"Good result"

Raiffeisen Banks Vorarlberg posts a big plus

The managers of the Raiffeisen Banking Group Vorarlberg (RBV) have reason to be pleased: the operating result reached a level of 236.6 million euros.  

The Raiffeisen Banking Group Vorarlberg (RBV) achieved what it considers to be a "very good result" in the 2023 financial year. The figures speak for themselves: CEO Michael Alge (photo) put the operating result at 236.6 million euros, compared to 123.4 million euros a year earlier.

The ratio for earnings after tax (EBT) is similar: 176.2 million euros compared to 94.4 million euros a year earlier. Profit after tax, the net profit for the year, also increased from 66.3 to 134.6 million euros within one year.

As Alge reported, although fewer personal loans were being taken out, there were hardly any customers who could no longer service their loans. The mood is probably worse than the actual economic situation, he said. Nevertheless, there is hope and belief that interest rates will fall again soon - this would give borrowers more leeway again.

As young families are at the greatest disadvantage in the current situation, Alge said that the aim was to make it easier for them to take out loans for residential real estate. From now on, Raiffeisen will be offering loans for people under the age of 40, starting with a five-year fixed interest phase. During these five years, the bank is offering an interest bonus of one percent.