Socialpost

Complete News World

The Volksbanks Association continues its successful run in the first half of the year

The Volksbanks Association continues its successful run in the first half of the year

The Volksbanks Association continues its successful run in the first half of the year

Volksbank Vienna (Photo: Robert Polster)

Vienna (A) In the first half of 2023, Volksbanks accelerated growth in client business through various measures. In this way, the Volksbanks Association aims to meet the needs of its clients. Meanwhile, Volksbanks improved its international ratings.

With Austria’s future billion, Volksbanks primarily wants to cover the investment needs of local SMEs and expand the scope of commercial loans with financing volumes of up to 1 billion euros.
With a green bond of €500 million, VOLKSBANK WIEN AG has presented a much-sought-after sustainable investment opportunity for institutional investors.

Pfandbrief’s 3.125% VOLKSBANK WIEN AG Covered Bond 2023 – 2025 / Series 6 is a trustworthy investment option that can be subscribed from April to June. Another trustworthy product is currently being subscribed through mid-September, Pfandbrief 3.25% VOLKSBANK WIEN AG for Covered Notes 2023 – 2025 / Series 2. It is rated Aaa (Moody’s) and a mortgage-backed cover pool as a private fund. Investing in securities involves risks as well as opportunities. Volksbank’s advisors are happy to answer any questions.

Sustainability: Volksbanks supports local businesses with sustainable products, quality advisory services and information on sustainability, such as a free sustainability guide. Together with the Austrian Association of Cooperatives (ÖGV) and PowerSolution Construction and Operation GmbH, Volksbanks is financing renewable energy systems as part of the Austrian klimaaktiv program for green entrepreneurs and supporting the creation of energy cooperatives. Volksbanks also sponsors the Green Marketing Award.

At the end of February, Moody’s upgraded the deposit rating of VOLKSBANK WIEN AG from Baa1 to A2. The outlook for long-term deposit ratings is stable. Meanwhile, the rating agency upgraded the bank’s basic risk rating from Baa2 to Baa1. Moody’s justifies the upgraded rating on the bank’s successful restructuring.

See also  China's central bank wants to do more to stimulate the economy

Sustainalytics, one of the leading sustainability rating agencies, has improved the ESG risk for VOLKSBANK WIEN AG from 17.4 to 10.2. In the “Regional Banks” category, VOLKSBANK WIEN AG now occupies an excellent 10th place – out of a total of 426 banks worldwide.

Today the Volksbanks Association published good results for the first half of 2023. The half-year result after tax was 169.5 million euros, and net interest income rose to 343.5 million euros. Net commission income improved to €133.5m and trading result was €3.1m.

He added: “The good half-year result confirms that we are on the right track. Volksbanks continues the successful strategy of a modern, decentralized association. “The focus is on Austria and all regions, the focus is on the core business, A trusting relationship with customers and partners, and a wide spread of risk are the cornerstones of our strategy.” Volksbanks Association.

Claims on clients rose to €22.4 billion, with good development in SME financing able to offset the decline in the private residential construction business. Customer deposits fell to €21.5 billion, mainly due to customers switching to Volksbank private issues and Union Investment funds.

Share on social media:
Facebook
linkedin
xing


Volksbank Vienna AG