MERKUR PRIVATBANK KGaA is an owner-managed listed

German German(s) may refer to: * Germany (of or related to) ** Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ge ...

private bank Private banks are banks owned by either the individual or a general Partner (business rank), partner(s) with limited partner(s). Private banks are not incorporation (business), incorporated. In any such case, creditors can look to both the "enti ...

with headquarters in

Munich Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the third-largest city in Germany, after Berlin and Ha ...

History

In 1959 Zanwel Horowicz as well as Motek and Hela Horowicz founded Merkur Bank Horowicz KG in

, which at that time was mainly limited to the sale of

medals A medal or medallion is a small portable artistic object, a thin disc, normally of metal, carrying a design, usually on both sides. They typically have a commemorative purpose of some kind, and many are presented as awards. They may be int ...

and

currencies A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general def ...

. In 1986 a group of investors led by Siegfried Lingel took over the Merkur Bank Horowicz KG and rebranded it to MERKUR BANK GmbH & Co. KG. At the same time, MERKUR BANK GmbH & Co. KG began universal banking business with the main focus on property development financing, and in 1991 opened its first branches in

Vogtland Vogtland (; cz, Fojtsko) is a region spanning the German states of Bavaria, Saxony and Thuringia and north-western Bohemia in the Czech Republic. It overlaps with and is largely contained within Euregio Egrensis. The name alludes to the former ...

Saxony Saxony (german: Sachsen ; Upper Saxon: ''Saggsn''; hsb, Sakska), officially the Free State of Saxony (german: Freistaat Sachsen, links=no ; Upper Saxon: ''Freischdaad Saggsn''; hsb, Swobodny stat Sakska, links=no), is a landlocked state of ...

and

Thuringia Thuringia (; german: Thüringen ), officially the Free State of Thuringia ( ), is a state of central Germany, covering , the sixth smallest of the sixteen German states. It has a population of about 2.1 million. Erfurt is the capital and lar ...

. The service portfolio was expanded to include leasing refinancing in 1995. As part of the

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

in 1999 at the Munich Stock Exchange, MERKUR BANK GmbH & Co. KG became MERKUR BANK KGaA. The generational change began in 2002, when Marcus Lingel was appointed to the extended management of MERKUR BANK KGaA as General Manager alongside management member Claus Herrmann. Following the departure of Siegfried Lingel, Marcus Lingel then took over as Chairman of the General Management of MERKUR BANK KGaA in 2008. In addition, however, he has continued to act as a personally liable partner of MERKUR BANK KGaA since October 2005, alongside his father Siegfried Lingel. The business area of investment and financing for entrepreneurial investors was first established in 2016 and since the acquisition of the German Bankhaus Schilling & Co in 2019, has been a fundamental part of the banking business, especially for high net worth individuals.

Business takeover of Bank Schilling & Co. AG

In October 2019, MERKUR BANK took over significant parts of the banking business from the German bank Schilling & Co. and has since been operating under the new brand name of MERKUR PRIVATBANK.

Private clients

In addition to asset management in

private banking Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...

, MERKUR PRIVATBANK also focuses on the sector of securities and interest rate investments and private accounts.

Business clients

The MERKUR PRIVATBANK focuses on the financing of medium-sized companies, property developers and leasing refinancing, as well as the provision of business accounts.

Deposit guarantee

For the MERKUR PRIVATBANK KGaA, the legal deposit guarantee of up to 100,000 euros per person is covered by the ''Entschädigungseinrichtung deutscher Banken GmbH, EdB'' (compensatory fund of German banks). In addition to this the bank is a member of the deposit guarantee fund of the

Association of German Banks The Association of German Banks (german: Bundesverband deutscher Banken) is the association of private banks in Germany and a key lobby group for Germany's financial sector. In the traditional 3-pillar system of the German banking industry, this r ...

. The fund secures deposits of natural persons and private charities which exceed 100,000 euros, per person an amount of up to 20 percent of the liable equity of the respective bank. In the case of the MERKUR PRIVATBANK KGaA the backup line amounts to 22 million euros per customer.

Core banking system

The MERKUR PRIVATBANK is connected to the cooperative computer centre of Fiducia & GAD IT in

Karlsruhe Karlsruhe ( , , ; South Franconian: ''Kallsruh'') is the third-largest city of the German state (''Land'') of Baden-Württemberg after its capital of Stuttgart and Mannheim, and the 22nd-largest city in the nation, with 308,436 inhabitants. ...

and uses their banking software agree21.

References

External links

Official Website MERKUR PRIVATBANK
{{Authority control Banks established in 1959 Banks of Germany Financial services companies based in Munich