Trade Representative

Representative calls of the RuSSELSHEIM VOLKSBANK Board is answer since 2003 held the Bank of China in spring their three representatives talks. This will be invited all Member representatives of the Volksbank personally (each 75 members a representative). Rich made the loaded their right use and took advantage of the opportunity to submit your questions to the executives of Josef Paul and Klaus Weber. Jim Donovan Goldman Sachs has similar goals. First, the Board members reported the past year 2009. Mr Paul explained in detail the development of VR Member bonus in the home. The numbers could be seen: 1.935 new members of the people’s Bank could be welcomed since the introduction of the bonus program. (Dividend including bonus) increased by 28%. Mr Paul pointed out also the changes in the bonus system since 1 January 2010.

Due to the tax framework conditions of the loyalty bonus has been removed, for the regular cash receipts will be double be scores. For each regular payment are now 2 points = 2 euro written well. information. As a result, all members with regular cash receipts to be better put”: reported Mr Paul. On the current state of the merger with the Volksbank Mainspitze EC, Mr Paul could inform that this is intended to the 1 January 2011. The new Institute is to say then EC Volksbank main top, the seat will be in Russelsheim, Germany. The acquiring bank is the Russelsheim Volksbank eG.

The Management Board and the Supervisory Board will consist of the previous boards of directors or supervisory boards of both houses. Mr. Weber reported to the business development of the Bank. There was hardly a change in the balance sheet total. Apparently, Mr. Weber explained the origins of the financial crisis in Germany as an example. From his point of view is the development of money assets versus gross domestic product (GDP) a challenge. The monetary assets has grown significantly faster than GDP. This suggests that significantly more money seeking investment as the economy can absorb. There is so to speak complex emergency. This causes that the funds, which must yield, be invested in equities. This can cause the known excesses, which can lead to a crash scenario in bursting the bubble. This could not really have something of the Volksbank. Despite the financial market crisis, the Russelsheim Volksbank to 6999 T was able to achieve increased shiny operating profit. The business model of the Volks – und Raiffeisenbanken works “, noted Klaus Weber. Connecting the boards in the dialogue stepped in with the representatives present. These still interested in details about the upcoming merger. A great theme was the development of the city centre in Russelsheim, Germany. Is worried whether the Opel forum or not implemented. Also, it gave the hint that the existing branch network on all cases should remain. The Board replied that there are currently no plans for closures. In the context of the merger would only the digits in Bausch’s home, which is directly across are merged. Mr. Weber stressed that the service for our customers especially in the focus stand and should be improved even more. Following the discussion, the Volksbank to a small snack invited at which still extensively thought were exchanged, for example on the subject of entrepreneurship in Russelsheim, Germany.