Noa bank

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  noa bank
logo
Country GermanyGermany Germany
Seat Dusseldorf
legal form GmbH & Co. KG
founding August 2009
Business dataTemplate: Infobox credit institute / maintenance / data out of dateTemplate: Infobox credit institute / maintenance / year missing
Total assets 179 million euros
Offices 2 (Frankfurt am Main, Düsseldorf )
management
Corporate management

Burkhard Brenig ( Managing Director Back Office), Wilfried Klein (Managing Director, Market)

Template: Infobox_Kreditinstitut / Maintenance / ID is missing

The noa Bank was a German private and corporate bank in the legal form of a limited partnership . It appeared on the market as an ecologically and ethically oriented direct bank.

Among the products included current accounts and savings accounts and fixed deposit account . Current account customers in the Eurozone could use ATMs free of charge with the credit card belonging to the current account.

On August 18, 2010, BaFin imposed a moratorium , i.e. a ban on sale and payment, because noa Factoring AG, which belongs to the group, had to file for bankruptcy. On September 8, 2010, BaFin revoked the banking license of noa Verwaltungs-GmbH as the personally liable partner of noa bank GmbH & Co. KG with immediate effect. On October 1, 2010, the Düsseldorf District Court opened insolvency proceedings.

founding

The company was founded in August 2009 by François Jozic and Frédéric Lodewyk with equity of EUR 5.6 million; the former Bankhaus Zwirn GmbH & Co. KG , which they acquired in June 2009, served as the shell company . The two owners had previously gained experience in financing medium-sized companies as founders of the factoring service provider Quorum AG . The management consisted of Wilfried Klein as managing director of the market and Burkhard Brenig in the field of market monitoring . Thanks to the continuing full banking license of the bank Zwirn, the customer business could already start in November 2009.

philosophy

The company presented itself with a philosophy that is unusual for a profit-oriented private bank . So the company rejected any kind of speculative business and wanted to concentrate solely on the credit business. In addition, according to the company, only "sustainably operating" small and medium-sized companies in the real economy should be financed.

Retail clients could choose one of several areas in which their deposits would be invested; at noa bank these were called “region”, “planet”, “life” and “culture”. The company also advertised with an unusual degree of transparency, to which the intensive use of Web 2.0 media should also contribute. The founder and owner François Jozic communicates via Twitter , YouTube , Facebook and on his own blog .

safety

Since the bank was not a member of a German deposit protection fund , private customer deposits were only covered up to an amount of 50,000 euros through the statutory membership in the compensation scheme of German banks . According to the Frankfurter Allgemeine Zeitung , noa bank, with equity of EUR 5.6 million, only had “a very thin foundation”. To increase equity by a further 5 million euros, noa bank issued subordinated profit participation rights as part of the Citizen Partner program , through which customers who believed in the company's success could participate without voting rights.

Ban on the allocation of fixed deposits and the acceptance of overnight deposits

The BaFin had temporarily new lending and accepting customer deposits on 24 June 2010. regulatory prohibited. By lowering the interest rate for overnight money - to 1.50% on July 11, 2010 and to 0.75% on August 15, 2010 - the bank tried to get rid of customer deposits in a targeted manner in order to achieve the equity ratio required by BaFin more quickly.

Bank closure

The BaFin imposed on 18 August 2010, a moratorium , so a sale and payment prohibition against noa banking. In addition, BaFin has ordered to close the bank for the marketing of the clientele and the Institute forbidden to accept payments that are not to repay are determined by debts to him. This means that all accounts of noa bank customers were blocked - according to BaFin, to protect the funds from being withdrawn abroad.

The BaFin presented August 25, 2010 set the compensation case, so that the legal requirements for compensation of investors were given. According to BaFin, the compensation facility of German banks will now contact the noa bank victims in order to regulate the payment modalities.

The Düsseldorf District Court opened insolvency proceedings on October 1, 2010 and appointed the attorney Wolf-Rüdiger von der Fecht as the insolvency administrator.

Individual evidence

  1. ↑ BaFin press release: BaFin determines the compensation case for noa bank GmbH & Co. KG, files for insolvency and revokes permission ( memento of the original dated February 21, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.bafin.de
  2. ↑ Archived copy ( memento of the original dated February 1, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.noabank.de
  3. ^ Structure of the noa bank ( memento of March 5, 2010 in the Internet Archive ), accessed on August 3, 2010
  4. ↑ Criticism of Noa Bank: stains on the green vest ( Memento of the original from April 13, 2010 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. in sueddeutsche.de from April 8, 2010 @1@ 2Template: Webachiv / IABot / www.sueddeutsche.de
  5. ^ A b Mareike Sowa: Another clean credit institute ( memento from March 12, 2010 in the Internet Archive ) in Financial Times Germany from December 18, 2009
  6. ↑ noa bank started with web 2.0 marketing
  7. ↑ Christian Kemper: A new bank is taking on the fight against the credit crunch ( Memento from February 9, 2010 in the Internet Archive ) in Handelsblatt from November 16, 2009.
  8. ^ Information on noa bank GmbH & Co. KG , accessed on January 13, 2010.
  9. ^ Mistrust in banks as a business idea ( memento from January 31, 2010 in the Internet Archive ) in Frankfurter Allgemeine Zeitung from November 6, 2009.
  10. ↑ Financial supervision BaFin: Business ban for Noa-Bank ( Memento of July 29, 2010 in the Internet Archive ), Financial Times Deutschland, July 27, 2010
  11. ↑ Tagesgeld News: Interest rate cut to lower equity , Tagesgeld News, August 17, 2010
  12. ↑ BaFin orders moratorium on noa bank GmbH & Co. KG , Bafin.de, August 18, 2010
  13. ↑ Tagesgeld News - BaFin imposes a moratorium on NOA Bank , Tagesgeld News, August 18, 2010
  14. ↑ BaFin determines the compensation case for noa bank GmbH & Co. KG, files for insolvency and revokes permission ( memento of the original dated February 21, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , BaFin, August 25, 2010 @1@ 2Template: Webachiv / IABot / www.bafin.de
  15. ↑ Girokonto, Tagesgeld und Zeitgeld News - BaFin determines compensation case , Girokonto, Tagesgeld und Zeitgeld News, 25 August 2010
  16. ^ NOA Bank Customers - Compensation started , Tagesgeld-News, August 25, 2010