City parks financing in Düsseldorf reflects a year marked by achievements and hurdles in 2022.
In the face of a tumultuous year marked by the COVID-19 pandemic, the Russian military invasion of Ukraine, a weak stock market, and other challenges, Düsseldorf City Sparkasse has managed to maintain a stable balance sheet, according to the preliminary 2022 annual report presented on Thursday, March 23.
Karin-Brigitte Goebel, the current CEO of Düsseldorf City Sparkasse, is set to retire at the end of the year, leaving behind a legacy of growth and resilience. During her tenure, the bank has seen an increase in customer deposits to 11.8 billion euros, with a savings volume of over 3 billion euros. The credit business with commercial customers at Düsseldorf City Sparkasse grew dynamically throughout the year, with the total volume of credit approvals increasing from 1.34 billion to 1.59 billion.
However, the total volume of claims at Düsseldorf City Sparkasse increased to over 10.6 billion euros due to strong credit business. Despite these challenges, the bank successfully navigated the turbulent waters, with a balance sheet remaining stable at 15.974 billion euros.
The operating profit before valuation increased by 26.4 percent to 82.5 million euros, while operating profit after valuation decreased by 29.7 percent to 62.3 million euros. The net commission income at Düsseldorf City Sparkasse increased by around 3.3 percent, attributed to the tense situation on the capital markets.
Young talents at Düsseldorf City Savings Bank are actively involved in various projects in Düsseldorf, including branches, strategic projects such as Smoney, and increasingly meaningful activities, according to Goebel. The bank currently has 68 trainees and 7 dual students.
In terms of social responsibility, Düsseldorf City Savings Bank provided around 2.2 million euros for 705 projects through donations, sponsorships, PS-purpose accounts, and foundation distributions in 2022. The bank also supported municipal and private initiatives that helped people in Ukraine and refugees in Düsseldorf, including setting up free checking accounts and exchanging Hryvnia for euros.
The "Fyndus" offer from city savings banks, which provides customers with digital wealth management, managed 2,418 accounts with a total assets of 23 million euros by the end of 2022.
As for personnel changes, Uwe Baust left Düsseldorf City Sparkasse at the end of February 2022, and the current board members include Karin Brigitte-Goebel, Dr. Stefan Dahm, Dr. Michael Meyer, and Henrietta Six. The specific details about the future plans of Düsseldorf City Sparkasse are not yet available. For the most accurate and recent information, consulting Düsseldorf City Sparkasse’s official communications or annual reports would be necessary.
The ongoing strategic projects, such as the expansion of the credit business and the implementation of the "Fyndus" digital wealth management offer, have been key factors in maintaining Düsseldorf City Sparkasse's financial stability. Moreover, the bank's dedication to personal-finance issues extends beyond business dealings, as evidenced by their support for Ukrainian people and refugees in Düsseldorf.
