CaixaBank raises stake in Erste Bank

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Barcelona-based CaixaBank has raised its stake in Austria’s Erste Bank to 9.9%, gaining an extra representative on the Austrian bank’s board.

CaixaBank also renewed its partnership agreement with the Erste Foundation, the main shareholder of Erste Group Bank, which goes back to 2009.

The partnership makes CaixaBank part of Erste’s so-called “stable shareholders,” alongside other savings banks and some of their shareholder foundations and WSW, a holding company owned by insurer VIG.

Together they hold 30% of Erste Group Bank. Prior to the move, CaixaBank held 9.1% of Erste and reached 9.9%  by buying 3.5 million shares at market prices from the Erste Foundation.

CaixaBank will appoint the second board member in the first quarter of 2015.



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