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Sector Analysis
Germany Retail Banking: Opportunities and Risks to 2023
Germany’s total loan balances outstanding (including credit card, personal loan, and residential mortgage balances outstanding) recorded a compound annual growth rate (CAGR) of 3.1% during the review period (2014-18) to reach €1.7tn ($1.9tn). The burden of household debt to GDP growth is lower than other developed nations around the world, as German consumers are more averse to debt and have a higher savings ratio. The German economy is characterized by income and employment growth that has provided a boost in...