Press release
25 January 2023
North Channel Bank GmbH & Co. KG – payout event determined by BaFin
The German Federal Financial Supervisory Authority (BaFin) determined on 25. January 2023 that a payout event pursuant to Section 10(1) of the German Deposit Guarantee Act (EinSiG) had occurred at North Channel Bank GmbH & Co. KG since the bank is unable to repay the deposits it holds due to its financial difficulties.