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Frankfurt / Main (dpa) - After a profit decline in the Corona year 2020, Frankfurter Volksbank wants to expand its digital offerings.
Germany's second largest Volksbank announced on Wednesday that a new online banking platform for corporate customers will be introduced in the first quarter of the current year.
"Customer behavior has changed significantly and probably lastingly in the pandemic," said Eva Wunsch-Weber, CEO.
The focus for 2021 is on dovetailing analog and digital access to banking transactions even more closely and enabling customers to “enable smooth switching between all these channels”.
Joint branches with Taunus Sparkasse are a response of the cooperative institute with its 607,000 (previous year: 605,500) customers to the dwindling importance of business outlets.
25 of the 26 planned “financial points” were opened last year.
In March, the partners want to report on their experiences with their nationwide unique nationwide cooperation.
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Falling costs for personnel - the number of employees at Frankfurter Volksbank decreased to 1,475 (1,551) - and material expenses had a positive impact on the 2020 annual balance sheet.
Nevertheless, the operating result after valuation was 79.5 (95.0) million euros, 16.3 percent below the previous year's figure.
Since tax expenses also fell, the surplus remained almost stable at EUR 12.6 (12.7) million.
Wunsch-Weber referred to the stable basis of the institute with an almost unchanged high core capital ratio of 20.1 (20.4) percent: “We were able to strengthen our substance again and stand on an extraordinarily solid foundation that is sufficient for us even in a turbulent environment Offers room for maneuver for the future. "
Core capital is a buffer for times of crisis.
The nearly 245,000 members of the cooperative institute will again receive a six percent dividend.
The Frankfurter Volksbank is also underlining its roots in the Rhine-Main region with the merger with VR-Bank in Alzenau, Lower Franconia, initiated in autumn.
This is to be wrapped up in the current year.
For the Frankfurt Institute, which among Germany's Volksbanks is only surpassed by the Berliner Volksbank in terms of total assets, it would be the 20th merger in the past three decades - and the first across the state border of Hesse.
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© dpa-infocom, dpa: 210210-99-379086 / 2
Frankfurter Volksbank on the 2020 balance sheet
Frankfurter Volksbank on the 2019 balance sheet
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Frankfurter Volksbank in profile
Annual reports Frankfurter Volksbank
Information on joint branches ("financial points")
BVR facts and figures on the cooperative banking group
Press page Taunus Sparkasse
Bundesbank on the development of branches in Germany
Notification of the merger with VR-Bank Alzenau October 21, 2020
Facts and figures about VR-Bank Alzenau