Munsbach/Luxembourg, March 23, 2015
Advanzia Bank ended 2014 on another record high, and increased its earnings after tax by 30% to EUR 27.7 million, with ROI rising to 39%. In addition, 2014 was an important year for Advanzia in terms of further diversification and expansion of the bank.
At present, Advanzia offers its products in Luxembourg, Germany and France. A market launch in Austria is in the pipeline. This market is attractive because of its potential for revolving credit card accounts, and the high level of harmonisation with the German market.
Advanzia has also offered credit card services for partner banks throughout Europe since 2014, and now provides these banks with customised card solutions. The first contracts with partner banks in Luxembourg have already been signed. “Overall, 2014 was a successful year for the bank: Earnings rose again, and new business segments and strategies were developed. In 2015, the bank's focus will be on expanding the French market," explains Marc Hentgen, CEO of Advanzia Bank.
Alongside earnings, Advanzia also succeeded in increasing the net credit volume by 21% to EUR 605.5 million. The number of customers similarly grew by 130,000 to more than 730,000, making Advanzia one of the largest banks in Luxembourg in relation to customer base, and one of the fastest-growing credit card issuers in Germany.
The growth of the bank was underlined by an increase in headcount to 86 in 2014. Advanzia had a capital ratio (tier 1) of 12.2% and a balance sheet total of EUR 729 million at the end of the year.