Despite the difficult environment, the banker is confident about this year.
(Photo: PR)
Frankfurt Tradition and modernity go well together – at least if you believe Mario Mattera, head of the capital market at Metzler Bank, which was founded in 1674. Mattera wants to quickly expand the blockchain technology behind cryptocurrencies such as Bitcoin in his business area.
Last year, Metzler already acquired the first crypto bond issued by Dekabank. The bearer bonds of Deka, which belongs to Sparkassenlager, were issued via a blockchain-based securities platform.
A crypto security is a form of electronic security. In contrast to classic investments, no certificate in paper form is required for the issuance. Since the Electronic Securities Act came into force in June 2021, entry in an electronic register is sufficient.
Mattera sees the Electronic Securities Act as a strategic competitive advantage for Germany as a financial center because the government in Berlin introduced regulation faster than the EU. “We have to use this advantage,” Mattera demanded when presenting Metzler’s figures for the past year.
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The use of blockchain technology has two advantages for Mattera, on the one hand it is more efficient than traditional methods in his opinion, on the other hand it is more secure. Because the transactions are concluded in real time, the risks are significantly lower.
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The tradition of Germany’s oldest private bank was evident in the presentation of the annual results: “As always, the balance sheet profit is 2.3 million euros,” said Board Member Emmerich Müller. This result is used to distribute a dividend to the owner family that has remained unchanged for decades.
“The course of business in 2021 significantly exceeded our expectations,” summarized Müller. The economic recovery from the Corona low and highs on the stock markets ensured that the traditional company recorded “very pleasing growth rates” in all four business areas.
Metzler employs around 800 people and earns its money in capital market business, investment banking, private wealth management and asset management. Net commission income rose from EUR 187 million to EUR 193 million within a year, and net interest income was at the same level as the previous year at EUR 9 million.
Müller was satisfied with the development of new business in the first months of the current year. Despite the sharp price fluctuations on the markets and the growing fear of an economic crisis, he is confident that 2022 will also be a successful year for Metzler.
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