The History of Our Bank
Milestones in Our Corporate Development
North Channel Bank GmbH & Co. KG was founded in 1924 as the privately owned bank – Bankhaus Oswald Kruber GmbH & Co. KG based in Berlin – and today has its headquarters in the Rhineland-Palatinate state capital Mainz. Starting in 2010, the bank has established itself as a reliable niche provider for its business partners in an international environment.
In 2009, a North American investor group with experience in the secondary US Life Settlement market acquired the bank and renamed it North Channel Bank. In the following years, the bank developed into one of the leading institutions in the financing of US Life Settlements.
Through the acquisition of our affiliate NorthStar Life Services, LLC in 2013, our bank gained direct access to a reliable, experienced and renowned servicer in the US Life Settlement market.
Today, North Channel Bank offers not only financing but also investments in US Life Settlements. In the Structured Finance segment, the bank focuses in particular on financing in the renewable energies sector, capital goods financing, equity interim financing and acquisition finance.
Our Milestones at a Glance:
2017: Expansion of the Structured Finance segment, especially in the areas of renewable energies and sustainable resource optimization, capital goods financing, equity interim financing and acquisition finance.
Expansion of the Asset Management division
Strategic realignment of the bank
2014: Diversification – Development of new products and solution concepts
Acquisition of additional business partners
2013: Acquisition of Irvine, CA-based NorthStar Life Services, LLC, Irvine, CA
2012: Appointment of new shareholders
2011: First positive income statement only two years after the new formation
2010: Introduction of the US Life Settlement financing division
2009: Acquisition of Bankhaus Oswald Kruber GmbH & Co. KG (founded in 1924), full banking license, new formation of North Channel Bank GmbH & Co. KG