Savings banks: Almost like the Silicon Valley Bank: the interest trouble of the savings banks

The savings banks had to write off the price losses on the bonds. President Schleweis is likely to reveal the exact amount of these value corrections on Tuesday, but they should amount to at least six billion euros. As a result, the profit of the savings bank group should be significantly lower than in the previous year, when the institutes still achieved a pre-tax profit of almost six billion euros. The result could be that some savings banks can distribute less profit to their sponsors, the municipalities, cities and districts. A few savings banks could even have made losses because of the write-downs – like the one in Zwickau.