German Bank SPARKASSE to Target Ireland with New Mortgage Model

One of Greenman’s debt providers, Sparkasse, a major German community-oriented savings bank wants to create an alternative to the major commercial bank’s mortgage models in Ireland.

Sparkasse is one of the biggest banks in Germany, providing about half of all German mortgages and is known for its support of SMEs. Although each bank is independent and is part-owned by each local authority, the savings banks act as one unit under the brand Sparkasse.

Seamus Maye, of the Public Banking Forum of Ireland is calling for greater community banking in Ireland, similar to the public savings bank in Germany however Harald Felzen, project manager for Sparkasse says that they “need the commitment of the Irish government” in order to develop the sustainable banking model.