Solid balance sheet

RLB has a strong half-year behind it

The RLB headquarters in Bregenz.(Bild: Raiffeisen Bank)

Raiffeisen-Landesbank has strengthened its leading market position in Vorarlberg and is on a very stable footing. The growth in deposits is remarkable. 

Raiffeisen Landesbank is doing splendidly well economically, and the key figures for the first half of 2024 are excellent: the result from ordinary business activities is EUR 15.1 million, which is EUR 5.6 million more than in the same period of the previous year. The net profit after taxes amounted to 13.1 million euros. The cooperative bank's operating income increased significantly: at 52 million euros, it was 30.3 percent higher than in the previous year.

RLB CEO Michael Alge can be highly satisfied.(Bild: MARCEL HAGEN - STUDIO22.AT)

On the other hand, operating expenses increased by 1.4 percent as planned. The core capital ratio remains at a high level - at 15.7 percent, it is well above the legal requirements, which is a clear indication of the bank's stability. It is therefore no wonder that CEO Michael Alge is highly satisfied: "The pleasing figures confirm our strategy for the future. We have succeeded in further consolidating our leading position in Vorarlberg."

Lending remains at a high level
Customers are also happy to entrust their money to a bank that is doing well: Deposits grew by 2.2 percent in the first half of the year - a remarkable figure. Despite the economic dip and the resulting subdued investment climate, lending remained at a high level. "Our focus remains on providing funding to private individuals and companies in the region so that they can implement their projects," emphasizes Alge. However, he is cautious about the near future: it remains to be seen when the local economy will pick up speed again, and it is also important to keep an eye on the unemployment figures.