Press release - Advanzia Bank publishes its 2022 results and announces a change in CEO

13 Mar 2023 14:30 CET

The European digital bank reports another successful year with continued growth
and solid financial results

Luxembourg, March 13th, 2023 – Advanzia Bank, the European digital bank
specialising in credit cards and payment solutions, reports another consecutive
year of growth in all its markets, continued progress on its strategic
initiatives and strong financial results based on prudent credit risk
underwriting. The bank reported a gross credit card loan balance of EUR 2.6
billion for its 2.2 million cardholders internationally, representing an annual
growth rate of 8.8%. Credit card turnover went up by 25.6% to EUR 5.3 billion.
The financial year concluded with a net income of EUR 122 million.

Notable business achievements for 2022 include the exceptional growth in its
first full year of operations in Italy, the sixth consumer market that Advanzia
has entered with its no-fee credit card offering that is also available in
Germany, Luxembourg, France, Austria and Spain. The launch of the new Capitol
app and the full migration of all private banks to the omni-channel platform are
digital transformation milestones that demonstrate the bespoke
Cards-as-a-Service offering Advanzia delivers to this business segment.

With the publication of its 2022 financial results, the bank also announced that
its CEO of six years, Roland Ludwig, is leaving the bank.

“Advanzia Bank is a success story, and the 2022 results demonstrate yet again
our solid business model and both the relevance and popularity of Advanzia’s
credit cards and payment solutions. It has been an honour to accompany the bank
on its journey towards becoming a leading European digital card issuer. I look
forward to seeing Advanzia’s future success as I take my leave to focus on new
professional challenges,” comments Roland Ludwig, outgoing Chief Executive
Officer.

The chairperson of Advanzia’s Board of Directors, Bengt Rem, commented: “On
behalf of the Board, I would like to express our sincere appreciation for
Advanzia’s management and employees for another successful year. Since Roland
Ludwig joined in 2017, Advanzia has grown uninterruptedly, made significant
leaps in its digital transformation, became a pan-European card issuer active in
six markets and established itself as a European market leader for
Cards-as-a-Service solutions. Advanzia is in an excellent position to pursue its
ambitious future plans.”

A succession plan is in place and in the meantime, Mr. Nishant Fafalia,
long-standing member of Advanzia’s Board of Directors, has stepped in as Interim
CEO (subject to CSSF approval). Together with the remaining members of the
Executive Management Committee, he is in charge of the day-to-day management of
Advanzia.

Download the Advanzia Bank 2022 Annual Report:
https://www.advanzia.com/en-gb/about-us/investor-relations.

About Advanzia Bank
Founded in 2005 in Luxembourg, Advanzia Bank S.A. is a European digital bank
specialising in credit cards and payment solutions. With more than 2.2 million
credit card customers, Advanzia is a leading credit card issuer in Germany and
has a strong presence in Luxembourg, France, Austria, Spain and Italy. As well
as issuing consumer credit cards under its own brands, Advanzia is a leading
provider of Cards-as-a-Service solutions for more than 270 companies,
associations and financial institutions. Business partners use Advanzia’s
co-branded credit cards to strengthen customer loyalty and create a competitive
advantage. Private banks implement turnkey Visa and Mastercard credit card
programmes delivered by Advanzia, either as white label cards or under the
flagship brand Capitol. In 2022, Advanzia achieved a total credit card turnover
of EUR 5.3 billion for all its market segments. At the end of 2022, the bank
employed 196 employees. www.advanzia.com

Press contact Advanzia Bank
Sara Nobels, Head of Communication & PR
sara.nobels@advanzia.com, +352 26 38 75 1

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