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Annual balance sheet – a successful year for Volksbank Niederosterreich

Annual balance sheet – a successful year for Volksbank Niederosterreich

Created April 11, 2023 | 20:00

Reading time: 2 minutes

Volksbank Lower Austria

Managing Director Rainer Kunel presented the balance sheet ofVolksbank Lower Austria.

Michael Chartner Photography, Michael Chartner Photography

2022 was a very good year for Volksbank Niederösterreich: the state’s money was paid off, the headquarters in St. Polten were modernized and the total balance sheet rose to 3.67 billion euros.

A new era began for Volksbank Niederösterreich in 2022: the state money – after all, 300 million euros for the entire Volksbank sector – was paid early and the restructuring was completed. The total balance sheet increased by 1.3% to a total of €3.67 billion – as a result of normal activities to €29.2 million.

“2022 was a successful year for us, as we also laid an important foundation for the future,” CEO Rainer Kuenl confirms. Special focus is currently on sustainability. Conley: “For us, this isn’t just talk, it’s a daily practice.” The portfolio of sustainable funds in terms of sales partner Union Investment’s ESG criteria has been increased to 36 percent – and is set to increase further. In terms of sustainability, as well as efficiency, the head office in St. Polten has been modernized – and resized at the same time. The 180 employees, who previously had 5,000 square meters of office space at their disposal, now manage half of the space. “Because of telecommuting, space requirements have dropped dramatically in recent years,” Connell explains. Sustainable materials were used during the conversion, and of course a photovoltaic system was installed on the roof. The vacant building on Brunngasse has already been sold to a real estate developer.

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Kuhnle does not anticipate the fate of Credit Suisse in the EU

Kuhnle expects further growth in 2023, although the tightening equity guidance for loans to homebuilders and homebuyers is also significantly dampening demand at Volksbank. There are also growing questions about the stability of the banking sector. Kuhnle does not foresee a Credit Suisse-like collapse within the EU: “The banks’ regular stress tests accurately simulate such scenarios.”