savings banks

The recent German Savings Banks Day offered plenty of food for thought – except on the topic of Banking Union. On that front, the savings banks remain firmly opposed to change – which they mostly see as something others need to undertake.

Increasing geopolitical upheavals are also a concern for the savings banks. In the event of a crisis or war, a substantial proportion of the workforce could be tied up in civil defence or the military, says Rhineland-Palatinate Savings Banks Association President Thomas Hirsch.

Following the upcoming local elections in eastern Germany, many AfD politicians will join supervisory boards at savings banks.

Savings banks are faced with the accusation that they are failing to fulfil their public mandate by offering low interest rates on savings. Wrongfully so!

Due to many individuals falling victim to criminals in payment transactions, ombudspersons at banks and savings banks have a lot on their plate. Frequently, they are unable to assist the customers.

Savings banks subject to public law are finding it difficult to position themselves with regard to the growing right-wing spectrum.