The BAWAG experienced rapid expansion throughout Austria, from an existing network of 26 offices to 120 by 1982. The shareholder "Konsum" went bankrupt in 1995, which sent shockwaves through the political landscape in Austria, especially for the social democrats. The Bayerische Landesbank bought the shares and increased its stake to 46%. In 2000, BAWAG successfully took over a majority of shares of the Österreichische Postsparkasse (P.S.K.) bank, buying 74.82% of the shares from the government. In November 2003, the remaining 25.18% were bought up as well. The merger, which was not finalized until 2005, created the country's third-largest bank group with a balance sheet total of nearly 45 billion euros, 5000 employees, some 2000 outlets (including branches where P.S.K. has been already located) and over one million private customers (2000). The new BAWAG/P.S.K. Group now had the largest centrally managed sales network in Austria. With the combined assets, the new group BAWAG/P.S.K. experienced further growth. The piano manufacturer Bösendorfer was bought from the American company Kimball International in 2001. Since the fall of the Iron Curtain and the prospect of an accession of Central- and East European countries to the EU, new market opportunities open up. In 2002, the Slovakian bank Istrobanka is bought, a year later the Czech bank Interbanka. Both equities are owned 100% by the BAWAG. The new partners opened up opportunities to expand in retail banking and intended to open new branches throughout Europe. In 2004, BAWAG acquired 100% of the shares of Dresdner Bank CZ, integrating it into the Interbanka, now renamed as BAWAG Bank CZ. The management decided to transfert as much capital as possible from the holding to the operative bank, so that a 1,5billion euro debt of the ÖGB were inherited by the bank. The Bayerische Landesbank sold its 46% share in 2004 to the other shareholder, the Austrian Trade Union Federation (ÖGB). With that deal, the ÖGB became sole owner of the BAWAG. Since the Refco scandal in October 2005, which involved bad loans in the amount of 425 million euros, the bank almost defaulted on its obligations and had to be bailed out by the conservative government of Wolfgang Schüssel. This has cast doubts about the future of links between the socialist-led unions and the bank.