|Financial Market Development|
|5.0 (max 7.0), 12th out of 138 countries|
|5.3 (max 7.0), 53rd out of 138 countries|
According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Germany is scored 5.0 out of maximum 7.0 and ranked 12th out of 138 analysed economies, trustworthiness and confidence of financial market is scored 4.9 (29th place).
Chart 1. Financial Market Development in Germany. Source: WEF.
Soundness of banks is scored 5.3 bringing Germany into the 53rd place.
Chart 2. Soundness of Banks in Germany. Source: WEF.
|Maximum Protected Amount|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Germany are summarised in Table 1.
|Scheme Participants||all credit institutions operating in Germany, branches of non-EEA banks, branches of German banks abroad|
|Scheme Exemptions||branches of EEA-banks (covered by their home countries)|
|Covered Accounts||all deposit accounts (deposits on current accounts and savings accounts, overnight money or time deposits, registered savings bonds, and similar)|
|Covered Currencies||EU currencies|
|Maximum Protected Amount||100,000 EUR|
|Paid In Currency||EUR|
Table 1. Deposit guarantee scheme in Germany.
EEA stands for European Economic Area and consists of all EU member states plus Liechtenstein, Norway and Iceland.
EU currencies are all official currencies of EU Member States.
So, only the deposits made with German banks in the following currencies are covered by the deposit guarantee scheme of Germany
|RON||Romanian new leu|
It should be also noted that deposits made in non-EU currencies (for example, CHF, USD and JPY) are not covered by the German deposit guarantee scheme.
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
|Local Currency (Euro)|
Local currency (Euro) deposit ceiling for Germany is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).
|Average Deposit Rate (Oct 2018, EUR)|
|0.28 % (Sep 2018: 0.31 %)|
Chart 3. Deposit Rates in Germany. Source: ECB.
|Number of Banks|
|Consolidated Assets (2017)|
|6,864.07 bln EUR (-3.10%)|
|Recent Changes (2017)|
|new banks: 6, closed banks: 73|
Currently there are 1598 credit institutions operating in Germany.
In 2017 consolidated banking assets in Germany were 6,864.07 bln EUR. The consolidated banking assets' evolution is shown at Chart 4 below.
Chart 4. Consolidated banking assets in Germany.
Recent structural changes (2013 - 2017) of the banking sector of Germany are summarised in Table 2.
|Number of Opened Banks||5||8||5||4||6|
|Number of Closed Banks||27||40||39||75||73|
Table 2. Recent structural changes in the banking sector of Germany.
The list of the most recently opened banks in Germany is provided in Table 3.
|CAIXABANK S.A. Zweigniederlassung Deutschland (new)||December 2017|
|Adyen NV - German Branch (new)||October 2017|
|HOIST Kredit AB (publ), Niederlassung Deutschland (closed)||July 2017|
|National Westminster Bank Plc Niederlassung Deutschland (new)||July 2017|
|VZ Depotbank Deutschland AG (new)||June 2017|
|Kommunalkredit Austria AG Zweigstelle Deutschland (new)||January 2017|
|Hyundai Capital Bank Europe GmbH (new)||October 2016|
|N26 Bank GmbH (new)||July 2016|
|solarisBank AG (new)||April 2016|
|EIS Einlagensicherungsbank GmbH (new)||February 2016|
Table 3. The most recently opened banks in Germany.
All the credit institutions operating in Germany can be classified into several categories. Table 4 summarises the number of banks in each category.
|Category||Number of Banks|
|Branches of foreign banks||112|
|Private banks (Bankhäuser)||17|
|Private building and loan associations (Private Bausparkassen)||12|
|Public sector building and loan associations (Landesbausparkassen)||8|
|Savings banks (Sparkassen)||384|
There are 112 branches of foreign banks from 25 different countries in Germany. Table 5 shows 10 countries having the biggest number of branches in Germany.
|Country of Origin||Number of Branches|
|Iran, Islamic Republic of||3|