Name remains unchanged

Salzburger Sparkasse merges with Erste Bank

Salzburger Sparkasse will merge completely with its economic parent Erste Bank in the fall of 2025. The brand will be retained and nothing will change for customers, the company assures.

Salzburger Sparkasse will merge with its 100 percent parent company Erste Bank Österreich. The merger is planned for fall 2025 and is intended to streamline administrative channels and management structures, Erste announced in a press release on Friday. The Salzburger Sparkasse brand will remain, and the merger will not change anything for customers in Salzburg.

The Management Board members Christoph Paulweber and Markus Sattel will remain in their positions and will support the merger. Erste Bank announced that it would double the number of apprentices in the coming year and train 50 new employees as customer advisors. The existing branch network will be improved and modernized.

Salzburger Sparkasse was once almost wholly owned by the City of Salzburg. Due to massive financial problems, the City of Mozart initially sold 70 percent to Erste Bank in 1996, followed by the remaining shares five years later. According to Wirtschaftscompass, Salzburger Sparkasse generated almost 112 million euros (EBT) in 2023, with total assets amounting to 8.03 billion euros. The company employs around 540 people.