Following the merger between Bank Austria and Creditanstalt, the two banks will move on to a single IT system on 10 August 2002. “Please rest assured that the migration will have no impact on our current custody settlement procedures, deadlines and especially the service range of Bank Austria, as our Bank Austria Custody System (BASCS) will remain in place. The only change will be on the BIC Code side, as mentioned above”, said a bank spokesman.
More details about the transition are promised in May. The general BIC Code of the merged banks will also change to BKAUATWW (i.e. the current Bank Austria BIC).