13. April 2015

Fitschen continues to see big challenges for banks

"This is and remains a time of big challenges for banks,” said Jürgen Fitschen, President of the Association of German Banks, at the annual reception in Berlin. “On top of the significant effort banks have to put into implementing and meeting new regulatory requirements, low interest rates are placing a heavy burden not just on savers and investors, but on banks too.”

Owing to the high importance of interest income, German banks were especially hard-hit by the low interest rates, he continued. In addition, the aversion to risk of many investors was affecting revenue from commission as well. “Less earnings potential on the one hand and higher regulatory costs on the other – this combination is far from unproblematic,” Fitschen said in his speech. “Profitable banks are not a luxury. They’re an absolute prerequisite for an open, export-driven economy such as Germany’s.”

“We’ll only overcome the period of low interest rates if we rigorously tackle the weak growth in Europe and promote investment. This also involves policymakers bearing in mind the impact of financial regulation on economic growth and eliminating obstacles to growth where necessary.”

Press contact:

Lars D. Hofer
Telephone: +49 30 1663-1210


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