Jump to content

Advanzia Bank: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
m →top: Missing space after ref tag., replaced: /ref>B → /ref> B
m Reverted 1 edit by 2A02:2454:C02B:D500:A51F:41A0:EDFC:160B (talk) to last revision by WikiCleanerBot
 
(18 intermediate revisions by 12 users not shown)
Line 1: Line 1:
{{COI|date=February 2023}}
{{use American English|date=February 2023}}
{{use dmy dates|date=February 2023}}
{{Infobox company
{{Infobox company
| name = Advanzia Bank S.A.
| name = Advanzia Bank S.A.
| logo = Advanzia Bank Logo 2021.png
| logo = Advanzia Bank Logo 2021.svg
| logo_size =
| logo_size =
| logo_alt =
| logo_alt =
Line 17: Line 20:
| traded_as =
| traded_as =
| ISIN =
| ISIN =
| ISIN2 =
| industry =
| industry =
| genre =
| genre =
Line 23: Line 25:
| predecessor = <!-- or: | predecessors = -->
| predecessor = <!-- or: | predecessors = -->
| successor = <!-- or: | successors = -->
| successor = <!-- or: | successors = -->
| founded = <!-- if known: {{Start date and age|YYYY|MM|DD}} in [[city]], country -->
| founded = {{Start date and age|2005}} in [[Luxembourg]]
| founder = <!-- or: | founders = -->
| founder = <!-- or: | founders = -->
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
Line 31: Line 33:
| num_locations =
| num_locations =
| num_locations_year = <!-- Year of num_locations data (if known) -->
| num_locations_year = <!-- Year of num_locations data (if known) -->
| area_served = <!-- or: | areas_served = -->
| area_served = Europe
| key_people = Roland Ludwig, CEO
| key_people = Roland Ludwig, CEO
| products =
| products = Credit cards
| production =
| production =
| production_year = <!-- Year of production data (if known) -->
| production_year = <!-- Year of production data (if known) -->
Line 49: Line 51:
| equity =
| equity =
| equity_year = <!-- Year of equity data (if known) -->
| equity_year = <!-- Year of equity data (if known) -->
| owner = <!-- or: | owners = -->
| owner = [[Kistefos]]
| members =
| members =
| members_year = <!-- Year of members data (if known) -->
| members_year = <!-- Year of members data (if known) -->
Line 60: Line 62:
| ratio = <!-- Basel III ratio; used for banks only -->
| ratio = <!-- Basel III ratio; used for banks only -->
| rating = <!-- Credit rating; used for banks only -->
| rating = <!-- Credit rating; used for banks only -->
| website = <!-- {{URL|advanzia.com}} -->
| website = {{URL|advanzia.com}}
| footnotes = [https://www.advanzia.com/Reports/AdvanziaBankAnnualReport2021.pdf Annual Report 2021]
| footnotes =
}}
}}


'''Advanzia Bank''' is a European [[digital bank]] based in [[Munsbach]], [[Luxembourg]]. It offers no-fee [[Credit card|credit cards]] and deposit accounts for private customers. Its service portfolio also contains co-branded credit cards and charge cards for business partners and other [[Financial institution|financial institutions]], an area in which it is one of the largest actors in the market.<ref>{{cite web|access-date=2021-07-12|date=2020|language=en|publisher=Nielson Report|title=Top 150 Credit Card Portfolios Worldwide.|url=https://nilsonreport.com/mention/1310/1link/|archive-date=5 February 2023|archive-url=https://web.archive.org/web/20230205214922/https://nilsonreport.com/mention/1310/1link/|url-status=dead}}<!-- auto-translated by Module:CS1 translator --></ref> Advanzia Bank is subject to the supervision of Luxembourg’s national financial supervisory authority.
''' Advanzia Bank S.A''' was established in [[Luxembourg]] in 2005, subject to [[Commission de Surveillance du Secteur Financier|CSSF]] supervision, specializing in no-fee [[credit card]]s and euro savings accounts. The bank was established as a result of the former Founding Management of [[Santander Consumer Bank (Norway)|Bankia Bank]] seeking to establish an [[European Union|EU]]-based bank. This was accomplished with the previously largest shareholder of Bankia Bank, [[Kistefos]], becoming the largest shareholder of Advanzia Bank. Tor Erland Fyksen, Jan Grenth, Jan Halvorsen, and Eirik Holtedahl have together with Dr. Thomas Schlieper set up the bank, which has quickly become the largest issuer of international credit cards in [[Germany]].


