Volksbank Darmstadt-Südhessen with “very good results”

The Management Board and Supervisory Board of Volksbank Darmstadt – Südhessen report with satisfaction on the past financial year.

DARMSTADT – (red). “Volksbank Darmstadt – Südhessen has achieved very good results in the past financial year in view of the general framework conditions.” The chairman of the supervisory board, Thomas Frank, came to this positive conclusion in his function as chairman of this year’s representative meeting on June 8, according to a statement from the bank .

Management Board Spokesman Matthias Martiné provided detailed information on the solid development in the 2021 financial year. Accordingly, the balance sheet total increased by 3.6 percent to EUR 5.196 billion compared to the previous year. Customer loans, a key success factor in the positive development, rose by 2.8 percent to EUR 3.752 billion.

At the end of 2021, customer deposits on the balance sheet reached a new high of EUR 4.152 billion, an increase of 2.8 percent. The focus of their holistic cooperative advice was on optimizing the asset structure. According to Martiné, fund investments that focus on the topic of sustainability were in disproportionately high demand at around 90 million euros.

From the net income generated in 2021, the bank will pay its 96,000 members a dividend of two percent on their shares. In addition, the reserves are strengthened. The meeting passed the corresponding resolution with a large majority. The dividend is thus unchanged at the level of the previous year and well above the market interest rate. With the anticipated increase in equity, the bank sees itself prepared for economic uncertainties and has the necessary scope for further growth.

The member representatives also showed unity in the elections to the Supervisory Board. Eva Friedrich, member of the management board of the Waibel group of companies based in Gernsheim, and Dr. Sven Herbert, Managing Partner of the Bensheim-based Herbert Heating, Sanitary, Air Conditioning Group, was newly elected to the 15-strong committee. They succeed Sylvia Rhein and Horst Lulay, whose term of office ended with the meeting of representatives.