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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

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