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Germany

Basics
Banks
Dodgy Deals
Companies
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Banking landscape

Germany is the most populous nation in the European Union and its largest economy. Throughout the years of the banking crisis it has remained relatively economically stable, and it has frequently played the role of ‘banker' to other European nations which have found  themselves in more trouble.

Germany's banking system is organised into three separate "pillars": private banks, co-operative banks and public banks. This diversity has made it comparatively stable, with the 422 savings banks and 1,116 co-operative banks in particular coming through the financial crisis relatively unscathed (although the private banking sector has not been so fortunate).

1. Private banks

Private banks account for around one-tenth of all credit institutions in Germany and around one-third of the total business volume (OECD, 2010).

Deutsche Bank and Commerzbank are the largest of the private banks. Deutsche Bank was the world's largest bank by asset value in 2012, and has remained one of the most stable of the universal banks (banks involved in both investment banking and commercial banking).

Other German private banks have suffered problems, including Commerzbank, which was bailed out in 2009 with €18.2 billion from the German taxpayer in exchange for a 17% government stake; Hypo Real Estate, German's second largest commercial  property lender, which was completely nationalised in 2008; and IKB Deutsche Industriebank, which was bailed out in 2007 due to losses in the subprime mortgage market (Economist, 2012).

2. Public banks

Public banks account for around a third of all business volumes, and include savings banks (sparkassen), which are generally owned by the state government, and the Landesbanken; regionally-owned wholesale banks which are usually jointly owned by the savings banks and the state governments. The German development bank KfW also belongs in this category, together with its project- and export-finance subsidiary KFW Ipex Bank.

Savings banks are obliged to serve the public good (e.g. they are obliged to open bank accounts for every applicant). They are limited geographically to particular regions, but together form part of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe), and share one nationally-recognised brand. Together they serve some 50 million customers. DekaBank is the central asset manager for the Sparkassen-Finanzgruppe. The German Savings Banks Finance Group

The Landesbanken were traditionally wholesale banks for the savings banks, and serve as the main bank of the Land (or state) in which they are located in. However the Landesbanken have over time began to operate in similar ways to private commercial banks, and many have suffered in the financial crisis after over-reaching financially and indulging in risky structured credit products. For example, Westdeutsche Landesbank (WestLB) ceased operations in June 2012 at a cost to the state of €21 billion, while  Bayerische Landesbank is struggling to pay off €5 billion of state aid (Economist, 2012).

3. Co-operative Banks

Credit co-operative banks comprise the largest number of independent institutions among the banking groups, accounting for around one-tenth of overall business volume. They are owned by their members, who receive a profit-dependent dividend, and their function is to support the business of their member-owners. They come together under the umbrella of the BVR, the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (Federal Association of German 'Volksbanken und Raiffeisenbanken' Co-operative Banks). Co-operative banks in Germany have around 30 million customers and over 17 million members (BVR, 2012).

Bank regulation

Banking in Germany is regulated by the Federal Financial Supervisory Authority (Bundesanstalt für inanzdienstleistungsaufsicht), or BaFin. BaFin is the single supervisor for banks, financial services providers, insurance undertakings and securities trading. It is an independent federal institution under the supervision of the Federal Ministry of Finance, and works in co-operation with the German central bank, the Deutsche Bundesbank.

Banking sector reform

In May 2013 Germany introduced a number of new laws regulating the financial sector, which was described by the government as "a new constitution for banks" (DW, 2013a). The new rules will compel banks to split their investment banking activities from commercial banking, provided the assets associated with investment banking exceed 100 billion euros or 20 percent of the balance sheet. This is likely to apply only to Deutsche Bank, Commerzbank and the Landesbank LBBW. They also include limits to bankers' bonuses and potential five-year jail terms for senior bankers that break the rules (DW, 2013b).

