Bafin restricts business from Rolf Elgetis Bankhaus Obotritia

Frankfurt Next setback for the Munich bank Obotritia: The financial supervisory authority Bafin has imposed serious business restrictions on the institute, which belongs to the company portfolio of the well-known real estate investor Rolf Elgeti. This is evident from the 2021 annual financial statements. It was published in the Electronic Federal Gazette at the end of November and also contains statements about the first half of the past year.

The measures taken by Bafin in May 2022 hit the bank hard: “Due to the business restrictions, the long-term prospects are no longer given with the previous business strategy and it is necessary to revise the business strategy and planning,” writes the institute. Irrespective of this, the continuation of the company is “secured for 2022 and 2023” through the customer loan and proprietary business that has already come about, as well as the deposit business.