Demand for home loans fell sharply last year, but the federal government’s housing package will now reverse the trend. However, you still have to be patient, because the details are taking a long time. “People are waiting,” says general manager of RLB-OÖ Heinrich Schaller and speaks of a “standstill”.
“There is an increasing interest in advice on new home loans – this is mainly due to the financing package from the federal government,” says Heinrich Schaller, adding: “But now people are waiting for the criteria to finally be on the table.”
And they take a long time to arrive, which in turn has consequences. “Private lending has more or less come to a complete standstill,” explains the managing director of Raiffeisenlandesbank Upper Austria, who presented the 2023 figures on Friday.
The consolidated balance sheet total decreased slightly, but amounted to 47.8 billion euros, and the surplus after tax increased to 608.3 million euros – an increase of 269.5 million euros compared to 2022. A “very, very pleasing result”, says Schaller, who emphasized the importance of increasing capital strength. “We are much better prepared for possible setbacks, but we also have the opportunity to grow further.”
Online saving is becoming increasingly popular
The savings volume also grew strongly: last year it rose to 18.7 billion euros. “The growth can be attributed almost exclusively to online savings,” Schaller explains.
350 branches in Upper Austria
Will the branch network be further reduced due to the increased popularity of internet banking etc.? Schaller waves it away: “Raiffeisen will not throw away and give up with one stroke of the pen the advantage of direct contact with our customers, which it has developed for more than 100 years.” He does not rule out isolated mergers: “But Raiffeisen will certainly not disappear from the region.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
