Austria benefited not only from EU membership and the Single Market, but also from the fall of the Iron Curtain in 1989 and from the transition and integration process in Central and Eastern Europe, including Southeastern Europe. FDI in the region and bilateral trade have intensified very markedly. Bilateral trade with Central and Eastern Europe has tripled since 1993 in real terms.
Austrian companies in general, and Austrian banks in particular, were quick to identify market opportunities in Central, Eastern and Southeastern Europe and have established a considerable presence. With an average market share in banking sector assets of almost 25%, Austria’s banks are among market leaders in this region.