Founded in 2012, Portigon AG is the legal successor of WestLB (Westdeutsche Landesbank). Portigon is focused on providing financial services in the areas of portfolio management, reporting and financial engineering. Portigon's offers credit analysis, treasury, finance and controlling, risk control, credit administration, IT services and various corporate center functions.
In 2017 total assets of Portigon AG were 7 410,58 mln EUR. In 2017 the bank's net income was -267,44 mln EUR.
Portigon AG is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is WD (withdrawn).
Portigon AG participates in deposit guarantee scheme of Germany. This scheme covers accounts up to 100 000 EUR per bank per depositor.
Portigon AG is headquartered in Düsseldorf.
|Total Assets (2017)|
|7 410.58 mln EUR (-35.81%)|
In 2017 total assets of Portigon AG were 7 410.58 mln EUR. Decline compared to the previous period (2016) was -35.81%. The evolution of the total assets of Portigon AG is shown at Chart 1 below.
Chart 1. Total Assets of Portigon AG.
|Net Income (2017)|
|-267 444 268.49 EUR (+5.55%)|
In 2017 net income of Portigon AG was -267 444 268.49 EUR. Growth compared to the previous period (2016) was 5.55%. The evolution of the net income of Portigon AG is shown at Chart 2 below.
Chart 2. Net Income of Portigon AG.
|WD (withdrawn)||- (not rated)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Portigon AG is rated by Fitch.
Credit ratings assigned to Portigon AG as of May 2018 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Portigon AG it is set to WD (withdrawn). The rating is not on watch. Short-term issuer default rating for Portigon AG is set to WD (withdrawn).
|Long-Term Issuer Default Rating||WD|
|Short-Term Issuer Default Rating||WD|
|Support Rating Floor||WD|
Viability rating for Portigon AG is set to WD (withdrawn); support rating is WD; support rating floor is WD (withdrawn).
|Yes (up to 100 000 EUR per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Germany are obliged to participate in German deposit guarantee scheme.
In the case of Portigon AG failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Covered Accounts||all deposit accounts (deposits on current accounts and savings accounts, overnight money or time deposits, registered savings bonds, and similar)|
|Covered Currencies||EU currencies|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||EUR|
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Portigon AG and its components are shown in the table below.
|Bank BIC Code||PORT|
|Country Code||DE (Germany)|
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
MFI ID of Portigon AG is shown in the table below.
The following banks operating under Portigon brand name has been recently closed down: