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Why loans from 50,000 euros have to be reported

2022-06-22T08:13:06.485Z


Why loans from 50,000 euros have to be reported Created: 06/22/2022, 10:00 am By: Stephen Hank Deliberately casual: CEO Martin Mihalovits (right) and CEO Udo Stefan Schlipf. They are wearing polo shirts with the logo of the FIT innovation conference, which is taking place again in October. © Stefan Schweihofer The requirements for banks are becoming increasingly strict. In the meantime, loans


Why loans from 50,000 euros have to be reported

Created: 06/22/2022, 10:00 am

By: Stephen Hank

Deliberately casual: CEO Martin Mihalovits (right) and CEO Udo Stefan Schlipf.

They are wearing polo shirts with the logo of the FIT innovation conference, which is taking place again in October.

© Stefan Schweihofer

The requirements for banks are becoming increasingly strict.

In the meantime, loans from 50,000 euros have to be reported.

This became clear at the balance sheet press conference of the district savings bank.

District

– Consumers' concerns about rising energy prices and living costs are not yet noticeable at the district savings bank.

"People are dealing with the crisis and their money very sensibly," said CEO Martin Mihalovits on Tuesday (June 21) at the annual press conference.

This time it was less about numbers and more about the bank's new philosophy.

Balance sheet total at 2.41 billion euros

The numbers speak for themselves.

Kreissparkasse Miesbach-Tegernsee increased its balance sheet total by almost 7.8 percent to 2.41 billion euros last year.

This reflects the increase in customer loans to EUR 1.76 billion (up 12 percent) and deposits to EUR 1.92 billion (up 6.3 percent).

Like other banks, the Kreissparkasse has to back the loans with equity.

That amounted to 146 million euros in 2021.

The annual profit was 1.92 million euros.

The board of directors and board of directors continue to reject a distribution to the district as the sponsor.

"That stalls the engine," Mihalovits clarified.

"Less equity would mean that we would not be allowed to issue loans to the business people in the region."

Innovation conference again in October

Of course, the money business.

It is the business core of the institute.

However, other banks also master the handling of investments and loans.

And so the district savings bank is now increasingly concentrating on how best to do justice to its roots in the region and its public service mandate.

One component is the innovation conference FIT (Forum.Innovation.Transformation), which will take place again at the end of October and will initiate discussions on important regional topics and network entrepreneurs in a mixture of face-to-face and online formats.

"The success of 2021 proves us right," said CEO Udo Stefan Schlipf.

“Users are still accessing the content available online today.” There are nine hours of digital material.

The Corona crisis with the need to rethink events,

Away from the pure banking service provider

Away from being a pure banking service provider and towards becoming a partner and adviser for the customer, the Kreissparkasse would like to continue to follow this path consistently.

According to Mihalovits, the aim is not to "mercilessly sell products", but to support people in creating a carefree life and self-realization.

"This also includes taking a close look and telling someone when they should better keep their hands off a loan or project," the CEO clarified.

Loans from 50,000 euros must be reported

Keeping a close eye on the economic situation of the bank and its customers is in its own interest.

"We're only doing well when people are doing well," Schlipf recalled.

He can therefore only shake his head at the requirement that loans of 50,000 euros or more must now be reported to the banking supervisory authority in order to identify possible speculative bubbles.

"Consumer protection is being taken ad absurdum, because someone has to pay for these costs and administrative expenses in the end."

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"Responsible scope with the money"

Basically, the people in the region showed a responsible use of money.

So far there have been neither unusual overdrafts nor company bankruptcies due to the economic impact of the Ukraine war.

"People are able to deal with the recession," believes Mihalovits.

Of course, he also assumes that one or the other project will be postponed or not implemented at all for cost reasons.

The Kreissparkasse has been prepared for this pause in growth since 2018.

"Everyone had to be aware that the golden phase of upswing and low interest rates cannot last forever," says Mihalovits.

For his colleague Schlipf, the current challenges also have something good: "We may come out of it with a different level of efficiency."

The Sparkasse in figures

In 2021 there were: 50,900 customers, 39,500 online banking accesses, 21,480 Sparkasse app users, 87,012 calls to the customer center, 297 employees, eleven branches, 60 ATMs, 300,000 euros in donations.

Also read:

Former bank boss Bromme is appealing again after being sentenced.

Source: merkur

All news articles on 2022-06-22

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