Significance of the Private Banking Sector in Germany

Within the framework of a recent report on behalf of the Association of German Banks, researchers from the Centre for European Economic Research (ZEW) in Mannheim, the European School of Management and Technology in Berlin and the Frankfurt School of Finance & Management have analysed the significance of private banks for the German economy.

The report, which was published today, indicates that private banks are the key partners of the German export industry, with the customers of private banks accounting for 88 per cent of foreign trade. “Private banks are also of great importance when it comes to so-called hidden champions,” explains ZEW economist Frank Brückbauer. “Over 60 per cent of German market leaders in global product niches have been clients of private banks in the past few years.”