Bank has informed that the Austrian Supreme Court rejected yesterday all appeals in relation to the clarification of cartel and competition issues relating to the cross-guarantee scheme between Erste
Bank and the Austrian savings banks.
The final resolution of a year-long legal dispute relates to the BA-CA allegation of "prohibitive practices" (aiming to prohibit Erste
Bank and the savings banks from the further implementation of the cross-guarantee system) as well as the appeal by the competition authorities against the decision of the Cartel Court whereby the conclusion of an additional agreement between Wiener Neustädter Sparkasse (serving as a role model) with Erste
Bank meets all antitrust criteria for a business combination. We expect a neutral trading reaction on the news today.