The newcomer previously worked at Erste Group in Austria.
(Photo: Commerzbank, Alexandra Lechner)
Frankfurt Since April of last year, the interest rates for residential real estate loans at Commerzbank have risen by well over half a percentage point. In his first interview since taking office last fall, private customer boss Thomas Schaufler speaks of “slightly reduced” business growth in this area, but still sees “high demand”.
The Bundesbank has repeatedly warned against exaggerations in the real estate market and the financial supervisory authority is demanding that the banks put more money aside for private construction financing. Nevertheless, Schaufler sees no indications of a dangerous bubble: “In the luxury segment there are certainly some areas where the air is getting thinner. But I don’t see any major dangers in the mass market.”
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