October 2026
Largest Investment Banking Public Companies in Germany
Benchmark revenue and EBITDA valuation multiples for public comps like
Deutsche Bank, Commerzbank, Baader Bank, Novetum and Ascory Bank.
 | Deutsche Bank is a German multinational universal bank headquartered in the Twin Towers in Frankfurt and listed on the Frankfurt and New York stock exchanges. It was founded in Berlin on 10 March 1870, with Adelbert Delbrück and Ludwig Bamberger regarded as its key founders, and grew through acquisitions including Disconto-Gesellschaft in 1929, Morgan Grenfell in 1990, Bankers Trust in 1998 and Deutsche Postbank in 2010. The bank serves corporations, institutions, governments and private clients with corporate and investment banking, trading, retail and private banking, wealth management and asset management, the last through its majority stake in DWS Group. It earns net interest income from lending and deposits and fees and commissions from advisory, underwriting, trading, payments and asset management. In 2025 it reported revenue of €32.1 billion, net income of €7.1 billion and total assets of €1,435 billion, with 89,879 employees. Deutsche Bank has been designated a global systemically important bank since 2011 and is directly supervised by the European Central Bank. Christian Sewing is chief executive and Alexander Wynaendts chairs the supervisory board. | $31 | -13% | $59B | $59B | 1.6x | - | ||
| 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. | $41 | +12% | $44B | $44B | 3.0x | - | ||
| Baader Bank Aktiengesellschaft is one of the main European partners for investment and banking services. It is active in the areas Market Making, Capital Markets, Brokerage, Fund Services, Account Services and Research Services. Geographical presence in Germany, Great Britain, Croatia, Switzerland, and the USA. | $8 | +1% | $368M | $368M | 1.0x | - | ||
| Novetum AG provides various financial and capital markets consultancy services, primarily related to structuring, organization, and implementation of financing. It offers equity financing, debt financing, and hybrid financing, such as convertible bonds; and strategy and business development advisory services. The company primarily operates in Germany. | $46 | +39% | $288M | $288M | - | (554.7x) | ||
| Ascory Bank AG is a German credit institution. Its business model is focused as a specialist bank for structured financing in the corporate client sector targets start-up and scale-up clients in the fintech (including leasing and factoring institutions), energy transition, and leveraged finance sectors, and is based on a diversified funding plan. | $3 | -1% | $28M | $28M | 0.7x | - | ||
| Median | $31 | +1% | $368M | $368M | 1.3x | (554.7x) |
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