Advanzia Bank acquires bank card servicing operations of Catella Bank in Luxembourg

en

Advanzia Bank S.A, a European online direct bank specialising in credit cards and payment solutions, has agreed to acquire the credit card servicing portfolio for private banks of Catella Bank S.A. This portfolio acquisition positions Advanzia Bank as a leading provider of credit card solutions for private banks.

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The Catella deal adds over 65 partner banks to Advanzia’s existing portfolio of banks and financial institutions. Through this acquisition, Advanzia will significantly expand its geographical reach, servicing banks in 12 countries. Both parties are committed to ensuring a quick and seamless integration of customers and partner banks as well as employees – the transaction includes the transfer of a number of Catella employees who will join Advanzia’s 157 staff at the date of transaction closing. 

Roland Ludwig, CEO of Advanzia, comments: “This deal underlines our aim to become a leading provider of credit card solutions. During 2018, Advanzia’s credit card portfolio experienced considerable organic growth with the addition of over 300 000 new customers. By acquiring Catella’s card servicing operations, we significantly increase market share for our Omnium business line and strengthen our position as a trustworthy partner for turnkey credit card solutions for private banks and financial institutions.”

Knut Pedersen, CEO of Catella Group adds: “Throughout the process it has been important to find a counterparty who can understand and meet our customers’ demands. Catella chose to divest this part of the portfolio to Advanzia because they are a strong and credible actor in the credit card solutions market, and I believe they will continue to provide a first-class service to our customers.”

This is Advanzia’s second acquisition, following the 2017 purchase of the My Money Bank loan portfolio in France, which significantly strengthened the company’s position in the French credit card market.

The closing of the asset deal is scheduled for March 2019.

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