” the successful model of the German Savings Banks will be transferred directly to Greece .”

Meeting Stournara the administration of the German savings banks Sparkassen-Finanzgruppe

By George J. Dimitromanolaki


Two branches one in Patras and one in Northern Greece, Katerini promotes according to all indications, the administration of the German savings banks of the famous Sparkassen-Finanzgruppe. The administration of the German Savings Banks presented the Finance Minister Yannis STOURNARA a comprehensive plan for the operation in the first phase of the two branches. The role of two new branches will be enhanced mainly SMEs while after Patras and Kilkis design provides for the establishment of stores in Veria , Kilkis , and Kalamata . Information indicates that Mr. STOURNARA reserved to reply to administration of the German Savings Banks saying to wait for the results of Black rock for the four systemic banks.

In recent statements, the president of the German Savings Banks , Georg Farenson said at a special event organized by the Chamber Ellinogermaniko that

” the successful model of the German Savings Banks will be transferred directly to Greece .”


In Germany there are 3 pillars in the banking system . The first pillar consists of private banks ( eg Deutsche Bank) second financing banks ( eg Volkswagen Bank) and the third – cooperative savings banks such as the Sparkassen-Finanzgruppe with 431 different banks, Landesbanken with 10 different banks and 10 real estate financing banks . Regarding the Landesbanken there is only one in each state and the Sparkassen-Finanzgruppe have 16,000 stores across Germany other operated under a single central government. This includes the Bordesholmer Sparkasse AG, Spar-und Leihkasse zu Bredstedt AG, Sparkasse Bremen AG, Hamburger Sparkasse AG, Sparkasse zu Lübeck AG, Sparkasse Mittelholstein AG etc.

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