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139:. It was initially involved in mortgage credit, for which it became a dominant provider, and lending to industry and infrastructure projects such as railway construction. Following the Austrian financial crisis of 1873, it had to be rescued by emergency financial assistance from the Imperial government, which it reimbursed in 1875.
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The acquisition of
Verkehrsbank and Unionbank soon put the Bodencreditanstalt in jeopardy, mostly because of the burden associated with Unionbank. It delayed writing off the bad loans inherited from the two banks it had acquired, but that lack of transparency only compounded the loss of confidence.
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was established in 1864, initially as a discount bank. It soon developed as a universal bank, with investments in heavy engineering and machinery, paper, sugar, hospitality, and other industries. It was located from inception at
Wipplingerstrasse 28 in Vienna, which it had rebuilt in 1880–1883 on a
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acquired a stake in the
Bodencreditanstalt in the early 1920s, but withdrew in 1923 following a difference of views with Sieghart. The Bodencreditanstalt subsequently attempted to expand in Central Europe, but soon suffered from difficulties with some of its industrial borrowers, particularly
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From 1899 on, it also developed a significant portfolio of equity stakes in manufacturing businesses, including the textile industry. Unlike other
Austrian universal banks, however, it did not develop a branch network.
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220:. It was acquired by the Bodencreditanstalt in 1927, possibly as an intended offset to the acquisition of the much more troubled Unionbank at the same time.
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to acquire the ailing
Bodencreditanstalt, which in turn was at the root of Creditanstalt's collapse less than two years later, a major development of the
154:, appointed the Bodencreditanstalt's Governor in 1910, adopted an aggressive stance of rapid expansion and head-on competition with the Rothschild-led
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Former head office of
Bodencreditanstalt at Teinfaltstrasse 8 and Löwelstrasse 20, Vienna; erected 1884–1887 on a design by architect
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that
Creditanstalt should purchase its troubled competitor, albeit at a heavily discounted stock price.
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508:, Economic History Department, London School of Economics and Political Science
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The
Austrian Banking Crisis Of 1931: One Bad Apple Spoils The Whole Bunch
135:. It had strong aristocratic connections, and also managed money for the
455:"Das Ende der Boden-Credit-Anstalt 1929 und die Rolle Rudolf Siegharts"
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Building at Renngasse 1 in Vienna, Unionbank head office 1887-1926
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following its 1927 acquisition of two smaller troubled banks,
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privilegierte Allgemeine Ă–sterreichische Boden-Credit-Anstalt
459:Ă–sterreichische Zeitschrift fĂĽr Geschichtswissenschaften
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Share certificate of the Bodencreditanstalt, April 1906
352:, member of management 1874–1908, Governor 1908-1909
303:In October 1929, the Austrian government leaned on
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90:or simply "Boden") was an Austrian bank based in
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339:Joseph von Bezecny, Governor 1878-1904
267:became an autonomous institution, the
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182:intervened forcefully and persuaded
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320:Móric Almásy, Governor 1863-1873
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309:European banking crisis of 1931
73:General Land Credit Institution
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524:Wien Geschichte Wiki
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436:"Bodencreditanstalt"
397:, Governor 1919-1929
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160:World War I
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133:Simon Sinas
88:Bodencredit
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538:Categories
237:Unionbank
224:Unionbank
104:Unionbank
465:: 56–114
402:See also
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265:Prague
257:, and
92:Vienna
80:French
506:(PDF)
419:Notes
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