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208:, the Zentralsparkasse branded itself as "Z" and once again became the house bank of the social democratic municipal administration of Vienna. It played a significant role in the reconstruction of Vienna and from the 1960s onwards in the significant improvement in the living standards of broad sections of the population. Thanks to its scale, it often recorded higher profitability than commercial banks. In 1965, it relocated its head office to a purpose-built property at Vordere ZollamtsstraĂźe 13, designed by architect
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on 5 October, with retroactive effect from 1 January 1991. AVZ became a main shareholder of Bank
Austria, and was converted into a foundation in 2001. In 1994, Bank Austria's headquarters were relocated to a building at Lassallestrasse 5 in the Nordbahnhof neighborhood of Vienna, and the bank
96:) in Austria since the 1850s. Like with other similar entities, the city of Vienna was not formally the bank's owner but assumed liability for all its savings deposits and controlled its governance. The new institution immediately became a major competitor to the
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which had been the dominant savings bank in Vienna since 1819. One of the main drivers for its creation had been the expansion of the municipality of Vienna which had absorbed surrounding villages which had their own
240:(AVZ). By then, it had 120 branches in Vienna and 98 in the rest of Austria, the largest branch network of all Austrian credit institutions. On 26 September 1991 it closed a merger with the struggling state-owned
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134:(est. 1881) which was incorporated into Vienna in 1904-1905. After the creation of the Zentralsparkasse, these local savings banks continued to operate under the name
147:, then permanently set up in a neighboring building at Wipplingerstrasse 4. In the first year, 30,000 accounts were opened with deposits of 14.7 million
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174:. Despite the politicization, it was very well managed and by late 1937 had become larger than the Erste Spar-Casse by total assets.
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but sunsequently grew by taking over several smaller banks in Vienna. It was the key financier of the investments of the so-called
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which had been demolished in 1960. The building was extensively refurbished in 1988-1992 on a design by architects
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made the decision to establish the
Zentralsparkasse, following the development of municipal savings banks (
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Army
Service Forces Manual M360-5 / Civil Affairs Handbook Austria - Section 5: Money and Banking
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of 1938, the
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municipal government from 1919 to 1934, under the aegis of City
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in their respective districts, before fully merging into the
Zentralsparkasse in 1923.
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Former head office of the
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On 20 October 1905, the Vienna City
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eventually left its former building on
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319:"Zentralsparkasse der Gemeinde Wien bis Bank Austria (1905-1990)"
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The Zentralsparkasse began operations on 2 January 1907 in the
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