Sparkasse

The German banking system is structured in three different pillars, totally separated from each other. They typically differ in their legal form and the ownership.Private banks, represented by banks like Deutsche Bank or Commerzbank as listed companies, and Hauck & Aufhäuser or Bankhaus Lampe as less known private companies, are part of the first tier. The second tier is composed of co-operative banks like the numerous Volksbanken and Raiffeisenbanken. They are based on a member-structure where each member, independently from its capital share, has one vote. The third tier consists of public banks, which are a legally defined arm of the banking industry in Germany. They are further divided into two main groups.

The German Savings Banks Finance Group (Sparkassen-Finanzgruppe) is the most numerous sub-sector with 431 savings banks using the Sparkasse brand, 8 Landesbanken including the DekaBank using separate brands and 10 real estate financing banks using the LBS brand. The Deutscher Sparkassen- und Giroverband (German Savings Banks Association, DSGV) represents the interests of the Sparkassen-Finanzgruppe on a national and international level concerning law and the financial services industry. It also coordinates, promotes and harmonises the interests of Sparkassen.

Based on OECD studies, the German public banking system had a share of 40% of total banking assets in Germany. This shows the important and significant role of this group of banks in Germany.

Public banks in Germany are financial institutes, typically held directly or indirectly by the public sector, e.g. the federal government, the states, administrative districts or cities. Not all companies are fully publicly owned. They can also be defined as public by providing services out of a public interest.

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