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Financial Services Report Germany 2nd Quarter 2022

Financial Services. Germany, 2022

2022 The Economist Intelligence Unit Ltd. All rights reserved. Reproduced with permission of the copyright owner. No further reproduction is permitted. ;EISSN: 2048-5670

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  • Title:
    Financial Services Report Germany 2nd Quarter 2022
  • Subjects: Asset acquisitions ; Banking industry ; Central banks ; Cost control ; Eurozone ; Financial services ; GDP ; Geopolitics ; Gross Domestic Product ; Interest rates ; International finance ; Loans ; Nonperforming loans ; Pandemics ; Profitability ; Profits
  • Is Part Of: Financial Services. Germany, 2022
  • Description: In the domestic market, large private-sector lenders such as Deutsche Bank and Commerzbank compete with state-owned regional lenders, savings banks and an extensive network of local co-operatives. According to the ECB, the country's five largest credit institutions accounted for 34% of total assets in Germany in 2020. The banking sector struggled to remain profitable during the relatively benign conditions of the late 2010s (net interest income has fallen steadily since 2015) and will face challenges amid the fallout from the pandemic and the war in Ukraine, with fairly subdued economic growth and elevated geopolitical risk likely over the forecast period. Banks suffered only moderate loan losses in 2020-21, with enormous (and targeted) monetary and fiscal stimulus over this period having helped to underpin the income levels and balance sheets of many firms and households. [...]a sharp reduction in loan-loss provisions in 2021, alongside firm trading income growth amid recovering global markets, bolstered profitability (quite considerably in some cases), despite a further fall in net interest income.
  • Publisher: New York: The Economist Intelligence Unit N.A., Incorporated
  • Language: English
  • Identifier: EISSN: 2048-5670
  • Source: ProQuest Central
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