Bank Austria shareholders approved the merger with HypoVereinsbank with an overwhelming 99.8% of those at the extraordinary general meeting voting in favour of the deal.

The €7.8bn ($7.1bn) deal will create the third largest banking group in Europe, making Bank Austria the market leader in Central and Eastern Europe. The group will have more than 65,000 employees, total assets of €667bn and equity capital in excess of €17.3bn.