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Banking System in Germany

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Germany has a unique banking system, comprising of three main types of banks: Landesbanken (state banks), savings banks, and cooperative banks. Each type of bank has its own structure, organization, and history.

Landesbanken (State Banks)

History and Structure

Historically, Landesbanken were public-law institutions with a guaranteed role in providing financial services. Today, they have undergone restructuring, with some now operating as stock corporations (e.g., HSH Nordbank AG and West LB AG).

Supervision and Governance

Landesbanken are supervised by the Federal Financial Services Supervisory Authority (BaFin) and have a board of managing directors, elected and supervised by a supervisory board.

Savings Banks

History and Structure

Savings banks were traditionally guaranteed by the state or other institutions. Following an agreement with the EU Commission in 2001, these guarantees were abolished.

Current Status

However, savings banks remain part of the state’s financial system, and their cash funds operate in a joint liability scheme (Haftungsverbund) with Landesbanken and public-law building societies.

Cooperative Banks (Genossenschaftsbanken)

Structure and Business Model

Cooperative banks have a two-tier structure, with local Volksbanken and Raiffeisenbanken as the basis and DZ BANK AG and WGZ Bank AG as top institutions. Their business model is based on cooperation among members to achieve shared goals.

Legal Form

The legal form of most cooperative banks in Germany is a registered cooperative society (eingetragene Genossenschaft) pursuant to the German Cooperative Act.

This article provides an overview of the banking system in Germany, highlighting the structure and organization of Landesbanken, savings banks, and cooperative banks.