Record for Austrian Savings & Loan Associations

Published: February 19, 2011; 12:50 · (Vindobona)

Savings & loan associations exceeded the one million mark for the second time in 2010. Cash disbursements amounted to € 3.1bn.

Record for Austrian Savings & Loan Associations / Picture: © Vindobona.org

"2010 was a successful year for savings & loan associations: for the second consecutive year record results were reached. 1,035,768 new construction savings contracts are proof to the high popularity of savings & loan associations", says Mag. Manfred Url, Chairman of the Forum of Austrian Saving & Loan Associations about the excellent business of last year. Saving with a savings & loan association is one of the most widely used forms of savings, relied on by two out of three Austrians. This is also shown by the barometer for savings and investment methods, which identifies savings & loan associations at the undisputed first place with 49% agreement.

Savings & loan association deposits and loans continued to grow to € 18.7bn (+3.5%) and € 17.6 (+3.1%), respectively.

Building loan disbursements for € 3.1bn provided for a revival of the subdued construction activity in 2010. With this result, funding lies significantly above the average level of the 2000s, amounting to € 2.8bn. Raising the limits for secured loans to € 150,000 and for unsecured ones to € 25,000 found great acceptance by savings & loan association customers.