Risk assessment and control are essential processes that are integrated into the OeKB Group’s business strategy in order to ensure the security and profitability of the company long-term. Our risk policy is thus oriented to securing a stable return on equity based on a conservative approach to business and operating risks.
As a special banking group, the OeKB Group carries special responsibility. This impacts our business and risk policy and explains why we have put an integrated risk management framework into place with individual components which are closely geared to each other. This includes risk policy and strategy as well as risk identification, assessment and control, compliance, internal controlling and auditing.
The OeKB Kreditinstituts-Gruppe (KI Group) comprises the companies of the OeKB Group which have a banking licence, in other words, OeKB, OeEB, ÖHT and OeKB CSD. As an official export loan agency and central service provider for the capital market, the OeKB KI Group also carries special responsibility towards the Austrian economy and towards its stakeholders. This also impacts our business and risk policy.
The legal and regulatory framework of the OeKB AG is different from that of other banks because of its special tasks and business areas. On the one hand, OeKB AG must comply with special legal regulations such as the Export Guarantees Act (AFG) and the Export Financing Promotion Act (AFFG). On the other hand, the business dealings of OeKB AG are exempt from various ordinance standards.
The export financing scheme represents by far the greatest portion of the balance total which is managed as its own accounting entity. In this area, the OeKB AG is exempt from the relevant statutory regulations such as the EU Regulation on prudential requirements for credit institutions and investment firms (EU) No 575/2013. The export financing scheme is managed as a shared risk in the OeKB Group risk coverage for which it carries out its own risk coverage accounting.
Another essential exemption for OeKB concerns liquidity regulations as well as European and national regulations on bank unions (such as the directive for the recovery and resolution of credit institutions and investment firms). These exceptions apply analogously to a great extent on the subsidiaries of the KI Group, Oesterreichische Entwicklungsbank AG, Österreichische Hotel- und Tourismusbank GmbH and OeKB CSD GmbH as well.
Further information about our risk management
You can find comprehensive information about our risk management system in the Financial Report of the OeKB Group.