SIGNIFICANT DECLINE THERE WILL BE A SIGNIFICANT DECLINE IN THE NUMBER OF BANKS IN GERMANY. WE ESTIMATE THAT 150 TO 300 BANKS WITH SUSTAINABLE BUSINESS MODELS WILL MAKE UP THE BANKING LANDSCAPE OF THE FUTURE. EU Forecast euf:b.a18b:93/nws-01Read More →
Likely scenario of a grand coalition Even in the most likely scenario of a grand coalition the future government’s stance on several issues is still in the dark, as the parties involved favour different approaches and the political dynamics is still high. With this disclaimer,what can markets expect from aRead More →
Losses of an Organschaft Under a provision in the Corporation Tax Act, the losses of an Organschaft parent or subsidiary may not be offset against present or future German income if they taken into account for taxation abroad by any entity. Caution is therefore advised, both for dual resident companiesRead More →
China’s property China property — “A place to live in,” is how China’s president Xi Jinping described residential property at the recent party congress. It wasn’t the first time he had said as much, so with such a clear tone from the top, it is no surprise that China hasRead More →
Official completion plans are unlikely to provide relief either Moreover, the market is expected remain tight until the end of the decade. Official completion plans are unlikely to provide relief either. In 2016 (latest available figures), only 13,700 residential units were completed, i.e. 0.7% of the total number of existingRead More →
High quality of life in Frankfurt The resulting high quality of life in Frankfurt has led to a continual rise in the number of residents in recent years. At the end of 2015, 724,500 people had registered Frankfurt as their main place of residence, an increase of 76,000 (12%) onRead More →
Capital gains Some of the major items in determining taxable income are considered below: – Capital gains are, in general, treated as ordinary income and taxed at ordinary rates (except gains from the sale of shares, see above). 100% of gains realized on the sale of real estate and buildingsRead More →
EM’s good news for 2018 The good news for emerging markets is that the conditions in 2018 are likely to remain supportive of productivity growth, the key driver of long-term outperformance. EU Forecast euf:b18:82/nws-01Read More →
An official coalition Amongst the three options for cooperation debated within the SPD an official coalition seem to be the most likely. Given the parties’ different political approaches with regard to various issues, compromises across the particular issues in the form of the usual horse trading seem to be necessaryRead More →
STRUCTURE OF THE FUTURE MARKET STRUCTURE OF THE FUTURE: SIGNIFICANTLY LESS BUT MORE FOCUSSED PROVIDERS Currently, there are more than 1,600 banks with average total assets of around €5.2 billion each (€4.0 billion in 2006). How will the different market scenarios affect incumbents? For both scenarios, we predict a significantRead More →
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