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German Private and State Banks Have $28 Billion Greek Exposure

Posted By Alfonso Esparza On In FX,Newsfeed | No Comments

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.

via Reuters [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

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