Erste Group share rises: the president of the Tyrolean Savings Bank becomes a member of the board of directors of corporate clients – OGH cancels several clauses in the S-Leasing contracts | 07/25/22

Tiroler Sparkasse’s CEO, Hans Unterdorfer, will be promoted to the executive floor of Erste Bank Austria and will serve as a member of the Board of Directors for corporate clients from 1 September 2022.

Erste Bank announced on Monday that it will succeed Willibald Sirenko, who replaced Bernard Spalt as CEO of Erste Group at the beginning of July. The supervisory board has yet to approve the proposal.

Unterdorfer’s successor has not yet been determined. The bank announced that it will therefore remain at the head of Tiroler Sparkasse until a successor is found, but no later than October 31. Unterdorfer has been the CEO of Sparkasse in Tirol since 2011.

OGH cancels many clauses in suburban rental contracts

The Supreme Court (OGH) has declared that several clauses in the contracts of Erste Group’s S-Leasing company are inadmissible. The Consumer Information Association (VKI) had previously filed a case on behalf of the Ministry of Social Affairs. Among other things, tenants had to pay the costs incurred in the event of default, regardless of whether they were liable for default or not, VKI wrote in Monday’s broadcast.

Moreover, the Supreme Court declared an inadmissible clause, according to which the renter is liable for every misuse of the tire purchase card – even if the misuse was committed by third parties. Additionally, the damages settlement clauses are not transparent. The terms of entitlement to these fees are not specified.

It is also unacceptable for consumers not to have a choice as to whether the rental fee prescriptions are made electronically or by mail. “People who do not have the technical means to receive ‘e-mail’ – eg because they do not have an e-mail address – there is a risk that they will not receive rental fee regulations, says VKI responsible attorney Maximilian Kemtmüller. Shares of Erste Group Bank rose 2.43 per cent. in Vienna to close at 24.46 euros.

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