Professional Documents
Culture Documents
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• 18 finance companies
• 12 financial leasing companies 24.30%
18.80%
Agribank
BIDV
Banks.
11.50%
2.20% Sacombank
techcombank
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Agribank
BIDV
Vietcombank Agribank
15.50% 13.60% BIDV
1.00% Viettinbank
1.10%
Viettinbank
1.10% ACB
1.50% 1.00% Vietcombank
13.80%
21.20% techcombank
1.70% 1.30% ACB
1.80% Sacombank 1.30%
10.80% Sacombank
1.90% 1.30%
MB techcombank
1.90% 12.10% Eximbank Eximbank
2.10%
VIB Đông Á bank
1.80%
2.50% SCB SCB
10.90% 9.40%
2.60% 2.00% 2.50% MB
5.60% Maritimebank
9.60% 2.80%
3.90% 2.10% VIB
Đông Á 3.90% 4.10%
Maritimebank
4.00% HSBC 2.30%
MHB
Ocean bank
Southermbank
VP bank
37 ngân hàng khác
An bình bank
MHB
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Conclusion
• Germany has large No. of banks, much larger than French Mutual Funds Nov. 2009 € 1,251.2 bn
France & very much larger than UK
• French Insurance (L/T + General) € 1,403.9 bn
But fewer branches per bank
• UK has few banks & few branches • USA Insurance $ 5,921 bn
Out of 401, many are wholesale banks with one • USA Pension Fund $ 4,600 bn
branch
• Insurance sector very similar to that of UK
• FRANCE : Insurance Companies
Mutual Funds
• But mutual fund sector is larger because :
No Pension Funds It substitutes in part role of UK Pension Fund
• So PAYG state pensions are much more important.
• Private savings for retirement by accumulating bank
products or L/T Insurance or Mutual Funds
Germany
- Bank-based financial system.
- Large No. of Banks—largest European Banking sector
- Least concentrated, largest 5 holding only 22% of assets.
Banks are divided into:
1. Universal Banks (very much the norm in Germany)
2. Specialized Credit Institutions
Universal Banks: provide a full range of banking services & many other
services (that elsewhere would be called financial rather than banking
services) offer the usual range of retail banking services but also
engage in wholesale and investment banking
• Commercial Banks
• Land Banks
• Savings Banks
• Regional Institutions of Credit Cooperatives
• Credit Cooperatives
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GERMANY
Specialized Credit Institutions: •France + UK: Closed & Open-ended funds
• Mortgage Banks • German Mutual Funds mainly open-ended
• Buildings & Loan Associations • German Mutual Fund sector: much larger than
• Banks with special functions UK
•German Mutual Fund : € 795,051 m (end July 2009)
NDTI’s : Absence of Pension Fund •French : € 1251,000 m (end Nov. 2009)
• German households must do L/T savings by •UK : £ 593,000 m
Time Deposits with banks or buy more equity- (€ 677,000 m)
based products through Insurance co. or
Investment Funds
• Why does Germany have a very small pension • Recent Structural Changes in Financial
fund sector? Systems (up to 2007)
• Explanation similar to France: state takes
larger role in pension provision than UK &
USA
• Pension PAYG basis
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Reaction to Crisis
Recession: UK US Euro
Many countries - Crisis & Recession followed worst badly shortest-least
Need to look at changes in regulations Gov.+ Regulators + Central Banks= their
“Innocent taxpayers compensating rich bankers” responses not markedly different
Cost of crisis varied widely Regulatory changes require some “coordination
Cost of support packages in US$ Trillions & agreement
UK= 1.71 tn; US= 10.48 tn; Euro = 2.97 tn SOME SUGGESTIONS:
Merely a summary of explicit cost of 1) Cap Bankers’ bonuses—performance-linked
supporting
2) Increase competition within Banking System by
No account of ‘cost to real economy’- GDP ↓ reducing barriers to entry. Large banks behave
Cost to GDP% : UK - 74% ; US - 73% ; Euro – recklessly; small banks less secure, behave more
18% responsively