Several major foreign banks have chosen the Main metropolis as a hub for their European business.
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(Photo: REUTERS)
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Frankfurt Two weeks after the completion of Brexit, an initial conclusion can be drawn for Germany as a financial center: According to the Federal Ministry of Finance, 55 banks and financial service providers in Germany tried to obtain a business license as a result of the UK’s exit from the EU, and 54 of the applications were approved.
In addition to the financial institutions, three property and accident insurers also received business permits. This emerges from the answer to a small question from FDP MP Frank Schäffler that the Handelsblatt has received.
The increase is remarkable. At the beginning of 2019, Bafin boss Felix Hufeld had spoken of 45 financial houses. In addition to credit institutions, this group also includes investment firms and other financial service providers. In November, the Bundesbank spoke of 40 credit institutions, investment firms and financial service providers that had received new licenses in Germany or expanded existing ones.
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