Financial institutions, publicly-owned savings corporations, and member-owned finance organizations make up the three distinct categories of banks in Germany. There are about 1,800 institutions in Germany, including 1,100 member-owned credit unions, 400 publicly owned ones, and 200 investment corporations.
Owing to Europe’s robust GDP and low joblessness, which support banks in maintaining strong financial foundations, the nation’s monetary system is secure. Because of their extremely high-cost foundations, German banks are among the least lucrative in all of Europe.
Here is the list of the top 9 banks in Europe:
- BNP Paribas
Main office: Paris, France
This French global firm, which operates in 72 nations throughout five continents, is the biggest in Europe. It was also well-known for receiving the largest-ever penalty in 2014 as restitution for breaking U.S. regulations, yet it is still a giant in the market and one of the top 10 markets in the world. The National Stability Council regarded the organization as a bank with systemic importance.
Main Office: London, England
The Hongkong and Shanghai Banking Association formed this global commercial institution and economic assistance private equity firm in 1991 to serve as a new corporate holding company, giving it its name.
With almost 38 million customers, HSBC has 3,900 offices spread across 65 nations and territories in Europe, Asia, Oceania, Africa, North America, and South America.
- Banco Santander
Main office: Madrid, Spain
The Santander Group trades as Banco Santander, S.A., the biggest finance company in Spain. Although it is a global provider of professional services, it is primarily recognized for its operations, notably in Europe. It is regarded by the Financial Security Council as a strategically relevant bank, like many of the big names on this list.
Main office: London, England
In the City of London in 1690, a goldsmith finance company was founded. In 1736, James Barclay joined the company as a partner, giving the company its current illustrious name.
Barclays UK and Barclays Global are the company’s two operating departments, with the backing of Barclays Operational Services, a service provider. The Financial Services Commission views this bank as one with synergistic importance.
- Société Générale
Main office: Paris, France
By total assets, this international investment bank and financial solutions provider is France’s third-largest bank. It provides French Networking, Worldwide Payment Solutions, Worldwide Wealth Management, Investment Management, Business, and Capital Banking, Personal Banking, Asset Tracking, and Securities Services.
- Groupe BPCE
Main office: Paris, francs
This French banking group is regarded as a potentially significant bank by the Basel Committee On banking supervision since it has over 8,200 branches nationally operating under its different brand identities and serves close to 40 million customers.
It offers a wide range of deposit, lending, and bancassurance services to its sizable customer base, among other things.
- Deutsche Bank
Main office: Frankfurt, Germany
This international asset manager and economic services provider was established in 1870 and has a platform that covers 58 nations. A global bank has four main divisions: wealth management, corporate banking, private banking, and investment banking.
- Intesa Sanpaolo
Main office: Turin, Italy
With 14.6 million clients in Italy and 7.2 million clients in Eastern and Central Europe, the Middle East, and North Africa under franchises like CIB Financial institution, VB Banka, and Bank of Alexandria, this Italian global finance group was founded in 2007 via the merger of Banca Intesa and Sanpaolo IMI.
- Lloyds Banking Group
Main office: Edinburgh, Scotland
30 million customers and 65,000 workers make up the Lloyds Banking Group, which was created in 2009 when Lloyds TSB acquired HBOS. The company performs under several names, including Scottish Widows, Halifax, Bank of Scotland, and Lloyds Bank.
The history of the Group dates back more than 320 years to 1695 when the Scottish Legislature established the Bank of Scotland.