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Financial crisis accelerates shift of power in the global banking system
The global banking system has undergone a fundamental shift of power for years – away from traditionally dominating financial institutions from the US, Europe and Japan towards banks in the emerging markets.
The global banking system has undergone a fundamental shift of power for years – away from traditionally dominating financial institutions from the US, Europe and Japan towards banks in the emerging markets. [more]
In Europe, Switzerland and Germany have long trailed at the bottom of the league in terms of residential ownership, despite increases versus the 1990s. The reasons for this are complex: both countries have a relatively well developed rental market – to some extent the reason for and the consequence of the lower owner share. [more]
China has yet again set new records in 2014. It became the largest economy by purchasing power parity and the number one recipient of FDI inflows – thanks mostly to slowing foreign investment to the US. For the EU, China became the second most important export market with a share of 9.7%, trailing only the US (18.3%). [more]
Germany broke its export record again in 2014. The total value of goods exports rose by 3.7% to over EUR 1.1 trillion. Out of the major sectors the automotive industry reported the highest export growth in 2014 (+6.5%), followed by pharmaceuticals (+6%) and electrical engineering (+3.6%). [more]
Since the height of the financial crisis at the end of 2008, the use of different debt finance instruments by companies in the euro area has been diverging remarkably: whereas the outstanding volume of traditional bank loans has fallen by about EUR 360 bn on aggregate (-7.4%), net issuance of corporate bonds (i.e. long-term debt securities) has amounted to almost exactly the same cumulative (but positive) figure over the same period of time (a rise by 63%). [more]
Over the past ten years banks in Germany attracted over EUR 900 bn in new deposits from German households and businesses. This increased the market volume by nearly 50% vis-à-vis 2002. Today, public-sector banks hold 37% of total deposits, commercial banks one-third and cooperative banks roughly 20%. [more]
For the first time in at least a decade, all major revenue components at the 20 largest European banks declined simultaneously. Apart from trading income (-24%), the decrease was modest (interest income -0.5%, fees & commissions -1%) yet the looming challenge for banks’ business models has finally become crystal clear: there is no obvious driver for future growth. [more]
Last year, banks provided new syndicated loans of a gross global total of USD 1.6 tr, a drop by 41% yoy, following a similar decline in 2008 already. New lending thus reached a 10-year low, despite having doubled between 2003 and 2007... [more]
In modern economies the financial industry is one of the most important sectors. In terms of gross value-added, it ranks third in Germany for example, even ahead of mechanical and electrical engineering. [more]