Neue Großbankenlandschaft
Die Strukturen in der Spitzengruppe des deutschen Kreditgewerbes haben sich nachhaltig verändert. Durch Fusionen, Übernahmen und Beteiligungen ist in den vergangenen zehn Jahren eine neue Großbankenlandschaft entstanden. Und auch die anderen Sektoren der Finanzwirtschaft sind in Bewegung geraten - nicht zuletzt eine Folge der Marktturbulenzen.
Bis 1997 gab es in der deutschen Bankenwelt eine feste Größe: die drei Frankfurter Großbanken. Und auch die Rangfolge des Spitzentrios der deutschen Kreditwirtschaft hatte über die Jahre Bestand: Dem Branchenprimus Deutsche Bank folgten die Dresdner Bank und die Commerzbank.
Bewegung in der Bankenwelt
Das Bild änderte sich 1998, als durch die Fusion zwischen der Bayerischen Vereinsbank und der Bayerischen Hypotheken- und Wechselbank die HypoVereinsbank (HVB) entstand. In der bayerischen Metropole München war die vierte Großbank geboren, die in den folgenden Jahren im Branchen-Ranking Platz zwei belegte.
Top 100 Tabelle
Einen zusätzlichen Schub erhielt die Münchener HVB Group im Jahr 2000 durch den Kauf des größten österreichischen
Geldinstituts Bank Austria Creditanstalt. Hierdurch gelang nicht nur eine starke Positionierung in der benachbarten Alpenrepublik, sondern insbesondere auch der Einstieg ins wachstumsträchtige Osteuropageschäft. Denn der österreichische Branchenprimus hatte sich frühzeitig in Mittel- und Osteuropa engagiert.
Die herausragende Präsenz der HVB in Bayern, Österreich sowie Zentral- und Osteuropa erschien der italienischen Uni-Credit Group offensichtlich als so attraktiv, dass sie 2006 die HypoVereinsbank übernahm. Es entstand ein Finanzkonzern, der unter den Topinstituten in der europäischen Bankenliga angesiedelt ist.
Eine ebenfalls andere Prägung gab der Gruppe der Großbanken im Jahr 2001 die Integration der Dresdner Bank in den Allianz-Konzern, der in der Symbiose aus Bank- und Versicherungsgeschäft das ideale Geschäftsmodell sah. Doch der Zusammenschluss war nicht von Dauer. Die Dresdner Bank wurde nunmehr von der Commerzbank übernommen. Hierdurch entstand in der deutschen Bankenlandschaft ein Wettbewerber in einer beachtlichen Größenordnung.
Im Banken-Ranking 2008 sind Commerzbank und Dresdner Bank noch getrennt gelistet, da die Übernahme erst 2009 endgültig vollzogen wurde. Die addierte Bilanzsumme beider Häuser erreicht über 1 Bio €. Damit nimmt der neue Commerzbank-Konzern unangefochten die Position 2 im Ranking der deutschen Kreditinstitute ein - mit weitem Abstand vor der HypoVereinsbank. Traditionell an der Spitze steht die Deutsche Bank (Bilanzsumme 2,2 Bio €). Ihre Führungsposition wird sogar noch deutlich gestärkt, wenn die Postbank vollständig übernommen wird. Bislang beträgt der Anteil 25 % plus eine Aktie.
Expansive Autobanken
Auf Expansionskurs blieben 2008 namhafte Spezialinstitute. So setzte die ING DiBa ihr Bilanzsummenwachstum (+ 7,5%) fort und nimmt inzwischen Position 21 ein. Die ebenfalls als Direktbank konzipierte DKB verbessert sich von Rang 32 auf 27. Auf der Überholspur befinden sich auch die auf Financial Services fokussierten Töchter der großen deutschen Automobilkonzerne: Volkswagen Bank (Rang 39), Mercedes-Benz Bank (50) und BMW Bank (90).
Ein großer Sprung nach vorn gelang der Santander Consumer Bank, die auf die Absatzfinanzierung von Kraftfahrzeugen und Konsumgütern spezialisiert ist. Mit der Übernahme des Konsumentenkreditgeschäfts der Royal Bank of Scotland, der RBS (RD Europe) GmbH, baute Santander die Wettbewerbsposition weiter aus. Die Bilanzsumme schnellte um 39% in die Höhe, und in den Top 100 verbesserte sich die Bank von Rang 56 auf 43.
