Account fee verdict: Deutsche Bank expected to cost millions

Account fee verdict: Deutsche Bank expected to cost millions

Deutsche Bank calculates according to Federal Court of Justice decision On fee change with charges in the three digit million range. Since clients can recoup fees already paid, the institution expects to set aside 100 million euros in the second quarter, explained CFO James von Moltke at a conference call at the American investment bank. Goldman Sachs. In addition, as a result of this decision, the Group’s income in the second and third quarters is expected to be reduced by approximately EUR 100 million.

For years, German financial institutions relied on tacit approval from their customers when raising account fees. after a decision Karlsruhe It is over. Bundesgerichtshof was recently in the process for a subsidiary of Deutsche Bank postbank It has been decided that banks will need to obtain the consent of their customers for changes in the terms and conditions. The decision states that inappropriate tacit approvals to unsuitable customers.

According to Stitching Warrentest Customers can now pay the fee retrospectively till January 1, 2018 reclaim.

Deutsche Bank seeks solution by autumn

However, by the autumn, Deutsche Bank is looking to find solutions to enforce the fee hike with most of its customers. According to von Moltke, the bank’s earnings in the fourth quarter should be as high as previously planned by management. However, the institute is also preparing to lose customers.

According to the assessment of the financial regulator baffin Can judgment be delivered in banks? Germany It was expensive. In the worst case, the top banking supervisor could cost institutions up to half of the estimated annual net income and Acting Baffin President Raimund Roessler said in May.

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