The present concern was established in 1869 as a joint stock bank though founded upon the much older Bankhaus Scheibenpogen, whose roots date to 1650. As a regional bank it provided deposit and commercial credit services to individuals and small-to-medium sized firms in Upper Austria and the Salzburg area. Lacking the international exposure of the great banks of Wien it weathered the financial crisis of the Great War in relatively good condition, and in the 1920s became one of Austria’s strongest regional banks.
Following the union of the Austrian provinces with the Reich it took advantage of the improved economic conditions to expand its operations. It acquired, through exchange of shares, the Bank für Kärnten und Steiermark and the Bank für Tirol und Vorarlberg, both smaller regional banks, and established a strong presence throughout all the Austrian provinces. At the same time it expanded its line of services, becoming a universal bank, and established branches in München, Frankfurt, Prague and Budapest.
It is known informally as “Oberbank”.