A successful half year for Hypo Oberösterreich

Hypo Oberösterreich can take a look at the successful first half of 2022. Hypo General Manager Klaus Kompfmüller asserts, “Thanks to our successful activities in the field of customer business, we have been able to overcome difficult external conditions very well.”

Overall, a half-year pre-tax result of €12.0 million was achieved, which is not quite close to the previous year’s excellent result of €14.9 million. Total assets remained flat at €8.06 billion (December 31, 2021: €8.16 billion).

One of the success factors has been the strong lending activity. The volume of financing increased from a high of 180 million euros to 5.78 billion euros (31 December 2021: 5.60 billion euros). The growth in the lending business has been driven by a large customer segment. Here, the volume of financing increased by 6.5 percent to 3.10 billion euros (31 December 2021: 2.91 billion euros).

But the business with financing private residential construction has also gone well. A new volume of 131 million euros was achieved in the first six months. This represents an increase of approximately 16% compared to the first half of 2021. “This clearly confirms our position as the premier housing bank in the state,” explains Kumpfmüller.

In the outlook for the year as a whole, it is expected that “a good result should be slightly lower than the level of the previous year”. In light of the current geopolitical situation, uncertainty among clients, reluctance to sell securities and weak demand for financing housing construction are noted.