bank in the parc d activit syrdall munsbach luxembourg advanzia bank s.a was established in luxembourg in 2005 subject to cssf supervision specializing in no fee credit cards and euro savings accounts . the bank was established as a result of the former founding management of bankia bank seeking to establish an eu based bank . this was accomplished with the previously largest shareholder of bankia bank kistefos becoming the largest shareholder of advanzia bank . fyksen grenth and holtedahl have together with dr. thomas schlieper set up the bank which has quickly become a significant issuer of international credit cards in mainland europe without a presence in the highly competitive uk card market . europe s premier card issuer is barclaycard of the uk . under the umbrella of european cross border banking regulations advanzia caters primarily to luxembourgish german austrian and french clients . within its first year of operations the bank had become the largest luxembourgish issuer of credit cards . within two years of operations 2008 advanzia had become the largest credit card provider in germany in terms of transactions turnover value with its product geb hrenfrei mastercard gold despite a general decline in the credit card market . 1 2 the bank made its first profits in 2009 with the 2008 financial crisis being a significant contributor to lowering funding costs . 3 the current ceo is marc hentgen formerly ceo of fortis consumer finance deutschland having led its ambitions for growth in germany through credit4me . 4 the bank had 833.000 card holders and an after tax profit of eur 36 million in 2015 . 5 this placed the bank among top 3 % of luxembourg banks in terms of profitability 45 % return on own funds . 6 references edit payment cards in germany pdf . datamonitor marketpublishers.com . june 2010 . retrieved june 2011 . check date values in access date help payment cards in germany . datamonitor . july 2011 . retrieved september 2012 . check date values in access date help zinshistorie zum advanziakonto der advanzia bank s. a . modern banking.de . retrieved 2013 10 02 . fortis will in deutschland f nf prozent marktanteil bei konsumkrediten erreichen eurams 11.05.2007 nachricht . finanzen.net . 2013 05 30 . retrieved 2013 10 02 . investor relations facts and figures . advanzia bank . retrieved 2016 08 13 . luxembourg banks insights 2014 pdf . kpmg . july 23 2014 . retrieved july 23 2014 . external links edit official website retrieved from https en.wikipedia.org w index.php title advanzia bank & oldid 734356812 categories banks of luxembourghidden categories cs1 errors dates navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutschnederlands edit links this page was last modified on 13 august 2016 at 19 40 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view