credit institution
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credit institution
A company in the financial sector that is authorized to grant loans and carry out other banking transactions. Banks and savings banks are typical examples of credit institutions.
Für die Finanzierung des Hauses müssen wir uns an ein Kreditinstitut wenden.
For the financing of the house, we have to contact a credit institution.
The word is made up of 'der Kredit' (loan/credit) and 'das Institut' (institution). So it is literally an institution that grants loans.
Jedes Kreditinstitut hat andere Konditionen für einen Hauskredit.
Every credit institution has different conditions for a home loan.
'Kreditinstitut' (credit institution) is a very formal and official term that often appears in contracts, news reports, or specialist texts. It is the general term for institutions such as banks and savings banks.
Die Bundesanstalt für Finanzdienstleistungsaufsicht überwacht alle deutschen Kreditinstitute.
The Federal Financial Supervisory Authority monitors all German credit institutions.
Typical verbs used with 'Kreditinstitut' (credit institution) are 'sich wenden an' (to contact/turn to), 'ein Darlehen aufnehmen bei' (to take out a loan with), or 'ein Konto eröffnen bei' (to open an account with).
Viele Gründer wenden sich für die Erstfinanzierung an ein Kreditinstitut.
Many founders turn to a credit institution for initial financing.
bank / bench
Here, Bank and Kreditinstitut refer to a company that conducts banking business. Bank is the usual everyday term. Kreditinstitut is a more formal collective term that includes, for example, banks and savings banks, and is especially suitable for official texts.
Im Vertrag wird das Kreditinstitut genannt, das den Kredit vergibt.
The contract names the credit institution that is granting the loan.
Ich frage meine Bank nach einem günstigeren Kredit.
I’m asking my bank about a cheaper loan.
