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Volksbank International achieves record result in 2007

March 19, 2008
 For the third time in a row Volksbank International Group (VBI) achieved record result in 2007 and continues to pursue its successful increase. VBI Group increased result from ordinary activity by 75,7% and achieved the highest level - EUR 70,5 mln.  

According to director general of OJSC "Volksbank" Franz Pinkl  for greater utilization of market possibilities in Central and Eastern Europe shareholders granted VBI EUR 200 mln. of new capital for development in future years". AG "Volksbank" owns control package of shares of VBI

VBI Group Balance Sheet total in 2007 increased by 60,1% and amounted to EUR 10,7 billions out of which the biggest share pertains to Volksbank Romania (EUR 3,5 bln.).VBI Banks in Hungary and Czechia (EUR 1,4 bln. each), Slovakia (EUR 1,2 bln. ) and Croatia (EUR 1,0 bln.) achieved, and to be more exact, surpassed Balance Total of EUR 1 bln..

There was a positive dynamic of crediting and deposits volumes increase. In 2007 VBI Credit portfolio increased by 68,5% and amounted to EUR 7,3 bln. out of which retail - EUR 3,9 bln. and corporate - EUR 3,4 bln.. Deposit portfolio increased by 50,7% and amounted to EUR 4,4 bln..

VBI Group consists of 10 VBI Banks in 9 countries of Central and Eastern Europe and OJSC "Volksbank International" with Headquarter in Vienna. In 2007 number of sales points increased by 76,9% and reached 545. At the end of the year the number of employees in VBI Group became 5218 persons.

For the next years VBI Group plans to establish and to keep the role of important "player" in the market of Central and Eastern Europe countries.

Note: On April 2, 2007 "Volksbank International" AG with Headquarter in Vienna became owner of OJSC "Electron Bank" by purchasing more than 98 % shares from Bank's shareholders.

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