APA ots news: Volksbank half-year results: Solid basis for supporting the domestic economy
With a solid half-year result, the
Volksbanken-Verbund provides the basis for further support of
domestic economy.
Vienna (APA-ots) – After the unique record year of 2023, the
Volksbanks under
Taking into account the changed economic environment for this year again
ambitious goals. “As the house bank of the Austrians,
As Austrians, we feel committed to the individual regions.
For more than 170 years, support for regional
Economic cycles to the cooperative principles according to which
the Volksbanks operate,” says Gerald Fleischmann,
General Director of VOLKSBANK WIEN AG and Spokesman of the Volksbanken-
Group, the fundamental values of the banking group.
A value attitude that is also reflected in the figures for the first
half of 2024. The amount of payments to customers increased
Funds granted to customers (loans and advances to customers) amounted to 22.95 billion
Euro – an increase of 583 million euros compared to the first half of the year
2023. Customer deposits grew compared to
Compared to the same period last year, it increased by around 5.7% to 22.8 billion
Euro. The Common Equity Tier 1 capital ratio (CET1) was 15.1%, which is
once again significantly exceeds regulatory requirements.
Great confidence from the business community
Gerald Fleischmann, General Director of VOLKSBANK WIEN AG and
Spokesman of the Volksbank Association: “These figures signal
once again that the path of growth we have taken on
a solid basis is still the right one. For this, our
Employees, but also the officials
officials and our owners. Essential for our
Growth is above all the loyalty and trust of our customers
and customers.” The latest entrepreneur study, which is conducted annually
by the Gallup Institute in cooperation with the Volksbanken-Verbund
is carried out, certifies the regional house banks of the
Volksbanken-Verbund in terms of trust and recommendation
Top values among Austrian entrepreneurs and companies.
Entrepreneurs: Billion to boost economy
The solid half-year result and the high level of confidence of the
Business people are also a task for the Volksbanks
for the future. A focus of work in the coming months
is therefore set with the entrepreneur billion. With a
Billion euros in credit volume will be provided by the Volksbanken Österreichs
Support companies to strengthen the regional economy
Last year, the Volksbanks sold 95,
8% of all financing is carried out in the respective region. “The
Volksbanks invest their customers’ money locally
and support companies in the transformation
towards sustainability and circular economy. For us, this is
lived sustainability,” explains Fleischmann.
Support for sustainable action by Austrian SMEs
That sustainability, social responsibility and regionality are
Austria’s entrepreneurs have top priority,
The already cited entrepreneur study 2024 also proves this. 88%
of respondents stated that sustainability is a very important or
important aspect of their entrepreneurial activities, for 87%
social responsibility important to very important and for 76% of
Regionality plays a large or very large role for respondents (
Multiple answers were possible). In order to support Austrian companies in
To support the issue of sustainability, the Volksbanken-Verbund
together with the Austrian Cooperative Association (ÖGV)
recently the fourth edition of a free sustainability
-Guide published.
Economic environment in the first half of 2024
According to Statistics Austria, the Austrian
Economy still in recession. In the first quarter of 2024,
Gross domestic product fell for the fourth time in a row and
decreased by 1.1% compared to the first quarter of the previous year.
In the previous quarters, the economy had shrunk by as much as 2.0%.
The declining economic output is due to – according to
Statistics Austria – primarily due to declines in industry
and wholesale trade, the economy is supported by the private
Consumption. According to a first flash estimate by WIFO on 8 August,
economic development will continue in the second quarter of 2024
did not recover and stagnated compared to the second quarter of the
previous year.
