The Raiffeisen Banking Group was founded in 1886 by Friedrich Wilhelm Raiffeisen (1818-1888), one of the most important social reformers of the 19th century. The original goal was to provide basic banking services to the rural population based on cooperative principles.
With a balance sheet total of approx. 28.6 bn EUR as of HY 2016 (IFRS), Raiffeisenlandesbank Niederoesterreich-Wien AG (RLB NW) ranges among the top 6 Austrian commerical banks. RLB NW was founded in 1898 and is headquartered in Vienna.
As the largest shareholder of Raiffeisen Zentralbank and ranking itself amongst the top 6 commercial banks, Raiffeisenlandesbank Niederoesterreich Wien (RLB NW) is a very important part of the Austrian Raiffeisen Banking Group which consists of a three tier structure.