Advanzia Bank SA
Advanzia Bank S. A. is a new Luxembourg bank which offers two products: deposit accounts to a limited number of clients and a large volume of credit cards issued in the euro area, targeting Luxembourg and Germany as the first markets.
Advanzia will be a virtual bank without any branch services, and customers will communicate with the bank mainly via Internet, post, fax or call centres. As a niche bank, Advanzia will not be a main bank for its clients, as it will not offer current accounts, debit cards, mortgage loans, etc. but rather be the customers’ auxiliary bank offering certain specialised services with the best terms. The bank’s headquarter is located in Luxembourg due to the central location within the EU. Advanzia Bank S.A. has received a banking license from the Finance Ministry of Luxembourg.
Advanzia Bank S.A. was founded as a Luxembourg company in 2005 with committed financing of EUR 23 mill. to cover statutory capital requirements for the bank in operation. Lead investor is Kistefos AS, whereas Skips AS Tudor, Selvaag Invest and Sundt AS are other large investors.
from:www.kistefos.no
