Research Detail
| 2024/09/11 / Erste Group Research |
Oberbank AG Oberbank defines itself as a regional universal bank for industry and small and medium-sized enterprises with a second strategic pillar in the high-end private customer business. The core market is located in Upper Austria and Salzburg, with Oberbank also pursuing a cross-border market presence (Germany and CEE). Together with Bank für Tirol und Vorarlberg (BTV) and BKS Bank AG (BKS), Oberbank forms the 3 Banks Group. Oberbank's sustainability strategy covers all areas of the ESG approach and includes quantitative targets. The bank has an ISS ESG sustainability rating of C+ with PRIME status. Oberbank has also been a green bond issuer since 2021. In 1H 2024, the bank reported a consolidated profit of EUR 201.4mn, 12.3% below the record result of 1H 2023, although the operating result was higher than in the previous year. A further increase in net interest income was reported. In contrast, companies valued at equity delivered a significantly lower profit contribution in 1H 2024. There was also an increase in risk provisions and administrative expenses. Oberbank strives for the highest possible diversification of refinancing sources. The mortgage covered bonds are rated 'AAA' by S&P, and Oberbank as issuer is rated 'A' by the S&P rating agency. |
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General information
| Author | Erste Group Research |
| Date | 2024/09/11 |
| Language |  |
| Product name | Credit News |
| Topic in focus | Credits/ Corporate bonds |
| Economy in focus | Austria |
| Currency in focus | Euro |
| Sector in focus | - |
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