Volksbanken-Verbund: More loans – higher deposits
The amount of the contributions made by the banks of the Volksbanken association to
Loans granted to private individuals and companies rose in the first
Half year 2024 to 22.95 billion euros (30.06.2023: 22.36 billion euros)
The total deposits rose to 22.76 billion euros, an increase
of 5.7% compared to the reporting date of 30 June 2023. The generated
Net interest income was – not least as a result of the market’s already
anticipated interest rate turnaround – at 327 million euros (first half of
2023: EUR 343.5 million). Net commission income increased compared to
Compared to the same period last year, the figure rose by almost 5% to 140.1 million.
good cooperation between the credit institutions of the Volksbanken association and
Union Investment, which was founded in 2015, was extended until
Extended until 2035. Gerald Fleischmann, General Director of VOLKSBANK
WIEN AG and spokesman for the Volksbanken Association, emphasized on the occasion
the extension of the cooperation agreement: “For the joint
For success in the investment sector, a strong foundation of trust is essential.
We value Union Investment as a strong and reliable partner
very much, which helps us to meet the needs of our customers and
customers.” The operating result was 164.2 million
Euro, below that of the record half-year of 2023.
the result through increased risk provisions, which have their roots in the
weak economic development.
VOLKSBANK WIEN AG: Results of the first half of 2024 in detail
The volume of loans granted increased at VOLKSBANK WIEN
AG to almost 6 billion euros (5.94 vs. 5.71 as of June 30, 2023).
The amount of deposits, at EUR 6.35 billion, was also higher than
which was recorded as of June 30, 2023. The interest surplus came
to be 81.8 million, the commission surplus improved
amounted to 38.3 million euros. The operating result was 65.2
million euros.
Gerald Fleischmann comments on the results as follows:
“After the unique record year of 2023, we have – of course with
Consideration of the changed environment – again ambitious
We set ourselves targets. Deposits and loans recorded a
good growth and are just as with the commission income
above the same period of the previous year.” The interest margin in
Austria has already decreased and the board assumes
that with the reaching of the interest rate zenith and the market expectation
falling interest rates on a longer-term trend of smaller
interest rate margins.
Further information on the half-year results 2024 of
VOLKSBANK WIEN AG and the Volksbanken-Verband can be found on the
Website at www.volksbankwien.at/investor-relations in the section
Reports can be retrieved.
The Volksbanken Association
The Volksbanken-Verbund is an Austria-wide operating
Banking group, which includes the eight regional Volksbanks, the
Austrian Doctors and Pharmacists Bank and the SPARDA-BANK brand
The central organisation of the association has been the
VOLKSBANK WIEN AG. The Volksbanken Association has a
Total assets of 30.8 billion euros and 3,128 employees (
full-time equivalents) in 232 sales outlets around 1 million customers
or customers throughout Austria (as of 30.6.2024). Further
Information at www.volksbank.at or
www.volksbank.at/nachhaltigkeit . The information presented here
serve, despite careful research, exclusively the
Non-binding information. Subject to misprints and errors.
VOLKSBANK VIENNA AG
VOLKSBANK WIEN AG has 1,282 employees (
full-time equivalents Group) and 54 sales offices in the regions
Vienna, Burgenland, Weinviertel, Waldviertel and Industrieviertel as well as
the Austria-wide brand SPARDA-BANK is the largest of the
Austrian Volksbanks. In addition to its own retail business
VOLKSBANK WIEN AG has been fulfilling the requirements of the central organisation
also overarching tasks for the Volksbanken Association (as of 30.06.
2024). Further information at www.volksbankwien.at or
www.volksbank.at/nachhaltigkeit . The information presented here
serve, despite careful research, exclusively the
Non-binding information. Subject to misprints and errors.
Note: The Volksbanken Association attaches great importance to diversity
and equality between all genders. For reasons of
For better readability, the simultaneous use of male,
female and diverse language forms. All
Personal names apply equally to all genders.
Image(s) for this release can be found in the AOM / Original Image Service
and in the OTS image archive at
Inquiry note:
VOLKSBANK VIENNA AG
Dir. Wolfgang Layr, KR
Phone: +43 1/40137 – 3550
E-Mail: wolfgang.layr@volksbankwien.at
Digital Press Kit:
*** OTS-ORIGINALTEXT PRESS RELEASE UNDER EXCLUSIVE
RESPONSIBILITY FOR CONTENT OF THE PUBLISHER – WWW.OTS.AT ***
OTS0024 2024-08-22/09:07
AXC0069 2024-08-22/09:13
