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The baking service sector in Germany comprises around 1800 banks. They touch across public sector banks, private commercial banks and cooperative banks. The private banks control 40% or thereabout of the total assets, hence making them the largest contributors. They are key players in Germany’s export economy.
These banks support three-quarters of the country’s foreign baking network. The success is due to the fact that private commercial banks not only compete with other banks within the other segments of the banking system but also among themselves. Other players are not badly off though. What are the country’s leading banks? In case you are wondering, here are top banks in Germany.
UniCredit AG.
UniCredit Bank is the 5th Influential financial services provider in matters asset control. The bank operates with its trade name HypoVereins bank starting its services in 1998. Head Offices are in Munich and employs over 12000 persons. UniCredit handles over €250 billion worth of assets. The pan-European commercial bank offers solutions in corporate and investment banking, commercial banking and wealth management.
Commerzbank AG.
Commerzbank is one of the oldest banks in Germany, opening its doors to customers in 1870. Area of operations is within, investment banking services, asset management, private banking and commercial financing. The bank boast of operating in over 50 countries and serves over 17 million customers. Over 40000 people earn their daily bread from Germany’s fourth-largest financial institution. Commerzbank handles more than €493.20 billion worth of assets.
KfW Group.
Renowned as KfW, KfW Bankgruppe started operations in 1948. Kreditanstalt fur Wiederaufbau, the origin of the phrase KfW, is a German state-owned bank and the third-largest banking service provider in the country. This institution operates as a development bank with services revolving around advisory services, financing economic activities in the developing world, financing local investments and social initiatives and offering financial aid to projects by the state and European corporations. Over 5000 persons work with KfW. In 2017 data reports the bank’s revenue at €76.5 billion with a total asset of €472.3 billion
DZ Bank Group.
The second-largest bank in Germany, DZ Bank Group, first opened doors to customers in 2001. This financial institution operates as a cooperative bank and is a central institution for over 900 cooperative banks in Germany. In 2017, banks net income was at €1.1 billion. DZ Bank handles more than €500 billion in assets and employs over 29000 breadwinners.
Deutsche Bank AG.
Opening its doors in 1870 the largest bank in Germany sums up our list. Deutsche Bank is one of the leading banking and financial services institutions in the globe. Having presences in the Americas, Europe, Asia-Pacific and many emerging markets Deutsche is a force to reckon. Its headquarters are in Frankfurt.
Services offered to include; investment banking – the bank’s core business, M&A, risk management, trading and organization of debt and equity. In the year 2018, data reports the revenue of this financial facility to be around €24.79 billion and total assets of over €1.40 trillion passing through the bank.
In conclusion, though Germany’s economy has been struggling since 2018, these five banks fight hard to ensure efficient and effective delivery of financial services to customers. We hope you have familiarized yourself with the cream of Germany’s banking sector.
