Fewer ATMs

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Raiffeisen Upper Austria has two holdings in Robau, which will soon hold a majority stake in Rosenbauer. "This underlines our efforts to strengthen Upper Austrian companies and keep them in the state," emphasizes Schaller.

(Bild: Krone KREATIV/RLB OÖ/Wakolbinger, stock.adobe.com, Rosenbauer International)

Customer deposits have grown, interest business is back to normal levels, total assets have risen - yet net profit for the period after taxes fell by around 153 million euros to 256.9 million euros compared to the first half of 2023. This is due to the results of investments, explains RLB-OÖ General Director Heinrich Schaller.

"Our customers took advantage of the intensive advisory services and the higher interest rate environment and invested more money in savings products and securities," reported Heinrich Schaller, CEO of Raiffeisenlandesbank Oberösterreich, which presented its figures for the first half of 2024 on Friday. Significant growth was recorded in customer deposits, which rose to EUR 14.1 billion. "After years of low interest rates, saving is experiencing something of a renaissance," said Schaller, who also spoke to the Krone about...

• The situation on the real estate market: "We are currently seeing increased interest in consultations again. The focus is increasingly on renovations, conversions or even projects that are being planned and built with a longer-term perspective than in previous years. The number of new real estate loan agreements is still at a low level compared to 2022."

• The stuttering economic engine and the consequences for the domestic economy: "The forecasts made by economic researchers at the start of the year were far too optimistic. It will be some time before we have actually overcome this crisis. Domestic companies are not only burdened by the persistently high energy costs, but also by the generous wage agreements. What's more, bureaucratic hurdles are still being erected at European level, resulting in massive disadvantages for international competition."

In recent months in particular, the number of new loans has risen again compared to the previous year.

Heinrich Schaller über die Entwicklung bei Wohnbaufinanzierungen

• The planned investment in Rosenbauer by two Raiffeisen Oberösterreich companies as part of Robau: "Rosenbauer is a company with enormous potential and very good prospects. The capital increase offered the opportunity to make a contribution to strengthening equity and setting the course for sustainable growth. Together with our partners, we have succeeded in forming a strong Austrian investor consortium that combines the necessary industrial expertise with global business relationships and international experience for Rosenbauer."

• The fear about the cash supply in Austria because the number of ATMs is declining and the associated criticism of the banks: "I cannot understand this criticism. The cash supply in Austria is at an excellent level. In an international comparison, we are among the absolute leaders. As a local financial provider, Raiffeisen makes a significant contribution to this. We currently operate 555 ATMs in Upper Austria, which is around half of all ATMs in the province."