Savings bank bosses in saarland withhold millions from the districts and cities by unnecessarily accumulating equity capital and thus driving up their salaries. A frankfurt economics professor has found out about them. Saarlandinside series part 2 about questionable business practices.
For years, savings bank executives have been whining to their board controllers about a difficult business situation. The low-interest phase is squeezing earnings. And – the banking crisis is still in people's minds – many millions of euros would have to be added to equity capital. Despite these problems, however, he said, it was still possible to distribute a few million for the county treasury. It all sounds great. The board of directors is impressed and nods the annual report mostly without criticism.