Image: (VKB/Lauringer)
After the doubling of the operating result in the previous year to 21.3 million euros, the VKB board expects a further jump to more than 35 million this year, said board spokesman Markus Auer at the final presentation of the previous year’s figures.
The result from ordinary business activities increased by “only” 27 percent to 18 million euros due to increased risk provisions. This year, the ECB interest rate hikes would have a full impact, with Auer stressing that not only would lending rates rise, but also deposit rates. A Euribor-linked online savings offer would also mean an automatic increase for savers.
One of the three strategic pillars, housing construction financing, is sticking. According to Auer, the number of new contracts per branch is 40 to 60 percent behind the previous year. Corporate finance is doing well. Sales Director Alexander Seiler reported that the mood among customers was “good”.
Because the number of branches was reduced from 34 to 28, the relationship between costs and income has improved significantly: the cost-income ratio has fallen from 86 to 76 percent. As reported, there has been a branch in the first district of Vienna since the end of 2022. The Supervisory Board prematurely extended Auer’s contract until the end of March 2029.
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