Landesbanken vor Strukturwandel
Die Gruppe der Landesbanken, die in der Liste der größten deutschen Kreditinstitute seit Jahren die Positionen 4 bis 20 dominieren, wird von der Landesbank Baden-Württemberg angeführt, dicht gefolgt von der Bayerischen Landesbank. Nur noch auf Platz 10 der Top 100 ist die WestLB zu finden. Doch dies alles ist eine Momentaufnahme. Als Folge der aktuellen Krise wird sich die Struktur im Landesbankensektor grundlegend verändern.
Top 100 - 2008
Mittwoch, 21. Oktober 2009
Donnerstag, 16. April 2009
Is there a winner in this banking crisis?
Bankrate's Identity Crisis
Investors may see the banking info provider as part of the troubled mortgage industry. But one pro says it's a promising Web-advertising play
Even as its major advertisers -- banks and mortgage brokers -- limp through their worst crisis in decades, Bankrate (RATE) could actually prosper.
Bear Stearns (BSC) analyst Victor Anthony upgraded the Internet company's stock Nov. 26 from "peer perform" to outperform. Bankrate's growing web site and shrinking print operation makes money by helping customers find mortgages, deposit accounts and other financial products.
"The market has lumped Bankrate in with the housing and mortgage financing companies, who have seen their fundamentals deteriorate, rather than with the group of Internet stocks, who are benefiting from the secular shift of ad dollars to the Internet," Anthony wrote.
It's been a wild year for Bankrate's stock. It took a hit with the start of the subprime credit crisis in late July and then rebounded in the fall, partly due to speculation that the company might be bought. In early November, investors were underwhelmed by a mixed earnings report, which showed strong growth and site traffic but profit and revenues that didn't meet analysts expectations. Many investors lost faith in a buyout after company insiders sold shares.
Bankrate's stock has fallen 15% in November. That creates "an attractive entry point for investors," Anthony wrote. The stock moved higher Nov. 26 but then was pulled down along with the rest of the market. It ended up just 4 cents at $38.67 per share.
Anthony lays out a few positives for Bankrate amid the pain in the financial and housing sectors:
First, despite the worries, Bankrate has held onto advertisers like Citibank (C) and Bank of America (BAC).
Second, half of Bankrate's revenue doesn't come from mortgage ads but from other investment products, especially certificates of deposit. Countrywide (CFC) and IndyMac (IMB) have started advertising on Bankrate's deposit channel, Anthony says.
Third, the site is growing, with online revenues up 37% from a year ago, and that growth should continue and widen profit margins. The site will be re-designed early in 2008, and Bankrate has made new deals with sites like Yahoo! (YHOO), which should bring in more traffic.
Finally, more pain in the mortgage market may be Bankrate's gain. Mortgage rates on about $150 billion in non-subprime loans are expected to reset in 2008, which should drive many consumers to Bankrate.com looking to re-finance and lower their rates.
Federal Reserve interest rate cuts may also "spark consumer interest in searching for interest rate products," Anthony wrote.
Despite the optimism, Anthony admits Bankrate could be hurt if one or more of its advertisers were severely wounded by the financial crisis. There are other worries: Growth in page views for Bankrate is slowing. A recession, if it comes, would hurt. The site is facing more competition. And an anti-trust lawsuit, claiming Bankrate is a monopoly, was recently filed.
In its third quarter earnings release on Nov. 1, Bankrate executives said the firm was on track to meet its profit and revenue goals. But it may take another quarter or two for Bankrate to prove it is indeed immune to the mortgage and housing mess. Until then, the stock may continue its wild ride.
Mittwoch, 15. April 2009
Financial crisis from 16 Dec till today
NEXT VICTIM: CAR INDUSTRY
16 December
The US Federal Reserve slashes its key interest rate from 1% to a range of zero to 0.25% - the lowest since records began.
19 December
President George W Bush says the US government will use up to $17.4bn of the $700bn meant for the banking sector to help the Big Three US carmakers, General Motors, Ford and Chrysler.
29 December
The US Treasury unveils a $6bn bail-out for GMAC, the car-loan arm of General Motors.
31 December
The FTSE 100 closes down 31.3% since the beginning of 2008 - the biggest annual fall in the 24 years since the index was started.
The Dax in Frankfurt lost 40.4% over the year while the Cac 40 in Paris dropped 42.7%.
GLOOM DEEPENS
5 January
US President-elect Barack Obama describes America's economy as "very sick" and says that the situation is worsening.
