private bank
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private bank
A credit institution that is privately owned and is not state-owned or publicly listed. Private banks often specialize in wealth management for wealthy clients.
Er hat sein Vermögen bei einer exklusiven Schweizer Privatbank angelegt.
He invested his fortune with an exclusive Swiss private bank.
The word is made up of 'privat' (private) and 'Bank' (bank). So it literally describes a bank that is privately owned.
Viele alte Familien vertrauen ihr Geld einer Privatbank an.
Many old families entrust their money to a private bank.
The term 'Privatbank' (private bank) is mostly used in the context of large-scale wealth management and exclusive financial services. It suggests a higher degree of service and discretion than a normal commercial bank.
Für die Verwaltung seines Erbes wählte er eine renommierte Privatbank.
He chose a renowned private bank to manage his inheritance.
To describe the location or relationship to a private bank, the preposition 'bei' (at/with) with the dative is almost always used.
Er ist seit über zwanzig Jahren Kunde bei derselben Privatbank.
He has been a client at the same private bank for over twenty years.
savings bank
'Sparkasse' and 'Privatbank' both refer to banks where you can, for example, have an account or invest money. The important difference lies in the type of bank. A 'Sparkasse' is a public-law credit institution and is often strongly connected to a city or region. A 'Privatbank' is privately owned and often focuses more on customers with substantial wealth. Learners may confuse the words because both offer banking services. If you are talking about a normal local bank, 'Sparkasse' often fits. If private ownership or wealth management is the focus, 'Privatbank' is more precise.
Der Unternehmer lässt sein Vermögen von einer Privatbank verwalten.
The entrepreneur has his assets managed by a private bank.
Bei der Sparkasse in unserer Stadt habe ich mein erstes Konto eröffnet.
I opened my first account at the savings bank in our town.