May 2026
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Largest Commercial Banking Public Companies in Germany
Benchmark revenue and EBITDA valuation multiples for public comps like
Deutsche Bank, Commerzbank, Nuernberger Beteiligungs, ProCredit Holding and Deutsche Pfandbriefbank.
 | Deutsche Bank is a universal bank operating on a global scale. The bank offers corporate, retail, investment banking, private banking, and asset management to its clients. | $33 | +17% | $63B | $223B | 5.8x | — | ||
| Commerzbank operates primarily in Europe. Germany accounts for about 70% of the total income. The bank operates two business segments: private and small-business customers, as well as corporate clients. In its private and small-business segment, the group operates a branch network, a mobile bank focused on the Polish market, an online broker, and an asset manager for physical assets. Its corporate client business provides cash management and trade finance solutions to small and medium-size enterprises and large companies. | $42 | +37% | $46B | $46B | 3.1x | — | ||
| Nuernberger Beteiligungs AG operates in the German financial services domain. Its prime focus is on offering insurance products that span the life, health, and property insurance products. The Life business area comprises of the company's subsidiaries engaged in the provision of life insurances, disability insurance, occupational pensions and various forms of risk insurance, and pension funds. The Health segment is concerned with the provision of health and supplementary insurance and the property insurance segment is responsible for the activities related to in property, casualty, accident insurance, as well as reinsurance. In addition, it provides banking services encompassing financial products, asset management, and investment services. | $140 | +132% | $2B | $964M | 0.2x | — | ||
| ProCredit Holding AG provides financial products are services. It performs general banking functions like accepting deposits, providing loans, current and savings accounts, and other banking services. The company's geographical segments are South-Eastern Europe, consisting of seven banks in the following countries: Albania, Bosnia and Herzegovina, Bulgaria (including branch operations in Greece), Kosovo, North Macedonia, Romania, and Serbia; Eastern Europe, with three banks located in the following countries, Georgia, Moldova, and Ukraine; South America, consisting of one bank in Ecuador; and Germany, consisting of the ProCredit Bank in Germany, ProCredit Holding, Quipu and the ProCredit Academy in Furth. | $9 | -22% | $554M | $1B | 2.1x | — | ||
| Deutsche Pfandbriefbank AG or Pbb, is a European specialist bank focused on financing commercial real estate and public investments. The company's operating segments include the Real Estate Finance (REF) segment, which provides financing to professional real estate investors, and the Non-Core (NC) segment, which encompasses financing eligible for Pfandbrief cover for the provision and enhancement of public infrastructure, as well as non-earmarked financing to the public sector (budget financing). The Consolidation & Adjustments (C&A) segment reconciles the total of the segment results to the consolidated outcome, including income from the investment of allocated equity. The majority of the bank's revenue is derived from the Real Estate Finance segment. | $4 | -39% | $544M | $21B | 43.1x | — | ||
| UmweltBank AG provides commercial banking services. The company offers various deposit products; savings accounts and bonds, investments, current accounts, and environmental accounts; and loan and financing products. The company offers its products for solar energy, wind and hydropower, combined heat and power station, low-energy construction, environmentally-friendly production, and organic farming and recycling fields. | $5 | -21% | $187M | $2B | 66.2x | — | ||
| Quirin Privatbank AG operates banking and financial business in two business segments including investment business for private clients (fee consulting) and advising on equity financing measures for medium-sized companies. | $4 | -19% | $168M | $168M | 1.7x | — | ||
| Merkur Privatbank KGaA is a private bank based in Germany. It focuses on the sectors of private customers, corporate clients, leasing finance, asset management, and real estate development financing. | $16 | -9% | $128M | $128M | 0.7x | — | ||
| Median | $13 | -14% | $549M | $2B | 2.6x | — |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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