As of: March 25, 2024, 1:26 p.m
By: Ursula Gallmetzer
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The management team of Sparkasse Oberland (from left): Michael Lautenbacher, Markus Lanz and Michael Müller.
© Gallmetzer
The annual report was presented for the first time by the new board at Sparkasse Oberland.
During a conversation at the Weilheim headquarters, the board trio was satisfied with the figures for 2023.
Weilheim – “It wasn’t the easiest year,” admitted CEO Markus Lanz.
For example, the wars were clearly noticeable in the overall economy and politically and the economy was not robust.
“We still did very well,” said Lanz, praising the work of his 655 employees, which he sees as the “foundation for this success.”
“It is the decisions from the past that are now bearing fruit,” emphasized Lanz, also citing the merger with Kreissparkasse Garmisch-Partenkirchen.
Sparkasse Oberland Annual Report 2023: Success despite economic and political challenges
Compared to 2022 (4.82 billion), the balance sheet total was similar last year at 4.83 billion euros.
Deposits even remained the same at 3.62 billion euros.
However, to the Sparkasse's delight, other figures changed significantly: the annual profit rose from 1.22 to 3.5 million euros, which is due on the one hand to the synergy effects since the merger with Kreissparkasse Garmisch-Partenkirchen, but on the other hand, above all, to the development of interest rates .
The number of customers fell from 138,113 to 137,330.
This can also be explained by the merger, as some people were customers of both banks.
Board member Michael Lautenbacher spoke of a “perceived new normal” and “stable conditions at an unfavorable level” with a view to the capital market.
In 2023, the conditions for investments were quite good compared to previous years, and the interest rates were slightly higher again.
Investments are therefore very popular;
The contingent of climate savings bonds was sold out immediately.
“Our goal is to advise customers on how to make a sensible investment,” emphasized Lautenbacher.
Sparkasse Oberland Annual Report 2023: Success despite economic and political challenges
The fact that the interest in money market business cannot be passed on to customers immediately is due to the fact that the money is invested in loans, among other things.
The ECB also plays a role.
“Unbeknownst to many, it was decided not to pay any interest on the compulsory deposit,” explained Lautenbacher.
35 million euros from the savings bank are now there without any interest.
Board member Michael Müller gave an insight into the savings bank's lending business: "Even if the enthusiasm for investment was no longer so expansive, there was an increase," he said, referring to the 3.72 billion euros in loans (2022: 3.61 billion euros ), which are distributed among private customers (1.5 billion), business customers (2.1 billion) and municipalities.
Sparkasse Oberland Annual Report 2023: Success despite economic and political challenges
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There were around 900 construction financing deals with a total of 189 million euros.
“This is a value that we are very proud of,” emphasized Müller.
29 properties were rented and 83 were sold, which corresponds to an increase of 17 percent.
A development contrary to the Bavaria-wide trend, in which sales figures fell by 30 percent.
“That speaks for the quality of our brokers,” said Müller appreciatively.
What is noticeable, however, is that the average value of individual properties has fallen and smaller and used houses are more popular than large new buildings.
Building savings contracts are also popular.
1,700 pieces with a total volume of 129 million euros were signed in 2023.
One area that is booming is insurance - especially in the area of health insurance.
In 2023, a contribution total of 30,868 euros was recorded (2022: 11,924), often in cooperation with employers as an additional benefit for employees.
The board members also dared to look into the future.
Internal work should continue on climate neutrality by 2035.
More photovoltaic systems on the savings bank buildings are planned, among other things.
Sparkasse Oberland Annual Report 2023: Success despite economic and political challenges
From April 2nd, some communities will have to do without a branch with advisors at the counter: Ohlstadt, Böbing/Rottenbuch and Hohenpeißenberg.
Nevertheless, customers can receive personal advice there by making an appointment.
However, telephone advice, which is already used by many people, is being expanded.
The 50 employees in the service centers answered an average of 1,000 calls every day last year.
On peak days, up to 5,000 customers were spoken to.
There were also 25,000 emails and 11,000 chat messages.
In general, online banking is on the rise: 74 percent of customers use it.
Many of them every day.
The printed annual report shows how many areas the Sparkasse is involved in.
276,000 were invested in donations and sponsorship in 2023.
Most in sports (94,000 euros).
There were 62,000 euros for cultural projects, 61,000 euros for the environment and other 45,000 euros in the social sector and 14,000 euros went to educational institutions.
And what's next for the financial year?
Lanz remains cautious, but is still “fundamentally cautiously optimistic.”
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