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2021/04/14 / Erste Group Research

OeKB - Oesterreichische Kontrollbank

Oesterreichische Kontrollbank (OeKB) is the main financial and information services provider for the export industry and capital markets of Austria. Moreover, the credit institution is assuming a key role within the government´s COVID-19 relief program.

Based on the statutorily regulated export financing scheme, with staff of close to 500, OeKB manages a guarantee volume of approximately EUR 31bn, as well as export loans of around EUR 23bn as at year-end 2020.

Total assets increased by more than 6% to over EUR 35 billion in 2020, reflecting a higher volume of export financing, partly due to government COVID 19 aid measures. The net result was only slightly lower at -7% to EUR 47.7 million. The capital ratio was 77.4% (CET 1).

OeKB is the largest bond issuer among Austrian agencies with roughly translated EUR 23bn outstanding. Further, since 2019, a Sustainability Program is offered. All OeKB bonds carry an explicit, unconditional and irrevocable guarantee of the Republic.
The bank´s strong ESG profile including highly developed governance structures is reflected in excellent ESG ratings. Moody's rates OeKB at Aa1/stable, while Standard and Poor's rates it at AA+/stable, both equal to the ratings assigned to the Republic of Austria.

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General information

AuthorErste Group Research
Date2021/04/14
Languageen
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria
Currency in focusEuro
Sector in focus-
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