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Financial Services Report Germany 4th 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 4th Quarter 2022
  • Subjects: Banking industry ; Bear markets ; Central banks ; Cost control ; Eurozone ; Financial services ; GDP ; Gross Domestic Product ; Inflation ; International finance ; Loans ; Nonperforming loans ; Pandemics ; Profitability ; Securities markets
  • Is Part Of: Financial Services. Germany, 2022
  • Description: At a wider structural level, there is a risk that in an environment of steadily rising interest rates, the unwinding across global financial markets of a decade of enormous central bank stimulus (amplified by the expansive liquidity support in the pandemic) could trigger a sharp asset-price correction and pockets of financial instability. 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 fell steadily in 2015-21) and, although net interest income is now on the rise amid central bank tightening, conditions will remain challenging over the next few years owing to the fallout from the war in Ukraine (to which Germany is highly exposed), a deepening economic downturn and jittery global financial markets. Banks suffered only modest loan losses in 2020-21, with enormous (and targeted) monetary and fiscal stimulus over this period helping to underpin incomes 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: AUTh Library subscriptions: ProQuest Central
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