NACE 64 – Financial Service Activities | Public Tenders

NACE 64 Financial services: banks, investment funds and financing in public tenders. CPV codes, contracting authorities and procurement procedures.

Definition: NACE 64 covers the activities of financial services companies, in particular the provision of banking services, the management of investment funds as well as other financing activities. Central banks, credit institutions, holding companies and financing institutions belong to this division.

Legal basis: NACE Rev. 2 (Regulation (EC) No 1893/2006) · Last updated: January 2026

What does NACE 64 cover?

NACE 64 (Financial service activities) classifies banking sector and financial intermediation companies — an area in which public contracting authorities appear both as buyers of financial services and as regulators and owners.

Division 64 within Section K (Financial and insurance activities) is broken down into four groups:

Group	Title	Typical services
64.1	Monetary intermediation	Monetary policy, currency reserves, payment infrastructure
64.2	Activities of holding companies	Administration of shareholdings, group financing
64.3	Trusts, funds and similar financial entities	Administration of investment funds, ETFs, money market funds
64.9	Other financial service activities	Leasing, factoring, consumer credit, promotional banks

Public contracting authorities procure from this sector banking services, payment processing, capital investments and financing instruments for investment projects.

Public Tenders: Sector NACE 64

Public financial service contracts cover a broad spectrum — from current accounts and payment processing for authorities through to syndicated financing for major infrastructure projects.

Typical types of contract

Banking services for authorities: Account management, payments, cash management for public institutions
Loan raising and bond issuance: Municipalities and federal states procure loans and issue bonds via structured tender procedures
Promotional bank financing: KfW (DE), AWS and OeKB (AT) provide financing instruments for public projects
Payment processing and cashier services: Municipal cashier offices and tax offices tender banking services
Factoring and receivables management: Public undertakings outsource receivables management to specialised service providers
Securities administration: Public-sector pension and pension funds award asset management mandates

Relevant CPV codes for NACE 64

The link between the NACE classification and tender search is provided by the CPV codes (Common Procurement Vocabulary), which must be stated in every contract notice on TED.

CPV Code	Title	Application
66100000	Banking and investment services	Account management, payments, deposits
66110000	Banking services	Current accounts, transfers, cash management
66120000	Investment banking services	Bond issuance, M&A consultancy, capital markets services
66130000	Brokerage and related securities and commodities services	Asset management, custody
66140000	Portfolio management services	Fund management, asset management
66150000	Financial markets administrative services	Exchange services, clearing

Current tenders with these CPV codes can be found on TED (Tenders Electronic Daily) as well as on national procurement platforms.

For Contracting Authorities and Bidders

Public contracting authorities

Municipalities, federal states and federal authorities are the main contracting authorities for banking services in the classical sense. Public-sector pension and pension funds award asset management mandates. State banks such as KfW (DE) or OeKB (AT) act as promotional institutions and use public funds for financing programmes. The European Investment Bank (EIB) and the European Investment Fund (EIF) provide financing instruments for EU-cofinanced projects.

Companies and bidders

Credit institutions and financial service providers participating in public tenders must typically provide the following evidence:

Banking authorisation: Valid banking licence from the national supervisory authority (FMA, BaFin) or the ECB
Rating: Minimum credit ratings are frequently required as an eligibility criterion (e.g. at least BBB+ for deposits)
Compliance and AML: Evidence of compliance with anti-money-laundering rules and sanctions regimes
Capital resources: Evidence of sufficient own funds ratios under CRR/CRD

Frequently Asked Questions on NACE 64 and public tenders

Are banking services subject to tendering obligations?
Yes — banking services (account management, credit, payment processing) are service contracts and must be tendered EU-wide from the applicable EU thresholds. Certain financial services are exempt from public procurement law under Annex XIV of Directive 2014/24/EU (e.g. issuance of securities by public bodies).

Can a municipality take up a loan without tendering?
Loan raising (borrowing) constitutes a service contract and is in principle subject to public procurement law. From the thresholds, EU-wide tendering is required. For municipal loans, the negotiated procedure with prior notice is often chosen.

What applies to public shareholdings in companies in the NACE 64 sector?
The acquisition and disposal of corporate shareholdings by public bodies is in principle not a procurement transaction and is therefore not subject to public procurement law. The position is different for service contracts with such companies.

Navigation: NACE 64 in context

NACE K – Financial and insurance activities: Parent section
NACE 65 – Insurance, reinsurance and pension funding: Insurance services
NACE 66 – Activities auxiliary to financial services and insurance activities: Fund management, brokers
NACE 69 – Legal and accounting activities: Legal support of financings

Last updated: January 2026
All information is provided without guarantee. For legally binding advice, please consult a law firm specialising in public procurement law.