Category: Banks. Country: Argentina.
The Bank was established in 1971 when its predecessor, Compania Financiera Interfinanzas 5.A. (CIFSA), commenced business in Argentina being its shareholders San Mateo S.A. (80%) and Dow Chemical (20%). In 1976, the Central Bank gave approval for CIFSA to operate as an investment bank and in the following year it was fully licensed to operate as a commercial bank (Banco Interfinanzas S.A.). At the beginning of 1989, Creditanstalt AG acquired a 20% stake in the bank and increased it to 30% in 1990. With the new shareholder's support the bank focused its activities on wholesale banking, specially in foreign trade related business. The bank is a limited liability company ("Sociedad Anonima" under Argentine law) owned each 50% by Bank Austria Creditanstalt International AG, Austria, and San Mateo S.A., an Argentine holding company. As a result of the reorganization process within the Austrian group (after the acquisition of Creditanstalt by Bank Austria AG in 1997) Creditanstalt's shareholding in Banco B.I.Creditanstalt S.A. was transferred to Bank Austria Creditanstalt International AG, the newly created 100% subsidiary of Bank Austria AG responsible for the international activities of the group as of December 1998. Creditanstalt AG continues to operate in Austria as domestic commercial and retail bank. Banco B.I. Creditanstalt S.A. will remain subject to supervision on a consolidated basis by the Austrian banking authorities. Bank Austria AG is the leading Austrian Bank with USD 140 billion in assets and a capital base of USD 10 billion dollars.
Address: 1106 Bouchard 547, 24th / 25th floor, Buenos Aires, Phone: 54 11 4319 8400 Fax: 011 4319 8230
