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The headquarters of Deutsche Bank in Frankfurt.
According to a ruling by the Federal Court of Justice, the company expects high costs
Photo: Arne Dedert / dpa
According to the ruling by the Federal Court of Justice on changes in fees, Deutsche Bank expects charges in the three-digit million range. Because customers can reclaim fees that have already been paid, the institute will probably set aside 100 million euros in the second quarter, explained CFO James von Moltke at a conference of the US investment bank Goldman Sachs each turn out to be around 100 million euros lower.
For years, German financial institutions had relied on tacit approval from their customers when increasing account fees.
After a ruling from Karlsruhe, this is over.
The Federal Court of Justice recently ruled in proceedings involving the Deutsche Bank subsidiary Postbank that banks must obtain the consent of their customers in the event of changes to general terms and conditions.
The presupposed tacit approval disadvantageous customers inappropriately, it said in the judgment.
According to Stiftung Warentest, customers can now reclaim the fees retrospectively until January 1, 2018.
Deutsche Bank wants to have solutions by autumn
By autumn, however, Deutsche Bank wants to have found solutions to enforce the fee increases with the majority of its customers.
According to von Moltke, the bank's earnings in the fourth quarter should be as high as previously planned by management.
However, the institute is also preparing to lose customers.
According to the financial supervisory authority Bafin, the ruling could cost the banks in Germany dearly.
In the worst case, the decision could cost the institutes an estimated half of the annual surplus, the supreme banking supervisor and acting Bafin President Raimund Röseler said in May.
nek / dpa
