Volksbank records growth despite pandemic

Volksbank Marl-Recklinghausen draws a positive balance for 2020. The lending and deposit business was brisk, the customer volume increased, a dividend was distributed.

“In any case, 2020 has confirmed to us that it pays to be flexible and adaptable,” said Volksbank CEO Olaf Kilimann in the digital meeting of representatives. The bank with its 212 employees has proven this in a variety of ways.

And not only that: Volksbank has “built a very good starting position for further growth”, they say. The lively credit and deposit business contributed to the fact that total assets grew to around 1.2 billion euros in 2020 – an increase of 4.8 percent compared to the previous year. Receivables from customers increased by 9.1 percent to 665 million euros.

Kilimann: “We have helped many solid companies in Marl and Recklinghausen to weather the crisis well and to invest in innovation and growth wherever there were opportunities.”

Helped 450 families and singles own property

With around 800 construction loans and a financing volume of 92.0 million euros, the bank helped 450 families and singles, among others, to find their own four walls. The application volume for the Corona promotional loans was 17.2 million euros. As of December 31, the customers of Volksbank entrusted deposits of 961.7 million euros, 5.1 percent more than in the previous year.

In view of the persistently low interest rate environment, “a sensible diversification across various investment instruments – for example stocks, bonds and real estate” – is indicated, according to the CEO.

Total customer volume increased by 6.5 percent

The total customer volume serviced, i.e. the sum of all funds spent and entrusted by the bank and the network partners, reached around EUR 2.31 billion at the end of 2020. This corresponds to an increase of 6.5 percent. Volksbank Marl-Recklinghausen’s net income for the year is EUR 1.119 million. 197,973 euros were distributed to 148 associations and institutions in Marl and Recklinghausen.

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The dividend distributed is three percent

This year the dividend for members was two percent and one bonus percent. The “extraordinary commitment of our employees”, according to Olaf Kilimann, will be recognized by Volksbank with a corona bonus. Karl-Jürgen Fromme and Dr. Axel Jan Gros were re-elected. In the subsequent meeting of the supervisory board, Gros was re-elected chairman of the supervisory board.