International Property News

Volksbank CZ 2007 net up 80%

16th April 2008

Volksbank CZ last year saw its net profit increase by 80 percent to Kc320m, and its total assets grew by 43 percent to Kc36.4bn at the end of 2007, Volksbank board chairman Johann Lurf told a press conference Wednesday.

The total volume of client deposits rose by 41 percent yr/yr to Kc23.7bn last year.

The volume of loans provided by the bank went up by 44 percent to Kc30.1bn.

Volkbank's net interest received grew by almost one half to Kc970m.

The bank last year earned Kc318m in fees and commissions, a growth of 31 percent against 2006.

The bank's administrative costs last year increased by a quarter to Kc725m.

The number of Volksbank's sales places last year grew from 32 to 54.

The client number went up by 30 percent to more than 46,000.

Volksbank, owned by the Austrian financial group Oesterreichische Volksbanken through Volksbank International, has been operating on the Czech banking market for 15 years.

Source: Prague Monitor