== History ==
Under the umbrella of [[Europe]]an cross border banking regulations, Advanzia caters primarily to [[Luxembourg]]ish, [[Germany|German]], [[Austria]]n, [[Spain|Spanish]] and [[France|French]] clients. Within its first year of operations, the bank had become the largest Luxembourgish issuer of credit cards. Within two years of operations (2008), Advanzia had become the largest credit card provider in Germany in terms of transactions turnover value with its product Gebührenfrei MasterCard Gold, despite a general decline in the credit card market.<ref>{{cite web|url=http://pdf.marketpublishers.com/datamonitor/payment_cards_in_germany.pdf |title=Payment Cards in Germany |publisher=Datamonitor/MarketPublishers.com |date=June 2010 |archiveurl=https://web.archive.org/web/20131214223951/http://pdf.marketpublishers.com/datamonitor/payment_cards_in_germany.pdf |archivedate=14 December 2013 |accessdate=18 October 2016}}</ref><ref>{{cite web|url=http://www.datamonitor.com/store/Product/toc.aspx?productId=CM00141-004 |title=Payment Cards in Germany |publisher=Datamonitor |date=July 2011 |archiveurl=https://web.archive.org/web/20131214223218/http://www.datamonitor.com/store/Product/toc.aspx?productId=CM00141-004 |archivedate=14 December 2013 |accessdate=18 October 2016}}</ref>
Advanzia Bank was founded at the initiative of former founders of the Norwegian Bankia Bank ASA, a bank that was sold to Banco Santander in 2005.<ref>{{citation|date=2005-03-15|language=no|periodical=Nettavisen|title=Bankia Bank i spill}}</ref> The new company was issued a banking license by the [[Luxembourg Ministry of Finance]] in late 2005 and went on to launch its business operations in 2006. Advanzia Bank also entered the German market in the same year in a development seen as an example of the increasing competition between national and foreign financial institutions at that time.<ref>{{citation|date=2006-08-17|language=de|periodical=Wiesbadener Kurier|title=Advanzia mit vielen Fragezeichen.}}<!-- auto-translated by Module:CS1 translator --></ref><ref>{{citation|author=Horst Biallo, Marcus Preu|date=2006-08-20|language=de|pages=45|periodical=Welt am Sonntag|title=Konkurrenz aus dem Ausland.|type=Hohe Renditen mit trügerischer Sicherheit.}}<!-- auto-translated by Module:CS1 translator --></ref>


Ever since its formation, Advanzia Bank has been a digital or virtual bank with no physical branches.<ref>{{citation|author=Horst Biallo|date=2006-09-02|language=de|pages=31|periodical=Bonner General-Anzeiger|title=Ein Riese und ein Zwerg auf Kundenfang.}}<!-- auto-translated by Module:CS1 translator --></ref> It initially focused its activities on two products: a no-fee credit card and a deposit account as an investment option with an above-average [[interest rate]].<ref>{{citation|author=Steffen Preißler|date=2007-06-16|language=de|pages=20|periodical=Hamburger Abendblatt|title=Kreditkarten: Kostenlos oder gegen Gebühr – und wo die Tücken liegen.}}<!-- auto-translated by Module:CS1 translator --></ref><ref>{{citation|author=Horst Biallo, Helga Riedel|date=2006-07-27|language=de|pages=1|periodical=Frankfurter Neue Presse|title=Sparer freuen sich über steigende Zinsen.}}<!-- auto-translated by Module:CS1 translator --></ref> Both products attracted widespread media attention. Advanzia Bank overcame the 2007 global financial crisis without any major problems and went on to record its first profit in 2009.<ref>{{citation|author=Helmut Wyrwich|date=2010-07-20|language=de|periodical=Luxemburger Tageblatt|title=Advanzia Bank schreibt bestes Jahr ihrer Geschichte.}}<!-- auto-translated by Module:CS1 translator --></ref>
The bank made its first profits in 2009, with the [[2008 financial crisis]] being a significant contributor to lowering funding costs.<ref>{{cite web|url=http://www.modern-banking.de/z/adb.php |title=Zinshistorie zum Advanziakonto der Advanzia Bank S. A |publisher=Modern-banking.de |date= |accessdate=2013-10-02}}</ref> The current CEO is the [[Swiss people|Swiss]] citizen Roland Ludwig (since 2017).<ref>[https://www.advanzia.com/de-de/Seiten/Roland-Ludwig-wird-Nachfolger-von-Marc-Hentgen-als-CEO-der-Advanzia-Bank.aspx Roland Ludwig wird Nachfolger von Marc Hentgen als CEO der Advanzia Bank]</ref>


