The Luxembourg Financial Sector Supervisory Commission (CSSF) has issued a licence for “DZ Privatbank AG, Niederlassung Luxemburg”, reflecting DZ Privatbank’s shift to operating in Luxembourg as a branch after relocating its legal registered office to Frankfurt am Main.
The bank confirmed to Paperjam that the authorisation should not be interpreted as the launch of a new institution in Luxembourg. “To avoid any misunderstanding: DZ Privatbank is not opening a new banking institution in the Luxembourg financial centre on 2 January,” it said, adding that the branch licence application arose “solely from the fact that we have relocated our legal registered office from the Grand Duchy to Frankfurt am Main, Germany”.
DZ Privatbank SA was first registered in Luxembourg in December 1977, according to the CSSF roll.
Seat move via cross-border conversion
DZ Privatbank added that the change of seat was carried out through a cross-border conversion from a Luxembourg public limited company (société anonyme) into a German stock corporation (Aktiengesellschaft). The conversion took effect on 2 January 2026.
The bank emphasised that the restructuring did not alter the substance of its Luxembourg operations and was not expected to affect stakeholders. “There are no material changes for clients, business partners or employees,” it said, adding that “all contacts, account and custody numbers as well as the range of services remain unchanged”.
The Luxembourg site, which has approximately 900 employees, will “henceforth operate as a branch and will remain unchanged in size”, the bank affirmed.