- Main metropolis highly attractive to banks and institutions
- Employment growth at finance-related institutions in Frankfurt
- New financial center initiative committed to strengthening competitiveness
Helaba Research & Advisory presents study on Frankfurt as a financial center
In recent years, Frankfurt has increasingly become an important location for international banks and finance-related institutions. “In the face of intense competition between locations, it is important for the Main metropolis to focus on its long-term success factors and further sharpen its profile,” states Dr. Gertrud Traud, Chief Economist at Helaba.
With its wide range of location qualities, the German financial center is highly attractive to banks and finance-related institutions. New ones have settled here time and again, so that Frankfurt is home to many of these key players. “Their personnel capacities have increased until the end of 2024, despite economic weakness and a shortage of skilled workers,” summarizes Ulrike Bischoff, author of the study.
There are currently around 330 banks in Frankfurt. Foreign institutions, many of which have been present for decades, are an integral part of the German financial center. In addition, the Main metropolis is home to a number of finance-related institutions and functions as the capital of European supervision. The supervisory institutions act as a job engine, both directly and indirectly.
Frankfurt should continuously expand its attractiveness for important financial center players. There are a number of levers that can be used to promote competitiveness in the global financial architecture. In particular, concerted political commitment and a consistent marketing strategy are essential in this regard. In addition, a wide range of measures can be used to improve the framework conditions of the local location.
The new financial center initiative, led by the Prime Minister of Hesse, is committed to strengthening the competitiveness and future of Frankfurt as a financial center. Numerous important financial center players are working together in a task force, including Helaba. Following the policy paper of February 2025, a detailed future strategy for the financial center is currently being drawn up, which is to be presented to the Financial Center Cabinet in the summer.