Heated interest rate debate – bank spokesperson: “accommodate” borrowers

The spokesman for domestic banks, Erste Group boss Willi Cernko, also spoke in the recent interest rate debate. He points out that the banks were part of the solution during the Corona years. For example, they ensured that aid was paid or financing was postponed in the event of payment problems.

“Don’t weaken the sector with populism”
He sees the strong and healthy domestic banking sector in jeopardy as a result of the political discussion about a possible “excess profit tax”. “We need to keep the debate level-headed and fact-oriented, and not weaken the sector with short-term populist measures,” Cernko emphasises. Because the ECB also demands – in order to be prepared for crises – that the banks build up equity. Our institutes performed well in the most recent stress test, but were still ‘only’ in the middle bracket in a European comparison.

Borrowers with floating contracts who are in trouble because of rising policy rates must be “accommodated”, Cernko announced. Follow details.

Oberbank boss: Not so many savings products for a long time
In response to the complaint about high debit and low interest rates on payment accounts, Oberbank boss Franz Gasselsberger emphasized to the banking association that payment accounts do not have an investment function, but are used for payment transactions. There are more savings products than there have been in a long time.

Be careful with overdraft, here 5.9 to 13.5 percent debit interest. Because you can use the “availability limit” at any time (you must apply for a consumer credit), the banks charge considerably more here. Therefore, use only in emergencies.