German Consumer Protection Minister Ilse Aigner said on Friday promised a solution to soaring cash machine withdrawal fees was on its way, as banks have signalled a willingness to agree to an upper limit.
Under threats of intervention from the government, Germany’s big banks are scrambling to hand out consumer information packs explaining the risks of various accounts and investments, a report revealed Sunday.
The scope of a newly uncovered tax evasion scandal reached a new dimension on Thursday, as German officials said far more money was likely squirreled away in Swiss accounts than previously thought.
Shoppers hit by a "Year 2010" computer bug that has rendered their bank cards useless will be compensated for any fees accrued through alternative payment, the German Savings Bank Association (DSGV) told daily <i>Bild</i> on Friday.
Global staff at Germany's largest bank, Deutsche Bank, will share the burden of a 50 percent British tax on bonuses, chairman Josef Ackermann said on Friday.
Chancellor Angela Merkel stepped up her warning on Saturday of a further credit crunch in Germany as she called on banks to meet their “responsibility” to lend money and help the nation’s fragile economic recovery.
One of Germany’s top bankers has blasted senior colleagues around the world with a call to end exorbitant bonuses in the banking industry, business newspaper <i>Handelsblatt</i> reported Sunday.
Troubled German property financier Hypo Real Estate (Hypo RE) will need until 2015 to repay about €100 billion of state aid, chief executive Axel Wieandt said Monday.
Bankers should stump up for the consequences of the global financial crisis, Germany's finance minister said to his G20 counterparts in an letter obtained by AFP on Monday.
Germany's cabinet agreed on a "bad bank" scheme on Wednesday to clean up toxic assets from banks' balance sheets, a key plank of Berlin's bid to turn around Europe's biggest economy.
German bank Hypo Real Estate (HRE) posted on Tuesday a first quarter loss of €382 million euros ($511 million) as the state pursued its bid to nationalise the troubled property lender.
US investor Christopher Flowers, who heads a consortium owning almost a quarter of Hypo Real Estate (HRE), has refused an offer by the German government to buy the shares to nationalise the troubled mortgage lender.
Germany's largest bank, Deutsche Bank, posted strong first quarter results on Tuesday, becoming the latest major bank in Europe and North America to offer hope for an eventual end to the financial crisis.
The German government launched a takeover of troubled Hypo Real Estate bank on Thursday with the aim of stabilising the financial markets as the worst recession since the 1930s sets in.
Germany adopted a highly controversial emergency law on Friday allowing the government to nationalise stricken banks by seizing investors' shares if necessary.
The integration of the headquarters of Commerzbank and Dresdner Bank in Frankfurt will result in the loss of approximately 2,200 full-time jobs in the city, the company announced on Tuesday.
Germany's second biggest bank, Commerzbank, posted a 2008 net loss of €6.6 billion ($9 billion) on Friday and said its board would take a 65 percent pay cut.
German deputies on Friday approved a first reading of legislation that could lead to a nationalisation of the Hypo Real Estate bank and the expropriation of US shareholder Christopher Flowers.
The US investor Christopher Flowers, a key shareholder in the troubled bank Hypo Real Estate, said Friday he expected to get about three euros per share for his holding if the bank is nationalised.
Several German bankers have called for the creation of a "bad bank" to buy devalued assets and risky loans in order to unblock interbank lending, a press report said on Tuesday.
Bavaria’s regional state bank BayernLB is hoping to dig out of its financial troubles by laying off some 5,600 workers, a statement to employees said on Monday.
Reassuring investors that its acquisition of crosstown rival Dresdner Bank wouldn’t be crushed by the financial crisis, Commerzbank on Friday said it would step up the purchase of an additional 40 percent Dresdner Bank stake and pay in cash rather than shares.
Germany's state-owned development bank KfW is expecting further losses in its final-quarter 2008 results, following losses in the first three quarters of the year, the bank's chief said on Monday.