From 2010 onwards, Advanzia Bank set out to make its business activities more international. This approach was made possible thanks to a [[Directive (European Union)|European directive]] concerning the distance marketing of [[financial services]], i.e., banking without branches in the target markets. The bank launched operations in France in 2012, Austria in 2015, Spain in 2019 and Italy in 2021. In 2018/2019, Advanzia Bank acquired the credit card portfolio of the Swedish [[Catella Bank]].<ref>{{cite web|access-date=2021-07-12|date=2018-12-18|language=en|title=Advanzia Buys Credit Card Portfolio Worth up to €35 Million From Catella.|url=https://www.luxtimes.lu/en/business-finance/m-a-advanzia-buys-credit-card-portfolio-worth-up-to-35-million-from-catella-602d668bde135b9236a45ddd|website=Luxembourg Times}}<!-- auto-translated by Module:CS1 translator --></ref> Advanzia’s largest market is Germany, as confirmed by the number of issued credit cards.
The bank had 997.000 card holders and an after-tax profit of EUR 40 million in 2016.<ref>{{cite web |url=https://www.advanzia.com/About-us/Investor-Relations/ |title=Investor Relations - Facts and Figures |publisher=Advanzia Bank |date= |accessdate=2017-06-30 |archive-url=https://web.archive.org/web/20161220081038/https://www.advanzia.com/About-us/Investor-Relations/ |archive-date=2016-12-20 |url-status=dead }}</ref> This placed the bank among top 3% of Luxembourg banks in terms of profitability (45% return on own funds).<ref>{{cite web|url=http://www.kpmg.com/LU/en/IssuesAndInsights/Articlespublications/Documents/BanksInsights2014.pdf |title=Luxembourg Banks - Insights 2014 |publisher=KPMG |date=July 23, 2014 |accessdate=July 23, 2014}}</ref> By March 2021, the bank had 1.9 million card clients. And seems to have benefited from the contactless payment trend with Apple Pay and Google Pay, posting record profits in 2020 during the covid19 pandemic.<ref>{{cite web |url=https://paperjam.lu/article/100millions-benefice-advanzia- |title=100 millions de bénéfice pour Advanzia Bank|publisher=Paperjam |date= |accessdate=2021-05-12}}</ref>


Advanzia Bank rolled out mobile payments for its no-fee credit cards in 2020, for example via [[Google Pay (payment method)|Google Pay]]. In addition to issuing credit cards from Mastercard, the bank now also has a corresponding license from [[Visa Inc.|Visa]].<ref>{{cite web|access-date=2021-07-12|author=Claude Leguilloux|date=2019-09-16|language=fr|title=Advanzia Bank annonce son nouveau statut de membre principal de Visa pour l'émission de cartes de crédit.|url=https://www.boursier.com/actions/actualites/news/advanzia-bank-annonce-son-nouveau-statut-de-membre-principal-de-visa-pour-l-emission-de-cartes-de-credit-804847.html|website=Boursier}}<!-- auto-translated by Module:CS1 translator --></ref>
94% of the bank's credit card clients were located in Germany as of March 2017.<ref>{{cite web |url=https://www.advanzia.com/icc/c/About-us/Investor-Relations/ |title=Q1 2017 Report |publisher=Advanzia |date=May 11, 2017 |accessdate=July 1, 2017 |archive-url=https://web.archive.org/web/20180106064631/https://www.advanzia.com/icc/c/About-us/Investor-Relations/ |archive-date=January 6, 2018 |url-status=dead }}</ref>


== Corporate structure ==
3 years later, the bank had 1.7 mill. card holders, 88% being located in Germany.<ref>{{cite web |url=https://www.advanzia.com/en-gb/Pages/Advanzia-Bank-publishes-its-2019-financial-results.aspx/ |title=2019 Results |publisher=Advanzia |date=April 6, 2020 |accessdate=July 11, 2020}}</ref>
Advanzia Bank operates as a [[S.A. (corporation)|Société Anonyme]] (SA), a public limited company according to Luxembourg law. Its business purpose involves executing banking transactions, especially issuing credit cards, granting loans to credit card holders and handling cash deposits.<ref name="Advanzia Bank S.A.">{{cite web|access-date=2021-04-12|language=fr|publisher=Registre de Commerce et des Sociétés|title=Advanzia Bank S.A.|url=https://www.lbr.lu/}}<!-- auto-translated by Module:CS1 translator --></ref>


