Steering an institution, with all the tasks that entails, has become far more gruelling in recent years – not just because market conditions have become harsher, but also because the cake that can be divided up in the first place has shrunk in size and is continuing to do so. And when the going gets tough, there’s no option but to tweak the recipes.
2 The cake’s getting smaller The cake that can be divided up among Germany’s banks and savings banks has been shrinking for many years now. Just look at how earnings have been contracting for more than 15 years – the figure for 2015 is nearly 30% down on 1999. This malaise can be traced back to a number of factors.