Photo of the headquarters of the Kreissparkasse at Cologne Neumarkt from last year / March 2020, archive photo: Eppinger
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Every second payment is already contactless
Cologne | The corona pandemic and the associated lockdowns also pose major challenges for the Kreissparkasse Köln. “In the first few weeks of the last lockdown in spring 2020, we registered a very high demand for cash, as customers feared the banks would be closed. That was a logistical challenge for us, ”says CEO Alexander Wüerst, who yesterday presented his company’s annual results for 2020.
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Even in the company itself, challenges had to be overcome at short notice. These ranged from the procurement of Plexiglas walls for the checkout and service areas as well as masks and disinfectants to the reorganization of work processes. A third of the employees are currently working from home. Now with the second lockdown, the counter business was restricted in 46 of the 116 branches. “Personal advice is still possible in all branches by appointment. The teams are on site for this, ”reports Wüerst.
Online banking has increased significantly in Corona times. 66 percent of private and 82 percent of corporate customers have activated their accounts online. That is an increase of 3.7 and 2.2 percentage points, respectively. The number of users of the Sparkassen app rose by 30 percent to almost 188,000. There was even more significant growth in contactless payment, for example in the supermarket or at the petrol station. While every third card payment was made contactless in December 2019, it was already every second last year. That means an increase of 120 percent. The strong increase is mainly attributed to the introduction of Apple Pay, which affects both card payments and payments with smartphones.
In times of crisis, there is strong demand for advice via digital channels such as text or video chat, which has been offered since 2013. What is new is the so-called “media advice”, which is offered by a team of 14 employees. In contrast to the anonymous call center, customers are assigned a permanent advisor. Currently, around 50 consultations are carried out here every day via video chat. The number is significantly higher for telephone customer service. There are 4,000 consultations per day here. Since March 2020, the “Yes – Identity and Trust Service” has been a new addition to the digital sector.
In times of lockdown, an important area of advice relates to public funding programs, such as those of the NRW Bank and KfW. 895 loans in the amount of 245.2 million euros were passed on to companies by the Kreissparkasse from the Corona special programs in the course of the year. In addition, new promotional loans for the promotion of small and medium-sized enterprises, commercial construction projects and private housing were approved. Here the number of these loans rose to around 3,000 with a volume of 625.8 million euros.
In addition, there was a suspension of interest and repayments in the commercial and private sectors in the first few months of the crisis. In the case of commercial loans, this was the case in 3,000 cases and amounting to 38 million euros. In addition, there were 1,600 private customers who took advantage of this opportunity. While there were no major defaults in the lending business for the Kreissparkasse in 2020, increasing insolvency figures and the associated increasing defaults are expected for the current year. Correspondingly, provisions have already been made here.
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Balance sheet Kreissparkasse
Lending business There were new loans amounting to 4.3 billion. The loan portfolio grew by 4.3 percent to 21.9 billion euros.
Financial assets Here, customers have accumulated twice as much assets in accounts and custody accounts as compared to the previous year, with 2.3 billion euros. The securities business has picked up speed significantly. Net sales doubled to 679 million euros.
Earnings position Earnings before taxes for 2020 amount to 99 (previous year 107) million euros. The balance sheet total increased by EUR 1.8 billion by 6.6 percent to EUR 28.6 billion. The core capital ratio is 14.7 (previous year 15.2) percent.
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By Stephan Eppinger |
03/03/2021 | 1:30:20 pm
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More news from Cologne’s economy
Cologne | The trade in Cologne is economically divided into two parts. Some can continue to work in the corona pandemic and others are threatened in their existence by the lockdown. These include hairdressers, beauticians, bespoke tailors and stand builders.
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red |
02/25/2021 | 8:36:24 pm
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Interview with the President of the Chamber of Commerce and Industry, Dr. Nicole Grünewald
How are you currently experiencing the situation in the second lockdown?
Dr. Nicole Grünewald: The situation at our member companies is twofold. There are many companies in industry that are adapting well to the situation and that have also been able to implement the required hygiene rules accordingly. These are companies that are currently getting through the crisis well. The other part is directly affected by the lockdown. This includes the hotel and catering industry as well as the event industry and stationary retail. The frustration is very high and the worries are very great. The company was particularly troubled by the situation with bridging aid, which can only be applied for in a very bureaucratic manner and whose disbursement is very slow. This is exacerbated as the end of the lockdown is not clearly foreseeable. This burden is not only financial but also psychological. This raises the anxious question of which companies will survive this crisis in the end.
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By Stephan Eppinger | Photo: IHK / Norbert Hüttermann |
02/21/2021 | 12:45:41 pm
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Difficult year for tourism in Cologne
Cologne | The corona crisis brought significant setbacks for tourism last year. With 1.44 million arrivals and 2.56 million overnight stays, there was a decrease of more than 60 percent. “The downturns are drastic and the effects on the entire industry are extreme. Nevertheless, it could have been even worse for Cologne, ”says the managing director of Cologne Tourism, Jürgen Amann. The fact that the declines in cities like Munich or Berlin were even more dramatic is also due to the fact that Munich has more international guests and Berlin has a larger share of business travelers.
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