VKB Records Rise in Results

For 2012, VKB´s chairman is confident. “We do not see any reason to be pessimistic.”, Albert Wagner said after the presentation of the preliminary results of 2011.

Both deposits and lending was up by 2.0% to € 2.147bn and € 2.162bn correspondingly. Operating results rose by 9.0% to 20.6%. EBT will reach about € 12.0m, Wagner said. The tier-1 capital quota could be raised from 14.4% to 16.3%.

For Wagner, it is no coincidence that VKB´s lending and deposit volumes are equal. This would be the “precondition for security and stability”. Wagner emphasizes to continue this “conservative strategy”. Wagner also does not want to expand abroad. “We already make business in Bavaria from our branches in Upper Austria.”

This year, VKB intends to raise total assets by 5.0% and its operating results by 9.0% again. Nevertheless, this aim will be a challenging one, Wagner admits. VKB´s chairman referred to the “economically highly critical framework conditions.”