The financial crisis, extensive regulatory requirements and the impending Brexit confront the international and national banking sector with daunting challenges. Yet, uncertain as the environment may be, the German market still offers opportunities to international banks and investors keen on setting up a branch or subsidiary in Germany.
The updated 5th edition of the guide to the Banking Business in Germany is a mine of information for international decision-makers and industry observers as well as bankers from abroad, already located in Germany and their headquarters in their country of origin. In the current edition of the guide, which is written in English and runs to more than 400 pages, financial services experts from PwC and the Association of Foreign Banks in Germany elucidate the manifold amendments and specifics of the German regulatory framework. They also furnish an overview of ongoing developments in the German banking system as well as deposit guarantees, labour law and taxation.
Equally beneficial for English-speaking banking representatives is a glossary, explaining common abbreviations in German banking usage, such as “GroMiKV”, short for “Großkredit- und Millionenkreditverordnung” or “Large Exposure Regulation”. No less helpful is a comprehensive index for easy guidance through the new publication.
At the book presentation on 14 October, Dr Andreas Dombret, member of the Executive Board of the Deutsche Bundesbank, addressed a large gathering of members of the Foreign Banks Association on the impact of Brexit on banking and banking supervision. His remarks highlight the relevance of these and other issues for international business leaders, who regard Germany as an important financial location now and especially in the future.
The 5th edition of Banking Business in Germany can be purchased here.