Independent sustainability and reform initiatives

Independent initiatives for a sustainable banking sector in Germany include the following:

Germany

Population: 81.7 million

GDP: 3.57 trillion USD (2011)


working partners
Allianz
Allianz is a German multinational financial services company headquartered in Munich. It is among the top insurance providers and asset managers in the world. Its investment…
BayernLB
The Bayerische Landesbank is a German publicly regulated bank, founded in 1972. It is one of the eight Landesbanken. As a commercial bank, BayernLB offers private and commercial…
Commerzbank
Commerzbank AG is Germany's second largest bank, headquartered in Frankfurt am Main. Next to a large presence in the German banking market, Commerzbank has numerous branch…
Deutsche Bank
Deutsche Bank was founded in 1870 and is a leading global investment bank. It has operations throughout the world and has a strong presence in Germany and Europe. The bank´s…
DZ Bank
DZ Bank (Deutsche Zentral-Genossenschaftbank) is the fourth largest bank in Germany by asset size, and acts as the central banking institution for more than 900 cooperative…
Ethikbank
The Ethikbank, established in 2002, is a German direct bank with a focus on the social, ethical and ecological aspects of society. Ethikbank's core business is guided by…
GLS Bank
GLS Bank (Gemeinschaftsbank für Leihen und Schenken) was the first ethical bank in Germany. The bank has it's focus on cultural, social and environmental projects.
Helaba
Helaba is the short name for Landesbank Hessen-Thüringen. It is a German commercial bank in and was founded in 1953. Helaba functions as central bank for the savings…
HSH Nordbank
HSH Nordbank is a commercial bank in northern Europe. It is active in corporate and private banking. The bank was created as a result of a merger between Hamburgische…
KfW
The KfW is a German government-owned development bank, based in Frankfurt. Its name originally comes from Kreditanstalt für Wiederaufbau, meaning Reconstruction Credit…
KfW IPEX-Bank
KFW IPEX-Bank is a subsidiary of the KfW banking group, and it is responsible for international project- and export finance. The bank competes directly with commercial banks,…
LBBW
Landesbank Baden-Württemberg (LBBW) is a parent company of three commercial banks and the Landesbank for some Federal States of Germany. It was fouded in 1999. …
Munchener Ruck
Münchener Rückversicherungs-Gesellschaft is one of the world’s leading reinsurance companies. The company was founded in 1880 in Munich, Germany. …
NORD/LB
NORD/LB (Norddeutsche Landesbank) is a universal bank at the heart of northern Germany and is clearly focused on its core business with special attention paid to the region.…
UniCredit
The UniCredit Group is the result of the merger of nine of Italy's largest banks and the subsequent combination with the German HVB Group and the Italian Capitalia Group.…

Germany

Population: 81.7 million

GDP: 3.57 trillion USD (2011)


