The banking system in Germany is a ____ banking system. This means that financial institutions in Germany are ____ to conduct all types of banking activities. Universal banks in Germany can be divided into three main ____: commercial banks, public- sector banks belonging to the savings bank sector, and cooperative banks. This division is commonly known in Germany as the three ____ structure, a term which expresses the strict separation of these groups. The Savings Banks Finance Group is one of the ____ banking groups in the world. The decentralised structure of the Group is one of its main ____. It means that the Savings Banks and their associated partners within the Savings Banks Finance Group are ____ all over Germany where they are required by customers in their ____ area. Expertise and ………………. are two of the key factors in their success For the major banks, as with all private-sector commercial banks, profit is the main target. In contrast, maximizing ____ is not the highest ____ for public-sector banks and cooperative banks. Savings banks are independent commercial enterprises ____ by municipal governments with the task or public ____, of providing all elements of society and the economy, particularly the ____, and the public sector, with appropriate and sufficient ____ services. Savings banks are thus committed by their municipal ownership to ____ their local region. Profits that are not needed to further strengthen their capital bases are used for the benefit of society.

German Banking System

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