German banks have around 23.5 billion euros ($28 billion) in credit exposure to Greece, but the systemic risk is limited as the biggest commercial banks, Deutsche Bank (DBKGn.DE) and Commerzbank (CBKG.DE), hold only a tiny fraction of that, according to figures gathered by Reuters.
The lion’s share of German exposure is held by the state-owned development bank KfW, with lending totaling 15 billion euros to the Greek state, the banking industry group BdB said.
Commerzbank said it held around 400 million euros in exposure to Greece at the end of September, while Deutsche Bank said it held around 298 million euros in exposure to corporate, bank and public debt.
Greek politics has weighed on markets including the euro as speculation intensified that Greece could leave the euro zone after a snap election on Jan. 25.
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