The result from ordinary activities (EGT) increased by 65 percent to 12.5 million euros. “In addition to the head office in Salzburg, our branches in the regions of Pinzgau, Tyrol, Upper Austria, Vienna and Styria have made a significant contribution to this,” says Werner G. Zenz, spokesman for the board of Austria’s oldest private bank with around 270 employees. The bank is family owned.
According to Zenz, the increase in earnings is only partly due to the rise in interest rates, which was noticeable in the fourth quarter. Above all, many customers have been won, and the commission business has gone very well. The bank is active in the areas of private banking/wealth management, deposits/loans, advising family businesses.
The customer volume remained stable in the previous year at around 9.7 billion euros. The declines due to falling share and bond prices were compensated for with inflows from new business. The online wealth management company “Carl” has managed assets of more than 150 million euros.
As reported, the head of the Linz location will be Rudolf Eder from July 1st. Johann Penzenstadler says he is happy to retire with the record result. With 17 employees, Upper Austria contributed 13 percent to the overall result.
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