Core business of Sparkasse Aachen is providing high-quality retail banking products and services to local residents: private customers, enterprises and the public-sector institutions.
Tradionally for savings banks Sparkasse Aachen 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 Sparkasse Aachen to avoid excessive risks which is reflected in high credit ratings of Sparkasse Aachen.
In 2017 total assets of Sparkasse Aachen were 11 229,54 mln EUR. Sparkasse Aachen is the 13th largest savings bank (sparkasse) in Germany (out of 390 savings banks (sparkassen)) having market share of 0.94% amongst the banks of this category. Sparkasse Aachen had 1 911 employees in 2017.
Sparkasse Aachen is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is A+ (high credit quality).
Sparkasse Aachen participates in deposit guarantee scheme of Germany. This scheme covers accounts up to 100 000 EUR per bank per depositor.
Sparkasse Aachen is located in Aachen.
time deposit accounts
|natural persons, enterprises and public-sector organizations|
Sparkasse Aachen provides services in the area of retail banking. The range of products offered by Sparkasse Aachen includes current accounts, debit cards, credit cards, savings accounts, time deposit accounts, pension plans, consumer loans, car loans, mortgage loans. Sparkasse Aachen makes its solutions available to natural persons, enterprises and public-sector organizations.
|Total Assets (2017)|
|11 229.54 mln EUR (+3.91%)|
In 2017 total assets of Sparkasse Aachen were 11 229.54 mln EUR. Growth compared to the previous period (2016) was 3.91%. The evolution of the total assets of Sparkasse Aachen is shown at Chart 1 below.
Chart 1. Total Assets of Sparkasse Aachen.
Recent changes in total assets of Sparkasse Aachen and its main components are shown in Table 1.
|Loans to customers||7 782.6||7 939.1||+2.01%|
|Total Assets||10 806.6||11 229.5||+3.91%|
|Table 1. Recent changes in total assets of Sparkasse Aachen (mln EUR).|
Recent changes in total liabilities of Sparkasse Aachen and its main components are shown in Table 2.
|Customer deposits||7 891.7||8 206.1||+3.98%|
|Total Liabilities||10 806.6||11 229.5||+3.91%|
|Table 2. Recent changes in total liabilities of Sparkasse Aachen (mln EUR).|
|Number of Employees (2017)|
|1 911 (-2.80%)|
In 2017 there were 1 911 employees of Sparkasse Aachen. Decline compared to the previous period (2016) was -2.80%. The evolution of the number of employees of Sparkasse Aachen is shown at Chart 2 below.
Chart 2. Number of Employees of Sparkasse Aachen.
|A+ (high credit quality)||- (not rated)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Sparkasse Aachen is rated by Fitch.
Credit ratings assigned to Sparkasse Aachen as of May 2018 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Sparkasse Aachen it is set to A+ (high credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Sparkasse Aachen is set to F1+ (highest short-term credit quality).
|Long-Term Issuer Default Rating||A+|
|Short-Term Issuer Default Rating||F1+|
|Support Rating Floor||-|
Viability rating for Sparkasse Aachen is not set support rating is not assigned; support rating floor is not set.
|Yes (up to 100 000 EUR per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Germany are obliged to participate in German deposit guarantee scheme.
In the case of Sparkasse Aachen failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Covered Accounts||all deposit accounts (deposits on current accounts and savings accounts, overnight money or time deposits, registered savings bonds, and similar)|
|Covered Currencies||EU currencies|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||EUR|
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Sparkasse Aachen and its components are shown in the table below.
|Bank BIC Code||AACS|
|Country Code||DE (Germany)|
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
MFI ID of Sparkasse Aachen is shown in the table below.
In 2017 Sparkasse Aachen had 105 branches in Germany. Growth compared to the previous period (2016) was 5.00%. The evolution of the number of branches of Sparkasse Aachen is shown at Chart 5 below.
Chart 5. Branches of Sparkasse Aachen.