Update On Eurocity: The Secretive Turkish-Controlled ‘No Longer Bank’ And Its Connections!
We recently reported that the European Central Bank(ECB) had revoked the license of the small Turkish-controlled German Eurocity bank. The ECB confirmed this to Finanz Szene. Neither the regulators ECB and BaFin nor Eurocity explained the reasons and background. The 2021 financial statements show that Eurocity has struggled with regulatory problems since 2020. BaFin then imposed a new business ban in 2021. The bank had a connection to the Austrian secret service.