Volksbank Lübeck: Successful year despite global crises!

Volksbank Lübeck: Successful year despite global crises!

Amid a challenging economic landscape, the Volksbank Lübeck presented as remarkably stable and successful at its 54th annual representative meeting. The event took place in the Media Docks, where Supervisory Board Chairman Lutz Kleinfeldt and board members Christian Mehrens and Bernhard Rogge presented the positive developments of the 2024 financial year on Wednesday evening. Those responsible made it clear that although geopolitical tensions and market fluctuations are challenging, the bank is well positioned to offer customers the support they need.

Customer business is showing a considerable upward trend. Customer receivables rose by 39 million euros to 742 million euros. Customer deposits also increased by 34 million euros to a total of 843 million euros. Net interest income grew from 20.4 million euros in the previous year to 24.2 million euros. Net commission income remained stable at €8.5 million, underlining the continued demand for personal advisory services, despite the technological services offered by many banks.

Pleasing figures and a look into the future

The operating result before valuation is also impressive: it increased to 13.2 million euros, a significant jump compared to 9.7 million euros in 2023. The balance sheet total reached 1,101 million euros at the end of the year, which illustrates the solid basis of Volksbank Lübeck. The members of the cooperative can look forward to a dividend of 3 percent on their business assets.

The number of members remained stable at 14,292 - a good sign of customers' loyalty to the bank. In order to make the Klingenberg location fit for the future, a renovation is planned, with completion scheduled for 2027. As part of these measures, the focus is also on sustainability, which is enormously important these days.

Social responsibility and personal handovers

The Volksbank is also socially committed: over 66,000 euros were donated to 24 clubs and organizations in the region. Bernhard Rogge, who was awarded the Golden Badge of Honor for his extraordinary commitment, will retire at the end of the year. His successor Markus Baumann will be active on the board from January 1, 2026. It will be interesting for the bank to see how this generational change influences its future direction.

In addition, Lars Bretschneider was added to the supervisory board, while Boris Stomprowski left the board at his own request. Dr. Muriel Helbig and Friedemann Kirschstein were re-elected, which underlines the members' trust in the continuity of the Supervisory Board.

Overall, Volksbank Lübeck is on a successful course, confirming the positive development of the cooperative banks in Germany, which recorded good results in the 2024 financial year. According to that Craft sheet The market shares of the cooperative banks even increased by 0.6 percentage points. This shows how important personal support and reliability are in an economic environment characterized by uncertainty.