VB Real Estate Services

Österreichische Volksbanken-Aktiengesellschaft(VBAG) has consolidated all real estate activities into a single management entity and joint umbrella brand. As a further step toward reducing complexity, Immoconsult and PREMIUMRED were also included in VB Real Estate Services GmbH.

On 15 December 2011, the Österreichische Volksbanken-Aktiengesellschaft Supervisory Board approved a new divisional structure. This new structure reflects VBAG's concentration on the core business, its function as the central institution of the Austrian Volksbanks (credit unions).

Immo KAG, which was part of the former Real Estate segment, represents core business and was therefore allocated to the new Market division. All other business units do not constitute core business any longer and will be wound down in the medium term in an orderly, value preserving process.