Consumers in eastern Germany once again invested more in residential property last year. The savings banks in the federal states of Saxony, Saxony-Anhalt, Mecklenburg-Western Pomerania and Brandenburg granted a total of around 6.2 billion euros in housing loans, according to the Eastern German Savings Banks Association. This was more than 21 percent more than in the previous year.
At the same time, the propensity to save declined in the four federal states. Interest-bearing savings deposits at the banks fell by 1.7 percent to 35.2 billion euros, according to the figures.
With regard to retirement provision, the association went on to say that the population needs to be more aware of additional pillars to the statutory pension. 65 percent of East Germans have never owned securities. The institutes want to raise awareness of the issue here.
The 43 savings banks in the four eastern German states operated 975 branches last year, five fewer than in the previous year. However, the number of employees rose by 1.2 percent to just under 18,200.
