Merkur Privatbank is a German

private bank Private banks are banks owned by either the individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, creditors can look to both the "entirety of the bank's assets" as well as the entire ...

with headquarters in

Munich Munich is the capital and most populous city of Bavaria, Germany. As of 30 November 2024, its population was 1,604,384, making it the third-largest city in Germany after Berlin and Hamburg. Munich is the largest city in Germany that is no ...

that is owner-managed.

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 in ...

and

currencies A currency is a standardization of money in any form, in use or currency in circulation, circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use wi ...

. 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 (; ) 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 Euroregio Egrensis. The name alludes to the former leadershi ...

Saxony Saxony, officially the Free State of Saxony, is a landlocked state of Germany, bordering the states of Brandenburg, Saxony-Anhalt, Thuringia, and Bavaria, as well as the countries of Poland and the Czech Republic. Its capital is Dresden, and ...

and

Thuringia Thuringia (; officially the Free State of Thuringia, ) is one of Germany, Germany's 16 States of Germany, states. With 2.1 million people, it is 12th-largest by population, and with 16,171 square kilometers, it is 11th-largest in area. Er ...

. 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 individual In the financial services industry, a high-net-worth individual (HNWI) is a person who maintains liquid assets at or above a certain threshold. Typically the criterion is that the person's financial assets (excluding their primary residence) are ...

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.

Clients

Private clients

In addition to asset management in

private banking Private banking is a general description for banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs) – those with very high income or substantial asset ...

, 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 (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 ''Bundesverband deutscher Banken'' (BdB, also branded as Bankenverband and in English as Association of German Banks) is the representative body of profit-oriented banks in Germany and a key lobby group for Germany's financial sector. The Bd ...

. 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 Atruvia AG is the IT service provider of the German Cooperative Financial Group. The company based in Karlsruhe and Münster with further offices in Munich, Frankfurt and Berlin employs currently more than 4,600 staff (more than 6,700 including s ...

Karlsruhe Karlsruhe ( ; ; ; South Franconian German, South Franconian: ''Kallsruh'') is the List of cities in Baden-Württemberg by population, third-largest city of the States of Germany, German state of Baden-Württemberg, after its capital Stuttgart a ...

and uses their

banking software Banking software is enterprise software that is used by the banking industry to provide and manage the financial products they provide. Within retail banks, banking software typically refers to core banking software and all its interfaces that ...

agree21.

References

External links

* {{Authority control Banks established in 1959 Banks of Germany Financial services companies based in Munich Companies listed on the Frankfurt Stock Exchange