Word: landesbanken
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...German banking sector has long been ripe for consolidation. Germany has three banking industries - commercial banks, public Landesbanken, and cooperative savings banks. All but the commercial banks are controlled by public authorities. The five biggest commercial banks control just 11% of savings deposits, while the public savings banks control 51% and the cooperative banks...
...Making A Withdrawal The European Commission ordered Germany to recover more than 33 billion in illegal state aid granted to seven regional public banks during the 1990s, ending a decade-long investigation into anticompetitive subsidies granted to the Landesbanken...
...customers to borrow money. Easier said than done. Any German bank that makes borrowing more expensive risks being undercut by a slew of competitors. Indeed, the listed banks - which have less than 20% market share in Germany - compete not only with one another but with Germany's Sparkassen and Landesbanken, regional savings and development banks that are underwritten by the government - a fact that has brought Germany into conflict with other E.U. nations that object to these state subsidies. (In the past, German authorities have been reluctant to facilitate listed banks taking over these public sector banks, delaying what many...
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