The system of banking in Germany is a ‘three-pillar’ banking system made up of private commercial banks (this is the largest sector, and it makes up for about 40% of banking properties), the public savings banks, and co-operative banks. These banks exist alongside international banks and a growing number of new online banks.
There is only an insignificant number of large, centralized banks, with most of the banks in Germany being smaller county-based banks.
Below are the five biggest banks in Germany.
1. Deutsche Bank
Considering the total assets it has acquired, the Deutsche Bank is the biggest bank in Germany. Its headquarter is located in Frankfurt. It is also a private-owned bank. As of 2018, the Deutsche Bank had total acquired total assets of Euro. 2.08 trillion.
It was established in 1870. The Deutsche Bank has employed over 120,300 employees. Around 2016, it reported a loss of Euro 1.356 billion. It also has one of the top banking, and fiscal services in the world, with a widespread presence in Europe, the Americas, the Asia-Pacific region, and many developing markets.
2. DZ Bank Group
Considering the value of the bank’s total asset, the bank deserves to be in second place among the biggest banks in Germany. It has its headquarter in Frankfurt, Germany. In 2018, it had a total asset acquisition of Euro 506 billion. And in 2016, it merged with WGZ Bank.
That same year, the DZ Bank group made a before-tax profit of Euro 2.197 billion. The bank has a staff strength of about 32,211 employees.
3. KfW Bankgruppe
This is the third biggest bank in Germany considering its total assets. The total assets acquired by this bank in the year 2016 was Euro 472.3 billion. Its head-quarter is situated in Frankfurt, Germany.
It had an operating income (before promotional activity) of Euro 2210 million as of 2016. It was founded in the year 1948 and has since grown to become one of the biggest banks in Germany. It has around 7518 employees.
This is the fourth biggest bank in Germany considering its total assets. The total assets acquired by this bank as of 2018 were Euro 452.5 billion.
It was established in 1870. As of the last report in 2016, Its total revenue and operating income were Euro 13.71 billion and Euro 1.64 billion. Its headquarter is located in Frankfurt, Germany. It has employed over 51,200 employees since 2016.
5. HypoVereinsbank (UniCredit Bank AG)
Considering the total assets acquired, this bank is the fifth-biggest bank in Germany. The total assets acquired by this bank in 2018 was Euro299 billion. It has total equity of over Euro 19 billion.
It was established in 1998. The headquarter of HypoVereinsbank is located in Munich, Germany. It has a total number of 20,100 employees. HypoVereinsbank is one of the holdings of UniCredit AG.
Conclusively, of all the different 371 credit institutions (including banks), the 987 local cooperative banks, and the 421 local savings banks that operate in Germany, the above-listed five are the biggest of them all.