Banque Internationale à Luxembourg

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Banque internationale à Luxembourg
TypePrivate
IndustryBanking
FoundedApril 3, 1910; 111 years ago (1910-04-03)
Headquarters
Luxembourg
ProductsCorporate banking
Commercial banking
OwnerLegend Holdings (89.936%)
Luxembourg government (9.993%)

Banque Internationale à Luxembourg S.A. (BIL) is the oldest private bank in Luxembourg.[1] It offers commercial and corporate banking services.

The Bank provides services including investment management and private banking services, mortgage loans, mutual funds management, and credit card sponsorship. BIL lends to major multi-nationals from around the world and underwrites Eurobonds and domestic bond issues.

History[]

Founded in 1856, the bank was a major bank of Luxembourg.

In 1982, the BIL opened a subsidiary in Singapore.[2] The BIL was acquired by Dexia in 1999.[3]

In 2012 Dexia sold BIL for €730 million to Precision Capital,[4] which also owned KBL European Private Bankers. In 2015, the BIL closed its Singapore subsidiary.[2]

In 2017, Legend Holdings announced it was acquiring a 90% stake in the bank from Precision Capital for €1.484 billion.[5][6] In July 2018, the procedure was approved by the Luxembourg regulator (CSSF) and the European Central Bank.[7][8]

In August 2020, the CSSF fined the BIL €4.6 million for failings in applying anti-money laundering policies.[9] In 2020, the bank reported a decrease of 10% of its annual results.[10]

See also[]

References[]

  1. ^ "A Chinese carmaker agrees to buy a Danish investment bank". The Economist. 5 October 2017.
  2. ^ Jump up to: a b "BIL To Close Its Office in Singapore as Part of a New Strategic Framework". www.businesswire.com. 2015-05-13. Retrieved 2021-05-17.
  3. ^ Sébastien Buron (11 January 2007). "Manager de l'Année" (PDF). Levif.be (in French). Retrieved 12 September 2017.
  4. ^ "Closing of the sale of Banque Internationale à Luxembourg" (PDF). Dexia. 5 October 2012. Retrieved 13 April 2016.
  5. ^ "Legend Holdings to acquire Precision Capital's stake in Banque Internationale à Luxembourg" (Press release). Banque Internationale à Luxembourg. 1 September 2017. Retrieved 3 September 2017.
  6. ^ "Major Transaction Acquisition of 89.936% Issued Share Capital in Banque Internationale a Luxembourg S.A." (PDF) (Press release). Legend Holdings. 1 September 2017. Retrieved 3 September 2017.
  7. ^ "Legend Holding gets regulatory green light for BIL purchase". luxtimes.lu. Retrieved 2018-12-11.
  8. ^ "Purchase complete: Legend Holdings acquires BIL - Delano - Luxembourg in English". Delano (in French). 2018-07-02. Retrieved 2018-12-11.
  9. ^ "CSSF issues BIL with hefty fine - Delano - Luxembourg in English". Delano. 2020-08-10. Retrieved 2021-05-17.
  10. ^ "La BIL présente des bénéfices 2020 en berne". Luxemburger Wort - Edition francophone (in French). 2021-04-29. Retrieved 2021-05-17.

External links[]


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