Kuhn Group changes house bank
After more than 60 years, the Kuhn Group has unfortunately had to decide to change its house bank. Continue reading
A large part of the Kuhn Group’s banking activities will now be transferred from Sparkasse Radevormwald-Hückeswagen to Stadtsparkasse Remscheid, Volksbank Oberberg, Volksbank im Bergischen Land and Commerzbank AG.
For some time now, we have been observing the developments at Sparkasse Radevormwald-Hückeswagen with growing concern. With the change of many board members, it has been all about avoiding risk for years. The focus has been completely taken away from customer interests, and communication has suffered a lot for some time, both at board and at department level, or has no longer been present. For us as customers, new hurdles were created at every turn, inquiries were made and demands were addressed that could no longer be understood. We have not been given any understanding or even support from our decades-old house bank for more than a year.
We understand the difficult situation in view of a collapsed merger and the current integration with Kreissparkasse Köln, which Sparkasse Radevormwald-Hückeswagen is currently facing. However, we cannot comprehend the fact that the customer has completely faded into the background here.
The further prospects within Kreissparkasse Köln – a large bank with a balance sheet total of over EUR 23.8 billion (31.12.2021) – are also uncertain for us and questionable as a local, medium-sized company. We therefore had no other option but to make a change to our house bank.
In the form of Stadtsparkasse Remscheid, Volksbank Oberberg and Volksbank im Bergischen Land, we have found partners who have shown a pronounced orientation to SMEs from the very beginning and have a healthy financial structure. We are pleased that there are banks in our region that see themselves as partners to their customers and whose goal is to enter into long-term, trusting relationships.
The coming years will not get any easier, especially in the banking sector. As an energy-intensive company, we are the focus of numerous regulations and under special risk monitoring. However, as a highly sought-after supplier to our worldwide customers, we are able to boost our financial strength and make very important contributions to CO2 reduction in Germany and in the world as a technology leader.
We are therefore looking to the future with confidence and optimism and are pleased to have found the right financial partners to help us in this respect.