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Outlook for 2014
During 2014 we expect the rate of eurozone growth to steadily
increase. The robust economic performance of key trading part-
ners such as the USA and UK and the improved competitiveness
of many countries all point towards a sustained period of growth
for the export industry, while the damping effect of government
spending cuts will simultaneously be on the wane. In view of this,
we expect the Austrian economy to grow by 1.5 per cent during
2014. One possible source of risk is the eurozone’s continuing
structural and debt crises, since a renewed outbreak of tension
on the financial markets could compromise growth. Because
Tyrol’s economy benefits less than the rest of Austria from the
recovery of the export market, we expect growth here to be
slightly below the national average. Accordingly, the market
environment in Tyrol remains challenging.
At both the European and national level, the financial industry
faces new burdens. Thus funds will in future have to be made
available for the single resolution mechanism and for deposit
protection purposes, and the significant increasing of the bank
levy further hinders capital accumulation.
In 2014, the key to success for Raiffeisen-Landesbank Tirol AG
remains a sustained focus on customers. We are a financial
partner that the people of Tyrol and the domestic economy can
rely on. We do business we know with customers we know. Our
clear focus remains on our retail business.
In both our private and business clientele, we intend to concen-
trate first and foremost on our existing customers. To this end, we
aim to further improve the quality of our customer care and ad-
vice, in so doing giving special attention to our insurance and
securities business. We will continue to pursue the quality
initiative we launched in the care of our private banking and
institutional clients, and alongside offering optimum care for
existing customers, we are also planning selective measures
aimed at winning new customers. We also see great potential in
the corporate client segment during 2014 and are launching a
Innsbruck, 21 February 2014
The management board of Raiffeisen-Landesbank Tirol AG
growth initiative designed to tap that potential. We shall also be
collaborating closely with the Tyrolean Raiffeisen banks.
Ensuring our customers’ satisfaction with the services we provide
will remain our most important objective over the coming year.
This applies above all to the Tyrolean Raiffeisen banks, who are
both our owners and our most important customers. For them,
we aim to further enhance our support services and customer
care.
In 2014, the implementation of diverse new regulatory require-
ments will pose a major challenge for us as we set about
adapting to the provisions of CRD IV and the CRR, which
entered into force on 1 January 2014.
Ensuring rapid response times and flexibility are the key competi-
tive factors in a rapidly changing industry, and our dedicated
workforce, for whom we provide carefully tailored support and
training, is vital in achieving this and in securing the long-term
success of RLB Tirol AG. As one of the most attractive employers
in Tyrol, we ensure that we provide high-quality vocational training,
while also promoting the continuing education of young people
through our highly successful trainee initiative. We build in targeted
fashion on the entrepreneurial skills of our senior executives. The
new leadership model calls for entrepreneurial thinking.
Last year, we made significant progress in the field of productivity
and we shall continue steadfastly pursuing this process of
change. In so doing, we aim to bring about sustained changes
in our performance culture. However, it is equally important for
us to preserve a culture of community, and here too we will be
introducing some important initiatives.
Together with the Tyrolean Raiffeisen banks, we at Raiffeisen-
Landesbank Tirol AG, the lead bank for Raiffeisen-Bankengruppe
Tirol, will maintain our market leadership during 2014 and indeed
strengthen our position as Tyrol’s clear number one.
Dr Hannes Schmid
Dr Thomas Bock
MMag Reinhard Mayr
Management board chairman
Management board director
Management board director
Management report