On September 24, 2014 Bank Gutenberg AG signed a settlement agreement with British Columbia Securities Commission, admitting that the bank traded securities on behalf of British Columbia residents, contrary to the legal requirement to be registered. The bank agreed to pay $850,000 to the Commission, $50,000 of which represents the cost of the investigation. Bank Gutenberg then ceased its operations.
Bank Gutenberg AG was the 231st largest bank in Switzerland in terms of total assets. In 2013 its total assets were 200,62 mln CHF, providing the bank with the market share of 0.01%.
Bank Gutenberg AG participates in deposit guarantee scheme of Switzerland. This scheme covers accounts up to 100 000 CHF per bank per depositor.
Bank Gutenberg AG was headquartered in Zürich.
|Total Assets (2013)|
|200.62 mln CHF (-1.67%)|
In 2013 total assets of Bank Gutenberg AG were 200.62 mln CHF. Decline compared to the previous period (2012) was -1.67%. The evolution of the total assets of Bank Gutenberg AG is shown at Chart 1 below.
Chart 1. Total Assets of Bank Gutenberg 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 Bank Gutenberg 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|
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 Bank Gutenberg AG and its components are shown in the table below.
|Bank BIC Code||BGUT|
|Country Code||CH (Switzerland)|