EQS-Adhoc: Varengold Bank investigates new potential business areas

Hamburg, 10/09/2024 – At today's Supervisory Board meeting, the Supervisory Board and  Management Board of Varengold Bank AG [ISIN: DE0005479307] agreed on the fundamentals of a business model which, in addition to the established Marketplace Banking segment, includes the expansion of business in the area of ESG financing with a special focus on energy transition. In order to sharpen the profile and adapt to changing conditions, it was also decided to immediately discontinue payment transactions with Iran for the processing of humanitarian imports. The Management Board will further detail the business model in the coming weeks and present it to the Supervisory Board for a final resolution. In consideration of the many challenges involved in implementing the business model, the Supervisory Board plans to expand the Management Board.
 

Dr. Bernhard Fuhrmann  
Management Board

Frank Otten
Management Board             
 

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