The bank in Germany for sale is under the regulation of the Deutsche Bundesbank and Bundesanstalt fur Finanzdienstleistungsaufsicht BaFin (this is a supervisor for 2,700 banks and 800 financial institutions).
It is unlikely that Deutsche Bundesbank and BaFin will approve the new banking license application.
Operating in the EU allows products and services of the bank to be introduced to 27 member states.
Bank in Germany for sale: details of this transaction
The bank in Germany for sale:
- Was founded over 60 years ago.
- Having obtained a full license, the bank has a permit for offering a full range of products and services that include but are not limited to deposit-taking, securities dealing, assets management, digital money/credit card services, etc., without the necessity to apply for new permits.
- Has access to a worldwide multi-currency correspondent clearing network.
- Has robust, and versatile Financial Core Solutions that incorporate the best practices of the international financial market. All relevant procedures/policies are in place.
- Is fully staffed in accordance with BaFin rules.
- Operates from one leased office with maintained requirements to operate as a banking institution.
- Has no in-progress or unresolved legal issues.
- Can onboard Asian clients after doing some structuring.
- The bank complies with Basel III requirements with Tier 1 capital at EUR7.9 million as of 31st December 2019.
- Offered for sale a majority stake which comprises more than 95% of the holdings.
- The asking price includes the recommended capital injection.
Asking price: on request.
Details: nick.b@eternitylaw.com / Telegram: @beihuln
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