working partners
Dodgy Deals abroad financed by banks from Germany
Mochovce nuclear power plant (units 3 & 4)
Slovakia
co financed by BayernLB, HypoVereinsbank, WestLB AG
The building of Slovakia's Mochovce 3 and 4 nuclear reactors is the longest running nuclear construction project anywhere in Europe. The reactors were designed by the Soviet…
Great Barrier Reef Coal & Gas Exports
Australia
co financed by Commerzbank AG, Deutsche Bank, KfW IPEX-Bank, WestLB AG
Australia is on the verge of an unprecedented coal boom. The epicentre of this expansion is the yet-to-be-developed Galilee Basin in Central Queensland. Galilee is the proposed…
Medupi coal-fired power plant
South Africa
co financed by BHF, Commerzbank AG, HypoVereinsbank, KfW IPEX-Bank
The Medupi Power Station is a coal-fired power plant currently under construction in Lephalale, South Africa. The project comprises six 800 megawatt units to provide a total…
Mountain top removal coal mining
United States
co financed by Commerzbank AG, Deutsche Bank
Mountain top removal (MTR) mining is a form of strip mining in which coal companies use explosives to blast as much as 800 to 1,000 feet off the tops of mountains order to…
Bauxite mine Niyamgiri Hills
India
co financed by Deutsche Bank, WestLB AG
On October 5th, 2004 an official agreement was signed between the Orissa Mining Corporation (OMC) and Sterlite Industries, a subsidiary of Vedanta Resources plc, for the…
China Tuna Industry Group IPO
China
co financed by Deutsche Bank
China Tuna Industry Group Holdings Ltd (CTI), the holding company of Dalian Ocean Fishing Co. Ltd., applied for an initial public offering (IPO) of its shares on the Hong…
Golden Youth or Gemilang Makmur Subur Plantation
Indonesia
co financed by Deutsche Bank
Bumitama's Golden Youth plantation in West Kalimantan, has 18,098 ha. According to Global Forest Watch only 3,717 ha are suitable for Palm Oil Plantations. Please see Bumitama's…
Guaigui dam
Dominican Republic
co financed by Deutsche Bank
The Guaigui dam project, located in La Vega province in the Dominican Republic, has been in the works since 2001, although its environmental impact study was presented in…
Kaltim Prima Coal mine
Indonesia
co financed by Deutsche Bank
PT Kaltim Prima Coal (KPC), located in the province of East Kalimantan, is the biggest coal mine in Indonesia. The KPC project produces around 50 million tonnes a year, making…
Kusile coal power plant
South Africa
co financed by Deutsche Bank, Euler Hermes Kreditversicherungs-AG (Hermes), KfW IPEX-Bank
The Kusile coal fired power plant project is located in the province of Mpumalanga, in South Africa, initiated by Eskom, the state electricity company. With 4800 megawatt,…
Ladang Sawit Mas Plantation
Indonesia
co financed by Deutsche Bank
Bumitama's Ladang Sawit Mas Concession in West Kalimantan has 7,597 ha. According to Global Forest Watch, the entire area is unsuitable for palm oil. Please see Bumitama's…
Maules Creek coal mine
Australia
co financed by Deutsche Bank
Whitehaven Coal's Maules Creek mine is a part thermal, part semi soft coking coal mine being developed in the Gunnedah Basin in Northern New South Wales. It would produce…
Offshore Detention Centres
Australia
co financed by Deutsche Bank
Australia's system of privatised, offshore detention centres (ODCs) for asylum seekers, on remote Pacific islands, is an ongoing human rights catastrophe. Spanish company…
Patents on chimpanzees and other animals
- international -
co financed by Deutsche Bank
The European Patent Office (EPO) has, since 2010, granted five patents on chimpanzees to the companies Bionomics, Intrexon and Altor BioScience. The animals have been genetically…
POSCO integrated steel project
India
co financed by Deutsche Bank
POSCO, a South Korean multinational corporation and the world's fourth largest steel producer, seeks to establish an integrated steel venture in India's eastern state of…
Punta Catalina-Hatillo coal power project
Dominican Republic
co financed by Deutsche Bank
Punta Catalina Power Central, also known as the Hatillo power station, is a 770 megawatt coal-fired power plant under construction in Punta Catalina-Hatillo, Azua in the…
SOCAR Aegean Refinery
Turkey
co financed by Deutsche Bank, KfW
The owner and operator of the Aegean Refinery is STAR Rafineri A.S. ("STAR") a joint stock company incorporated under the laws of Turkey. The joint venture is now 81.5% owned…
Tufanbeyli coal power plant
Turkey
co financed by Deutsche Bank
Enerjisa, the Turkish electricity producer owned by E.ON and Sabanci, is building a new coal power plant in Tufanbeyli, commonly known as Enerjisa 2.5. The lignite-fired…
TES 6 coal power plant
Slovenia
co financed by Helaba
Šoštanj in North Slovenia, 30 kilometres from the Austrian border, is the location of an existing lignite-fired power plant, Termoelektrarna Šoštanj…
Rosemont Copper Mine
United States
co financed by KfW IPEX-Bank
Vancouver-based speculative mining company, Augusta Resource Corporation, and its Arizona subsidiary, Rosemont Copper Company, plan to blast a mile-wide, half-mile deep…
Hazelwood coal fired-power station
Australia
co financed by Nord LB, Portigon Financial Services
Hazelwood power station and mine are located in Victoria's Latrobe Valley, 150 km east of Melbourne in Australia. The 1,542 megawatt brown coal-fired power station is supplied…
check dodgy deals on record

Germany

Population: 81.7 million

GDP: 3.57 trillion USD (2011)


