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RLB is on the right track in the traditional banking business. The volume of financing increased by 1,100 million to 24,600 million euros. Significantly more was earned in the securities business, with the total consolidated balance sheet increasing by eight percent to € 47.9 billion. This makes RLB the largest bank in Upper Austria.
However, two large RLB positions are reaching semi-annual balance. Voestalpine and Raiffeisen Bank International (RBI) evolved positively, especially at the beginning of the year, and this evolution is reflected in RLB’s balance sheet with the increase in their participation. In addition, there are higher provisions for risks. As reported, the RLB has given German company Wirecard loans in the double-digit million range, of which you’ll likely only see a fraction again. For this, it was necessary to make provisions of 30 million euros. In total, RLB CEO Heinrich Schaller puts the damage caused by Wirecard at around 41 million euros.
“Wirecard bothers me immensely. But you are not immune to criminal energy, ”Schaller said in an interview with OÖNachrichten. But don’t worry about voestalpine and RBI. “Both companies are stable and well equipped for the future.” Voestalpine’s stock, for example, has recently recovered significantly. At RBI, the value of the share is determined by the opinion of an expert. RLB’s operating result was minus 83.1 million euros in the first half of the year, with the investment result being only negative at 164.4 million euros. The semi-annual loss is 216 million euros.
During the Corona phase, RLB deferred 13,330 loans and granted 1,200 million euros in bridge financing. So RLB is increasingly offering capital bridging aid for business financing. There is a pot from which RLB could invest in companies. Either the RLB takes over a minority stake or gets involved as a silent partner. The advantage over the loan is that the repayment pressure is not that high compared to debt, Schaller says.
Article of
Dietmar mascher
Deputy Editor-in-Chief, Chief Business Editor
