Table of Contents Executive Summary 2 Market value 2 Market value forecast 2 Category segmentation 2 Geography segmentation 2 Market rivalry 2 Market Overview 7 Market definition 7 Market analysis 7 Market Data 9 Market value 9 Market Segmentation 10 Category segmentation 10 Geography segmentation 11 Market Outlook 12 Market value forecast 12 Five Forces Analysis 13 Summary 13 Buyer power 15 Supplier power 17 New entrants 19 Threat of substitutes 22 Degree of rivalry 24 Leading Companies 27 Barclays Plc 27 HSBC Holdings Plc 30 Lloyds Banking Group Plc 33 The Royal Bank of Scotland Group Plc 36 Macroeconomic Indicators 40 Country data 40 Methodology 42 Industry associations 43 Related Us research 43 Appendix 44 About Us 44

List of Tables Table 1: Germany bpo services market value: $ million, 2013-17 Table 2: Germany bpo services market category segmentation: $ million, 2017 Table 3: Germany bpo services market geography segmentation: $ million, 2017 Table 4: Germany bpo services market value forecast: $ million, 2017-22 Table 5: Bertelsmann SE & Co. KGaA: key facts Table 6: Bertelsmann SE & Co. KGaA: key financials ($) Table 7: Bertelsmann SE & Co. KGaA: key financials (€) Table 8: Bertelsmann SE & Co. KGaA: key financial ratios Table 9: Capgemini SE: key facts Table 10: Capgemini SE: key financials ($) Table 11: Capgemini SE: key financials (€) Table 12: Capgemini SE: key financial ratios Table 13: HCL Technologies Limited: key facts Table 14: HCL Technologies Limited: key financials ($) Table 15: HCL Technologies Limited: key financial ratios Table 16: ISS AS: key facts Table 17: ISS AS: key financials ($) Table 18: ISS AS: key financials (DKK) Table 19: ISS AS: key financial ratios Table 20: Germany size of population (million), 2013-17 Table 21: Germany gdp (constant 2005 prices, $ billion), 2013-17 Table 22: Germany gdp (current prices, $ billion), 2013-17 Table 23: Germany inflation, 2013-17 Table 24: Germany consumer price index (absolute), 2013-17 Table 25: Germany exchange rate, 2013-17 List of Figures Figure 1: Germany bpo services market value: $ million, 2013-17 Figure 2: Germany bpo services market category segmentation: % share, by value, 2017 Figure 3: Germany bpo services market geography segmentation: % share, by value, 2017 Figure 4: Germany bpo services market value forecast: $ million, 2017-22 Figure 5: Forces driving competition in the bpo services market in Germany, 2017 Figure 6: Drivers of buyer power in the bpo services market in Germany, 2017 Figure 7: Drivers of supplier power in the bpo services market in Germany, 2017 Figure 8: Factors influencing the likelihood of new entrants in the bpo services market in Germany, 2017 Figure 9: Factors influencing the threat of substitutes in the bpo services market in Germany, 2017 Figure 10: Drivers of degree of rivalry in the bpo services market in Germany, 2017 Figure 11: Bertelsmann SE & Co. KGaA: revenues & profitability Figure 12: Bertelsmann SE & Co. KGaA: assets & liabilities Figure 13: Capgemini SE: revenues & profitability Figure 14: Capgemini SE: assets & liabilities Figure 15: HCL Technologies Limited: revenues & profitability Figure 16: HCL Technologies Limited: assets & liabilities Figure 17: ISS AS: revenues & profitability Figure 18: ISS AS: assets & liabilities

Bertelsmann SE & Co. KGaA Capgemini SE HCL Technologies Limited ISS AS