working partners
Companies located in Germany
RWE
Germany
co financed by BayernLB, Commerzbank AG, Deutsche Bank, DZ Bank, KfW, Landesbank Baden-Württemberg, WestLB AG
RWE is Europe's second largest electricity generator and one of Europe's five leading gas and electricity companies. Founded in 1898, the company is active in the generation,…
Companies abroad financed by banks from Germany
Anglo American
United Kingdom
co financed by Allianz, Commerzbank AG, DekaBank, Deutsche Bank, DZ Bank
Anglo American is a British multinational mining company headquartered in London, United Kingdom. It is the world's largest producer of platinum, with around 40% of world…
Arch Coal
United States
co financed by Allianz, Deutsche Bank
Arch Coal is an American coal mining and processing company. The company mines, processes, and markets bituminous and sub-bituminous coal with low sulfur content in the United…
Glencore
Switzerland
co financed by Allianz, Commerzbank AG, Deutsche Bank, DZ Bank, Helaba, HSH Norbank, KfW, Landesbank Baden-Württemberg
Glencore plc (formerly Glencore Xstrata) is an Anglo-Swiss multinational commodity trading and mining company. The company was created through a merger of Glencore with Xstrata…
Lockheed Martin
United States
co financed by Allianz, Commerzbank AG, Deutsche Bank, WestLB AG
Lockheed Martin is one of the worlds largest arms-producing and military services companies. It is a global security company engaged in the research, design, development,…
Rio Tinto
Australia
co financed by Allianz, Commerzbank AG, DekaBank, Deutsche Bank, DZ Bank, Munich Reinsurance AG, WestLB AG
Rio Tinto is a mining and exploration company involved in each stage of metal and mineral production and processing. Rio Tinto is one of the largest publicly listed mining…
Royal Dutch Shell
Netherlands
co financed by Allianz, Deutsche Bank
Royal Dutch Shell plc is a public limited company registered in England and Wales and headquartered in The Hague, the Netherlands. The group operates in upstream, downstream…
EDF
France
co financed by BayernLB, Commerzbank AG, Deutsche Bank, Landesbank Baden-Württemberg, WestLB AG
Like its rival and fellow French multinational AREVA, Électricité de France (EDF) is one of the biggest players in the global energy game. In fact, with more…
Enel
Italy
co financed by BayernLB, Commerzbank AG, Deutsche Bank, DZ Bank, WestLB AG
Enel is Italy's largest power company and Europe's second largest according to its generating capacity. Its interests stretch beyond Italy to 40 countries on four continents.…
National Thermal Power Corporation (NTPC)
India
co financed by BayernLB, Deutsche Bank, DZ Bank, KfW IPEX-Bank, WestLB AG
National Thermal Power Corporation is the largest electricity producer in India. In 2014, its total installed capacity was of 42,964 MW (including 5,974 MW through Joint…
BHP Billiton
Australia
co financed by Commerzbank AG, Deutsche Bank, WestLB AG
BHP Billiton is the world's largest mining company. It occupies significant positions in major commodity businesses, including aluminium, energy coal and metallurgical coal,…
Eletrobras
Brazil
co financed by Commerzbank AG, WestLB AG
Founded in 1962, Eletrobras is an electric power holding company and the largest electricity generation and transmission company in Brazil. Through its subsidiaries it owns…
ENGIE
France
co financed by Commerzbank AG, Deutsche Bank
ENGIE (known as GDF SUEZ until April 2015) is the largest independent power producer in the world. In 2013 it operated 600 power plants worldwide. It had 113.7 GW of installed…
EPH
Czech Republic
co financed by Commerzbank AG, Siemens Financial Services, Volksbank, VTB Bank Germany
EPH (Energetický a Průmyslový Holding) is a Czech Republic based company currently investing mainly in the energy sector in Central Europe. The group's business…
ESKOM
South Africa
co financed by Commerzbank AG, Deutsche Bank, KfW
Eskom is the world's eleventh-largest power utility in terms of generating capacity and ranks ninth in terms of sales. In 2011 it had an installed generating capacity of…
Vattenfall
Sweden
co financed by Commerzbank AG, Deutsche Bank, Helaba, Landesbank Baden-Württemberg
Sweden's state-owned Vattenfall is Europe's sixth largest generator of electricity and largest producer of heat. In 2013, Vattenfall's total installed capacity across all…
Adani
India
co financed by Deutsche Bank
Adani is a large Indian resources, logistics and energy company with big expansion plans. It was founded by Indian billionaire Gautam Adani, in 1988. It has coal mining interests…
Alpha Natural Resources
United States
co financed by Deutsche Bank
Alpha Natural Resources is a large American producer of metallurgical and thermal coal. It also provides services relating to equipment repairs, road construction and logistics…
Areva
