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2019/11/14 / Erste Group Research

Issuer Profile | VOLKSBANK WIEN AG

The VOLKSBANK WIEN AG (VB Wien) is the central institution of the Association of Volksbanks (VB Association) and in the capacity as the central organization exercises management and steering functions on its behalf. Austria's Volksbanks are members of a joint liability scheme. The structure targeted by the merger concept is in place since mid 2018. Currently the focus is on boosting efficiency further by means of centralization and simplification within the VB Association.

In its function as the central organization of the VB Association, VB Wien receives the entire surplus liquidity of the latter. In addition VB Wien has a large stock of customer deposits at its disposal. Since 2017, access to the capital market has been used as a refinancing channel. Currently the bank has a rating of 'Baa1/stable' from Moody's, and 'BBB/stable' from Fitch (via the VB Association). In addition Moody's has assigned a rating of 'Aaa' to the mortgage covered bond program.

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General information

AuthorErste Group Research
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria
Currency in focusEuro
Sector in focus-


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