Best bank 2025: Erste Group
Erste Group’s standout performance in Austria in 2024 was driven by digital enhancements, product innovation, and a strengthening of its client-focused offering.
On the digital side, the bank made a series of improvements to its product suite. A key digital development was the implementation of “Claire”, an AI-powered internal chatbot launched in August 2024. Claire benefited clients and staff by streamlining internal processes, reducing response times, and freeing up frontline teams to focus on more value-add, personalised services.
Alongside this, the bank continued to evolve its George platform, introducing features such as George Tips, George Fit and George Spotlights to help customers better manage their financial health.
Another area where Erste Bank stands out is in product innovation. In autumn 2024, the bank made investing more accessible by launching four new securities account models tailored to different investor profiles. Responding directly to client needs and supporting long-term financial wellbeing, the bank also introduced an EIF-guaranteed student loan to address Austria’s vocational training financing gap.
As part of its ESG commitment, Erste Bank provided €100 million in emergency relief to Austrian households and businesses affected by severe flooding in 2024. The bank provided swift, low-interest financing of up to €50,000 per applicant, ensuring rapid access to essential funds during a time of crisis.
Best digital bank 2025: BAWAG
BAWAG has made tangible progress on its digital transformation journey, evolving into a digital-first bank while preserving its branch network as a hub for high-quality advisory services.
A fundamental element to this evolution is the harmonisation of online and in-branch processes, which has enabled the bank to digitise 90% of its retail and SME product offering. This shift has allowed routine administrative tasks to move online, freeing up physical branches for more meaningful customer engagement and advisory support.
The bank is undergoing a comprehensive modernisation of its Austrian and select German branches, with eight branches revamped in 2024 and plans to upgrade 10 more in 2025. By the end of 2025, BAWAG will have overhauled its entire 70-branch advisory network, integrating digital capabilities with personalised service. Complementing this transformation is the rollout of 300 new self-service devices that are designed to offer intuitive, user-friendly access to daily banking needs. These investments, amounting to approximately €200 million ($234 million), reflect BAWAG’s strategic pivot following its separation from Austrian Post.
Digital channels now account for more than 70% of new business originations, a result of the bank’s multi-channel and multi-brand strategy that includes partnerships, broker networks and online platforms. BAWAG has focused on building a seamless customer journey across all touchpoints, underpinned by a commitment to transparency, simplicity and 24/7 availability.
Further underlining its digital push, the bank launched a customer loyalty programme in Austria, offering up to 45% cashback on account management fees. This initiative not only boosts engagement with core products but also strategically promotes retirement planning solutions, reinforcing BAWAG’s focus on long-term customer value.
Best bank for large corporates 2025: UniCredit
UniCredit’s recent developments build on its role as a strategic financial partner, continually enhancing its coverage model and product offering to deliver both value and foresight in a rapidly evolving corporate landscape.
The lender secured the top spot in Austria for corporate loans and syndicated loans in 2024, both in terms of deal volume and number of transactions.
This dominant position reflects its deep-rooted relationships with large corporates, many of which rely on the bank as their primary financial partner. Backed by the broader UniCredit network, the bank offers clients seamless access to a full suite of investment banking solutions, from standardised products to complex, bespoke structures, tailored to the evolving needs of multinational corporations, financial institutions, and public sector and commercial real estate clients.
A major area of strategic focus for the bank’s corporate segment has been ESG-linked financing. The bank is actively integrating sustainability risk considerations into its lending processes, requiring corporate clients to disclose relevant ESG data. This allows the bank to assess transition risks and formulate customised financing solutions that support clients’ climate transition plans. By leveraging UniCredit’s sustainable finance advisory team, the lender enriches these engagements with deep ESG expertise and capital markets know-how, helping clients navigate and tap into the growing European green finance market.
The bank has also embraced innovation in ESG data management by joining the OeKB ESG Data Hub earlier this year. This national platform facilitates more efficient, standardised ESG data collection and sharing, allowing for easier comparison across sectors and streamlined risk assessment. This initiative underscores the bank’s commitment not only to sustainability but also to regulatory preparedness, ensuring that its corporate clients remain compliant and well-positioned amid tightening ESG requirements.
