Deutsche Bank does not want to push ahead with the abolition of negative interest rates for savers.
Germany's largest commercial bank does not expect to be able to waive negative interest rates in private customer business until October - both at Deutsche Bank and at Postbank.
A spokeswoman for the institute said this when asked.
Archibald Preuschat
Editor in Business
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As previously announced, Deutsche Bank first wants to wait for specific interest rate moves by the European Central Bank (ECB).
At its meeting last week, it announced that it would initially raise the key interest rate by 25 basis points in July.
If the rate on the deposit facility that banks pay to the ECB when they park money at the central bank is then reduced, this will be passed on to private customers “in the short term”.
Only when the deposit facility reaches zero percent in another ECB rate hike or slips into positive territory are the custody fees to be completely eliminated.
Whether Deutsche Bank wants to pay interest again when the deposit rate is positive is left open.
ING Germany, Germany's third-largest institute by customer, announced in May that it would effectively abolish negative interest rates as of July 1, by drastically increasing the allowances up to which no negative interest rates are calculated.