Volkswagen Bank was founded in 1949 and has its central task to promote sales for Volkswagen Group and its brands. Volkswagen Bank provides financing products ranging from financing of new and used vehicles of all Volkswagen Group’s brands to dealer financing. Volkswagen Bank also provides savings and investment products, credit cards and securities trading via direct banking.
In 2017 total assets of Volkswagen Bank GmbH were 69 015,60 mln EUR. In 2017 the bank's net income was 0,00 EUR.
Volkswagen Bank GmbH is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is A1 (upper medium grade).
Volkswagen Bank GmbH participates in deposit guarantee scheme of Germany. This scheme covers accounts up to 100 000 EUR per bank per depositor.
Volkswagen Bank GmbH is headquartered in Braunschweig.
|Total Assets (2017)|
|69 015.60 mln EUR (+13.75%)|
In 2017 total assets of Volkswagen Bank GmbH were 69 015.60 mln EUR. Growth compared to the previous period (2016) was 13.75%. The evolution of the total assets of Volkswagen Bank GmbH is shown at Chart 1 below.
Chart 1. Total Assets of Volkswagen Bank GmbH.
|Net Income (2017)|
In 2017 net income of Volkswagen Bank GmbH was 0.00 EUR. The value didn't change compared to the previous period (2016). The evolution of the net income of Volkswagen Bank GmbH is shown at Chart 2 below.
Chart 2. Net Income of Volkswagen Bank GmbH.
|- (not rated)||A1 (upper medium grade)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Volkswagen Bank GmbH is rated by Moody's.
Credit ratings assigned to Volkswagen Bank GmbH as of May 2018 are shown in details in the following sections.
Long-term rating for Volkswagen Bank GmbH it is set to A1 (upper medium grade). Long-term bank deposit rating is A1 (upper medium grade). Baseline credit assessment is baa2. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||A1|
|Baseline Credit Assessment||baa2|
Outlook for the ratings of Volkswagen Bank GmbH is set to stable (not likely to change).
|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 Volkswagen Bank GmbH 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 Volkswagen Bank GmbH and its components are shown in the table below.
|Bank BIC Code||VOWA|
|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 Volkswagen Bank GmbH is shown in the table below.
The following banks operating under Volkswagen Bank brand name has been recently closed down: