Shake-up
Big German banks muscle in on retail
Forced to close branches, cut jobs, once dominant regional lenders lose some of their advantage over national rivals
On a grey, rainy winter morning, Martina Dentel is selling fresh rolls and bread in a small bakery in Gläserzell, a hamlet 100km to the north-east of Frankfurt. Through the window, she glances at a construction site. "That is where our Sparkasse used to be," says Ms Dentel.
The branch of her local savings bank, a type of lender usually owned by municipalities, was closed a year ago. The building has been torn down, to be replaced by residential housing. "These days, we don't even have a cashpoint here any more," she says, amid complaints about declining customer service and rising fees.
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