Varengold Bank
| Varengold Bank AG | |
|---|---|
|
|
| Country |
 Germany
|
| Seat | Hamburg |
| legal form | Corporation |
| ISIN | DE0005479307 |
| Bank code | 200 301 33 |
| BIC | VGAG DEHH XXX |
| founding | 1995 |
| Website | www.varengold.de |
| Business data 2019 | |
| Total assets | 707,329,000 euros |
| Employee | approx. 80 (as of 6/2020) |
| Offices | Hamburg, Berlin, London (UK) and Sofia (Bulgaria) |
| management | |
| Board | Bernhard Fuhrmann Frank Otten |
| Supervisory board | Karl-Heinz Lemnitzer (Chairman) Vasil Stefanov (Deputy), Francesco Filia |
The Varengold Bank AG is a German bank , which in 1995 Hamburg was founded and beyond has offices in Berlin, London and Sofia.
Business areas
In the Marketplace Banking division, the bank supports online marketplaces that deal with the financing of companies and consumers (peer-to-peer platforms). Varengold finances the rapid growth of FinTechs and provides them with products that require banking licenses (Fronting Services). In the Transaction Banking / Commercial Banking division, the bank provides foreign trade-oriented customers with basic products such as account relationships and international payment transactions. The bank also has a customer base for trade finance transactions (e.g. guarantees or letters of credit).
Varengold Bank AG is registered with the Federal Financial Supervisory Authority under No. 109520 and is linked to the Compensation Scheme of German Banks (EdB). The Varengold share (symbol VG8) is listed on the Freiverkehr / Open Market of the Frankfurt Stock Exchange.
history
Varengold was founded in 1995 by, among others, Yasin Sebastian Qureshi and Steffen Fix as an asset management boutique. Since the company was founded, the focus of business activity has initially been on derivatives brokerage and services in the field of alternative investments .
In 1998 Varengold received a credit institute license from what was then the Federal Banking Supervisory Office . The bank has been registered with the Federal Financial Supervisory Authority since 2003 ; in June 2013 Varengold was granted the license as a deposit-taking credit institution.
Since March 20, 2007, the Varengold share has been listed on the open market of Deutsche Börse Frankfurt in the Entry Standard market segment . When the Entry Standard was discontinued on March 1, 2017, she switched to the Basic Board .
criticism
The Jerusalem Post reported in October 2018 that Varengold was said to be still doing business with Iran at the time, despite US sanctions .
The Varengold investment subsidiary was involved in Cum-Ex transactions. Possible receivables in the high double-digit millions are still a burden on the bank's balance sheets (as of 2018). The Cologne public prosecutor's office is investigating the former Varengold officials for tax evasion in a particularly serious case.
In August 2020, the credit house was searched by investigators due to the Cum-Ex investigation.
Web links
- www.varengold.de
- Varengold Bank in the BaFin company database
Individual evidence
- ↑ a b Master data of the credit institute at the Deutsche Bundesbank
- ↑ Annual Report 2019 of Varengold Bank AG, https://www.varengold.de/fileadmin/user_upload/Home/Investor_Relations/Geschaeftsberichte/DE/202006_Varengold_Bank_AG_Geschaeftsbericht_2019_VOE.pdf
- ↑ Even closer to the customer: Varengold Bank opens FinTech Hub in Berlin. Retrieved August 27, 2020 .
- ↑ http://www.dgap.de/dgap/News/adhoc/varengold-bank-einnahme-das-basic-board/?newsID=987085
- ↑ German bank holds account for soon-to-be-sanctioned Iran Air. On: jpost.com from October 24, 2018, last accessed on December 20, 2018
- ↑ Massimo Bognanni: "Cum-Ex" scandal. Error in the test system? tagesschau.de, February 24, 2019
- ↑ The uncanny power of advisors. Retrieved February 27, 2019 .
- ↑ Cum-Ex scandal: Varengold Bank in Hamburg searched. In: NDR. Retrieved August 27, 2020 .
Coordinates: 53 ° 32 ′ 39.7 ″ N , 9 ° 57 ′ 1 ″ E