Greensill Bank
| Greensill Bank AG | |
|---|---|
|
|
| Country |
 Germany
|
| Seat | Bremen |
| legal form | Corporation |
| Bank code | 290 202 00 |
| BIC | NFHB DE21 XXX |
| founding | 1927 |
| Business data 2017 | |
| Total assets | 337.5 million euros |
| insoles | 292.7 million euros |
| Customer credit | 234 million euros |
| Employee | 71 |
| Offices | 1 |
| management | |
| Board | Markus Nünnerich (CEO) Ann-Christin Rathjen Ingo Schwartz |
| Supervisory board | Maurice Thompson (Chairman) |
The Greensill Bank AG is a private German bank in the legal form of a joint stock company based in Bremen . It operated under the name NordFinanz Bank AG until October 2014 and was founded in the Hanseatic City of Bremen in 1927. Today it mainly operates the deposit business and the financing of working capital .
history
Greensill Bank since 2014
At the beginning of 2014, the British investment company Greensill Capital Ltd. (UK) based in London 80% of the shares in NordFinanz Bank AG. In October 2014, the name was changed from NordFinanz Bank AG to Greensill Bank AG. In the course of this name change, the business model was also realigned. Instead of traditional financial products, the deposit and factoring / reverse factoring business was accelerated and expanded. The balance sheet total in 2018 was EUR 665 million. Greensill Capital (UK) Ltd. 100% stake in Greensill Bank AG was transferred to Greensill Capital Pty Limited, Australia (GCAU) on December 14, 2018.
With its business model within the Greensill Group, Greensill Bank AG is now concentrating on partial refinancing for individual commitments from the Group's business areas, which are mainly located in the Working Capital Solutions business area.
The bank until 2014
NordFinanz Bank AG (NF Bank for short) was a private German credit institute that operated until October 2014. [1]
It was founded in 1927 with the purpose of the company to take over the financing of "... vehicles and means of transport as well as ... at the discretion of the supervisory board of all related business." [2]
According to the articles of association dated July 22, 1927, the share capital was 200,000 RM The following acted as shareholders of the stock corporation:
Dr.jur.et rer. pole. Friedrich Georg Johannes Müller
Director Edmund Karl Emil Louis Rehrkorn
Merchant Johannes Tilman Gromme
Lawyer Dr. Otto Meyer
Banker Hermann Diedrich Leverenz
The supervisory board was formed by:
Bank director Karl Theodor Arnold from Oldenburg
Director Carl-Julius Johannes Brabant
Bank director Alfons Eßlinger
Businessman Christoph Johannes Baßmer
Businessman Alfred Meyer [3]
It was founded during the Weimar Republic and took place after the great inflation . Details about the post-founding period and the people involved are difficult to determine today.
In 1938, the Nordfinanz Bank of the same name was founded in Zurich in Switzerland, which had no connection with the Bremen Institute. [4]
Whose banking business was incorporated in 1964 by Scandinavian commercial banks again and continued in Zurich until 1995, it was approved by the Swiss private bank Union Bancaire Privée bought [5] and continued as an asset management bank even by 2002. [6]
Bremer NordFinanz Bank AG developed a new business activity after the currency reform in 1948 and was mainly involved in the consumer credit business.
| year | event |
| 1956 | Takeover of the shares by Sparkasse Bremen and Bremer Landesbank
Increase in share capital to 500,000 D-Marks |
| 1962 | Acquisition of shares in Botek Bank - later the bank was taken over |
| 1964 | Expansion of activities Incorporation of the factoring business area |
| 1971 | Outsourcing of the factoring business field and establishment of the factoring bank in cooperation with the giro centers |
| 1973 | Increase in share capital to 5,000,000 Deutschmarks |
| 1977 | 50th anniversary of NordFinanz Bank AG, total assets 211,000,000 D-Mark and 120 employees |
| 1980 | Exit from the factoring bank and sale of the shares held to the Girozentralen. The factoring bank still operates under the name Deutsche Factoring Bank AG today |
| 1984 | Foundation of NF Leasing GmbH by NF AG - transfer of the leasing business previously carried out by the bank to the GmbH. Balance sheet total of NF Leasing GmbH 63 million D-Mark |
| 1988 | Sparkasse Bremen and Bremer Landesbank part with their shares and sell the bank to the investor Magnus v. Kühlmann and HC Finanz und Beteiligungs AG Luzern; Increase in share capital to 7,000,000 Deutschmarks [7] [8] |
| 1989 | 100% takeover of NordFinanz Bank AG by Wünsche AG from Hamburg
Opening of a branch in Munich - Thus the bank has branches in Bremen, Hamburg, Hanover, Oldenburg and Munich [9] |
| 1994 | Takeover of the bank by the investor Benedict Symeonidis for 38 million D-Mark [10]
Mention of the branch in Leipzig |
| 1996 | Takeover of the bank by several private investors (Mr. and Mrs. Nölle; Mr. Borttscheller, Mr. Gauss and Mr. and Mrs. Kern) [11] [12] |
| 2000 | Majority stake of Garant Schuh + Mode AG in NF AG
Opening of a branch in Düsseldorf [13] |
| 2007 | Eclear from Great Britain becomes the new owner of NF Bank AG AG |
| 2010 | NF AG is sold to Hawk Finance
Re-inclusion of the factoring business field [17] |
| 2014 | As part of a bank restructuring, Greensill Capital UK takes an 80% stake in the bank
Realignment of the business fields; Focus on factoring Sale of NF-Leasing to Nürnberger Leasing |
[1] Search in the commercial register of the Bremen District Court HRB 4088 at http://www.handelsregister.de
[2] "Bremer Nachrichten" from August 21, 1927
[3] "Bremer Nachrichten" from August 21, 1927
[4] NORDFINANZ BANK ZURICH . In: moneyhouse, commercial register and company data, accessed on November 28, 2010
[5] Thomson Reuters on November 30, 1995
[6] NORDFINANZ BANK ZURICH . In: moneyhouse, commercial register and company data, accessed on November 28, 2010
[7] " Hamburger Abendblatt " of July 6, 1988, p. 25.
[8] Research at https://www.aktien.net/allgemeine-informationen-ueber-die-greensill-bank/
[9] " Weser Kurier " from July 22, 1994
[10] "Weser Kurier" from July 27, 1994
[11] "Weser Kurier" from July 27, 1996
[12] " NF Bank sold ". In: Taz .com 26 May 2008, accessed on December 1 of 2010.
[13] " Die Welt " from 02.12.2000
[14] "Weser Kurier" from July 30, 2008
[15] "Weser Kurier" from May 24, 2008
[16] Annual Report 2008 ( Memento of the original dated February 2, 2014 in the Internet Archive )
[17] "Weser Kurier" from September 24, 2010
Business activity
Business since 2014
With the change of name from NordFinanz Bank AG to Greensill Bank AG, the business orientation of the institute also changed. Equipped with a full banking license, the bank focuses on the deposit business and the financing of corporate supply chains (supply chain finance). [1] As part of the deposit business, the bank focuses on short- and medium-term time deposits (fixed-term deposits) that offer private customers investment opportunities in EUR and USD. [2]
Another pillar is the purchase of different types of receivables that arise in the supply chains of companies. The supply chain finance and working capital solutions business is operated jointly with the Greensill Group. [3] When it comes to financing working capital, the Greensill Group is one of the global market leaders as a provider of such solutions. [4]
With this strategy, Greensill Bank AG was able to grow in the period from 2014-2019 and significantly increase its balance sheet total and number of employees. [5]
[1] https://www.finanzen.net/nachricht/etf/diese-deutsche-bank-schwimm-gegen-den-strom-0-90-zinsen-pa-fuer-1-jaehriges-festgeld-8267089 (EVENT IMAGE)
[2] Research at https://www.greensill-bank.com/interest-rates-german/
[3] https://legalcareers.de/news_entries/2257-noerr-berat-greensill-bank-ag-in-haben-auf-usd-20-mrd-notes-programm
[4] Research at https://www.greensill.com/what-we-do/
[5] Research at http://www.bundesanzeiger.de
Business activity until 2014
Nord Finanz AG, founded in 1927, was initially active in the field of vehicle financing. After the Second World War, the bank changed and expanded its business towards consumer credit. In 1964 the factoring business was added; further business fields followed. In 1989 the bank had a full banking license (with the exception of securities, custody and investment business).
In 1995 the bank's total assets tripled within five years and equity doubled. The main fields of business at this time were short and medium-term investment loans for medium-sized companies, the leasing business in the area of machines and motor vehicles, and consumer loans. The banking business was financed through above-average interest-bearing deposits from private customers. [1]
The numerous changes of ownership after 1995 and the general changes in the banking environment ultimately led to 80% of the bank shares being taken over by Greensill Capital UK in 2014 and the name Nord Finanz Bank AG finally disappearing as part of a restructuring of the loss-making bank.
In the strategy of the new shareholders established in June 2014, all old products were transferred to a liquidation portfolio and the business of the three subsidiaries NF-Leasing GmbH, NF-Vermögensverwaltung GmbH and JT Beteiligungs-GmbH, all based in Bremen, were consolidated. Active market development for all old products has not taken place since the beginning of 2014. The nationwide offices had to be closed before 2014
Today the former NordFinanz Bank AG is 100% owned by the Greensill Group and operates under the name Greensill Bank AG.
With its business model within the Greensill Group, Greensill Bank AG is now concentrating on partial refinancing for individual commitments from the Group's business areas, which are mainly located in the Working Capital Solutions business area. [2]
[1] "Weser Kurier" from April 21, 1995
[2] What We Do. Retrieved March 18, 2019 (American English).
Key figures
| Fiscal year | 2019 | 2018 | 2017 |
| Total assets | EUR 665 million | EUR 337 million | |
| Employee | 61 | 58 | |
| Equity * | EUR 72 million | EUR 33 million |
* including subordinated liabilities and their accrued interest Shareholder structure.
Branches
Greensill Bank AG did not have any legally dependent or independent branches in the 2018 financial year. In the past, the bank had branches under the name NordFinanz Bank AG in Hamburg, Hanover, Düsseldorf, Munich, Leipzig and Oldenburg, which were gradually closed in the years before 2014.
Memberships
The bank is part of the Association of German Banks. V., Berlin, and the Auditing Association of German Banks e. V., Cologne, and thus affiliated to the deposit protection fund. The bank is also a member of the Vereinigung für Bankbetriebsorganisation e. V. (vbo), Frankfurt and the German Factoring Association, Berlin.
technology
Greensill Bank AG is connected to the cooperative data center of Fiducia & GAD IT and uses their software agree21 as the core banking system .
Web links
- Greensill Bank AG website
- Greensill Bank in the BaFin company database
Individual evidence
- ↑ a b Master data of the credit institute at the Deutsche Bundesbank
- ↑ Annual financial statements as of December 31, 2012 in the Federal Gazette , research at http://www.bundesanzeiger.de/
- ↑ Research in the commercial register of the Bremen District Court HRB 4088 at http://www.handelsregister.de
- ↑ What We Do. Retrieved March 18, 2019 (American English)
- ↑ thebanks.eu
- ↑ Federal Gazette
- ↑ Commercial register of the Bremen District Court HRB 4088 under [1]
- ↑ What We Do. Retrieved March 18, 2019 (English)
- ↑ a b c research at http://www.bundesanzeiger.de
Coordinates: 53 ° 4 ′ 39.1 ″ N , 8 ° 48 ′ 7.6 ″ E