Research Detail
| 2024/08/26 / Erste Group Research |
Raiffeisen-Landesbank Steiermark Raiffeisen-Landesbank Steiermark AG (RLB Steiermark) has been in existence since 1927 and is the central institution of the cooperative Raiffeisen banking group in Styria. As a “bank for banks”, RLB Steiermark therefore acts as a money clearing office and service center for the 41 independent Styrian Raiffeisen banks. RLB Steiermark's consolidated net profit increased significantly to EUR 345.1mn in the 2023 financial year, more than four times the figure for 2022. The main reason for this was a strong improvement in investment income in the amount of EUR 71.4mn. Net interest income also developed positively, rising by 16.8% to EUR 176.6mn. RLB Steiermark issues both mortgage and public sector covered bonds. The mortgage cover pool consists of 95.3% Austrian assets and the public cover pool of 99.4% Austrian assets. Both types of covered bond are rated 'Aaa' by Moody's with a stable outlook. |
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General information
| Author | Erste Group Research |
| Date | 2024/08/26 |
| 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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