On 23 November 2013 AKB Privatbank, a subsidiary of Aargauische Kantonalbank, mainly involved in asset management in the EU area, was taken over by Privatbank IHAG Zürich AG. Aargauische Kantonalbank decided to focus primarily on their traditional economic territory.
AKB Privatbank Zürich AG was the 188th largest bank in Switzerland in terms of total assets. In 2013 its total assets were 404,70 mln CHF, providing the bank with the market share of 0.01%. AKB Privatbank Zürich AG was the 25th largest stock exchange bank in Switzerland (out of 46 banks) having market share of 0.29% amongst the banks of this category.
AKB Privatbank Zürich AG participates in deposit guarantee scheme of Switzerland. This scheme covers accounts up to 100 000 CHF per bank per depositor.
AKB Privatbank Zürich AG was headquartered in Zürich.
|Total Assets (2013)|
|404.70 mln CHF (-15.65%)|
In 2013 total assets of AKB Privatbank Zürich AG were 404.70 mln CHF. Decline compared to the previous period (2012) was -15.65%. The evolution of the total assets of AKB Privatbank Zürich AG is shown at Chart 1 below.
Chart 1. Total Assets of AKB Privatbank Zürich AG.
|Yes (up to 100 000 CHF 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 Switzerland are obliged to participate in Swiss deposit guarantee scheme.
In the case of AKB Privatbank Zürich AG failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||private individuals, commercial enterprises and public-sector offices|
|Covered Accounts||credit balances (e.g. personal accounts, savings accounts, investment accounts, salary accounts, numbered accounts, deposit accounts and current accounts)|
|Maximum Protected Amount||100 000 CHF|
|Paid In Currency||CHF|
Any bank can be identified for different purposes and hence can have several different identifiers.
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 AKB Privatbank Zürich AG and its components are shown in the table below.
|Bank BIC Code||AKBP|
|Country Code||CH (Switzerland)|