Münster (dpa/lnw) - The turnaround in interest rates, the effects of the Russian war of aggression on Ukraine with the energy crisis and fears of recession made business considerably more difficult for the savings banks in Westphalia-Lippe in the second half of 2022. The commitments for construction loans to private customers fell in the second half of the year compared to the previous year from 4.0 billion to 2.9 billion euros, as the Savings Banks Association of Westphalia-Lippe announced on Tuesday in Münster.
At the presentation of the 2022 balance sheet, Sparkasse President Liane Buchholz spoke of a state of shock in the real estate sector. She cited the sharp rise in interest rates, high real estate prices, lower disposable income due to inflation and unstable subsidy conditions as reasons. However, because the positive trend from 2021 continued in the first half of the year, the drop in new commitments for housing construction loans of 6.6 percent to 7.5 billion euros was still bearable.
After mergers at the beginning of 2023, the number of savings banks in the Westphalia-Lippe association is 50. The total balance increased by 2.4 percent in 2022 to a total of 166 billion euros. The number of employees fell from just over 22,000 to around 21,500.
