100 million euros less profit due to fee ruling

The ruling by the Federal Court of Justice in April this year caused an uproar in the banking industry: From now on, financial institutions must obtain the dedicated consent of their customers when they introduce fees. The silence of the customers no longer counts as tacit consent as before.

The new regulation is also reflected in the current quarterly payments of Deutsche Bank: According to this, the company received 98 million euros less from its customers. “This is essentially about unrecovered income,” it says on the part of the financial institution, as dpa and Spiegel report online.

The additional burden should not cause the Deutsche Bank a big headache: The company was able to increase its profit in the third quarter compared to the same period in the previous year: 194 million euros were achieved. The first half of this year was even the most profitable since 2015.

Only on Tuesday did the financial regulator BaFin increase the pressure on the banks. Accordingly, one has a “watchful eye” on the timely implementation of the Karlsruhe judgment. The warning has a background: from BaFin’s point of view, the institutes are only inadequately implementing the new requirement. “It is important that the institutes take these steps immediately if they have not already done so. It is just as important that bank customers are not put under pressure to adjust their contracts, ”says BaFin. “Should an institute consistently and systematically fail to observe the BGH decision and the expectations of the supervisory authority, BaFin will consider supervisory measures.”

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