Erding - The merger of VR-Bank Erding and Raiffeisenbank St. Wolfgang is sealed.
Now the VR-Bank representatives' meeting also voted in favor with 98 percent.
The concentration on the banking sector continues, the number of independent financial institutions is falling.
Now the merger of VR-Bank Erding with Raiffeisenbank St. Wolfgang-Schwindkirchen is also in the towel.
According to the announcement, the meeting of representatives in the town hall decided the merger with 98 percent.
At the end of May, the people of St. Wolfgang agreed to the wedding.
Before the vote, the deputy CEO of VR-Bank, Josef Kern, emphasized the positive aspects for customers and members based on the merger with what was then Raiffeisen-Volksbank Isen-Sempt eG four years ago.
"A growth of more than 270 million euros within four years shows that we are often the first choice as a partner." A unit will "bring great advantages for our customers and shareholders".
Kern asked for the clearest possible vote, which he also got.
"With this merger, both banks will become significantly more efficient."
Even after the merger, the new bank will remain the largest cooperative bank in the Erding district with 230 employees and total assets of 1.5 billion euros.
The management board of the merged bank will include Johann Luber, Josef Kern and Felix Lechner. The previous deputy chairman of the board of directors of VR-Bank Erding, Friedrich Ziller, and his colleague Reinhold Lindner from Raiffeisenbank St. Wolfgang-Schwindkirchen will no longer belong to the future board of directors for reasons of age. Lindner will leave the bank next year, Ziller will leave the bank at the end of July 2021 after 47 years. He, who was awarded the Golden Badge of Honor by the Bavarian Cooperative Association last year, thanked representatives, the board of directors and the supervisory board in very personal words - and received long applause.
Elections were pending for the supervisory board. Chairmen Mechtild Maurer (Hohenlinden), Andreas Winner (Pastetten) and Max Wittmann (Neuching) were confirmed. Martin Hanslmaier (Obertaufkirchen), Barbara Göschl and Wolfgang Brandlhuber (both St. Wolfgang), who had previously belonged to the Raiba supervisory body, were newly appointed. Franz Finger and Günther Drobilitsch are new members of the election committee for the representatives for the newly added business area
VR-Bank Erding was the only focus of the annual report. CEO Johann Luber reported to the more than 100 representatives on a balance sheet total of 1.28 billion euros (+ 9.5%), customer loans of 911.4 million euros (+ 6.6%) and an annual profit of 2.95 million euros. He put the surplus from the commission business at 7.9 million euros. According to Luber, 2.7 million euros in taxes were paid, and over 65,000 euros were distributed in donations. His conclusion: "We drove through the Corona year with momentum." One can be very satisfied with the result. He thanked the employees, "who, despite all the restrictions, have achieved a lot and have been there for our customers day in and day out".
The annual accounts were approved unanimously. Given a dividend of four percent, that should have been an easy decision.