Sparkasse Darmstadt puts account prices to the test

• fromJens Joachim

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Sparkasse Darmstadt is also increasing total assets and earnings in the Corona crisis. The annual surplus, which will decrease from 16 to five million euros, will only be distributed to the city of Darmstadt and the Darmstadt-Dieburg district at a later date.

The corona crisis also passed almost without a trace at Sparkasse Darmstadt. “A year ago I would not have thought that we would be able to present such robust figures,” said Sascha Ahnert, the spokesman for the Sparkasse Darmstadt’s board of directors, when presenting the annual balance sheet for the past year. Last year, the bank decided to keep all branches open. “In retrospect, that was the right decision,” says board member Jürgen Thomas. Although the effects of the pandemic had “caused economic ‘scratches'”, these were “manageable”, said Thomas.

The total assets of Sparkasse Darmstadt grew by around twelve percent to 5.5 billion euros compared to the previous year. According to the two board members, this development is almost exclusively due to customer deposits. While the Sparkasse recorded growth of just over two percent in the lending business, the accounts of customers were “almost flooded” with 503 million euros by almost 13 percent, said CEO Thomas.

This is due to the reluctance to invest due to the corona and the non-possible consumption of private households. Thomas: “The summer or winter vacation 2020 is in euros on the accounts”.

Vacation pay in the accounts

According to the Sparkasse Board of Management, the efforts in sales, despite the Corona crisis, have resulted in ordinary earnings increasing by one million euros or more than two and a half percent to 39.1 million euros. In addition to the insurance and securities business, the real estate business was also the “driver of success”.

Also because the equity capital was strengthened, the annual surplus decreased from 16 to five million euros compared to the previous year. Due to a binding recommendation by the Bundesbank, the surplus is currently not being distributed to the City of Darmstadt and the Darmstadt-Dieburg district. The Management Board will therefore propose to the Administrative Board that the decision on the appropriation of profits be postponed to the fourth quarter.

The two board members also announced that they want to reduce costs and increase efficiency this year. For example, it is planned to scrutinize prices in private giro traffic in the first half of the year.

Last year, construction of the new “Neo” administration building, which should be ready in the second half of 2022, began on an area at the western entrance to Darmstadt.

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