6,000 deferrals carried out. Deliberately slowed down when it comes to new business.
In Corona year 2020, Raiffeisen Bausparkasse increased its financing performance to a record amount of almost 1.5 billion euros. The loan volume fell slightly to EUR 6.6 billion. New business was deliberately slowed down because one no longer wants to have small contracts or secondary contracts in the portfolio.
Requirement to legislators
However, the average contract sums rose. The legislator would like to see the maximum building savings loan amounts raised from 220,000 to 250,000 euros.
The financial performance grew significantly last year from EUR 1.091 billion to EUR 1.468 billion, reported the managing directors Christian Vallant and Markus Tritthart in an online press conference on Tuesday. According to its own information, Raiffeisen Bausparkasse is the market leader in all sectors.
6,000 deferrals
In terms of new business, the number of contracts fell from 244,436 to around 227,000. The trend of people out into the country, around the suburbs of the cities, is continuing, and that will continue this year, according to Vallant. The building society savings product is crisis-proof and will continue to be well received by people even in the pandemic.
In the course of the legally extended deadline for loan deferrals due to the corona crisis, Raiffeisen Bausparkasse helped around 6,000 households unbureaucratically, said Tritthart. The situation was not easy for anyone, he referred to the rise in short-time work and unemployment.
The number of deferrals now at pre-crisis level
Customers who need help will not be left alone in the future either: “You always find a way. We gave support before the crisis and will do it again now.” After the expiry of the statutory moratorium, the number of deferrals will fall back to the usual level of 500 to a maximum of 800 per year.
According to Vallant, Raiffeisen Bausparkasse currently grants loans for 1.5 percent per year for 20 years and for 1.25 percent per year for 25 years, both fixed. Building society loans with variable interest rates are currently not available.
Renovations “at a low”
Vallant regretted that the renovations in Austria “unfortunately hit a low” – the thermal renovation rate is only 0.4 percent instead of the 2.0 percent aimed at by politicians.
Last year, Raiffeisen Bausparkasse only granted just under 4 percent of the loans for renovations, and in 2019 it was 5.5 percent. There is great hope in the new funding program for thermal renovation and boiler replacement.
