Mortgage Lending Drives Revival

After a period of decreased‍ liability growth, Sparkasse on ⁢the ⁣Lower Rhine⁣ is reporting a resurgence in its lending business. Bernd Zibell, a board member responsible for lending, attributes ⁣the increase primarily to renewed demand for private construction financing. zibell noted that slightly lower interest rates and an attractive real estate market are fueling the demand.

According to the⁤ financial institution, credit demand ⁢has risen by €21.7 million compared to⁣ the previous year, reaching a total of €374.6 million.⁢ The Sparkasse currently has over €3 billion in⁤ loans outstanding to private and commercial clients in the Moers to Xanten region.

Customer Deposits and New accounts Surge

Customer deposits experienced significant growth,‍ increasing by approximately €170 million last year to nearly €3.4 billion. Giovanni Malaponti, another ⁣board member, stated that investments in well-yielding savings bank bonds were a significant factor in this increase. The Sparkasse also reported growth in off-balance sheet activities, with securities investments increasing by almost €19 million year-over-year to €841 million.

The Sparkasse reported adding approximately 1,700 new customers last year. “Over 1,600 customers came to us from other credit institutions through the account change⁤ service alone,” said Malaponti. The Sparkasse has a especially strong presence among young adults, with a market share exceeding 64 percent in the 18-to-30 age group.

Commitment to ⁣Local Presence and Talent‍ Progress

In contrast to private commercial⁢ banks that are reducing their regional⁣ presence, Sparkasse on the Lower Rhine continues to emphasize its commitment⁤ to the area. Customers can still find personal contact at all 23 branches in Alps, Moers, Neukirchen-Vluyn, Rheinberg, Sonsbeck, and Xanten, as well ⁤as in the customer‍ service⁣ center.

The Sparkasse’s local ⁣commitment extends to supporting⁤ community organizations. Approximately 900 clubs, associations, and organizations in the six municipalities within the bank’s service area will receive donations ⁣and foundation support totaling around €1.4 million ⁣this year. “The great encounters and discussions with the club representatives at our six volunteer forums from May to November show again and again how important the work of the volunteers is in our business area,” Zibell emphasized.

The ⁣Sparkasse is also investing in the development of young talent. Last ⁢year, the institution hired 24 new employees and 22 trainees, representing ⁢what Malaponti described as “the strongest trainee vintage in a long time.” Malaponti himself began his ⁣career with the Sparkasse in Moers in 1989.

Financial stability

With a surplus of €3.5 million, Sparkasse on the Lower Rhine is performing at the previous year’s level and expresses confidence in its future prospects.