Central institution
Österreichische Volksbanken-AG (VBAG) is the central institution of the Volksbank sector. It focuses on its new self-understanding on supporting the core business of the 62 regional Volksbanks in Austria.
Due to the retroactive capital write-down of nominal value and simultaneous capital increase by 31st December 2011 the new ownership structure of VBAG is as follows:
Volksbanken Holding eGen: 50.1 %
Republic of Austria: 43.3 %
DZ Bank AG: 3.8 %
ERGO Group: 1.5 %
Raiffeisen Zentralbank Österreich AG: 0.9 %
Others: 0.4 %
Currently VBAG and Volksbanks are working on a reorganisation and transformation VBAG into a sustainable cooperative bank in accordance with section 30a of the Austrian Banking Act (BWG).