Executive Summary . 5
Table: Levels (EURbn) .. 5
Table: Levels (US$bn) ... 5
Table: Levels At February 2012 5
Table: Annual Growth Rate Projections 2012-2016 (%) ... 5
Table: Ranking Out Of 59 Countries Reviewed In 2011 6
Table: Projected Levels (EURbn), 2008-2016 ... 6
Table: Projected Levels (US$bn), 2008-2016 6
SWOT Analysis . 7
Germany Commercial Banking SWOT... 7
Germany Political SWOT .. 7
Germany Economic SWOT 8
Germany Business Environment SWOT . 8
Business Environment Outlook .. 9
Commercial Banking Business Environment Ratings 9
Table: Commercial Banking Business Environment Ratings . 9
Commercial Banking Business Environment Rating Methodology .. 10
Table: Developed States Commercial Banking Business Environment Ratings ... 11
Global Commercial Banking Outlook ... 12
Eurozone Banking Sector Outlook ... 18
LTRO 2: Diminishing Marginal Returns To Crisis Management . 18
Developed States Banking Sector Forecast Overview .. 22
Table: Banks' Bond Portfolios 2011 22
Table: Developed States Commercial Banking Business Environment Ratings ... 22
Table: Comparison of Loan/Deposit & Loan/Asset & Loan/GDP ratios . 23
Table: Anticipated Developments in 2012 ... 23
Table: Comparison of Total Assets & Client Loans & Client Deposits (US$bn) . 24
Table: Comparison of US$ Per Capita Deposits (2011) .. 24
Table: Interbank Rates and Bond Yields .. 25
Germany Banking Sector Outlook 26
Economic Outlook .. 30
Table: Germany – Economic Activity, 2011-20016 . 34
Competitive Landscape . 35
Market Structure ... 35
Protagonists . 35
Table: Protagonists In Germany's Commercial Banking Sector .. 35
Definition Of The Commercial Banking Universe 35
List Of Banks ... 36
Table: Top 50 Banks By Assets 36
Company Profiles ... 38
Deutsche Bank . 38
Table: Stock Market Indicators, 2006-2012 . 40
Table: Balance Sheet (EURmn), 2006-2011 40
Table: Balance Sheet (US$mn), 2006-2011 . 40
Table: Key Ratios (%), 2006-2011 ... 41
Commerzbank .. 42
Table: Stock Market Indicators, 2006-2012 . 43
Table: Balance Sheet (EURmn), 2006-2011 43
Table: Balance Sheet (US$mn), 2006-2011 . 44
Table: Key Ratios (%), 2006-2011 ... 44
HypoVereinsbank . 45
Table: Stock Market Indicators, 2004-2010 . 46
Table: Balance Sheet (EURmn, unless stated), 2004-2009 .. 46
Table: Balance Sheet (US$mn, unless stated), 2004-2009 ... 46
Table: Key Ratios (%), 2004-2009 ... 47
DZ Bank ... 48
Table: Stock Market Indicators, 2005-2008 . 49
Table: Balance Sheet, 2005-2008 (EURmn, unless stated) .. 49
Table: Balance Sheet, 2005-2008 (US$mn, unless stated) ... 49
Table: Key Ratios, 2005-2008 (%) ... 50
KfW .. 51
Table: Key Statistics For KfW, 2007-2008 (EURmn) .. 52
Deutsche Postbank ... 53
Table: Stock Market Indicators, 2006-2012 . 54
Table: Balance Sheet (EURmn), 2006-2011 54
Table: Balance Sheet (US$mn), 2006-2011 . 54
Table: Key Ratios (%), 2006-2011 ... 55
UniCredit Bank AG .. 56
Table: Stock Market Indicators, 2006-2012 . 57
Table: Balance Sheet (EURmn), 2006-2011 57
Table: Balance Sheet (US$mn), 2006-2011 . 57
Table: Key Ratios (%), 2006-2011 ... 58
BMI Banking Sector Methodology 59
Commercial Bank Business Environment Rating .. 61
Table: Commercial Banking Business Environment Indicators And Rationale 62
Table: Weighting Of Indicators ... 63Table: Levels (EURbn) . 5
Table: Levels (US$bn) . 5
Table: Levels At February 2012 . 5
Table: Annual Growth Rate Projections 2012-2016 (%) . 5
Table: Ranking Out Of 59 Countries Reviewed In 2011 . 6
Table: Projected Levels (EURbn), 2008-2016 . 6
Table: Projected Levels (US$bn), 2008-2016 . 6
Table: Commercial Banking Business Environment Ratings . 9
Table: Developed States Commercial Banking Business Environment Ratings . 11
Table: Banks' Bond Portfolios 2011 . 22
Table: Developed States Commercial Banking Business Environment Ratings . 22
Table: Comparison of Loan/Deposit & Loan/Asset & Loan/GDP ratios . 23
Table: Anticipated Developments in 2012 . 23
Table: Comparison of Total Assets & Client Loans & Client Deposits (US$bn) . 24
Table: Comparison of US$ Per Capita Deposits (2011) . 24
Table: Interbank Rates and Bond Yields . 25
Table: Germany – Economic Activity, 2011-20016 . 34
Table: Protagonists In Germany's Commercial Banking Sector . 35
Table: Top 50 Banks By Assets . 36
Table: Stock Market Indicators, 2006-2012 . 40
Table: Balance Sheet (EURmn), 2006-2011 . 40
Table: Balance Sheet (US$mn), 2006-2011 . 40
Table: Key Ratios (%), 2006-2011 . 41
Table: Stock Market Indicators, 2006-2012 . 43
Table: Balance Sheet (EURmn), 2006-2011 . 43
Table: Balance Sheet (US$mn), 2006-2011 . 44
Table: Key Ratios (%), 2006-2011 . 44
Table: Stock Market Indicators, 2004-2010 . 46
Table: Balance Sheet (EURmn, unless stated), 2004-2009 . 46
Table: Balance Sheet (US$mn, unless stated), 2004-2009 . 46
Table: Key Ratios (%), 2004-2009 . 47
Table: Stock Market Indicators, 2005-2008 . 49
Table: Balance Sheet, 2005-2008 (EURmn, unless stated) . 49
Table: Balance Sheet, 2005-2008 (US$mn, unless stated) . 49
Table: Key Ratios, 2005-2008 (%) . 50
Table: Key Statistics For KfW, 2007-2008 (EURmn) . 52
Table: Stock Market Indicators, 2006-2012 . 54
Table: Balance Sheet (EURmn), 2006-2011 . 54
Table: Balance Sheet (US$mn), 2006-2011 . 54
Table: Key Ratios (%), 2006-2011 . 55
Table: Stock Market Indicators, 2006-2012 . 57
Table: Balance Sheet (EURmn), 2006-2011 . 57
Table: Balance Sheet (US$mn), 2006-2011 . 57
Table: Key Ratios (%), 2006-2011 . 58
Table: Commercial Banking Business Environment Indicators And Rationale. 62
Table: Weighting Of Indicators . 63