Volksbank in the Bergische Land is conducting its year-end review for 2024's business operations.
The Down-to-Earth Report: Volksbank's Gotta Keep On Pumpin'
Dah, dah, dah! The Volksbank of Bergisches Land is back with its latest financial report, and let me tell you, old timers, it ain't half bad! It's been a rocky economic landscape, but this steadfast cooperative bank is riding the waves like a pro.
So, sit back and let me spill the beans on what went down in 2024.
Operationally Speaking, Things Stayed Steady as She Goes
Yep, that's right, the big ol' bank was able to hold its ground operationally, even with a turbulent market and some added expenses on the side. Board chairman, Andreas Otto, put it best: "In the face of a rough market situation and with some extra expenses, we're still at the same level, homie."
The Securities Story: A Win for the Bank and Its Clients Alike
The bank picked up a sweet victory in the securities game, scoring a record result that even impressed the competition. Securities deposits from clients even grew by a cool 5%, making the bank smile ear to ear.
Lending Like a Pro, Despite the Odds
But not everything was hunky-dory. The bank faced some obstacles in the lending business, with increasing difficulties for many companies in the region. Board member, Christian T. Fried, admitted that they'd seen a rise in the need for value adjustments for the first time in yeas. But despite these challenges, the bank managed to keep the lending game steady.
Consistency and reliability are the name of the game, y'all, and that's exactly what the bank's dedicated employees delivered, keeping their customers fired up and feeling the love.
Dividends: Spreading the Wealth
The bank sure has been on a roll, and it's only fair to share the good fortune. The representative assembly will decide on a juicy 6% dividend payout in June, keeping those members happy as a clam.
Customer Service Solutions for 2024
Determined to deliver top-notch service, the bank introduced new customer service structures to fit the modern times. Now, clients can ask for advice over the telephone, sweet video calls, or swing by their local branches, transformed into efficient advisory centers. Want online banking help or question your bank account? Just drop by the "Favorite Branch" customer service center.
Service with a Side of Community
The bank's got strong roots in Bergisches Land, as proven by its involvement in rebuilding a flooded Kindergarten, Unterburg—construction began in September 2024. And if that wasn't enough community spirit, the bank forked over 7.7 million euros in taxes to Remscheid and supported around 170 organizations with contributions totaling 290,000 euros last year.
So, there you have it folks, a snapshot of Volksbank in 2024. Tough times, challenges, and victories, but the bank's steadfast, and clearly, it's got the moves!
Despite the turbulent market conditions and additional expenses, Volksbank maintained financial stability, showcasing its resilience in the business and finance sector. Securities deposits increased by 5%, demonstrating a successful strategy in this area.
