Germany has a universal banking system

Germany has a universal banking system, i.e. German banks are
typically engaged in a full range of banking activities rather than
being specialized or restricted to certain activities. Despite all the
differences in their legal form, size, organization and business
structure, the vast majority of banks provide virtually every type
of banking services. Large parts of the banking sector are public-
ly owned or controlled, or are cooperatives. These banks play an
important role in the development of local communities.