The German banking system is unique in its nature. Germany has the largest economy in Europe. Its population is also the highest. Presently its financial system is working wonderfully and this has resulted in opening many diverse career opportunities.
In the recent years the banking system has witnessed many changes.Privatisation of banks is on the rise. Most of the state and public banks have been privatized. Commercial banks such as Deutsche, Commerz and Dresdner are competing with the global investment market. The small private banks are busy financing corporate activities.
Students who are proficient in German language can try their luck at the German investment banking sector
Some of the features of the German Banking system are
- The banking system is prevalent worldwide. No difference between the commercial and investment bank is there.
- Most of the banks are owned and controlled by the public. Many of the banks are co operatives. These banks have a key role in the development of local communities.
- Some of the banks have a strong political connection.
- Some of the large companies are totally dependent on these banks and have involved these banks in their boards
German has 330 private banks which credit about 30% of the banking business. These private banks control the assets managements and the securities. Commerz, Dresdner and Deutsche are the three major German banks.
Some of the main U.S. investment banks have grown up in Germany. All the cross border transactions are done by these banks. The salary in German banks is not as much as the London based investment banks.
Some reliable banks
- American Express
- Berliner Volksbank
- Money exchange offices
- Berliner Sparkasse
The Banking System of Germany is rapidly progressing.
