Two German banks have closed the accounts of regional branches of the far-right Alternative for Germany (AfD) party, sparking a fierce backlash from the party, which claims the decision is politically motivated.
This move is the latest in a series of measures by which German companies are distancing themselves from the AfD, writes Euronews.
The Verbund Volksbank OWL and Volksbank in Ostwestfalen have confirmed to local media that they have closed the account of the AfD regional branch in Minden-Lübbecke, but have refused to give details, citing bank secrecy. The AfD said that they need the account for the normal functioning of the party. “Private individuals, companies, political parties or factions: everyone needs a bank account. Regular payments, such as employee salaries, are made through this account,” their statement said.
The head of the AfD's regional branch, Sebastian Landwehr, condemned the decision, calling it an attack on, as he puts it, "the largest opposition party in Germany." "Since there is no wrongdoing on the part of the AfD's regional branch and its credibility has not changed, there is only one explanation: This is so-called 'debanking,' that is, politically motivated account closure," Landwehr declared.
This is not the first such case. In January of this year, Volksbank Düsseldorf-Neuss closed the account of the local AfD branch. In the summer of 2024, Berliner Volksbank closed the donations account of the party’s federal organization after a petition by the group “Grandmothers Against the Right,” and in September of last year, Deutsche Kreditbank canceled the accounts and cards of an elected AfD politician from Thuringia. Following this latest action, the party has called on all “democratically oriented Volksbank customers” to “switch to another bank.”
Pressure on the party is also growing outside the banking sector. Companies such as Deutsche Bahn, Siemens and Miele have campaigned against the AfD ahead of the federal election, claiming that the party's stances conflict with their values.
Complicating matters is the fact that the German Office for the Protection of the Constitution in May classified the AfD as a confirmed right-wing extremist organization. Such a classification gives legal weight to decisions by private companies to treat the party as a security risk.
German media reports that banks owned by their members can legally close AfD accounts. However, public savings banks (Sparkassen) are obliged to maintain accounts for political parties, which was confirmed by a 2018 ruling by the Federal Administrative Court, which refers to the constitutionally guaranteed privileges of parties. This means that the AfD remains open to accounts in public banks. /Telegraph/
