Core business of Frankfurter Sparkasse is providing high-quality retail banking products and services to local residents: private customers, small- and medium-sized enterprises and public-sector institutions.
Traditionally for savings banks Frankfurter Sparkasse is essentially focused on broad participation in developing citizens' prosperity and on increasing local economic strength rather than on maximising profits. This business focus help Frankfurter Sparkasse to avoid excessive risks which is reflected in high credit ratings of Frankfurter Sparkasse.
Frankfurter Sparkasse, one of the largest savings banks in Germany, is a modern, universal bank, providing all types of financial services for both private and corporate customers. Frankfurter Sparkasse offers direct banking via its subsidiary 1822direkt. Frankfurter Sparkasse belongs to Landesbank Hessen-Thüringen (Helaba).
Becoming a client of Frankfurter Sparkasse can be done in a few steps:
Due to regulatory requirements Frankfurter Sparkasse performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Frankfurter Sparkasse will ask him/her to provide the following documents: passport or ID card; utility bill. For corporate clients Frankfurter Sparkasse will ask to provide corporate documentation as well as information about controlling persons. Frankfurter Sparkasse may request additional documentation or information depending on the case. Frankfurter Sparkasse performs client's identity verification via branch visit.
In 2019 total assets of Frankfurter Sparkasse were 19 889,63 mln EUR. Frankfurter Sparkasse is the 5th largest savings bank (sparkasse) in Germany (out of 379 savings banks (sparkassen)) having market share of 1.53% amongst the banks of this category. Frankfurter Sparkasse had 1 673 employees in 2019.
Frankfurter Sparkasse is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is A+ (high credit quality).
Frankfurter Sparkasse participates in the deposit guarantee scheme of Germany. This deposit guarantee scheme applies to all deposit accounts made by individuals, companies and covers up to up to 100,000 EUR per bank per depositor. Frankfurter Sparkasse is a member of Institutional Protection Scheme of the Savings Banks Finance Group and makes its contributions into it.
Frankfurter Sparkasse is located in Frankfurt Am Main.