The incontrovertible fact that Munich is thanking Berlin is an distinctive case in politics. It was completely different at Bayerische Landesbank (BayernLB): CEO Stephan Winkelmeier despatched a “big thank you to Berlin” on Thursday. This is the place the direct banking unit DKB is predicated, which achieved a report revenue of 1.176 billion euros final 12 months, exceeding the earlier 12 months’s determine by 5 p.c. The subsidiary has been the supply of revenue within the Münchner Landesbank group for years.
In the 2025 monetary 12 months, 85 p.c of the revenue got here from DKB, which now has nearly six million clients. “A BayernLB without DKB doesn’t even exist in my mind. It is an integral part of the group,” replied Winkelmeier when requested what BayernLB can be with out DKB. Many questions on the annual press convention on Thursday revolved across the direct financial institution, which has set itself an formidable program till 2030.
36 p.c extra revenue and 40 p.c extra deposits
Earnings earlier than taxes are anticipated to rise to round 1.6 billion euros, which might be 36 p.c greater than in 2025. “We are technologically, organizationally and culturally positioned in such a way that we can achieve this goal on our own,” mentioned DKB CEO Sven Deglow confidently. The fee outcome, which was 201 million euros in 2025, is predicted to greater than double. The DKB desires to extend buyer deposits by 40 p.c to 137 billion euros. The direct financial institution is aiming for progress significantly within the securities enterprise, which Deglow sees as a second anchor product alongside the present account. Artificial intelligence just isn’t a flagship undertaking for DKB, however relatively an integral a part of banking operations.
Concerned in regards to the location
“Our annual results reflect the robustness of our business model and the strength of our subsidiary DKB. Despite the fall in interest rates, we achieved solid earnings overall,” mentioned BayernLB boss Winkelmeier, taking inventory of 2025. The outlook is characterised by warning in view of the numerous geopolitical dangers and financial challenges. The board expects earnings within the vary of 1.1 to 1.3 billion euros in 2026. The board had forecast 1.0 to 1.3 billion euros for 2025, barely exceeding the higher finish of the vary. Winkelmeier is hoping for the same growth this 12 months.
He assesses the financial state of affairs in Germany pessimistically. He misses a transparent dedication to the economic location and the braveness to make selections in politics. The funding offensive with the particular fund of 500 billion euros can be a catastrophe if it isn’t used for funding functions however for consumption functions. Winkelmeier agreed with the criticism from financial analysis institutes that investments had been being shifted from the traditional price range to the particular fund.
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