Zurich Bank obtains banking license

Zurich Italy announced that Zurich Bank has obtained the authorization to carry out banking and investment services, issued by the European Central Bank.

The ECB’s decision, as part of an authorization procedure carried out by the Bank of Italy, is part of the process for the acquisition of the business unit of the Financial Advisors of Deutsche Bank Financial Advisors by the Zurich Group launched in August 2021. “Zurich Bank will be focused on financial advice and will leverage the experience and expertise of Zurich and the DBFA network of advisors.”

“Obtaining the banking license by Zurich Bank is a fundamental step for Zurich. We want to create a fluid and multi-channel distribution model, capable of offering a synergistic range of investment, insurance, banking and financial services by leveraging the expertise of a strong and consolidated network in the financial advisory market in Italy. The birth of this new reality confirms Zurich’s desire to innovate and innovate, as well as the commitment to protect our customers, promoting a correct culture of protection, in the insurance and financial fields.” – Giovanni Giuliani, Country CEO of Zurich in Italy,

Zurich Bank will be operational following the completion of the acquisition of the branch, which will take place after the summer, and the transmission of the start-up communications to the Supervisory Authorities.