Anadi Bank: 2023 another successful year on the way to becoming a digital bank

  • Net interest income doubles to EUR 48 million
  • Strong operating result of EUR 9 million, or EUR 21 million adjusted for special effects and transaction costs of the "Quadriga" project
  • Profit after taxes of EUR 1 million or EUR 10 million adjusted for special effects and transaction costs of Quadriga
  • Transfer of branch business and majority of SME business in Carinthia to GRAWE Banking Group as of September 2024
  • Strategy 3.0 for digital expansion in Austria and Germany is being intensified
  • CEO Christian Kubitschek: "Thanks to our full banking licence, our customer base in corporate and public finance and strategic investments in the digital sector, we will continue to grow profitably from a strong capital position"


Klagenfurt, 27th of February 2024 – Anadi Bank is fully on track with the implementation of its Strategy 3.0 and can look back on another successful year. The bank remains on a steep growth path and is pressing ahead with its digital investments. The successful signing of the "Quadriga" project in December 2023, which will see the branch business and significant parts of the SME business in Carinthia transferred to the GRAWE Banking Group in September 2024, represents a significant milestone. The Federal Competition Authority has already approved the transaction and preparations for the closing in September 2024, including regulatory approval, are underway.

High income from banking business again in 2023
In the operating banking business, income bubbled up again in the previous year: in 2023, the institute doubled its net interest income and thus achieved one of the highest figures in Anadi's history (2023: EUR 48.4 million; 2022: EUR 24.8 million). The operating result of EUR 8.7 million (2022: EUR 1.6 million) also increased significantly. Transaction-related special effects and costs that will materialise in 2024 were already accrued in 2023, but Anadi Bank still achieved a positive profit after tax of EUR 0.8 million in the past year. Excluding the transaction-related special effects and costs, the operating result totaled EUR 20.6 million and profit after tax EUR 9.8 million. This reflects Anadi Bank's operational strength in the past year, with all business areas contributing to this performance.

The bank served almost 57,000 customers across its four business divisions and realised more than EUR 200 million in new business volume in 2023. The number of employees based on full-time equivalents (FTEs) remained almost constant compared to the previous year at 231. Around 70 FTEs will be transferred to the GRAWE Banking Group as part of the Quadriga transaction in September 2024.

Total assets of EUR 2.5 billion, high capital ratios
Total assets in 2023 still include the business areas to be transferred to the GRAWE Banking Group and therefore amount to around EUR 2.5 billion. After the spin-off of the branch business and most of the SME business in Carinthia takes legal effect, total assets are expected to fall to around EUR 1.6 billion in September 2024. The bank will then focus on the Digital Banking and Public Finance business areas, both of which will continue to be managed from the headquarters in Klagenfurt, and on the corporate business, which will be managed from its Vienna office.

With a total capital ratio of 15.8% (including profit retention) as at 31 December 2023, Anadi Bank was once again comfortably above the regulatory requirements (31 December 2022: 16.0%). The additional capital released and generated by the spin-off is expected to increase this ratio to around 25%, which already considers additional growth planned for 2024 in the three remaining business areas of Digital Banking, Corporate and Public Finance. This will make Anadi Bank one of the best-capitalised banks in Austria and the entire DACH region and put it in an excellent position for further expansion as part of Strategy 3.0.

Strong performance from Corporate Banking and Public Finance
In 2023, Anadi Bank once again recorded strong earnings in the Corporate Banking and Public Finance business areas. Anadi Bank is the principal bank for many municipalities and public sector institutions. With its experience in residential construction financing and the granting of Carinthian housing subsidy loans, Anadi Bank is a proven and stable partner. The bank is a reliable partner for medium-sized companies thanks to its fast-decision-making process and financial products tailored to the needs of its customers. "In Corporate Banking and Public Finance, Anadi Bank continues to stand for reliability and handshake quality, which is also illustrated by the allocation of responsibilities: both areas are under my responsibility as CEO and customers are personally supported by me, together with our excellent relationship managers, in a trustworthy manner and via short decision-making channels", emphasises CEO Kubitschek.

High digital loan growth with digital refinancing
The Digital Banking division once again recorded strong growth in both loans and deposits in 2023. "Our digital DNA was once again clearly visible. The strong loan growth, which is underpinned by digital deposits, shows how solid our digital business model is. Thanks to our full banking licence, our customer base in corporate and public finance and strategic investments in the digital sector, we will continue to see profitable growth in the long term from a strong capital position", says CEO Christian Kubitschek.

After digital growth was initiated with Strategy 1.0 in 2020, the bank placed an even stronger focus on customer and market orientation in the digital age with its Business Strategy 2.0 and launched an extensive investment and modernisation offensive. As part of the current Strategy 3.0, Anadi Bank is working flat out on further digital expansion in Austria and Germany. One of the key success factors here is tablet-based banking, which is currently being marketed under the brands "MARIE" (cooperation with tobacco shops) and "Anadi Connect" (cooperation with financial service providers). More than 650 Austrian financial service providers already offer their customers banking services directly on site via Anadi Connect. The successful model will be launched on the German market in 2024, and further expansion into selected regions of the eurozone is also planned in the coming years, but not until 2025 at the earliest. The innovative business model, attractive services and high scalability with purely variable costs make Anadi Connect an attractive growth driver within Anadi Bank's digital strategy.

Strengthening the location, creating more jobs
Anadi Bank's growth also has a positive impact on Carinthia as a business location. Currently, more than 140 employees are already working in the digital banking sector, with almost 100 digital banking jobs having been created in Carinthia in the last few years alone. Anadi Bank is thus helping to strengthen Klagenfurt as a business location. In 2023, Anadi Bank launched a strategic cooperation with the University of Klagenfurt to specifically promote young talent and drive forward the development of promising topics such as digitalisation and AI in Carinthia. The institute is planning further new appointments over the next few years. "We will continue to create more digital jobs in Carinthia in the future and thus offer young talents and experienced financial professionals the opportunity to pursue a career in a digital bank in Klagenfurt. Training digital skills in the region is very important to us. That was one of the reasons for our research cooperation with the University of Klagenfurt", explains CEO Kubitschek and concludes: "As a highly capitalised full-service bank, we are embarking on the further expansion of our digital business - in Austria and beyond. We have digital expertise, decision-making speed, and a spirit of innovation. We also have expertise in credit, risk management and efficient banking processes. With this powerful combination, we will continue to write our success story from Carinthia."


Press release
  •  download


About Anadi Bank
Anadi Bank focuses on the business segments Public Finance, Corporate Banking and Digital Banking. The bank is consistently and vigorously expanding its digital offering. In Austria, Anadi Bank has already successfully placed digital consumer loans and tablet-based banking with the brands "MARIE" (cooperation with tobacco shops) and "Anadi Connect" (cooperation with financial service providers). In 2021, the bank entered the German market with the digital SME working capital loan. Following the launch of a strategic partnership with the Frankfurt-based FinTech CAPTIQ in 2023, the expansion course will be continued in the coming years and Anadi Connect will also be rolled out in Germany. Anadi Bank employs around 250 people in total. The spin-off of Retail Banking, including the majority of the SME business in Carinthia (closing planned for September 2024), is another milestone in Anadi Bank's Strategy 3.0.