Munsbach/Luxembourg, March 17, 2014
Advanzia focuses on doing business in way that is sustainable and scalable, which has enabled the bank to set new records in 2013. The bank has also been awarded the Corporate Social Responsibility (CSR) certification by the Institut National pour le Développement Durable et la Responsabilité Sociale des Entreprises (iNDR).
Overall, 2013 was a successful year for the bank: Earnings after tax rose by 63% to EUR 21.2 million, and the ROI increased to 34.3%. Ongoing optimisation has led to net credit volume growth of 23% to around EUR 500 million. The number of customers has also grown by 127,000 to 600,000, making Advanzia one of the largest banks in Luxembourg in terms of customer base.
“The result in 2013 showed once more that Advanzia has the capacity to make a highly profitable, stable and scalable business model work. The constant growth in core sectors motivates us to continue pursuing this approach, and to forge ahead with new business segments and strategies," explains Marc Hentgen, CEO of Advanzia Bank.
The bank's Board of Directors proposed the distribution of EUR 12 million to shareholders at the 2014 Annual General Meeting. The growth of the bank was underlined by an increase in headcount to 79 in 2013. Advanzia had a capital ratio (tier 1) of 16.1% and a balance sheet total of EUR 732.9 million at the end of the year.
Advanzia is synonymous for clear, cost-effective products which are based on their corporate values of transparency, simplicity and trust. The bank will carry forward its growth strategy in Germany and Luxembourg into 2014, and expects to repeat its results of previous years. In France, the focus remains on optimisation of processes and overall results.
In 2014, Advanzia will target sales of credit cards via the internet and sales agents, with the main focus on reaching the relevant target audience and communicating the product's benefits in a transparent and convincing manner.