Walser Privatbank

Walser Privatbank is a bank with headquarters in Hirschegg, Austria. It was originally founded in 1894 as the regional Spar- und Darlehenskassenverein Mittelberg. Today's business focus has shifted to private banking, especially for customers with assets of at least 300,000 Euros from Germany. Due to its location in the Kleinwalsertal customs exclusion area, Walser Privatbank lies in German economic territory, but not under the jurisdiction of German customs. "The Kleinwalsertal benefited from Austrian banking secrecy for many years as a banking location."[3]

Walser Privatbank
TypeJoint-stock company
Founded16 June 1993[1]
HeadquartersHirschegg, Styria, Austria[1]
Products
[1]
Total assets€451.8 million (2018)[1]
Number of employees
139 (2019)[2]
ParentRaiffeisen Banking Group (Austria)
Websitewww.walserprivatbank.com

Business activity

The company as a stock corporation specializes in customers with liquid fixed assets of more than 300,000 Euros. The business volume amounts to just under 2.9 billion Euros (as of 31 December 2017). In addition to its headquarters in Kleinwalsertal (Austria), the bank has branches in Düsseldorf and Stuttgart. It has around 140 employees.

History

The bank was founded in 1894 as Spar- und Darlehenskassenverein Mittelberg in Kleinwalsertal, Austria. It was renamed Raiffeisenbank Kleinwalsertal in 1964 and Walser Privatbank AG in 2010. In 2011 branches were opened in Düsseldorf and Stuttgart.[4]

In 2016, proceedings were brought against bank employees on suspicion of aiding and abetting tax evasion. Walser Privatbank paid a fine of more than 5.4 million Euros.[5]

References
  1. "Walser Privatbank AG". TheBanks. Retrieved 13 November 2019.
  2. "Walser Privatbank AG". Bloomberg. Retrieved 13 November 2019.
  3. "Unsere Eigentümerstruktur ist ein Vorteil". Handelsblatt. 5 May 2011. Retrieved 13 November 2019.
  4. "Herkunft und Entwicklung". Walser Privatbank. Retrieved 13 November 2019.
  5. "Alte Selbstanzeigen liefern Spuren zu neuen Steuerhinterziehern". Süddeutsche Zeitung. 4 October 2016. Retrieved 13 November 2019.
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