Germany Banks

Banks around the globe operate on much the same concept but each country’s bank is slightly difference, which is the case with German Banks.  In Germany, banks are broken down into three categories to include public banks, private banks, and cooperative banks.  While private banks such as Dresdner Bank and Deutsche Bank and cooperative banks to include Raiffeisen Bank and VolksBank are important entities for this country, public banking is the most common option that people in this country use.

For instance public German banks are comprised of 446 savings banks, with seven of those being independent facilities, 12 regional insurance groups, and 10 real estate financing banks under a variety of brand names.  For savings, most people use German banks that are regional savings bank associated, which the banks and associated bank holders are statutory members.  However, some of the German banks set up as savings banks operate independent with voluntary members.

For German banks, the German Savings Bank Association, also referred to as DSGV has the responsibility of being a representative of banks on both national and international levels specific to overseeing and enforcing laws and the financial services industry as a whole.  In addition, this organization is responsible for coordinating, promoting, and balancing interests of the banking industry.

Now, when talking about German banks such as Landesbank, it is important to understand that Landesbank is a leading or head banking institution with local and regional locations.  In Germany, eight different savings banks under the Landesbank umbrella exist, some that include Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale, Landesbank Berlin, and Landesbank Saar.

Interestingly, the Landesbank group reported total EUR assets six years ago of 1.624 trillion while operating 655 offices and branches and 51,000 staff members.  These German banks function as universal banks and because of this, the banks have the ability to operate in all sectors of the financial services industry.  However, these German banks are also controlled by the country’s state government.

Whether looking for German banks that operate as public banks or those operating as private or cooperative banks, this country boasts a long list of bank names, most being highly reputable and designed to provide customers with innovative and modern products and services.  Some of the German banks that people prefer to conduct business with include the following, which are broken down by category but remember, this list contains only a few examples of each.

Central Banks

•    Deutsche Bundesbank – Frankfurt
•    European Central bank – Frankfurt

State-Owned Banks (also referred to as “communally-owned banks)

•    NRW Bank – Dusseldorf
•    KfW – Frankfurt

Large Commercial Banks

•    Commerzbank – Frankfurt
•    MM Warburg & Co – Hamburg
•    PSD Bank

Foreign Banks

•    Barclays Bank
•    National Bank of Greece – Frankfurt
•    Royal Bank of Scotland

Swiss/Overseas Banks

•    National Bank of Pakistan – Frankfurt
•    JP Morgan – Frankfurt
•    Merrill Lynch – Frankfurt

Small Private Banks

•    Bankhaus Lampe – Frankfurt
•    Berenberg Bank – Hamburg
•    Rothschild Investment Bank – Frankfurt

Special Operations Banks

•    Mercedes-Benz Bank – Stuttgart
•    Volkswagen Bank – Braunschweig
•    Invest Kreditbank – Frankfurt