Employment in the German banking sector had been declining for decades. The last employment increase for the time being was recorded in 2000, with a rise of 0.4% compared with the previous year.
In 2023, however, there were signs of a remarkable trend reversal: Germany’s cooperative banks reported an increase in employment for the first time again. This trend was confirmed in the same year, albeit to a lesser extent, by the savings banks as well. As a result, job cuts in the German banking sector came to a halt overall in 2023.
In 2024, this development continued and gained momentum. Initial figures recently published by the ECB also paint a positive picture for 2025. According to these figures, employment at German banks rose by 1.3% compared with the previous year, marking the highest increase since the time series began in 2000. Overall, more than 520,000 people are now employed in the German banking sector.
A look beyond Germany’s borders also highlights the growth momentum of the German banking sector. Only nine euro area countries were able to increase banking employment at all in 2025. Overall, employment in the euro area banking sector declined by 0.7% compared with the previous year.
Among the major economies, Germany ranks among the leaders in employment growth and places fifth in the ranking of all euro area countries.
