Volksbank Mittelhessen is targeting growth through new sources of revenue, and can envisage further mergers even after the deal with its neighbouring bank VR-Bankverein Bad Hersfeld-Rotenburg. Although this is not currently under discussion, the Giessen-based company is willing to talk if new opportunities arise, CEO Lars Witteck explains in an interview with Börsen-Zeitung. „We want to grow both through mergers and organically," he says.

The merger of the two cooperative banks will take effect on 1 January, and create an institution with total assets of 12 billion euros. It will be one of the ten largest co-operative banks in Germany.

In order to drive organic growth, Volksbank intends to expand its involvement in the property sector and renewable energy, in which it is already active with its own project development and subsidiary companies. According to the CEO, a total of 35 wind farms have been financed since 2011. The focus is also shifting to the area of medical care. „We have clear earnings expectations for what we want to have achieved in these „beyond-banking' pillars by 2028,“ says Witteck, without giving any figures.

The Giessen-based company hopes that the VR-Bankverein, which has developed some areas of activity that go beyond traditional banking, will provide additional impetus in terms of sources of income, and create added value for customers and members. „Many people talk about ecosystems, and they have simply created one,“ says Witteck.

He describes corporate culture as indispensable for finding and retaining good people. This factor is becoming increasingly important. As personnel requirements are becoming increasingly difficult to meet, as is the case everywhere in the industry, Volksbank has launched its own lateral entry programme. Over the course of seven months, it is currently training around 30 people, including former retail and publishing staff, to work in the branches.