
The munchner sparkasse is the largest municipal financial institution in germany to date to offer a 28 percent stake in the company.000 premium savings contracts.
The fifth largest savings bank in germany justifies this with the costs due to the zero interest rate policy of the european central bank (ECB). In addition, munich’s savings bank bosses reserve the right to terminate old contracts as of 1 january 2009. October of new customers with credit balances of more than 100.000 euro on checking or cash account penalty interest. The purpose of this announcement: the savings bank wants to prevent its deposits from growing too much. This was first reported by munich newspapers.