The company is subject to supervision of the [[Commission de Surveillance du Secteur Financier]] (CSSF), the supervisory authority of the Luxembourg financial sector. Advanzia Bank is a member of the Luxembourg Deposit Guarantee Fund (Fonds de garantie des dépôts Luxembourg, FGDL), which guarantees customer deposits up to a total of EUR 100,000 per person and institution.
⚫
==See also==

Advanzia Bank is owned by private investors. The majority of its shares, a total of about 60%, have been owned by Norwegian company [[Kistefos]] since 2006, and they list Advanzia bank as a consolidated business in their financial statements.<ref>{{cite web|access-date=2021-04-12|language=en|publisher=Kistefos Group|title=Financial Statements 2020|url=https://www.kistefos.no/wp-content/uploads/2021/03/Kistefos-Financial-Statements-2020.pdf|archive-date=16 July 2021|archive-url=https://web.archive.org/web/20210716130314/https://www.kistefos.no/wp-content/uploads/2021/03/Kistefos-Financial-Statements-2020.pdf|url-status=dead}}<!-- auto-translated by Module:CS1 translator --></ref> Bengt Arve Rem, Chief Executive Officer of Kistefos, is the Chairman of the [[Board of directors|Board of Directors]] of Advanzia Bank.

The Advanzia Bank Executive Management Committee consists of three members: Roland Ludwig ([[Chief executive officer|Chief Executive Officer]], CEO), Kaj Larsen ([[General counsel|General Counsel]]) and Patrick Thilges ([[Chief financial officer|Chief Financial Officer]], CFO).

== Products ==
Advanzia Bank’s business model is based on the provision of credit cards, which are in turn primarily financed by funds deposited in its deposit accounts.

Advanzia Bank offers its customers mainly [[Mastercard]] credit cards with no annual fees. Its cardholders also do not pay any fees for cash withdrawals or when using their credit card abroad. Purchases made with the credit card have an interest-free payment term with an optional revolving loan facility.

Advanzia Bank also issues credit cards for other companies, which personalise the cards with their brands to use them as [[customer loyalty]] tools. It additionally offers outsourcing for the charge cards of other financial institutions and private banks.{{cn|date=June 2023}}

⚫
== See also ==
* [[List of banks in Luxembourg]]
* [[List of banks in Luxembourg]]


== Notes and references ==
==References==
{{Reflist}}
{{Reflist}}


==External links==
* [https://www.advanzia.com/ Official website]
{{Banks of Luxembourg}}
{{Banks of Luxembourg}}


Latest revision as of 01:11, 22 June 2024

Advanzia Bank S.A.
Company typeprivate (Société Anonyme)
Founded2005; 20 years ago (2005) in Luxembourg
Headquarters
Munsbach
,
Luxembourg
Area served
Europe
Key people
Roland Ludwig, CEO
ProductsCredit cards
OwnerKistefos
Websiteadvanzia.com
Footnotes / references
Annual Report 2021

Advanzia Bank is a European digital bank based in Munsbach, Luxembourg. It offers no-fee credit cards and deposit accounts for private customers. Its service portfolio also contains co-branded credit cards and charge cards for business partners and other financial institutions, an area in which it is one of the largest actors in the market.[1] Advanzia Bank is subject to the supervision of Luxembourg’s national financial supervisory authority.

History

[edit]

Advanzia Bank was founded at the initiative of former founders of the Norwegian Bankia Bank ASA, a bank that was sold to Banco Santander in 2005.[2] The new company was issued a banking license by the Luxembourg Ministry of Finance in late 2005 and went on to launch its business operations in 2006. Advanzia Bank also entered the German market in the same year in a development seen as an example of the increasing competition between national and foreign financial institutions at that time.[3][4]

Ever since its formation, Advanzia Bank has been a digital or virtual bank with no physical branches.[5] It initially focused its activities on two products: a no-fee credit card and a deposit account as an investment option with an above-average interest rate.[6][7] Both products attracted widespread media attention. Advanzia Bank overcame the 2007 global financial crisis without any major problems and went on to record its first profit in 2009.[8]

From 2010 onwards, Advanzia Bank set out to make its business activities more international. This approach was made possible thanks to a European directive concerning the distance marketing of financial services, i.e., banking without branches in the target markets. The bank launched operations in France in 2012, Austria in 2015, Spain in 2019 and Italy in 2021. In 2018/2019, Advanzia Bank acquired the credit card portfolio of the Swedish Catella Bank.[9] Advanzia’s largest market is Germany, as confirmed by the number of issued credit cards.

