Oesterreichische Volksbanken AG ESG Ranking

In Austria there are 35 local Volksbanks (by end of 2015), each of them organized as a cooperative or a corporation. By 2017 they will merge to 8 regional banks and 2 specialized banks. They build an integrated system of banks (Association of Volksbanks) connected through a contract of collaboration. The central institution is VOLKSBANK WIEN AG, the biggest regional bank of the association. The central service functions were transferred from Österreichische Volksbanken AG (ÖVAG) to VOLKSBANK WIEN AG in July 2015. ÖVAG itself surrendered its banking license. The remainder of ÖVAG continues to operate as a wind-down entity under the name of immigon portfolioabbau ag. Immigon is responsible for ensuring the orderly, active and value-preserving wind-down of its assets.