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RLB Tirol AG management board statement
Dr Hannes Schmid
Reinhard Mayr
Dr Thomas Bock
management board chairman
management board director
management board director
RLB Tirol AG management board
statement
Dear Readers,
Another volatile year lies behind us. A year marked by increasing pessimism, in which some
people had difficulty finding anything positive to say about the future. How hard this was for
many people was also apparent from the public debate on whether the eurozone was capable of
surviving in the face of global competition. One of the factors precipitating doubts about Europe
was the economic situation in Greece, which had to be rescued in March 2012 with debts worth
around 100 billion euros being written off.
Meanwhile, Spain and Italy also had major debt-refinancing problems during 2012. The se-
vere and protracted banking crisis became a full-blown national crisis, the overarching issue be-
ing budgetary discipline in public spending. At this point the European Central Bank took the
initiative, indicating its willingness to intervene on the money markets, a move which thankful-
ly calmed the financial market situation somewhat. Meanwhile, though, the European economy
had fallen back into recession and, by the end of the year, already weak economic performance
had reached a low point. Against this dispiriting backdrop, even the modest GDP growth experi-
enced by a few, such as Germany and Austria, was a positive exception rather than the rule.
In view of this we are all the more pleased to be able to report that Raiffeisen-Landesbank Tyrol
AG performed very well during 2012. At 24,7 million euros, our profit from ordinary activities not
only held its ground but even grew
slightly, giving us good reason to view the future with optimism, even if that future does bring
additional rules and regulations to bear on the banking industry. The good 2012 result meant a
further boost to our equity, and with an above-average equity ratio of almost 12 per cent we feel
excellently equipped to cope with the impending changes.
Another reason to look to the future with optimism is the 2017 strategy, a plan which we have
devised in collaboration with other Tyrolean Raiffeisen banks. This unique process, to which all
81 autonomous Raiffeisen banks have signed up, paves the way for a successful future. A fu-
ture which can build on 125 impressive years of experience and tradition. This is one more rea-
son why the trust that Tyroleans place in the security and quality of Raiffeisen Banking Group Ty-
rol remains unswervingly high. For this we would like to thank our customers, partners, owners
and every single one of our employees. We are convinced of our ability to ensure that the future
of RLB Tyrol AG is a positive one, and look forward to the continuation of our successful working
relationship over the coming year.