VR Bank Ostalb
 VR-Bank Ostalb eG
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|---|---|
| Country |
 Germany
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| Seat | Bask |
| legal form | Registered cooperative |
| Bank code | 614 901 50 |
| BIC | GENO DES1 AAV |
| founding | January 1, 2017 |
| Association | Baden-Württemberg Cooperative Association e. V., Karlsruhe / Stuttgart |
| Website | www.vrbank-ostalb.de |
| Business data 2019 | |
| Total assets | 1,911 million euros |
| insoles | 2,647 million euros |
| Customer credit | 1,569 million euros |
| Employee | 350 |
| Offices | 31 |
| Members | 55,612 |
| management | |
| Board | Kurt Abele, Chairman, Ralf Baumbusch, Olaf Hepfer |
| Supervisory board | Claus Albrecht, chairman |
| List of cooperative banks in Germany | |
The VR-Bank Alb eG is a credit institution in Baden-Wuerttemberg . The bank was created in 2017 from VR-Bank Aalen eG Volksbank Raiffeisenbank and Volksbank Schwäbisch Gmünd eG.
history
Origins
The predecessor institutes of VR-Bank Ostalb were founded on February 20, 1868 as the Schwäbisch Gmünd commercial bank and as the Aalen commercial bank on March 1, 1868, based on the idea of self-help, self-responsibility and self-administration by Friedrich Wilhelm Raiffeisen and Hermann Schulze-Delitzsch . These basic principles have remained valid to this day. These include security, trust, solidarity and fairness.
The Aalen and Schwäbisch Gmünd commercial banks have been in business for 150 years. A significant piece of contemporary history lies behind the banks: two world wars , inflation , five different currencies, industrialization , economic miracle , numerous mergers , economic, financial market and state crises. The cooperative banks have proven themselves in all crisis situations and have survived them. Even during the most recent financial market and national debt crisis, the Volksbanken and Raiffeisenbanken remained the only banking group in Germany that mastered this crisis without government assistance.
fusion
In its current form, VR Bank Ostalb emerged from the merger of several predecessor institutions, which emerged in the nineteenth century as jointly liable loan cooperatives. The last merger in 2017 was the merger of VR-Bank Aalen with Volksbank Schwäbisch Gmünd to form VR-Bank Ostalb eG, which is now the largest cooperative bank in the region.
The Volksbank Schwäbisch Gmünd had increased its growth exorbitantly from 2006 compared to other banks. In the following years, loans were issued that did not fit the size of the bank and thus upset the healthy mix of large and small corporate loans. Above-average write-downs on customer loans had to be made in 2009. In 2010, the credit risks exceeded the income from normal banking business, so that provision reserves had to be released. Volksbank's business policy was primarily growth-oriented, but insufficiently risk-oriented, and did not take sufficient account of the bank's historically below-average equity base.
In the 2011 financial year, the risks became so great that the bank's own funds were no longer sufficient to offset the write-downs on loans. This was done through a guarantee from the security scheme for EUR 28 million . Ultimately, the bank's equity situation, together with the phase of low interest rates, which should lead to falling margins in the banks' lending business, made a significant contribution to the merger with VR Bank Aalen. Regression claims were asserted against the then board members Udo Effenberg and Robert Knoll; this was decided at the meeting of representatives with 184 of the 195 representatives present. At the meeting of representatives in Aalen in June 2017, 78.79 percent voted in favor of a merger of the two banks; at least 75 percent were necessary.
education
VR-Bank Ostalb eG offers two training courses: vocational training as a bank clerk and a Bachelor of Arts degree in economics, a business administration bank course at the Baden-Württemberg Cooperative State University in Heidenheim .
Web links
- VR-Bank Ostalb eG website
- VR-Bank Ostalb in the company database of BaFin
Individual evidence
- ↑ a b Master data of the credit institute at the Deutsche Bundesbank
- ↑ Annual reports of VR-Bank Ostalb eG
- ↑ VR-Bank Ostalb Volksbanken & Raiffeisenbanken from Aalen in the company database wirdzu-wem.de. Retrieved January 3, 2020 .
- ↑ Gmünder Volksbank is not yet on its feet financially in 2013 either. June 19, 2013, accessed January 3, 2020 .
- ↑ a b Volksbank Schwäbisch Gmünd eG must be reorganized. In: Rems newspaper. April 26, 2012, accessed January 4, 2020 .
- ↑ Ulrich Gessle: The VR-Bank Ostalb has been decided. In: Schwäbische Zeitung. June 7, 2017, accessed January 4, 2020 .
Coordinates: 48 ° 50 ′ 23.4 " N , 10 ° 5 ′ 42.3" E