Research Detail
| 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
| Author | Erste Group Research |
| Date | 2019/11/14 |
| 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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