Hanover. When looking at the current stock prices, many bank customers think that there is nothing good. The spread of the Corona virus on the economy. On Friday, Thomas Mang, President of the Sparkassenverband Niedersachsen (SVN), presented the balance sheet total in the 2019 financial year.
Thomas Mang also came up with that of Corona virus shaken economy to speak.
Coronavirus: Sparkasse association head with a clear demand
“You will not be able to compensate for this with loans alone, but here, even in such a situation – these companies have got into these difficulties through no fault of their own, because they have not made any mistakes – there must also be government support,” quotes the business magazine der IHK Hannover the association president.
He further believes that the entire banking industry is aware that the committed credit lines will be used more in the future.
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>> What is the situation at Eintracht Braunschweig? You can find out HERE!
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>> Should you cancel your vacation? More here!
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Lower Saxony savings banks end the financial year positively
Mang had previously presented the latest figures from Lower Saxony. As the industry magazine Wirtschaft reports, the 41 savings banks in Lower Saxony increased their total assets in financial year 2019 by 5 percent to EUR 114.7 billion. The operating result before valuation fell from EUR 866 million to EUR 850 million (0.76 percent of DBS).
Sparkasse boss Mang said: “Despite these adverse circumstances, our savings banks are stable and we want to stay on the road to success.” Deposits rose by 6 percent to EUR 87 billion. The loan volume grew by 5 percent to EUR 85 billion. Business with companies and the self-employed rose to its highest level in years (+ 7 percent to 44 billion euros). The portfolio of brokered consumer loans also increased significantly (+ 22 percent). (red)
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