The Deutsche Apotheker- und Ärztebank should professionalize its supervisory board, demands the banking supervisory authority. So far, the body has included a number of doctors and pharmacists’ lobbyists.
(Photo: picture alliance / picture agency-o)
Frankfurt The Apotheker- und Ärztebank (Apobank) is under stricter surveillance by the financial supervisory authorities. The European Central Bank (ECB) is critical of the fact that the owners of Germany’s second-largest cooperative bank still fill most of the positions on the supervisory body with representatives of the pharmacist and doctor lobby – and hardly with bank experts and IT specialists, said several people familiar with the topic the Handelsblatt.
The lack of professionalism of the supervisory board is one of several reasons why the bank has to maintain an additional capital buffer of 2.5 percent on the instructions of the ECB banking supervision. The ECB declined to comment on this.
Apobank explained that this SREP surcharge of 2.5 percent was just above the average for all major banks. The ECB has found “that all European banks have to address structural deficiencies in business models and governance”. Problems with the migration of the core banking system also played a role in the surcharge for the Apobank.
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