The KfW loans are also an aid package for the banks

Headquarters of the KfW banking group in Frankfurt Many companies are currently dependent on loans from the state development bank KfW. (Photo: dpa) The Federal Government’s new KfW quick loans are an oath of disclosure for the German financial sector. With around 1,700 banks and savings banks, Germany has more credit institutions than any other […]

The first savings banks worked with interest rate platforms

Hamburger Sparkasse The institute cooperates with the Deposit Solutions interest platform. (Photo: imago images / Waldmüller) Frankfurt Hamburger Sparkasse (Haspa) has recently started cooperating with the Deposit Solutions interest platform. Some customers of the largest German savings bank can invest money with other banks via the “Haspa interest rate guides”. This is about time deposit […]

Installment loan business turns from a profit-maker to a risk of loss

Frankfurt The danger is real: banks will not only be affected by the rise in bankruptcies in the wake of the corona crisis. When it comes to loans to consumers, Germany’s financial institutions can expect higher defaults than before. An indication of this: the increasing number of personal bankruptcies. The information service provider Crifbürgel expects […]

S&P downgrades Commerzbank’s credit rating

Deutsche Bank and Commerzbank The rating agency warns of a significant deterioration in results. (Photo: dpa) Frankfurt The rating agency Standard & Poor’s (S&P) has given it a thumbs-up because of the economic impact of the corona crisis at Commerzbank, Deutsche Bank and other German financial institutions. At Commerzbank, S&P downgraded the credit rating by […]

The real estate boom and low interest rates make savings banks builders

Frankfurt When Sparkasse boss Jürgen Schüdde looks out the window of his office, he looks at a modern apartment building: white walls, floor-to-ceiling windows, glazed balconies. It is not just any house, but that of Sparkasse Starkenburg. Three years ago, the Heppenheim bank bought and built the site right next to its headquarters. Today the […]

Thousands of consumers are applying for credit deferrals

ATMs The savings banks alone have applied for more than 80,000 customers to defer their payments. (Photo: dpa) Frankfurt Thousands of consumers have applied for credit to be deferred in the Corona crisis. According to the Sparkassen- und Giroverband (DSGV), the savings banks alone have so far suspended interest and principal payments from 80,000 borrowers. […]

Customers remain loyal – almost no cash outflows in March

Frankfurt While investors in Europe fled from investment funds with the outbreak of the corona crisis, Dekabank’s business has remained almost stable. Georg Stocker, the new chief executive of the savings bank fund service provider, said on Tuesday: “Looking at sales shows that customers have been very prudent so far.” In March there were almost […]

BayernLB is sticking to the realignment despite Corona

Frankfurt BayernLB intends to continue its strategic realignment despite the corona crisis. “We remain completely convinced of this,” said CEO Stephan Winkelmeier on Friday when presenting the balance sheet for the past financial year. Shortly before Weihachten 2019, Winkelmeier presented a multi-year plan up to 2024, the core of which is the expansion of the […]

Distributions

Helaba Like other financial institutions, the Landesbank Hessen-Thüringen is suspending the dividend payment for the time being. (Photo: dpa) Frankfurt An increasing number of banks are following the recommendation of the supervisory authorities and suspend distributions to their owners. The Landesbank Hessen-Thüringen (Helaba) is not paying a dividend for the time being. A Helaba spokesman […]

Overseers postpone stress test for smaller banks by one year

Frankfurt am Main financial district Frankfurt The Bundesbank and the financial regulator Bafin postpone their planned stress test of smaller financial houses by one year due to the virus crisis. The institutes that are not directly monitored by the European Central Bank (ECB) would only be subjected to the debit check in 2022 instead of […]