Core business of Stadtsparkasse München 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 Stadtsparkasse München 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 Stadtsparkasse München to avoid excessive risks which is reflected in high credit ratings of Stadtsparkasse München.
Becoming a client of Stadtsparkasse München can be done in a few steps:
Due to regulatory requirements Stadtsparkasse München performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Stadtsparkasse München will ask him/her to provide the following documents: passport or ID card; utility bill. For corporate clients Stadtsparkasse München will ask to provide corporate documentation as well as information about controlling persons. Stadtsparkasse München may request additional documentation or information depending on the case. Stadtsparkasse München performs client's identity verification via branch visit.
In 2019 total assets of Stadtsparkasse München were 20 024,89 mln EUR. Stadtsparkasse München is the 4th largest savings bank (sparkasse) in Germany (out of 379 savings banks (sparkassen)) having market share of 1.54% amongst the banks of this category. Stadtsparkasse München had 2 623 employees in 2019.
Stadtsparkasse München is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is A+ (high credit quality).
Stadtsparkasse München 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. Stadtsparkasse München is a member of Institutional Protection Scheme of the Savings Banks Finance Group and makes its contributions into it.
Stadtsparkasse München is located in München.