Good mood at the volksbank forchheim representatives’ meeting: the cooperative bank can look forward to record growth, according to a press release. Accordingly, the volume of customers serviced increased by 138 million euros in 2017 to almost two billion euros.
Gregor scheller, chairman of the volksbank board of management, explained: "our customers appreciate the fact that we continue to focus on personal advice on site. At the same time, we are offering our customers more and more digital services that make simple banking transactions easier and more convenient. We see ourselves as the digital branch bank of tomorrow."
Plus for commercial loans
Volksbank recorded a strong increase in lending business. The increase is due in particular to growth in business with commercial and corporate customers: a total of 587 million euros in loans were extended. "Compared to last year, we were able to increase commercial lending by almost 14 percent", alexander brehm, member of the board of management, announced. The bank also recorded an eight percent increase in loans to private individuals. In real estate financing, it recorded growth of around ten percent to 444 million euros.
Customer deposits also increased despite low interest rates due to market conditions: in 2017, the volume of customer deposits under management rose by 83 million to 1.3 billion euros. As in previous years, customers were particularly interested in short-dated forms of investment.
Joachim hausner, another member of the board of management, reported: "while borrowers are benefiting from the low interest rate, it is all the more important for savers to discuss investment alternatives in the context of an advisory service that still promise a positive return even adjusted for inflation." The interest in securities funds and the gold savings plan, which the bank has been offering since march 2017 as one of the first in bavaria, was therefore particularly great. The home savings and insurance business also developed briskly in the fiscal year.
Volksbank forchheim is also pleased about a high number of new customers. In 2017, more than 1,600 private individuals and companies opened a checking account. Some 230 people also decided to become members of the cooperative bank. More than 50,000 customers and around 22,300 members currently place their trust in volksbank forchheim.
Two percent dividend
The proposal of the board of management and the supervisory board to distribute a two percent dividend to members was unanimously approved by the annual general meeting. The supervisory board was also confirmed: bernhard low, konrad ochs and karl-heinz schrenker were re-elected.