Frankfurt-based Eurocity AG (previously Eurocity Bank AG), a financial institution under Turkish-Austrian control, has apparently lost its banking license. A European Central Bank (ECB) spokesman said the institute's license had already been withdrawn in December 2022. This means that the bank can no longer conduct banking business in Germany. On 15 March 2023, the Eurocity website is still accessible. There is no official statement from Eurocity.