Origin of DZ PRIVATBANK
DZ PRIVATBANK is a Swiss private bank established in the financial center of Zurich in 1975. The bank is the second largest German foreign bank in Switzerland.
DZ PRIVATBANK S.A. belongs to 9.26 % to Deutsche Genossenschaftsbanken and 90.74 % to DZ Bank AG. DZ PRIVATBANK is 100 % owned by DZ PRIVATBANK S.A. IC Concept (Luxembourg) S.A. is 100 % owned by DZ PRIVATBANK S.A. and IC Concept (Schweiz) AG is 100 % controlled by DZ PRIVATBANK. DZ PRIVATBANK is based in Luxembourg and has ten locations in Germany.
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Philosophy and Strategy
DZ PRIVATBANK is the private bank of the Volksbanken Raiffeisenbanken and acts by the cooperative values and combines them with convincing services so that the customer gets a clear benefit. The values are performance, success, solidarity, competence, and trust.
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Services and Solutions
DZ PRIVATBANK focuses on private client business, which includes asset management and investment advice, including Lombard loans. Within the Cooperative Financial Network Volksbanken Raiffeisenbanken, it is the competence center for private banking in the Swiss financial market. DZ PRIVATBANK is the sole shareholder of IPConcept (Schweiz) AG. It is a fund management company that acts as a center of expertise around funds in Switzerland. The Bank specializes in individual solutions for wealthy people. DZ’s services are asset management, asset structuring, pension and financial planning, as well as consultant services for foundations.
The solutions and offers for wealthy people are:
- Investment advice – If the clients are passionate about the financial world and want to keep an eye on their investments and want to make their own decisions, DZ PRIVATBANK is here to give suggestions and look for the best deals.
- Asset Management – If the clients want to have their asset managed and want to have secure assets and solid results without having to be worried at all time watching stock market prices and making decisions, then an asset management mandate is the best solution. Together with the client, DZ PRIVATBANK develops the basic strategy. Also, the experienced portfolio specialists and analysts observe a variety of bonds, equities, and commodities, as well as currencies.
Foundations are here to promote a social project permanently. DZ PRIVATBANK helps the client to fulfill the concrete foundation plans or helps to support the implementation of a new foundation. The bank also is taking care of optimal asset management.
DZ PRIVATBANK offers flexible financing for private clients and corporations. The bank offers currency loans for cross-border commuters or offers mortgages for real-estate projects abroad.
DZ PRIVATBANK also offers import and export financing for corporations.
Fund Management and Fund Service
DZ PRIVATBANK is assisting their customers with the entry into the fund business. Whether the client is just planning the first steps, already has a concrete plan or is about to realize the own fund. Together with IPConcept, DZ is there right from the start. The available funds can be based in Luxembourg, Germany or Switzerland.
DZ PRIVATBANK advises on all organizational and legal issues, takes care of approval procedures and administrative tasks. The bank assists in finding the right management company. DZ PRIVATBANK helps to define the investment strategy, places the fund on the financial market, and prepares official documents such as prospectuses and contracts. And the bank accompanies the client during the approval process with the supervisory and approval authorities.
If the fund is up and running, DZ PRIVATBANK will continue to support the client, as a fund manager, takes care of risk controlling and back office.
The Board of Directors has carried out a risk assessment and adopted the Bank’s risk policy at the July 2017 meeting. It forms the basis for risk management. Clear limits are set for the individual measurable risks, and their implementation is constantly monitored. Risk policy plays the central part for all bank risks and thus forms the framework for internal regulations.
The Bank pursues a risk-averse business strategy in the core business Private Banking. Also, the bank has a well-established and functioning control process.
The main risks, DZ PRIVATBANK is exposed to are the credit riks, the market risk, the liquidity risk, the operational risks, the legal risk, and the reputational risks.
The Board of Directors and the Management are regularly informed about the risk situation as well as the asset, financial, liquidity and earnings position of the Bank using an appropriate management information system.
The bank does not maintain a proprietary trading book.
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Linked to the cooperative tradition DZ PRIVATBANK’s mission is to contribute to the well-being of society, and also responds specifically to global problems, such as climate change, a shortage of resources, poverty, demographic changes, deforestation and threats to biodiversity. DZ PRIVATBANK has decided to recognize the ten principles of the UN Global Compact and implement them within their sphere of influence.
The net profit of DZ PRIVATBANK was characterized by the restructuring of the Bank’s business model, the focus on the solution offering, the reduction of complexity and the associated adjustments to the process and structure. Operating income and customer portfolios decreased as a result of the transfer of intangible assets to the parent company DZ PRIVATBANK S.A. in Luxemburg. Thanks to this focus on the core business, operating expenses were also significantly reduced. The persistently low-interest rate environment with negative interest rates in the key markets had an impact on customer deposits and thus on total assets, which at CHF 1’072.4 million were CHF 277.4 million lower than in the previous year (CHF 1’350.0 million).
Provisions fell from CHF 40.7 million to CHF 9.6 million. The outstanding legal cases were almost completely completed in 2017. The restructuring provision was partially used due to ongoing reorganization measures and restructuring.
Given the asset developments in the home market of Germany, the business with wealthy private clients and private banking clients remains highly attractive and is thus highly competitive.
DZ PRIVATBANK – Facts & Figures
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|Address||Münsterhof 12, 8001 Zürich|
|Phone||+41 44 214 94 00|
|Year of foundation||1975|
|No. of employees||98|
|Rating||Fitch AA- / Moody’s Aa2 /S&P A+|
|CEO||Dr. Thomas Hirschbeck|
|Eligible Regulatory Capital||185.166 m CHF|
|Tier 1 Ratio||64.09 %|
|Leverage Exposure||975.921 m CHF|
|Leverage Ratio||18.97 %|
|Liquidity Coverage Ratio||213 %|
|Risk Weighted Assets||288.893 m CHF|
|Loans outstanding||53.365 m CHF|
|Assets under Management||5.645 bn CHF|
|Assets under Management / Employees||57.602 m CHF|
|Net profit||22.394 m CHF|
|Net Profit / Employees||229’054 CHF|
|Cost / Income Cost Ratio (CIR)||87.80 %|
|Return on Equity||10.78 %|
|Own structured products||No|
|Presence abroad||Germany, Luxembourg|
Source: Annual Report 2021
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