VR Bank has double-digit growth in difficult times

The pandemic has only slightly affected the business operations of VR Bank, but has resulted in a high demand for advice and help. All in all, 2020 was a very successful year for the cooperative bank.

VR Bank Bergisch Gladbach – Leverkusen brought “very good results” last year, according to the bank’s first balance sheet. The preliminary business figures showed that the Bank was able to expand its market position in private and corporate banking, in private housing finance and real estate brokerage.

The corona pandemic also ensured that the demand for innovative financial services and personal advice was high. “It was and is our aim as a cooperative bank to be there for our members and customers, especially in these difficult times,” says CEO Lothar Uedelhoven.

Lockdown raises a lot of questions

During the lockdown, companies in the region had many questions about financing, liquidity and public support programs. In many cases, it was also about further expanding existing business models.

At the same time, the demand for private housing finance developed “extremely positively”. Overall, the lending business once again proved to be a key growth driver.

The total loan volume rose by a good ten percent to 1.623 billion euros. This includes loans to companies for investments in machines, vehicles and business real estate, but also loans for private housing finance and consumer loans.

The customer deposits grew by 7.2 percent to 1.845 billion euros. The bank’s total assets also grew in double digits, by 10.3 percent to 2.366 billion euros.

Number of members rises to over 48,000

As before, membership of VR Bank is highly attractive. The number of cooperative members grew by a good 300 to 48,062 shareholders; This means that the bank remains by far the largest association in the region. More than half of the bank’s customers are also members.

320,000 euros for charitable projects

As an institute with roots in the region, VR Bank has always been involved in charitable projects. Around 400 projects were funded in 2020. The total donation and sponsorship volume was a good 320,000 euros.

Since many non-profit organizations are affected by liquidity bottlenecks as a result of the corona pandemic, VR Bank is also in intensive exchange with the associations and was able to support the volunteers in many places.

Branches modernized

VR Bank sees its strong presence in the region with 24 branches between Langenfeld in the north and Rösrath in the south as an important basis for its success.

In Rösrath, the bank started a comprehensive modernization process in November, and the branch is to be given a completely new look by March. “This construction project is a clear commitment to the Rösrath location”, emphasizes board member Alexander Litz.