Word: hypotheken
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...they opened primarily to finance trade between their countries and the U.S., or to serve multinational corporations and people who speak the same language as the bank's officers. Some still cater to an ethnic clientele. But, says Ekkehard Bellinger, executive vice president of the Munich-based Bayerische Hypotheken-und Wechsel-Bank, which opened in New York last summer, "once we are here, it is logical for us to generate our own business with clients who have nothing to do with Germany." Moreover, though they will not say so out loud, some foreign bank officers consider American bankers...