Deka’s net sales climbed to almost 36 billion euros – a record level.
(Photo: dpa)
Frankfurt The fund service provider for the savings banks, Deka, sold more than a million securities savings plans last year. Investors – usually savings bank customers – closed a net total of almost 1.1 million new security savings plans, as Deka announced on Tuesday.
That is again significantly more than in 2020. At that time there were 776,000 new savings plans. In total, Deka now manages almost seven million contracts.
Deka boss Georg Stocker was pleased with the development: “Saving securities has arrived in the middle of society. This is the best inflation hedge for people’s savings.”
Sales of Deka products also increased overall. Compared to 2020, it rose by eleven percent to almost 36 billion euros. At 25 billion euros, the majority went to private customers, the rest to professional investors.
Top jobs of the day
Find the best jobs now and
be notified by email.
Private investors primarily opted for equity funds, with net sales amounting to 7.8 billion euros. Certificates with sales of 7.1 billion euros were still in demand.
Union Investment beats Deka
In view of the high sales and the positive market development, the fund and certificate provider earned significantly more in 2021 than in the previous year. The economic result reported by Deka tripled to EUR 848 million.
This is even higher than the profits of the large state banks, which also significantly increased their results last year. The largest state bank, LBBW in Stuttgart, brought in a pre-tax result of 817 million euros. She had earned more before the outbreak of the financial crisis.
BayernLB earned EUR 816 million before taxes. 45 percent of the profit came from its online subsidiary DKB. Frankfurt-based Helaba’s pre-tax profit was EUR 569 million.
Competitor Union Investment, owned by the Volks- und Raiffeisenbanken, beat Deka. He achieved a pre-tax profit of 1.2 billion euros.
More: Rising risk of stagflation? This allows investors to adjust their portfolio.