Interview with Dr. Christina Klee, Member of the Executive Board of Volksbank Thüringen Mitte

KLEE / Strategically, we are currently focusing on the effects of demographic change in all its facets, as well as the changing needs of customers and employees alike. Consequently, our key objectives are to expand into a high-performing omnichannel regional bank and to position ourselves as a sustainably attractive employer.

KLEE / Essentially, these are likely the same trends that are forcing business models across all industries to adapt. Key examples include personalization, urbanization, and security. These mega-trends are driven by a multitude of changing needs on the demand side, as well as new options on the supply side. Overall, the future competitive landscape for companies is becoming increasingly complex. Dealing with this is the real challenge, as it requires the ability to adapt at all levels of corporate management. In particular, making decisions in uncertain situations will be an ever-present challenge for management.

KLEE / A key success factor is the ability to identify opportunities early on and focus on leveraging one’s own strengths in this environment in a targeted manner. The megatrends mentioned above hold enormous potential for rapid, far-reaching change. Above all, however, they also present an opportunity for our own further development. A key prerequisite for business success is that we do not lose touch with our customers. When this connection is maintained, trust can be built and sustained – and we can grow alongside our customers. The most significant challenge here is to keep our business goals firmly in sight and not be distracted by the ever-increasing complexity.

KLEE / As a cooperative bank, supporting our members is always our most important driving force. In addition to reliably providing banking services to the people in our region, we also support them in areas beyond financial matters. Local engagement, presence, and participation are essential to our business model. This conviction has shaped our work for 165 years. The Supervisory Board plays a key role in our governance structure but does not interfere in the day-to-day management of the company. It serves as a sounding board for the Executive Board and acts as a supervisory body in the interests of our owners.

We believe that leadership should focus on the people who contribute to a company's success. This requires a wide range of skills that we are continuously working to develop within our leadership team.

KLEE / Investment decisions are guided by our strategic goals, which we have also quantified. The focus is on business success in our core business area: serving customers in our region.

Compliance with regulatory requirements is always a strict precondition in this regard. Even though this often results in a high workload, it usually does not conflict with our own standards in substance. As an example, I would like to cite the limits on loan sizes in the retail lending business. In this area, the regulatory requirements are, in some cases, significantly more far-reaching than our own risk appetite.