Brexit Boom: Almost €600bn of Assets Transferred to Germany in 2022 Alone
Foreign Banks‘ Assets in Germany Blow Through the Roof
- Foreign banks and subsidiaries have increased their balance sheet/assets by 33% (or €592bn) to a total of €2.367bn since the beginning of 2022
- This is more than 2.5x the growth rate of the German banking system of 13% YTD and represents 49% of all net asset growth over the period
- Brexit certainly is to blame for these asset transfers, but the extent is stunning nonetheless