Norisbank

The Norisbank GmbH is a German bank with headquarters in Bonn. Since 2 November 2006, it has been a subsidiary of Deutsche Bank and since 27 July 2012 purely a direct bank.

Norisbank GmbH
Limited liability company
IndustryBank
Founded1954[1]
HeadquartersBonn, Germany[1]
Total assets€3,861,0 million (2018)[2]
Number of employees
51 (2018)[2]
ParentDeutsche Bank
Websitenorisbank.de
Former logo 2007
Former Norisbank subsidiary in Mainz in 2006

History

The roots of Norisbank date back to the year 1954.[3] Starting that year, the mail-order company Quelle offered to finance its products via the Noris purchase aid.

On 4 June 1965, the Noris Kreditbank GmbH was founded in Nuremberg. The business objective was to expand the financing of the entire supply of Quelle and its subsidiaries in the mail order and in the stationary sector. In the year 1969 the Noris purchase aid changed its name to Noris Bank GmbH. The name change was accompanied by an expansion of the product range to include banking services such as checking and savings accounts.[1]

In 1984, the Norisbank GmbH merged with the Hamburg Verbraucherbank GmbH. The reason for the takeover of the previously independent Verbraucherbank GmbH was the acquisition of the first German customer self-service system. The Verbraucherbank had introduced the customer self-service in 1975 as the first financial institution in Germany, 1977 one of the first ATMs worldwide followed as well as the first online banking offer in Germany in 1980.[4] The Noris Verbraucherbank GmbH was part of the Quelle Group until the end of 1997 and was sold to Bayerische Vereinsbank on 19 June 1997. It merged the Noris Verbraucherbank GmbH with the Franken WKV Bank GmbH (founded in 1950).

In January 1999, the Hypo Service Bank (HSB), founded in 1991, was integrated into Norisbank AG. In 2000, Norisbank AG was the first bank on the Internet to offer loans with an online instant pledge.

After uncertainties in 2002, when the HypoVereinsbank was considering integrating the Norisbank into its own branch network, it was decided in December 2002 to sell the Norisbank. On 1 October 2003, DZ Bank became the new owner of Norisbank AG for a purchase price of EUR 180 million.

On August 3, 2006, the DZ Bank sold the 98 branches and the brand name Norisbank for 420 million Euros to the Deutsche Bank, which also took over the customer base.[5] The Norisbank AG based in Nuremberg then renamed to Teambank AG Nuremberg, while the sold branches were continued by the newly founded Norisbank GmbH based in Frankfurt am Main.

Corporate Development

In July 2005, the Norisbank AG entered a new business field: the sale of its consumer credit easy credit, which was completely detached from other banking services, via installment credit stores in city centers, shopping malls and arterial roads in the city. Over the years, this market strategy has attracted 500,000 new customers. However, not all credit customers could be won as regular customers. In August 2006, the bank had around 650,000 customers.

In the course of the sale to the Deutsche Bank some services were limited: Thus, the number of self-service terminals in the branches was reduced, there were no online foreign transfers possible and the cash counter no longer accepted coins. On January 1, 2008, the classic counter traffic was completely ended. Since then, the branches have only been advisory offices with self-service zones.

By the sale of Norisbank to the Deutsche Bank Group the Norisbank resigned from the ATM network CashPool on October 31, 2006 and returned to the Cash Group.[6] Because of its former affiliation with Hypovereinsbank, the Norisbank was already a member of the Cash Group until 2003.

The new business model saw itself as a direct bank with branches. In the 90 branches, customers were able to receive advice on issues such as investments and pension plans. Despite the advice in the branch, branch customers received the same conditions as through direct sales.

On 1 October 2008, the headquarter was moved to Berlin. As part of the restructuring, all branches were closed on 27 July 2012 and the Norisbank converted into a direct bank. Since then, banking transactions have been conducted by customers primarily via the Internet, via telephone banking and via the self-service terminals in Deutsche Bank's branches. The 400 former branch employees were transferred without notice to Postbank, also a subsidiary of Deutsche Bank.[7] Today, the Norisbank employs around fifty people (mainly in management), and a large part of its banking services are provided by other employees within the Deutsche Bank Group.[3] Since December 2014, Bonn is the seat of the Norisbank.

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References
  1. "Company Overview of norisbank GmbH". Bloomberg. Retrieved 29 August 2018.
  2. "norisbank GmbH Jahresabschluss 2018". Bundesanzeiger. Retrieved 5 December 2019.
  3. "Geschichte der norisbank". norisbank. Retrieved 29 August 2018.
  4. Borchers, Detlef (12 November 2010). "Vor 30 Jahren: Online-Banking startet in Deutschland". heise online. Retrieved 29 August 2018.
  5. "Deutsche Bank kauft Norisbank". DER TAGESSPIEGEL. 4 August 2006. Retrieved 29 August 2018.
  6. "Geldautomaten". norisbank. Retrieved 26 September 2018.
  7. "Deutsche Bank macht Norisbank-Filialen dicht". SPIEGEL ONLINE. 8 February 2012. Retrieved 26 September 2018.

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