Raiffeisenverband Salzburg with a positive balance in 2021
Salzburg (Austria) The balance of the Raiffeisenverband Salzburg (RVS) for the year 2021 is positive. Even in the second year of the pandemic, RVS was able to generate a very good result thanks to its resilient business model, despite the ongoing changes in the general conditions.
The review of the year 2021 at this year’s General Assembly paints an extremely satisfactory picture. The effects of the pandemic on the business development of the RVS are proving to be significantly weaker than originally expected. Thanks to extensive government aid measures, customers were able to cope well with the Corona crisis economically. There have been practically no credit defaults due to Corona, and some areas – such as the real estate industry – have even experienced a real boom. The RVS itself was therefore only confronted with low risk costs and was able to build up generous reserves. This means that the company is well prepared for current and future challenges and expects to be able to generate a solid result in 2022 as well.
Last year’s operating result increased by 3.9 million euros to 63.3 million euros, the balance sheet total of the RVS increased to 9.7 billion euros. Loans to retail and corporate customers have continued to increase and grew by 6.2% in 2021, while deposits grew by 4.3%. Equity increased to EUR 756 million, resulting in an equity ratio of 16.3%.
“In view of the current war situation in Ukraine, it is difficult to emphasize one’s own successes. The performance of our house in 2021 can and should be appreciated accordingly – and energy prices can be expected to rise further in consumer prices. It is therefore necessary to herald the turnaround in the negative interest rate policy. By saying goodbye to negative interest rates this year, the European Central Bank would show that it is countering high inflation,” emphasizes Dr. Heinz Konrad, Director General of the RVS.