The Japan Times WORLD EYE REPORTS LOWER SAXONY
©THE JAPAN TIMES	Thursday, January 24, 2002

A partner you can count on

It is easy to get lost in Germany's banking industry. In the shadow of the towering banks of the Frankfurt city center, sometimes the little guys go unnoticed. But when enough of these little guys unite under one name, they collectively stand to be recognized for their essential role in the community and the economy of Germany.

Stadtsparkasse separates itself from the crowd because it brings together many of Germany's savings banks. The bank's logo is recognized by 97 percent of Germans (compared to 95 percent who know the Mercedes logo). It is an endearing mark that symbolizes the backbone of the German economy -- the middle class. "Not all banks take in every client," stated Dr. Harold Quensen, chairman of Stadtsparkasse Hanover. "There are poor people that the big banks won't give accounts to. We do it. Sometimes there are problems with these clients, but we do it so that they can have their social aid deposited. We do it for them and we do it for the city of Hanover. In this area, it's not just us but all savings banks in Germany. We do it for the public, while the bigger banks do it for profit." Being a traditional savings bank does not mean that Stadtsparkasse is not changing with the times. The Internet is changing banking and Stadtsparkasse knows it. "We have had centralized fund management all over Germany since July," said Quensen. "We believe that in five years, about 20 percent of our clients will use only the Internet for banking, 60 percent of them will use traditional branches and the Internet and just 20 percent of them will only use the branches."

Stadtsparkasse remains committed to banking with a social dimension under Harold Quensen.

Serving the city of Hanover has brought immense rewards to Stadtsparkasse. "We are number 10 among the 564 savings banks in Germany," Quensen commented. "We grown six percent per year over the past five years."

The Stadtsparkasse is also actively involved in the preserving the city's landmarks, including the Pastorelli -- the Hanover's underground shopping complex. The Stadtsparkasse Hanover bought the Pastorelli from its former Swedish owners to give it back to the people of Hanover.

It also helps fund the world-class Hanover Zoo's expansion projects and sponsors summer concerts in Hanover's grandest landmark, the baroque gardens of Herrenhausen.

"Our clients know that we are not a for-profit-only bank," he stated. "We have to make a profit, of course, but we are also here for Hanover and its citizens."

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