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1. The bank was established more than 60 years ago.
2. Full licensed allow the bank to offer a full suite of product and services covering regulated financial activities such as deposit taking, securities dealing, assets management, e-money/credit card services etc.., without the need to apply for new permissions.
3. Access to global multi-currency correspondent clearing network.
4. Robust Core Banking/IT systems with all relevant procedures/policies are in place.
5. The bank has all the relevant staffs in place and in accordance to BaFin requirements.
6. There are no other branches except one office on short-term lease with all the requirements to operate as a bank in place.
7. The bank has a clean client record with no open or unresolved legal issues.
8. With some structuring, Asian clients can be onboarded to the bank.
9. The bank is in line with Basel III requirements with Tier 1 capital at EUR7.9 million as of 31st December 2019.
10. Purchase is for a majority stake >95% of the holdings.
11. Purchase price includes the recommended capital injection.
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.