Bavaria plays a central role in German banking. Overall, the banks domiciled here have lent funds totaling about 500* billion euros to business and consumers. That's approximately 13 percent of the total lending volume of German banks. The majority of these loans are provided by Munich-based banks. These, in turn, make the city the second most important center of banking in Germany. Overall, about 50 banks are headquartered here – including two of Germany's largest banks, Bayerische Hypo- und Vereinsbank AG (HVB) and Bayerische Landesbank. In fact, about 160 banks, including numerous foreign banks, are present in Munich. This underscores the international significance of the financial center.
Bavaria itself is the home market for around 500 banks, including about 75 savings banks and just under 300 cooperative banks and 67 private banks. This means approximately 25 percent of all German banks are based in Bavaria – substantially more banks than in any other federal state, and even more than in the banking country, Switzerland. They employ approximately 121,000* people.
Traditionally, Bavarian banks play a major role in the mortgage business. For example, Munich banks issued around one-third of all mortgage bonds floated in Germany.
* as of 2013