Advanzia Bank rolled out mobile payments for its no-fee credit cards in 2020, for example via Google Pay. In addition to issuing credit cards from Mastercard, the bank now also has a corresponding license from Visa.[10]

Corporate structure

[edit]

Advanzia Bank operates as a Société Anonyme (SA), a public limited company according to Luxembourg law. Its business purpose involves executing banking transactions, especially issuing credit cards, granting loans to credit card holders and handling cash deposits.[11]

The company is subject to supervision of the Commission de Surveillance du Secteur Financier (CSSF), the supervisory authority of the Luxembourg financial sector. Advanzia Bank is a member of the Luxembourg Deposit Guarantee Fund (Fonds de garantie des dépôts Luxembourg, FGDL), which guarantees customer deposits up to a total of EUR 100,000 per person and institution.

Advanzia Bank is owned by private investors. The majority of its shares, a total of about 60%, have been owned by Norwegian company Kistefos since 2006, and they list Advanzia bank as a consolidated business in their financial statements.[12] Bengt Arve Rem, Chief Executive Officer of Kistefos, is the Chairman of the Board of Directors of Advanzia Bank.

The Advanzia Bank Executive Management Committee consists of three members: Roland Ludwig (Chief Executive Officer, CEO), Kaj Larsen (General Counsel) and Patrick Thilges (Chief Financial Officer, CFO).

Products

[edit]

Advanzia Bank’s business model is based on the provision of credit cards, which are in turn primarily financed by funds deposited in its deposit accounts.

Advanzia Bank offers its customers mainly Mastercard credit cards with no annual fees. Its cardholders also do not pay any fees for cash withdrawals or when using their credit card abroad. Purchases made with the credit card have an interest-free payment term with an optional revolving loan facility.

Advanzia Bank also issues credit cards for other companies, which personalise the cards with their brands to use them as customer loyalty tools. It additionally offers outsourcing for the charge cards of other financial institutions and private banks.[citation needed]

See also

[edit]

Notes and references

[edit]
  1. ^ "Top 150 Credit Card Portfolios Worldwide". Nielson Report. 2020. Archived from the original on 5 February 2023. Retrieved 12 July 2021.
  2. ^ "Bankia Bank i spill", Nettavisen (in Norwegian), 15 March 2005
  3. ^ "Advanzia mit vielen Fragezeichen.", Wiesbadener Kurier (in German), 17 August 2006
  4. ^ Horst Biallo, Marcus Preu (20 August 2006), "Konkurrenz aus dem Ausland.", Welt am Sonntag (Hohe Renditen mit trügerischer Sicherheit.) (in German), p. 45
  5. ^ Horst Biallo (2 September 2006), "Ein Riese und ein Zwerg auf Kundenfang.", Bonner General-Anzeiger (in German), p. 31
  6. ^ Steffen Preißler (16 June 2007), "Kreditkarten: Kostenlos oder gegen Gebühr – und wo die Tücken liegen.", Hamburger Abendblatt (in German), p. 20
  7. ^ Horst Biallo, Helga Riedel (27 July 2006), "Sparer freuen sich über steigende Zinsen.", Frankfurter Neue Presse (in German), p. 1
  8. ^ Helmut Wyrwich (20 July 2010), "Advanzia Bank schreibt bestes Jahr ihrer Geschichte.", Luxemburger Tageblatt (in German)
  9. ^ "Advanzia Buys Credit Card Portfolio Worth up to €35 Million From Catella". Luxembourg Times. 18 December 2018. Retrieved 12 July 2021.
  10. ^ Claude Leguilloux (16 September 2019). "Advanzia Bank annonce son nouveau statut de membre principal de Visa pour l'émission de cartes de crédit". Boursier (in French). Retrieved 12 July 2021.
  11. ^ "Advanzia Bank S.A." (in French). Registre de Commerce et des Sociétés. Retrieved 12 April 2021.
  12. ^ "Financial Statements 2020" (PDF). Kistefos Group. Archived from the original (PDF) on 16 July 2021. Retrieved 12 April 2021.
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Advanzia_Bank&oldid=1230317325"