May 2026
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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 universal bank operating on a global scale. The bank offers corporate, retail, investment banking, private banking, and asset management to its clients. | $32 | +10% | $61B | $221B | 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. | $43 | +39% | $47B | $47B | 3.1x | - | ||
| 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 | +54% | $386M | $464M | 1.2x | - | ||
| 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. | $36 | +10% | $223M | $222M | - | 997.1x | ||
| 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 | -- | $30M | $78M | 1.8x | - | ||
| Median | $32 | +25% | $386M | $464M | 2.5x | 997.1x |
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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