Sparkasse Pforzheim Calw anticipates a strong year in 2023
In the bustling financial landscape of 2023, Sparkasse Pforzheim Calw, one of Germany's leading financial institutions, has released its annual report, revealing a mix of growth and decline across various sectors.
The customer loan segment saw a modest increase of 0.8%, with a total volume of €11.2 billion. However, a significant decrease was observed in mortgage lending, with 2,320 individual closings and a mortgage volume of just €519 million. This drop could be attributed to a combination of economic conditions, regulatory changes, interest rates, market competition, and banking sector trends, although specific factors for Sparkasse Pforzheim Calw remain unclear.
On a positive note, the deposit business experienced significant growth, with customer deposits increasing by 21.6% to €12.4 billion. This growth was particularly encouraging in the fall of 2023, following a declining trend earlier in the year.
The formation of assets was significantly supplemented by the securities business, with an above-average number of new securities accounts. The investment gold account, which allows customers to use gold as an investment, also remained highly popular, with a rise in delivery claims to 7.2 tons.
Turnover in gold trading fell by 8 tons to 12.5 tons due to changes in customer behaviour and attractive interest products. The profit of Sparkasse Pforzheim Calw remained steady at €15 million, while reserves were built up at an appropriate level.
The balance sheet total increased by 3.6% to €17.3 billion, and the operating result before valuation was €137.4 million, excluding special factors. Sparkasse Pforzheim Calw remains the largest Sparkasse in Baden-Württemberg, employing a total of 1,869 employees, an increase of 0.4% compared to the previous year.
In an effort to attract more personnel, Sparkasse Pforzheim Calw launched its own campaign and increased its presence at job fairs. The closure of the Pforzheim Galeria Kaufhof location did not significantly impact the institution's ability to attract staff.
The bank also reported positive results in promotional loans. To capitalise on this success, Sparkasse Pforzheim Calw plans to continue this trend with a comprehensive range of products. In addition, the bank introduced a new second-hand gold purchase option in the second half of 2023, allowing customers to benefit from the 10% increase in the gold price over the year.
With these mixed results, Sparkasse Pforzheim Calw is poised to navigate the ever-changing financial landscape, offering innovative products and services to its customers while continuing to grow and adapt to the needs of the modern world.
Sparkasse Pforzheim Calw experienced growth in deposits, with customer deposits increasing by 21.6% to €12.4 billion in the securities business, an above-average number of new securities accounts were formed. The investment gold account, which allows customers to use gold as an investment, also saw a rise in delivery claims to 7.2 tons, showcasing an active engagement in investing and the finance sector. Despite a significant decrease in mortgage lending, the bank remains focused on business growth and adaptation, planning to continue the trend of promotional loans and introducing new services like the second-hand gold purchase option.
