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Frankfurt / Main (dpa) - After a profit decline in the Corona year 2020, Frankfurter Volksbank wants to expand digital offers.
In the first quarter of the current year, a new online banking platform for corporate customers will be introduced, Germany's second largest Volksbank announced on Wednesday.
"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 channels even more closely.
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 almost unchanged high core capital ratio of 20.1 (20.4) percent: “We were able to strengthen our substance again and are on an extraordinarily solid foundation that gives us enough room for maneuver for the future, even in a turbulent environment. »
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.
It has been shown that "the Corona crisis has no impact on the economic viability of the bank," said Wunsch-Weber.
This was reported to the supervisory authority, which is calling for the industry to restrain distributions due to the pandemic.
The annual financial statements show that the board of directors “with a clear conscience” can also represent a dividend for the past financial year, said Wunsch-Weber.
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As a lender, the institute was in greater demand than ever in 2020: the loan volume increased by 6.5 percent to a record level of 7.2 billion euros within a year.
Customer deposits also reached a high of 10.6 (10.1) billion euros.
Customers for whom the money house is not the house bank must expect negative interest rates for higher sums.
"If we are used as a bank to park money, we actually have to talk about custody fees," said Wunsch-Weber.
Such private customers must reckon with a minus interest of 0.55 percent for deposits of at least 100,000 euros.
With negative interest, banks compensate for the fact that they themselves have to pay 0.5 percent interest when they park money at the European Central Bank (ECB).
According to the board of directors, this cost the Frankfurter Volksbank over two million euros last year.
Volksbank underscores 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 2021.
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: 210210-99-381081 / 2
Frankfurter Volksbank on the 2020 balance sheet
Frankfurter Volksbank on the 2019 balance sheet
Frankfurter Volksbank in profile
Annual reports Frankfurter Volksbank
Information on joint branches ("financial points")
BVR facts and figures on the cooperative banking group
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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