Anyone who has a lot of money on the high edge will also have to pay negative interest at the Volks- und Raiffeisen-Bank München-Land in the future. As board member Andreas Müller confirmed in an interview with SZ, the “custody fee” is to be introduced by the end of this year for amounts above 100,000 euros. This affects around ten to 15 percent of customers, including companies. According to Müller, negative interest rates for deposits at the European Central Bank (ECB) are also causing problems for the VR Bank. “We had to take up the issue and only pass it on to the customers in the amount that we are burdened ourselves with,” he says. It is 0.5 percent.
The affected customers who currently have such sums in their current account have already been informed in writing by VR-Bank. You will be presented with an alternative offer to invest your money. “Investment behavior has changed,” says Müller. With the exception of real estate, very little is invested in tangible assets such as stocks. The crowd is going in the direction of savings contracts. Müller speaks of a “good development”. The demand for gold and silver has also increased massively. “It is important not to put all your eggs in one basket,” said Müller. He does not see that interest rates will rise in the foreseeable future. “It is relatively hopeless that the interest rate turnaround will come,” said the board of directors. With Corona and the new debt, the hope for it was clearly removed.
Overall, VR-Bank can look back on a “stable” 2020 financial year. The growth path continued, the customer volume served (5.48 billion euros) and the balance sheet total (2.3 billion euros) rose again. VR-Bank currently has 60,670 customers in the districts of Munich, Bad Tölz-Wolfratshausen and Ebersberg. The customer funds were given entirely in the form of loans in the region. The bank has invested 8.7 million in two of its own new construction projects. In Münsing, she is building two residential and commercial buildings with a new office and 18 apartments, which are due to be completed in 2022. Another location will be built at Haar train station with eight apartments by 2023.