The banking sector in Europe is diverse and includes a mix of large multinational banks, mid-sized national banks, and smaller regional banks.

The sector is regulated at both the European Union (EU) level and at the national level. The EU has implemented a number of measures to improve the stability and resilience of the banking sector, including the creation of a banking union and the implementation of the Basel III regulatory framework.


There are several major banking groups in Europe, including BNP Paribas, Deutsche Bank, and HSBC. These banks operate in a number of countries and offer a range of financial products and services, including retail banking, corporate banking, and investment banking. The banking sector in Europe is also home to a number of smaller, regional banks, which tend to focus on serving the needs of a specific geographic area or customer base.


European banking statics

As of 2021, the total assets of the banking sector in the European Union were approximately €33 trillion. The sector employed around 2.5 million people. The largest banks in Europe by total assets are BNP Paribas, Deutsche Bank, and HSBC. The banking sector in Europe is highly regulated, with both EU-level and national-level regulations in place to ensure the stability and resilience of the sector.


It is difficult to give a precise number of banks in Europe, as the definition of a “bank” can vary depending on the country and the type of activities that the institution engages in. In addition, the banking sector in Europe is constantly evolving, with new banks being established and others being merged or dissolved.


According to data from the European Banking Authority (EBA), as of 2021 there were approximately 6,000 credit institutions operating in the European Union. These institutions include banks, as well as other types of financial institutions such as building societies and credit unions. The number of banks in Europe is likely to be lower than this total, as it does not include non-bank financial institutions.


European banking federation

The European Banking Federation (EBF) is the voice of the European banking sector, representing the interests of over 4,500 banks in Europe. The EBF represents banks at the European level and works to promote a stable and well-functioning financial system in Europe. The organization is based in Brussels, Belgium and has a membership that includes national banking associations from across the EU, as well as a number of observer member banks from outside the EU.


The EBF engages with policy makers and regulators at the European level to advocate for policies that support the growth and stability of the banking sector. The organization also works to promote the adoption of best practices within the banking industry, and it provides a forum for banks to come together to share knowledge and expertise. In addition, the EBF works to promote financial literacy and educate the public about the role of banks in the economy.


European banking authority

The European Banking Federation (EBF) is a trade association that represents the interests of the banking sector in Europe. It is headquartered in Brussels and has member banks in all 28 EU member states, as well as in a number of other European countries. The EBF was founded in 1960 and is the voice of the European banking industry at the European level. It works to promote the interests of its member banks and to ensure that the sector is able to contribute to economic growth and stability in Europe. The EBF also promotes high standards of conduct and professionalism within the sector. Its membership consists of national banking associations and individual banks.


European central bank

The European Central Bank (ECB) is the central bank of the European Union (EU) and is responsible for the monetary policy of the eurozone, which consists of 19 of the 27 EU member states that have adopted the euro as their currency. The ECB is headquartered in Frankfurt, Germany, and its main task is to maintain price stability in the eurozone.

The ECB is an independent institution, which means that it is not subject to any political interference and is solely responsible for achieving its mandate. The ECB sets the interest rates at which it lends to commercial banks, and it has a number of other tools at its disposal to influence the supply of money in the economy. The ECB also plays a role in the supervision and regulation of banks in the eurozone, and it works to ensure the stability of the financial system.

The Governing Council of the ECB is responsible for setting the monetary policy of the eurozone. It consists of the members of the Executive Board of the ECB and the heads of the national central banks of the member states. The President of the ECB is currently Christine Lagarde.


Definition of the best online banks in Europe

Online banks, also known as “digital banks” or “neobanks,” are financial institutions that offer banking services entirely online, without any physical branches. Customers can open accounts, make deposits, withdraw funds, and manage their money using a computer or smartphone, rather than visiting a traditional bank branch.

When it comes to determining the best online banks in Europe, it will depend on what factors are most important to you. Some things to consider when evaluating online banks may include:

  • Fees: Does the bank charge fees for certain services, such as account maintenance or ATM usage?
  • Interest rates: Does the bank offer competitive interest rates on its deposits and loans?
  • Convenience: Is it easy to access and manage your account online, and does the bank offer a wide range of digital tools and features?
  • Customer service: Is customer service available 24/7, and is it easy to get in touch with a representative if you have a question or issue?
  • Security: Does the bank have strong security measures in place to protect your personal and financial information?
  • Reputation: Does the bank have a good reputation with customers and industry experts?

It may be helpful to compare the features and services offered by different online banks in Europe to determine which one is the best fit for your needs.

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