OEKB defies recession: profits rise despite the economic flakes!

OEKB defies recession: profits rise despite the economic flakes!

The Austria KückeBank AG (OEKB) and its subsidiaries achieved a positive result in the 2024 financial year, despite the ongoing economic challenges with which the domestic economy is confronted. According to a current report by the OTS, the OEKB group made a profit after taxes of 67.5 million euros and thus exceeded the previous year's value of 64.0 million euros by 5.5 %.

The operational result rose in 2024, although general economic activity in Austria has shown noticeable flattening since 2023. Industrial production and export demand in particular have suffered from this. In addition, despite the sunken inflation, consumption does not show any significant growth impulse. It is all the more remarkable that the OEKB Group also expects good earnings development for 2025.

support of the economy

In these difficult times, OEKB remains a central player to stabilize the domestic economy. The bank supports export companies with the help of special measures that were developed in cooperation with the Federal Ministry of Finance (BMF). A package of measures to secure supply chains and the promotion of sustainable energy supply was decided.

An important part of this support is the introduction of the “storage investment”, which includes financing of inventory and loans to suppliers. In addition, targeted financing offers for foreign banks and project developers were created with the "shopping lines" to promote small and medium -sized companies (SMEs).

Financial key figures at a glance

The financial key figures of the OEKB Group reflect the positive business development:

For the OEKB group, this means an increase in the overall result of 26.5 %. However, this development is also influenced by insurance mathematical effects in pension provisions.

economic framework conditions

It is important to note that the Austrian economy reports according to The press continues to struggle with significant challenges. In 2023, Austria experienced the third year in a row a decline in economic output, with forecasts that expect slight growth of 1.1 % to 1.2 % for 2024. However, this is not a reason for the all -clear because there are uncertainties about future economic development.

The Austrian National Bank has adapted its forecasts for 2023 to a minus of 0.1 %. Further measures for household consolidation are necessary to ward off an impending deficit procedure. This could affect the so -called "climate monus" and numerous grants, which could lead to an increasing burden for the population.

Overall, the OEKB group with over 500 employees and an extended product and service portfolio remains well positioned in order to meet the challenges of the economy and prepare for future developments.