total primary funds as at the end of 2008 was EUR 92.1 bn (+ 6.7%), total loans were 123.941 bn Euro (+ 18,1%), which corresponds to a market share of 15.5%. the main tasks of savings banks association are the (inter)national lobbying, policy relations and data management of the savings banks group.