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Auto Shows Sparkasse Köln-Bonn: High loan defaults are expected in 2021

17:05  17 march  2021
17:05  17 march  2021 Source:   ksta.de

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The Sparkasse Köln-Bonn is concerned about the lending business in 2021. As CEO Ulrich Voigt announced at the annual press conference via video chat, the public-law institute is preparing for significant loan defaults as a result of the corona pandemic. Regarding the outlook for 2021, Voigt said: "We expect risk provisioning for loan defaults in 2021 with a high double-digit million amount, in the direction of 100 million euros."

Filialbus der Kreisssparkasse Köln-Bonn. Während der Bonner schon fährt, verzögert sich die Auslieferung des Fahrzeugs für Köln. © SKB Branch bus of the district savings bank Cologne-Bonn. While the Bonner is already driving, the delivery of the vehicle for Cologne is delayed.

This sum includes both lump-sum value adjustments, which a bank makes in the amount of a certain percentage on all receivables, as well as individual loan losses, the so-called individual value adjustments.

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This would correspond to almost four times the risk provisioning compared to the balance sheet presented on Thursday for the past financial year 2020. For 2020, value adjustments of 28 million euros were posted in the balance sheet, in the previous year it was 22. Despite the burdens of the pandemic on companies of all sizes However, the loan defaults in 2020 were significantly lower than assumed in advance.

17 branches were closed - waiting for branch bus

Last year the Sparkasse Köln-Bonn massively thinned out its branch network. In December 2020, 17 branches were closed, so the bank now has 65 branches. To make up for the lack of bank branches, the Sparkasse promised to use two mobile branch buses.

The Bonn bus has been running since last year, the Cologne branch bus should start in autumn. Nothing came of it. The bank is still waiting for the vehicle. “We are already going to a location in Cologne-Zündorf with the Bonn bus. The order and preparation of the bus have been delayed due to the corona. But it is now ready to go and the stops in Cologne have also been set, so that the bus will start its journey early in the 2nd quarter, ”said bank manager Voigt when asked.

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Fewer, but larger building loans strengthen the lending business

The Köln-Bonner Sparkasse was able to grow particularly in the lending business despite the crisis year. New business rose by ten percent to 3.3 billion euros. The growing demand for credit from companies was able to more than compensate for a decline in private customers. However, the demand for home loans increased among private and commercial customers.

The new commitments for real estate loans rose by 144 million to 1.8 billion euros spread over about 5000 construction projects. "We observe that almost all customers have their own apartment, which is reinforced by cocooning in the Corona crisis," said Voigt. However: In 2019 there were 5500 financings. Compared to 2020, this shows: Lower market volume in the corona year and generally higher prices on the real estate market.

Penalty interest on larger savings balances

Despite interest rates at zero level and below, customers saved more than in the previous year. The sight deposits, i.e. the money in non-interest-bearing current accounts, rose by one billion to 14.7 billion euros. Savings deposits and savings bank letters were less in demand due to the unattractive interest rates. In contrast, however, investments in securities. The portfolio volume in the turbulent stock market year 2020 rose by four percent to 14.4 billion euros.

That is certainly also a consequence of the Sparkasse's penalty interest rate policy. Old customers with more than 100,000 euros and new customers with more than 50,000 euros now have to pay a negative interest rate of 0.5 percent. However, the Sparkasse does not want to follow the example of the PSD Bank, which raised the penalty interest rate to one percent, said Voigt. The approach of the Stadtsparkasse Düsseldorf - it had terminated customers with high credit balances - is not an issue in Cologne at the moment, said the board of directors.

The annual surplus was satisfactory at 109 million euros after 110 million in the previous year. With 49 million, almost half of this was set up as a reserve in view of the deteriorating economic situation in the country (fund for general banking risks).

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