Corona aid and increasing digitization – Despite numerous challenges in 2020, Commerzbank reports an increase in customers and construction loans in the region

For the branch, which includes the branches in Ingolstadt, Landshut and Passau, at the beginning of the corona pandemic, the first thing to do was to ensure the company’s liquidity, says Christian Feil, Head of Corporate Customers, in an interview with our newspaper . “It was our most important task to help companies through the crisis.” Last year, Commerzbank provided a total of 7.7 billion euros in KfW Corona loans across Germany, around 70 million euros of which in the branch. “As a house bank, we maintain long-term relationships with many of our customers. This means that we know their business models well and were able to support them quickly. That was important in this situation,” says Feil. The branch had around 1270 corporate customers in 2020.

In 2020, digitization turned out to be the second major trend. This was already apparent in previous years, but was accelerated again by the pandemic. “Many companies are doing more and more financial transactions digitally,” said Feil. In 2020, 50 percent more digital money market loans were taken out than in the previous year. In addition, corporate customers have now made almost all transfers online.

There was also a significant boost in digitization among private customers, said Stephan Sebald, branch manager for private and corporate customers. The number of banking app users in the branch rose by 34 percent last year. The two experts expect this trend to continue unabated after the end of the crisis. According to the information, digital channels also play a major role in the acquisition of new customers. Every third new customer came to Commerzbank online in 2020. “In 2020 we were able to win a total of 2711 new customers in the Regensburg branch. We now look after 91169 customers here,” said Sebald.

And the financial experts saw something else: their customers paid more attention to their investments during the lockdown. “Many took advantage of the fall in prices in spring 2020 and bought securities – some of them for the first time,” said Sebald. Securities savings plans were particularly popular: their number rose by 50 percent in the branch. Overall, the deposit volume increased by 3 percent to 857 million euros.

Commerzbank also recorded an increase in mortgage lending. “The crisis has increased the desire for home ownership once again. Properties with gardens and balconies were particularly popular,” said Sebald. New business rose by 204 million euros, an increase of 14 percent compared to the previous year. The total volume is now 1.024 billion euros. More and more customers pay attention to ecological aspects when building or renovating. Nationwide, every fifth mortgage loan from the bank is a “green mortgage” that grants an interest discount for energy efficiency, according to Sebald.

Feil and Sebald are cautiously optimistic for 2021 – depending on how the pandemic develops. But the Commerzbank has prescribed a tough austerity course. The branch network in Germany will be almost halved to 450 locations, and international business will be shrunk. The number of full-time positions is to be reduced by around 10,000 by the end of 2024. What effects this will have on the locations in the region cannot be said at the moment. DK

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