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The digital bank reaches milestone in diversifying its funding
European digital bank Advanzia has today announced the issuance of a securitisation transaction of EUR 475 million in senior funding. This transaction is the first ABS programme (Asset Backed Securities) in continental Europe based on a German credit card portfolio that meets the requirements for simple, transparent and standardised (STS) securitisations. Following the bank’s issuance of hybrid capital in spring 2021, this is an important next step towards a strengthened and diversified balance sheet. During the past five years, the bank has continuously developed its covered lending and is now entering the next phase with an ABS programme. Throughout this process, Advanzia Bank has been assisted...
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