Varengold was established in 1995 as an asset managerm, providing German investors access to the markets of managed futures, hedge funds and alternative investment. In 2013 Varengold obtained its commercial banking license and started providing retail, corporate and investment banking products and services.
In 2017 total assets of Varengold Bank AG were 445,21 mln EUR. In 2017 the bank's net income was -19,95 mln EUR.
Varengold Bank AG participates in deposit guarantee scheme of Germany. This scheme covers accounts up to 100 000 EUR per bank per depositor.
Varengold Bank AG is headquartered in Hamburg.
|Total Assets (2017)|
|445.21 mln EUR (-27.48%)|
In 2017 total assets of Varengold Bank AG were 445.21 mln EUR. Decline compared to the previous period (2016) was -27.48%. The evolution of the total assets of Varengold Bank AG is shown at Chart 1 below.
Chart 1. Total Assets of Varengold Bank AG.
|Net Income (2017)|
|-19 946 782.49 EUR (-0.12%)|
In 2017 net income of Varengold Bank AG was -19 946 782.49 EUR. Decline compared to the previous period (2016) was -0.12%. The evolution of the net income of Varengold Bank AG is shown at Chart 2 below.
Chart 2. Net Income of Varengold Bank AG.
|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 Varengold Bank 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 Varengold Bank AG and its components are shown in the table below.
|Bank BIC Code||VGAG|
|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 Varengold Bank AG is shown in the table below.
Bank Sort Code is a code that uniquely identifies a financial institution within a country. Bank sort codes are usually assigned by National Central Banks and differ from BIC codes.
|Bank Sort Code||20030133|