The banking system in Germany includes approximately 1,800 credit institutions and consists of private commercial banks (such as Deutsche Bank, Commerzbank and foreign banks), cooperative banks, and public sector banks (6 Landesbank groups, 390 Savings banks or Sparkasse, and DekaBank). Landesbanks, the regional state-owned institutions, include BayernLB, Nord/LB, LBBW, HSH Nordbank, Landesbank Berlin, Helaba, and WestLB. The cooperative segment comprises 875 cooperative banks (Volksbanken, Raiffeisenbanken, Sparda Banks, Church banks, PSD Banks, ApoBank, and specialized cooperative companies) with 30 million customers, 10,500 branches, 180,000 employees, and the central institution DZ Bank Group. Below is a list of the largest and best banks in Germany.
Deutsche Bank, the largest bank in Germany, provides financial services to retail customers, companies, governments and institutional investors through three main divisions: Corporate & Investment Bank, Private & Commercial Bank, and Asset Management. It serves clients through 1,920 branches (including 1,325 locations in Germany) and employs about 86,500 people worldwide. In 2019, Deutsche Bank generated total revenue of €22.4 billion and net income (loss) was (€5.3 billion). Total assets, deposits, and shareholders’ equity amounted to €1.298 trillion, €572 billion and €56 billion, respectively. The company's market capitalization was approximately US$15 billion at May 5, 2020.
DZ Bank AG
Headquartered in Frankfurt am Main, DZ Bank is the second largest bank in Germany with total assets of €559 billion, profit before tax of €2.7 billion and 30,800 staff. It acts as a central bank for approximately 900 co-operative banks. The company's subsidiaries are DZ HYP (one of the leading real estate banks), R+V Versicherung (one of the Germany's leading insurance companies), VR Smart Finanz, DZ Privatbank, Schwäbisch Hall (the largest building society in the country), TeamBank, and Union Investment Group (asset manager).
KfW Group is a government-owned development financial institution established in 1948. It is the most important promotional bank in Germany and one of the biggest promotional banks in the world. The company employs about 6,700 people and is headquartered in Frankfurt with main offices in Berlin, Bonn and Cologne. It also has about 80 local and representative offices abroad. KfW has no retail branches. KfW Group provided €77 billion of promotional funds in 2019.
Commerzbank AG is the fourth largest bank in Germany based on total assets. With 49,400 employees, it serves about 19 million private, small business and corporate customers through about 1,000 domestic locations as well as through international branches and offices in New York City, Madrid, London, Zurich, Paris, Amsterdam, Singapore, Bratislava, Beijing, Brno, Brussels, Vienna, Dubai, Milan, Hong Kong, Barcelona, Luxembourg, Prague, Shanghai and Tokyo, among others. In 2019, Commerzbank recorded total revenues of €10.4 billion and net income of €662 million. As of May 11, 2020, it had a market capitalization of €4.1 billion. Martin Zielke is CEO of Commerzbank.
HypoVereinsbank (or HVB Group), headquartered in Munich, is the fifth largest credit institution in Germany with about 12,200 employees and 348 local branches. It provides a full array of products and services to personal and corporate customers, public-sector and institutional clients as well as international companies. HypoVereinsbank operates as a subsidiary of UniCredit Group, the largest Italian bank.
Landesbank Baden-Wurttemberg (LBBW) is the biggest Landesbank in Germany with more than 10,000 staff and 160 branches across the country. It is a commercial bank serving companies, savings banks, private individuals and institutional clients. LBBW acts as a central bank for the savings banks in Baden-Württemberg, Rhineland-Palatinate und Saxony. It was founded in 1999 and is headquartered in Stuttgart.
Bayerische Landesbank (BayernLB) is a Bavarian bank operating in the following business segments: corporates and mittelstand, real estate, savings, and financial markets. It is the seventh largest bank in Germany with total assets of EUR 225 billion, total deposits of EUR 151 billion and customer loans of EUR 145 billion as of December 31, 2019. DKB (Das kann Bank), Germany's second-largest online bank, is the retail arm of the BayernLB Group.
Landesbank Hessen-Thüringen (Helaba) is one of leading banks in Germany with about 5,800 employees. It provides a comprehensive range of financial products and services to savings banks, real estate and corporate customers, institutional clients, public authorities, private customers and credit institutions. As of December 31, 2019, it reported €130 billion in total loans and €207 billion in total assets. Herbert Hans Grüntker is chief executive officer of Helaba.
NRW.BANK is the ninth largest bank in Germany with consolidated assets of €149 billion and about 1,400 employees. NRW is a development bank wholly owned by German federal state North Rhine-Westphalia. The activities are focused on providing social housing promotion, venture capital, Infrastructure initiatives and loans to small and midsize enterprises. The Bank was awarded a long-term credit rating an AAA from Fitch, Aa1 from Moody's and AA from Standard & Poor's.
Norddeutsche Landesbank (Nord/LB), based in Hanover, is the 10th largest bank in Germany. It acts as a central bank for savings banks in Lower Saxony, Saxony-Anhalt and Mecklenburg-Western Pomerania. Nord/LB has more than 100 branches in Braunschweig country as well international offices in London, New York, Shanghai and Singapore. As of December 31, 2019, the company reported €139.6 billion in total assets.
Top 10 Banks in Germany by total assets
Here is a list of the top banks in Germany ranked by total assets.
|Rank||Bank||EUR bn (December 31, 2019)|
|1||Deutsche Bank AG||1,297.67|
|2||DZ Bank Group||559.379|
|5||HypoVereinsbank (HVB Group)||303.598|
|10||Norddeutsche Landesbank (Nord/LB)||139.619|