1 HISTORY GERMAN BANKIN INDUSTRY

The development of the German banking industry is closely related to Germany’s history and its evolving industry. The development of the banking sector was a respond to the industrialization and the accompanying financial needs.

Until 1870 the banking sector was dominated by private bankers and influential “banking families”. Some of them are still known today, such as Sal. Oppenheim jr. & Cie.

The privat bankers were financed only by equity capital. However as the industrialization went on and the need for money and financing constantly grew, this solely equity was not sufficient anymore to finance the occurring capital intensive industries. In response of that the private bank Abraham Schaaffhausen was transformed into the first incorporated bank on August 28, 1984. Following this example more and more incorporated banks occurred, especially in the area of the Rheinland where the capital intensive industry was very active. Still......

Join Now to view the rest of this term paper!
Members: Login to view this research paper.

Title: Banking Sector Germany
Approximate Word Count: 1090
Approximate Pages: 5 (250 words per double-spaced page)

With the Term Papers Lab Membership Pass, you get instant access to every essay on this site, including this essay on Banking Sector Germany, for as long as you remain a member.

Other essays sites charge almost $100 for a single term paper. At Term Papers Lab, you can get instant access to over 100,000 research papers for as little as $29.95!