The low interest rates mean that adjustments are needed at both the strategic and the operational level. However, the compartmentalised structure of the savings bank sector has been, and continues to be, its strength. At the same time, the joint-liability scheme is an important element for the savings bank sector in bolstering the confidence of depositors.
Ultimately, each savings bank benefits from the trust placed in the savings bank “brand”. In order to maintain this system, the savings bank sector must adapt to the new European requirements. The challenge here is to bridge the gap between the centrality required by the directive and the sector’s decentralised structure.