NEWS | Wednesday, 09 March 2008

Volksbank AG announces increased results

Announcing details for the group’s financial report for 2007, recently Volksbank Malta Managing Director Herbert Skok said : “Our group reached a balance sheet sum of 78.6 billion Euro, an increase of more than 16%. Profit after tax was actually increased by 41.6% - all in all, a brilliant result. This result makes Volksbank the forth biggest bank in Austria.”
Even though the past year was marked by turbulences in the financial market, the strategy of the Volksbank Group, based on five main sectors - Retail, Corporates, Municipals, Financial Markets and Real Estate - showed the balance and stability of the new group structure, which was changed after the acquisition of Investkredit in the previous year.
“The success of the group is also reflected in the growing numbers of employees”, Mr. Skok continued. “Volksbank Group had 8,341 employees at the end of December 2007, 2,193 of them are working in Austria, the others are employed with sister banks in Malta, Bosnia-Herzegovina, Croatia, Czech Republic, Hungary, Italy, Liechtenstein, Romania, Serbia, Slovakia, Slovenia, Switzerland and the Ukraine.”