Profit of Volksbank in Serbia in 2008 - 9m EUR

Volksbank in Serbia registered profit in amount of 9m EUR in the first eight months of the year 2008.

President of the Executive Board of Volksbank, Aksel Humel, said that it was expected that the profit of Volksbank would exceed 10m EUR by the end of the year, that is, it should be about 3 times larger than in 2007 when it had amounted to 3.7m EUR.

- Excellent business results have been achieved thanks to the growth of all segments of the bank's operations, especially the quick growth of mortgage loans and investments in the project financing - said Humel.

President of the Executive Board of Volksbank expressed satisfaction with such development of business and he pointed out that the bank had been operating with losses until he had been appointed to his current position two years before.

In that period, as Humel explained, Volksbank has increased the number of branch offices from 9 to 26, while the number of clients of the bank grows by about 1,500 per month.

Austrian Volskbank is present in Serbia since 2003. It currently serves over 50,000 clients through network of 26 offices in 16 cities all around Serbia.

Naša AIK Banka a.d. Beograd

Volksbank International AG Wien Österreich

Aksel Humel