8 January
The Bank of England cuts interest rates to 1.5%, the lowest level in its 315-year history, as it continues efforts to aid an economic recovery in the UK.
9 January
Official figures show the US jobless rate rose to 7.2% in December, the highest in 16 years. The figures also indicate that more US workers lost jobs in 2008 than in any year since World War II.
13 January
China's exports register their biggest decline in a decade.
German Chancellor Angela Merkel unveils an economic stimulus package worth about 50bn euros ($67bn; £45bn) to kick-start Europe's largest economy.
14 January
The UK government unveils a plan to guarantee up to £20bn of loans to small and medium-sized firms, to help them survive the downturn.
US Commerce Department figures show retail sales fell by more than expected in December, as shoppers cut back on spending over the Christmas period. The news prompts big falls in share prices in the US and Europe.
15 January
The European Central Bank (ECB) cuts eurozone interest rates by half a percentage point to 2%. The ECB has now reduced rates four times from 4.25% in September as it continues efforts to bolster the eurozone economy.
The Irish government says it is to nationalise the Anglo Irish Bank after deciding pumping money into the lender was not enough to secure its future.
16 January
The US government reaches an agreement to provide Bank of America with another $20bn in fresh aid from its $700bn financial rescue fund. The emergency funding will help the troubled bank absorb the losses it incurred when it bought Merrill Lynch.
Struggling US banking giant Citigroup announces plans to split the firm in two, as it reports a quarterly loss of $8.29bn (£5.6bn).
23 January
The UK has officially entered a recession as fourth quarter GDP falls by 1.5% compared to the previous three months.
24 January
President Obama pledges that his economic recovery package will be at the centrepiece of his administration. Mr Obama says that 80% of the spending will take place within 18 months.
28 January
World economic growth is set to fall to just 0.5% this year, its lowest rate since World War II, warns the International Monetary Fund (IMF). It now projects the UK will see its economy shrink by 2.8% next year, the worst contraction among advanced nations.
The International Labour Organization said that as many as 51 million jobs worldwide could be lost this year because of the global economic crisis.
5 February
The Bank of England cuts interest rates to a record low of 1% from 1.5% - the fifth interest rate cut since October.
10 February
The former bosses of the two biggest UK casualties of the banking crisis - RBS and HBOS - apologise "profoundly and unreservedly" for their banks' failure.
SPENDING OUR WAY OUT OF RECESSION
17 February
US President Barack Obama signs his $787bn (£548bn) economic stimulus plan into law, calling it "the most sweeping recovery package in our history".
The plan is aimed at saving or creating 3.5 million jobs and boosting consumer spending and rebuilding infrastructure.
2 March
Insurance giant AIG reports the largest quarterly loss in US corporate history of $61.7bn (£43bn) in the final three months of 2008. The firm is also to receive an extra $30bn from the US government as part of a revamped rescue package.
Meanwhile, HSBC confirms it is seeking to raise £12.5bn ($17.7bn) from shareholders through a UK rights issue .The news came as HSBC revealed pre-tax profits for 2008 of $9.3bn (£6.5bn), down 62% on the previous year.
14 March
Finance ministers from the G20 group of rich and emerging nations have pledged to make a "sustained effort" to pull the world economy out of recession . The main summit takes place in London in April.
18 March
The US Federal Reserve says it will buy almost $1.2 trillion (£843bn) worth of debt to help boost lending and promote economic recovery.
2 April
Leaders of the world's largest economies reach an agreement at the G20 summit in London to tackle the global financial crisis with measures worth $1.1 trillion (£681bn).
16 December
The US Federal Reserve slashes its key interest rate from 1% to a range of zero to 0.25% - the lowest since records began.
19 December
President George W Bush says the US government will use up to $17.4bn of the $700bn meant for the banking sector to help the Big Three US carmakers, General Motors, Ford and Chrysler.
29 December
The US Treasury unveils a $6bn bail-out for GMAC, the car-loan arm of General Motors.
31 December
The FTSE 100 closes down 31.3% since the beginning of 2008 - the biggest annual fall in the 24 years since the index was started.
The Dax in Frankfurt lost 40.4% over the year while the Cac 40 in Paris dropped 42.7%.
GLOOM DEEPENS
5 January
US President-elect Barack Obama describes America's economy as "very sick" and says that the situation is worsening.
8 January
The Bank of England cuts interest rates to 1.5%, the lowest level in its 315-year history, as it continues efforts to aid an economic recovery in the UK.
