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TheOesterreichische Kontrollbank (OeKB,lit. 'Austrian Control Bank') is a special-purpose financial institution inAustria, headquartered inVienna. It was founded in 1946 and is owned by Austria's main banks. While technically a private-sector organization, part of its activity is carried out on behalf of the Austrian government and accordingly backed by the state budget.[4]: 50
The OeKB Group's main subsidiaries includeOesterreichischer Exportfonds GmbH andAcredia Versicherung AG in export services;OeKB CSD GmbH andCentral Counterparty Austria (CCP.A) in capital market infrastructure;Oesterreichische Entwicklungsbank AG (OeEB) in development finance; andÖsterreichische Hotel- und Tourismusbank (ÖHT) in tourism services. OeKB also has significant activities in the energy sector.
OeKB was established on 22 January 1946[5] by the main surviving banks in the re-establishedRepublic of Austria (which had been an integral part ofNazi Germany from 1938 to 1945), namelyCreditanstalt-Bankverein,Österreichische Länderbank,Österreichisches Credit-Institut [de] as well as private banksSchoeller & Co. and Pinschof & Co. The OeKB was given various tasks associated with postwar emergencies and the reconstruction of a national finance and capital markets infrastructure in Austria, including by taking over the activity of the formerWiener Giro- und Cassen-Verein,[6] established in 1872 and described as the world's oldestcentral securities depository (CSD).[7]: 39
In 1949, OeKB became thecentral securities depository of theVienna Stock Exchange, forming the basis for its capital market services arm. In 1950, it started insuring exports on behalf of the Austrian state.[4]: 50
In 1998, OeKB purchased 70 percent of the Oesterreichischer Exportfonds, which had been established in 1950. In 2004, it establishedCentral Counterparty Austria (CCP.A) by merging the cash market clearing it had provided to the Austrian stock market since 1949 with the futures market clearing system initiated by Wiener Börse in 1991.[6] In 2008, it brought its development finance activities into Oesterreichische Entwicklungsbank. In 2014, OeKB partnered withEuler Hermes to form export credit insurer Acredia Versicherung. In 2015, OeKB CSD was established as a separate fully owned entity.[8]: 10 In 2019, OeKB acquired a 68.75 percent equity stake in the Austrian Hotel and Tourism Bank (ÖHT, est. 1947) fromBank Austria andErste Group.[6]
Oesterreichische Kontrollbank AG is the full owner of OeEB (development finance), OeKB CSD GmbH (central securities depository), OeKB Business Services GmbH (IT services, est. 1996), and OeKB Zentraleuropa Holding GmbH. It owns 70 percent of Oesetrreichischer Exportfonds, the other 30 percent belonging to theAustrian Economic Chamber; 51 percent of Acredia Insurance, the other 49 percent belonging toAllianz; and 50 percent of CCP.A, the other 50 percent belonging toWiener Börse. In the energy sector, its investments include 20 percent ofAGCS Gas Clearing and Settlement AG [de] and 17 percent of APCS Power Clearing and Settlement AG.[4]: 52
In energy, the OeKB acts as a general clearing member ofEuropean Commodity Clearing, Europe's leading energy clearing house.
As of early 2025, the shareholders of OeKB were as follows:[9]
UniCredit became by far the largest owner through its acquisition of Austrian operations that brought together Austrian banks that were originally separate shareholders of OeKB, such asCreditanstalt,Länderbank, andSchoellerbank.
OeKB is specifically exempted from application of the EUCapital Requirements Directives and is thus outside the scope ofEuropean Banking Supervision.[10]: 29
