Raiffeisenbank Wels invested a total of nine million euros in 2022. The focus was on two areas outside of the classic banking business: real estate and energy.
The Raiffeisenbank is increasingly acting as a landlord. In the summer, for example, 30 apartments were bought in the 14th district of Vienna, and the company was already involved in their development. The bank rents out more than 100 apartments in Wels and the surrounding area.
Photovoltaic systems were installed on the roofs of several branches in the previous year. Solar power is already being generated at ten of the eleven bank branches. In the next few months it will be the turn of the Laahen trade and service centre, which belongs to the Raiffeisenbank. “By the end of 2023 we will be producing around 260 kilowatt peak solar power. This will cover around half of the bank’s total electricity consumption,” said Günter Stadlberger, CEO of Raiffeisenbank Wels, at the balance sheet presentation on Wednesday.
Gas boilers are to be replaced by heat pumps or pellet heating systems in four branches this year. “We define sustainability goals for each financial year and implement them,” said Stadlberger. The vehicle fleet is gradually being converted to electric, and electric bicycles are being promoted for employees.
The bank’s lending volume increased by around ten percent last year. This growth and higher interest rates have led to a 54 percent increase in earnings. For this year, Stadlberger expects “less growth and a stable result”. In view of the difficult economic development and rising interest rates, loan risk provisions were slightly increased to five million euros. Stadlberger does not see the stricter allocation rules decreed by the supervisory authorities as the only reason for the decline in housing finance (minus 29 to 231 new loans in 2022), but they are “awkward in terms of craftsmanship”.
General criticism from consumer advocates that interest rates on savings are not adjusted upwards so quickly is countered by Stadlberger: With capital savings accounts, Raiffeisenbank Wels has 2.75 percent over twelve months and four percent over 60 months. With money due on demand, the consultants would have the authority to give up up to two percent in negotiations. That has to be handled on a case-by-case basis.
Welser Bank is the largest regional Raiffeisen bank in Upper Austria. Stadlberger will be 65 at the end of next year. Therefore, there will be a new person at the top in early 2025, as confirmed by Stadlberger.
facts and figures
- Raiffeisenbank Wels, financial year 2022:
- Total assets: 1.785 billion euros (plus 5.7 percent)
- Number of customers: 36,058 (plus 2.9 percent)
- Credit volume: 1.534 billion euros (plus 10.1 percent)
- Savings book/account deposits: 1.365 billion euros (+6.6%)
Total deposits including securities, building savers: 1.835 billion euros (plus 0.7 percent)
- Operating result: 23 million euros (plus 64 percent)
Profit from ordinary activities (EGT): 20 million euros (plus 54 percent)
- The bank has 116 employees (96 on a full-time basis), eleven branches in Wels/Wels-Land and 7132 cooperative members.