Allemagne
The following data have been gathered by Capgemini and are part of the World Retail Banking Report published annually in March.
Macro economic indicators (2006)
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GDP at current prices and PPP
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€ 2,386 billion
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Inhabitants
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82,3 million
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GDP per head
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€ 29,990
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Financial services represent
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5.0%
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Economic growth rate
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2.3%
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Consumer confidence indicator
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108.7
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Unemployment rate
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10.80%
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Banking staff (2005)
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693,050
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Number of branches, incl Post offices
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42,632
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Number of inhabitants per branches
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1,931
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Number of ATMs (2005)
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53,361
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Households savings ratio
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11.75%
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Inflation rate
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1.70%
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Interest rate, consumer credit
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6.71%
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Interest rate, residential mortgage
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4.10%-4.70%
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Interest rate on long term bonds
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-
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Retail banking environment
• Under the “Gesetz über das Kreditwesen” only “Kreditinstitute” are allowed to do retail banking
• Three pillared-banking system: Private banks, savings banks and mutual banks. Postbank was privatized in 1995
• Phasing out of Guarantee Obligations (Guarantee Obligation“) to savings banks by 2005. The complementary Maintenance Obligation („Anstaltslast“) will be adapted to market principles
• Prevalence of universal banking model
Type and size of players
• Savings banks, mutual banks and 5 private banks share mostly the retail banking market.
Net Income activity in million € and Cost/Income Ratio total
• Limited engagement by foreign banks: Of top 100 banks by assets only 8 under foreign ownership (HVB/UniCredit, ING-DIBA, SEB, SEB Hypo, HSBC Trinkaus, Citibank Privatkunden, CC-Bank, Dexia Hypothekenbank)
Market share in terms of number of branches by type of banking group
Products
• 81% of total retail banking deposits and 76% of credits are shared between these 7 banks resp. banking groups
• The market for consumer credits is shared between local savings banks, mutual banks and specialists. Large private banks only have a small market share
Trends
Regulatory changes
• Final withholding tax (Abgeltungssteuer) will be introduced in January 2009. Banks have already recognized the potential of generating business and started to develop products which benefit or will not be harmed by this tax. Furthermore, banks have started information and marketing campaigns and already try to sell these products
Competitive environment
• Consolidation through M&A activities in the sector of „Landesbanken“ has continued and is expected to continue. In 2007, Landesbank Berlin was acquired by German savings banks and the German Savings Banks' and Giro Association and SachsenLB was acquired by LBBW. Potential merger/acquisition of LBBW and WestLB is still heavily discussed in public.
• High competition for generating new retail clients. Many banks offer new current account models without any fees and even including additional free service like bonus payments or credit cards free of charge
• Deutsche Bank increased activities in Retail Banking mainly driven by the acquisition of Berliner Bank (formerly member of savings banks sector) and the acquisition of norisbank. Rainer Neske, responsible for Private & Business Clients on Deutsche Bank's Group Executive Committee, stated: "After the acquisition of Berliner Bank, the purchase of norisbank is another important step in the growth strategy for our business with private clients in Germany. Consumer finance is one of our areas of growth in which we want to accelerate the pace of expansion.“ This can be seen as a clear commitment to the Retail Banking business by a player which tried to separate this segment a couple of years ago
• Especially in the high competitive market of consumer finance new players entered the market or tried to expand their business significantly. This trend is expected to continue; e.g. Fortis – mainly active in Commercial Banking in the past – has opened 72 so called “Credit4me-Shops” and is planning to increase the number of shops up to 230 by end of 2008
• Direct banks like ING which were mainly active in sight deposits in the past previously expanded their product portfolio and additionally offer mortgages, consumer finance, investment products and current accounts now
Business model
• Cooperation of retailers and banks: Big German fashion retailer C&A founded its own bank in the beginning of 2007 and started offering consumer credits (2,500 - 75,000 Euro) in its stores and online. In addition, C&A offers motor insurance contracts in collaboration with DA Direkt, a member of Zurich Group. Another example of such a collaboration is Tchibo (big German coffee bar and shop chain) which offers consumer credits of RBS, current and savings accounts of Deutsche Postbank, sight deposits of comdirect and insurance products of Asstel. Tchibo does not sell these products in its shops directly (you can only sign contracts or get information brochures without consulting), only online or by phone
• New branch formats have been introduced: Deutsche Bank is using parts of its innovative branch in Berlin “Q110” (opened 2 years ago) in several other branches now as the concept seems to be promising. Deutsche Postbank acquired 850 branches of Deutsche Post and recently announced the “branch in change project” to redesign the format towards a more sales oriented branch
• Structured products which were previously exclusively sold to corporate or private banking customers are now also offered to retail customers. Especially the market for Retail Certificates is increasing