9 January
Official figures show the US jobless rate rose to 7.2% in December, the highest in 16 years. The figures also indicate that more US workers lost jobs in 2008 than in any year since World War II.
13 January
China's exports register their biggest decline in a decade.
German Chancellor Angela Merkel unveils an economic stimulus package worth about 50bn euros ($67bn; £45bn) to kick-start Europe's largest economy.
14 January
The UK government unveils a plan to guarantee up to £20bn of loans to small and medium-sized firms, to help them survive the downturn.
US Commerce Department figures show retail sales fell by more than expected in December, as shoppers cut back on spending over the Christmas period. The news prompts big falls in share prices in the US and Europe.
15 January
The European Central Bank (ECB) cuts eurozone interest rates by half a percentage point to 2%. The ECB has now reduced rates four times from 4.25% in September as it continues efforts to bolster the eurozone economy.
The Irish government says it is to nationalise the Anglo Irish Bank after deciding pumping money into the lender was not enough to secure its future.
16 January
The US government reaches an agreement to provide Bank of America with another $20bn in fresh aid from its $700bn financial rescue fund. The emergency funding will help the troubled bank absorb the losses it incurred when it bought Merrill Lynch.
Struggling US banking giant Citigroup announces plans to split the firm in two, as it reports a quarterly loss of $8.29bn (£5.6bn).
23 January
The UK has officially entered a recession as fourth quarter GDP falls by 1.5% compared to the previous three months.
24 January
President Obama pledges that his economic recovery package will be at the centrepiece of his administration. Mr Obama says that 80% of the spending will take place within 18 months.
28 January
World economic growth is set to fall to just 0.5% this year, its lowest rate since World War II, warns the International Monetary Fund (IMF). It now projects the UK will see its economy shrink by 2.8% next year, the worst contraction among advanced nations.
The International Labour Organization said that as many as 51 million jobs worldwide could be lost this year because of the global economic crisis.
5 February
The Bank of England cuts interest rates to a record low of 1% from 1.5% - the fifth interest rate cut since October.
10 February
The former bosses of the two biggest UK casualties of the banking crisis - RBS and HBOS - apologise "profoundly and unreservedly" for their banks' failure.
SPENDING OUR WAY OUT OF RECESSION
17 February
US President Barack Obama signs his $787bn (£548bn) economic stimulus plan into law, calling it "the most sweeping recovery package in our history".
The plan is aimed at saving or creating 3.5 million jobs and boosting consumer spending and rebuilding infrastructure.
2 March
Insurance giant AIG reports the largest quarterly loss in US corporate history of $61.7bn (£43bn) in the final three months of 2008. The firm is also to receive an extra $30bn from the US government as part of a revamped rescue package.
Meanwhile, HSBC confirms it is seeking to raise £12.5bn ($17.7bn) from shareholders through a UK rights issue .The news came as HSBC revealed pre-tax profits for 2008 of $9.3bn (£6.5bn), down 62% on the previous year.
14 March
Finance ministers from the G20 group of rich and emerging nations have pledged to make a "sustained effort" to pull the world economy out of recession . The main summit takes place in London in April.
18 March
The US Federal Reserve says it will buy almost $1.2 trillion (£843bn) worth of debt to help boost lending and promote economic recovery.
2 April
Leaders of the world's largest economies reach an agreement at the G20 summit in London to tackle the global financial crisis with measures worth $1.1 trillion (£681bn).
The Largest Banks in the US
The largest banks in the US ranked by deposits, according to FDIC, are:
Bank of America
JP Morgan Chase Bank
Wachovia Bank
Citibank
Washington Mutual Bank
SunTrust Bank
US Bank
Regions Bank
Branch Banking and Trust Company
National City Bank
HSBC Bank USA
World Savings Banks, FSB
Countrywide Bank
PNC Bank
Keybank
ING Bank, FSB
Merrill Lynch Bank USA
Sovereign Bank
Comerica Bank
Union Bank of California
Bank of America
JP Morgan Chase Bank
Wachovia Bank
Citibank
Washington Mutual Bank
SunTrust Bank
US Bank
Regions Bank
Branch Banking and Trust Company
National City Bank
HSBC Bank USA
World Savings Banks, FSB
Countrywide Bank
PNC Bank
Keybank
ING Bank, FSB
Merrill Lynch Bank USA
Sovereign Bank
Comerica Bank
Union Bank of California
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