There are several European banks that operate under the name "Volksbank" (German for "people's bank").
There are also 1,099 independent local Volksbanken in Germany. They are completely separate from the Austrian Group Volksbank. Volksbanken are also known as VB (the name has the same origin as VW Volkswagen - VOLK is the German word for people) or as VR (VR means Volksbanken Raiffeisenbanken). The German association is one of the world's largest financial conglomerates and is both larger and more important than the Austrian Volksbanken-AG.
Germany - Volksbanken Raiffeisenbanken
|Industry||Finance and Insurance|
|Operating income||US$ 371,430 million interest income (2012)|
|Net income||US$ 93,000 million (2012)|
|Employees||159,750 in 13,211 branches (2012)|
The "Bundesverband der Deutschen Volksbanken und Raiffeisenbanken" (Federal Association of Volksbanken and Raiffesienbanken) is a consortium of 1,099 independent credit unions, which represents the banks as Germany's tallest banking group in several marketing affairs and as service partner (Genossenschaftliche Finanzgruppe Volksbanken Raiffeisenbanken - Cooperative Financial Group).
The Genossenschaftliche Finanzgruppe is the only banking group which survived the financial crisis without any State intervention.
Companies of the Genossenschaftliche Finanzgruppe
- DZ BANK - Central Bank of Germany
- WGZ BANK - Central Bank of Rhineland and Westphalia
- DG HYP - mortgage bank
- Münchener Hypothekenbank - mortgage bank
- WL BANK - Investment for banks
- Bausparkasse Schwäbisch Hall - building society
- R+V Versicherung - insurance services
- Union Investment Gruppe - asset management
- VR LEASING Gruppe - investment financing
- easyCredit - personal loans
- DZ PRIVATBANK - private banking, asset management
- VR Equitypartner - equity funding
- VR Mittelstandskapital
13 January 2013 robbery
On 13 January 2013 robbers stole goods from 100 private safe deposit boxes located in Steglitz, Berlin. In the official statement the police said that bank security officer noticed smoke coming from the deposit room on Monday morning (January 14). Next they found broken deposit boxes and a 30 m tunnel, the digging of which probably took a couple of weeks or even months. The tunnel (external pictures) was reportedly so well constructed that it had ceiling supports and was about 3 feet wide. It connected the bank deposit and a nearby underground parking lot. Probably nobody noticed anything, because the parking lot was shielded by roulettes, and people thought that this part was under repair. There are some similarities between this robbery and the Baker Street robbery in London.
Austria - Österreichische Volksbanken-Aktiengesellschaft
|Industry||Finance and Insurance|
The "Österreichische Volksbanken-Aktiengesellschaft" (Limited liability company of Austrian Volksbanken) was founded in 1850 and is a retail banking group based in Vienna, Austria. It currently operates in Austria, Hungary, Romania and Malta.
The shareholders of Österreichische Volksbanken-AG ("AG" is the abbreviation for "Aktiengesellschaft", which means "company limited by shares") are:
- 50,1 % Volksbanken Holding (comprising local Volksbanken in Austria)
- 43,3 % Republic of Austria
- 3,8 % DZ Bank Group
- 1,5 % ERGO Group
- 0,9 % Raiffeisen Zentralbank (RZB)
- 0,4% free float 
After failing the European stress test in June 2011, the Österreichische Volksbanken-AG will not pay back the dividends, which also include the capital for participation of the state for the third consecutive year.
- http://en.volksbank.com/m101/volksbank/m074_40000/en/individuelle_seite/uebersichtsseiten/uebersicht_konzern.jsp Volksbank homepage, The Group
|Wikimedia Commons has media related to Volksbank.|
Former subsidiaries of Volksbank, which have been sold to Sberbank of Russia: