2013年-ECB欧洲央行_Banking_structures_report_November_2013_41页_1mb

Banking Structures Report Summary - November 2013

Executive Summary

This report provides an analysis of the main structural developments in the euro area banking sector from 2008 to 2012, with data up to the first half of 2013. It focuses on the evolution of bank intermediation, including changes in the number of credit institutions, asset sizes, and efficiency metrics. The findings highlight the impact of the financial crisis on the sector, with banks reducing their size, streamlining operations, and improving efficiency. The report also compares the structural characteristics of the euro area and US banking sectors, noting differences in income sources, financial performance, and capitalisation.

I. The Structure of Bank Intermediation

1.1 Banking Sector Capacity

• The euro area banking sector underwent significant rationalisation since 2008, resulting in a net decrease of 592 credit institutions (−9%) from 2008 to 2012.
• At the end of 2012, there were 6,018 credit institutions in the euro area, including foreign branches.
• On a consolidated basis, the number of credit institutions decreased to 2,645, down from 2,909 in 2008.
• Total assets of the euro area banking sector amounted to €29.5 trillion at the end of 2012, a −11.6% decline from 2008, with most of the adjustment occurring in 2009.
• Germany and France remained the largest banking sectors, with total assets of €7.6 trillion and €6.8 trillion, respectively.
• Estonia and Slovenia had the smallest banking sector assets, at €21 billion and €49 billion, respectively.
• Luxembourg, Malta, and Ireland had the highest ratio of banking assets to GDP, with Luxembourg at 1666%, Malta at 789%, and Ireland at 609%.
• Foreign-controlled subsidiaries dominated the banking assets in Luxembourg, Malta, and Ireland, with minimal domestic linkages.
• Key capacity indicators (population per branch, population per employee, assets per employee) showed improvements in efficiency, with the most significant increases in Estonia (46%), Ireland (33%), Spain (21%), and Netherlands (41%).

1.2 Consolidation and Merger and Acquisition Activity

• M&A activity in the euro area and EU banking sectors declined significantly since 2008.
• The number of credit institutions in the euro area and EU fell steadily, with the largest declines in Greece, Spain, Portugal, and Ireland.
• In 2012, non-domestic transactions dropped to less than half of the 2008 level, reflecting conservative strategies, economic uncertainty, and capital strengthening efforts.
• Domestic M&A activity remained stable, driven by intragroup consolidation in Germany and Italy, and bank restructuring in EU-IMF programme countries.
• The value of M&A transactions in the euro area dropped sharply from €100 billion in 2007 to just €10 billion by 2012.
• No major cross-border M&A transactions occurred in 2012 and 2013, and non-EU acquirers were also not active.

1.3 Concentration and Competition

• Market concentration increased across the euro area and EU since 2010, measured by the C5 index and Herfindahl index (HHI).
• The C5 index peaked in 2011 and slightly declined in 2012, remaining above pre-crisis levels.
• Germany, Luxembourg, and Austria had the lowest concentration levels, with C5 ranging from 30% to 90%.
• Estonia had the highest concentration at 90%, while Germany and Luxembourg had the lowest at 30%.
• Concentration trends were driven by deleveraging, bank restructuring, and intragroup reorganisation, especially in countries like Greece, Spain, and Ireland.
• Consolidated concentration indices produced higher results than individual bank-based indices.

II. Structural Developments in Banking Activity

2.1 Balance Sheet Structure

• From 2008 to 2012, the share of total loans in bank assets decreased in most euro area countries, particularly in 2011 and 2012, due to deleveraging and economic weakness.
• Some banks transferred distressed loans to asset management companies or bad banks.
• The median share of debt securities in bank assets rose slightly in 2012 but masked country-specific variations.
• France had the lowest share of loans and receivables at 49%, while Ireland had the highest at 80%.
• Germany and France had higher shares of trading assets (around 30%) due to the presence of investment banking activities.
• Large banks had a higher share of trading assets (24%) compared to medium-sized (4%) and small banks (2%).
• Medium-sized banks were dominated by loans and receivables (69%), indicating a focus on retail banking.

Special Feature

• The report includes a special feature titled "Structural characteristics of the euro area and US banking sectors: key distinguishing features".
• This section highlights differences in banking structures, roles, and activities between the euro area and the US, which explain variations in income sources, financial performance, and capitalisation.

Key Indicators (End of 2012)

Notes

• Assets per employee increased in some countries due to deleveraging and employee reductions.
• Deposit funding increased, with the median share of customer deposits in liabilities reaching 46% in 2012, up from 40% in 2008.
• Wholesale funding decreased, indicating a shift towards more stable funding sources.