When Gunter Dunkel leaves not one, but two high-profile posts in Germany’s banking sector later this year, it will be with mixed feelings.
The 63-year-old is planning to step aside as chief executive of NordLB, a regional bank backed by the state of Lower Saxony, later this year. Before that, he will leave his post as president of the Association of German Public Banks, also known as VÖB, which has 63 members, among them 13 of the 21 German banks overseen by the European Central Bank.
“On one hand, I have a good feeling because I gave it my all and a lot was achieved – more couldn’t have been done,” he told Handelsblatt. “On the other hand, times are more than challenging for credit institutions, and will undoubtedly stay that way in the future.”
During his tenure, the banking chief has seen much of the blame for his industry’s woes directed at the ECB, with its ultra-easy monetary policy. Those who fault the ECB alone, however, aren’t seeing the whole picture, Mr. Dunkel told Handelsblatt.