Head of Sparkasse Oberösterreich

The long wait for clarity on the housing package

Sparkasse Oberösterreich - here CEO Stefanie Christina Huber - recorded an increase in savings deposits in the previous year - to 6.2 billion euros.(Bild: Markus Wenzel (2), Krone KREATIV,)

After the huge decline in the previous year, demand for housing loans is on the rise again. But customers are still waiting, reveals the CEO of Sparkasse Oberösterreich, which posted a record pre-tax profit last year. This situation is accelerating the share buyback program.

Although total assets fell slightly, pre-tax profit rose to 155.7 million euros - Sparkasse Oberösterreich delivered a record result in the previous year. "2023 was a very successful year," says CEO Stefanie Christina Huber. New business in private residential construction financing fell by 60% due to higher costs and more difficult access to financing.

The volume of corporate loans fell slightly in the previous year. On the other hand, liquidity requirements increased.

Stefanie Christina Huber, Generaldirektorin der Sparkasse OÖ

Will the high wage settlements and the easing of the regulation for new home loans have a positive effect? "The turnaround is still a little way off. The major subsidy for the housing package has not yet been worked out. When there is clarity on this, it will bring about a turnaround," says Huber. Demand and interest are already rising again.

Repurchase of Erste Bank shares completed earlier
The adjustments to the branch network are ongoing: there are currently 140 locations, 36 of which are self-service branches. Further mergers are planned. Where these will take place remains to be seen. However, it is almost certain that the Allgemeine Sparkasse share administration will complete the buyback of shares from Erste Bank in June and will then hold 85.7% of Sparkasse Oberösterreich.