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Credit Institutions, Investment Firms, Leasing Enterprises
It is estimated that the EU numbered some 308 thousand financial services enterprises in 1996 (as classified within Section J of NACE Rev. 1), a relatively small share (2.7%) of the services (NACE Rev. 1 Sections G to K) total. Of these, more than half (56.3%) had no employees at all (mainly self-employed persons) and over a third (37.8%) had between 1 and 9 employees. Altogether, however, these very small enterprises (most of which were financial auxiliaries), whilst numerous, did not account for a significant share of activity, as they accounted for just 12.2% of employment and 3.9% of turnover [EU: Panorama of European Businesses 2000]. For the e-Business [email protected] purposes, we have a defined a sector within this industry that includes all of the financial intermediation activities - whether they are monetary or not - except insurance and pension funds as well as financial auxiliaries. Analysis of this sector will focus on:
Other monetary intermediation (65.12) mainly refers to activities of saving banks, co-operative banks and commercial banks. Credit institutions considered by the e-Business survey are primarily universal banks (commercial banks, saving banks, co-operative banks, public banks) as well as specialised banks (merchant or investment banks). The only credit institutions to be excluded are central banks, partly because of their general reluctance to be interviewed. European association(s)
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