Volksbank Malta recently announced that parent company Österreichische Volksbanken-AG (ÖVAG) presented a total balance sheet sum of e61.2 billion for the first half of 2006.

The biggest increase in the balance sheet was achieved by the subsidiaries in the Central and Eastern European countries (VB International), VB Investmentbank AG and the recently acquired Investkredit as well as Kommunalkredit and Hypo Niederösterreich.

Profit before taxation for 2005 showed a strong increase of 32.4 per cent with the sum of e152.8 million. For the first six months of 2006, group profit after taxation and minority shares deduction amounts to e89.1 million.

The capital resources of the ÖVAG-group in the first half-year 2006 amounted to e2.9 billion. The risk oriented calculation basis amounted to e31 billion on 30 June. This results in a capital resource of 9.5 per cent, referred to the calculation basis bank book and trade book.

During the last six months, the Volksbank group also increased the number of employees. 6,336 employees were working with it on 30 June. And this is not all – next year the bank wants to reach the 7,000 limit.