Frankfurt For many years, German banks have been waiting longingly for the turnaround in interest rates in Europe. The time has come this Thursday: The European Central Bank (ECB) wants to raise interest rates again for the first time in eleven years – and thus gives German financial institutions a strong tailwind.
According to a study by management consultants PwC, income from the overnight money business of German banks will more than triple to EUR 3.3 billion in the current year. In the years that followed, things went up even more: For 2023, PwC calculates earnings of EUR 14.8 billion, and for 2024 EUR 12.6 billion.
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