German Banking Profits 2021 Almost Tripled
German Banks With Highest Profit Increase since 2011
Deutsche Bundesbank just reported German Banking Profits of €17.3bn for 2021 almost tripling YoY. This is an increase of €11.5bn and the largest observed since 2011. It also confirms a trend reported by the ECB already a while ago, which had German banking profits in 2021 almost doubling.
Bundesbank reported the 3rd annual loss for big commercial banks in a row, while cooperative and regional banks posted new record highs. The latter benefited from Brexit-related asset transfers for foreign banks.
The largest profit driver was a drop in risk charges, which were not needed during COVID19.
For differences between Bundesbank and ECB data please continue reading HERE.