Advanzia Bank, based in Luxembourg, has reported another successful financial year with market growth and solid financial results. The bank specializes in credit cards and payment solutions and has delivered strong financial results despite the challenges posed by the COVID-19 pandemic. Advanzia prides itself on being transparent with its clients and closely monitors macroeconomic and receivables developments to ensure continuity in its growth.

One of the bank’s distinctive selling points is its fee-free credit card offer in Germany, Luxembourg, and Italy. The bank recorded over 1.8 million Advanzia credit card holders in Germany last year. The bank’s credit card sales rose 25.6 percent to 5.3 billion euros. The bank has been successful in its digital transformation, launching the new Capitol app and fully migrating all private banks to the omnichannel platform. These milestones underscore Advanzia’s tailored Cards-as-a-Service offering.

Advanzia Bank expects to grow its loan portfolio and customer base in all the markets it serves in 2023, with a strong capital position and good results in 2022. Despite the macroeconomic environment, the bank proved resilient to geopolitical conflicts and inflationary pressures in all markets and achieved its growth targets within the expected risks. The bank is set to continue its growth in all markets it serves, focusing on digital transformation and its tailored Cards-as-a-Service offering.

To ensure continuity, the bank has initiated a succession plan as its CEO, Roland Ludwig is leaving after six years to focus on new professional challenges. Bengt Rem, Chairman of the Board of Directors of Advanzia, notes that since Roland Ludwig joined the company in 2017, Advanzia has grown steadily, making significant leaps in digital transformation, becoming a pan-European card provider active in six markets, and establishing itself as the European market leader for Cards-as-a-Service solutions.

In conclusion, Advanzia has once again proved its strength in the banking industry by delivering solid financial results despite the challenging times. With its tailored Cards-as-a-Service offering and focus on digital transformation, the bank is well-positioned to continue its growth in all markets it serves. Advanzia Bank’s transparency with its clients and assured continuity have made it a trustworthy banking option for its customers.