France
co financed by DekaBank, Deutsche Bank, DZ Bank, Landesbank Baden-Württemberg (2), WestLB AG
Created in 2001 and 90% owned by the French state, this multinational conglomerate boasts of interests in every aspect of nuclear power from uranium mining to nuclear fuel…
Bumi Resources
Indonesia
co financed by Deutsche Bank
Bumi Resources is currently the most significant coal producer in Indonesia with 2013 production at 80 million tonnes. It owns the Kaltim Prima Coal project in…
Bumitama
Indonesia
co financed by Deutsche Bank
Bumitama Agri Ltd. is one of the largest producers of Palm oil and Palm Kernel in Indonesia, where it controls over 200.000 hectares of palm oil plantations. It was established…
Coal India
India
co financed by Deutsche Bank
Coal India is the biggest coal producer worldwide, majority-owned by the government of India. It was created in the 1970's when India's coal mining industry was nationalised…
Coal of Africa
Australia
co financed by Deutsche Bank
Coal of Africa Limited (CoAL) is an Australian based mining company which operates mines in South Africa. In 2012 it produced around 3.4 million metric tons of coal.
DTEK
Ukraine
co financed by Deutsche Bank
DTEK is an Ukranian energy holding company. It is the largest private vertically integrated energy holding in Ukraine. It was established in 2005 and is an association of…
Elbit Systems
Israel
co financed by DekaBank, Deutsche Bank
Elbit Systems is a military equipment producer with a focus on defense electronics such as intelligence gathering systems.  It was established in 1967 and is headquartered…
Felda Global Ventures Holdings Bhd
Malaysia
co financed by Deutsche Bank
Felda Global Ventures Holdings Bhd is a global agricultural and agri-commodities company based in Malaysia, with operations across ten countries. It is mainly engaged in…
First Resources
Singapore
co financed by Deutsche Bank
First Resources is palm oil producer in the Asia-Pacific, established in 1992. It has more than 170,000 hectares of plantations and operates twelve palm oil mills in Indonesia.…
Golden Agri-Resources - GAR
Singapore
co financed by Deutsche Bank
Golden Agri-Resources Ltd (GAR) is the world's second largest palm oil plantation company with a total planted area of 470,600 hectares (including smallholders) as at 30…
HAGL
Viet Nam
co financed by Deutsche Bank
Hoang Anh Enterprise is a Vietnamese company, founded by Chairman Doan NGuyen Duc in 1993, was converted to a Joint Stock Company and renamed as HAGL JSC in 2006. On 22 Dec…
IOI Corporation
Malaysia
co financed by Deutsche Bank
IOI Corporation, founded in 1969, is a Malaysian conglomerate involved in the property and plantation business, including oil palm cultivation. The company's specialty fats…
Jindal Steel & Power
India
co financed by Deutsche Bank
Jindal Steel and Power Limited (JSPL) is one of India's major steel producers with a significant presence in sectors like mining, power generation and infrastructure. It…
OLAM
Singapore
co financed by Deutsche Bank
Olam International Limited is a global integrated supply chain manager, processor and trader of soft commodities like palm oil, cocoa, coffee, cashew, rice and cotton. It…
Shenhua Group
China
co financed by Deutsche Bank
Shenhua Group is a wholly state-owned company founded in 1995 directly under the central government. It is the largest coal producing company in the world. It takes coal…
Sime Darby
Malaysia
co financed by Allianz, Deutsche Bank, Landesbank Berlin
Sime Darby is a Malaysian multinational conglomerate that has operations in the plantations, property, healthcare, the energy and utilities sector. It was founded in 1910…
Singapore Technologies Engineering
Singapore
co financed by Deutsche Bank
Singapore Technologies Engineering Ltd (ST Engineering) is an integrated engineering group specialising in innovative solutions and services in the aerospace, electronics,…
Textron
United States
co financed by Deutsche Bank
Textron is a multi-industry company, consisting of numerous subsidiaries and operating units. One subsidiary is Textron Systems, which is active in the defence, homeland…
VRG
Viet Nam
co financed by Deutsche Bank
The Vietnam Rubber Group was established according to Decision No. 248/2006/QD-TTg on 30/10/2006 by the Prime Minister on the approval of the Pivotal Project with…
Wilmar Group
Singapore
co financed by Deutsche Bank
Wilmar International (WLIL.SI), founded in 1991 and headquartered in Singapore is one of the world's largest agribusinesses. It is involved in a wide range of businesses,…
check company profiles on record

Germany

Population: 81.7 million

GDP: 3.57 trillion USD (2011)


working partners
2016

Germany

Population: 81.7 million

GDP: 3.57 trillion USD (2011)


working partners
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