Press releases

March 17, 2020

2019 financial year: high level of profit before taxes / institutions prepared for an economic downturn

In 2019, the 841 local cooperative banks, Sparda banks, PSD banks, and cooperative specialized institutions are expected to have achieved a profit before taxes of €7.6 billion in 2019. This year-on-year increase of 19.3 percent was primarily due to the exceptionally strong uptrend in the capital markets. Lending rose by 6.0 percent and deposits by 5.5 percent during the reporting period. Whereas net fee and commission income climbed by 5.7 percent, there was a moderate decrease in net interest income of 0.6 percent.
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September 04, 2019

Striving for more security – new EU rules for online payments processing

The second stage of PSD2, the new EU payment services directive, comes into force on September 14. The aim is to further improve the security of online banking and online credit card payments. Matthias Hönisch, expert for payments processing at the Bun-desverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Associa-tion of German Cooperative Banks], knows what changes the new rules will bring.
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August 21, 2019

German Banking Industry Committee supports transitional period for strong customer authentication of online card payments

The German Banking Industry Committee (GBIC) stated against the backdrop of today’s announcement by the Federal Financial Supervisory Authority (BaFin) of transitional arrangements for the authentication of online card payments that banks have almost completed their preparations for the implementation of strong customer authentication through the use of the 3-D Secure procedure.
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