Banque Internationale à Luxembourg

Banque Internationale à Luxembourg S.A. (BIL) founded in 1856, a key player in the Luxembourgish Financial Market.

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

BIL is the oldest multi-business bank in Luxembourg. Since its foundation, the Bank has always played an active role in financing Luxembourg’s economy. The Group has also dedicated wealth management offices in Switzerland and China as well as trading floors in Luxembourg and Zurich. In addition, BIL Group subsidiaries in Luxembourg offer specialized services: Belair House (family office and investment management), BIL Manage Invest (alternative fund management), BIL Lease (leasing solutions) and BIL Corporate and Fund Services. With over 2,000 employees and thanks to its local and international network, BIL offers bespoke and innovative financial services which help private wealth and businesses to flourish and support financial professionals in developing their activities.

History

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

In 1982, the BIL opened a subsidiary in Singapore.[1] The BIL was acquired by Dexia in 1999.[2]

In 2012 Dexia sold BIL for €730 million to Precision Capital,[3] which also owned KBL European Private Bankers. In 2015, the BIL closed its Singapore subsidiary.[1]

In 2017, Legend Holdings announced it was acquiring a 90% stake in the bank from Precision Capital for €1.484 billion.[4][5] In July 2018, the procedure was approved by the Luxembourg regulator (CSSF) and the European Central Bank.[6][7]

From 2018 to 2020, BIL received multiple rewards including ''Best Bank in Luxembourg''.

In August 2020, the CSSF fined the BIL €4.6 million for failings in applying anti-money laundering policies.[8] In 2020, the bank reported a decrease of 10% of its annual results.[9]

In June 2021 BIL reported a net income after tax: EUR 47 million, +18% (EUR 40 million as at 30.06.2020)

See also

References
  1. "BIL To Close Its Office in Singapore as Part of a New Strategic Framework". www.businesswire.com. 2015-05-13. Retrieved 2021-05-17.
  2. Sébastien Buron (11 January 2007). "Manager de l'Année" (PDF). Levif.be (in French). Retrieved 12 September 2017.
  3. "Closing of the sale of Banque Internationale à Luxembourg" (PDF). Dexia. 5 October 2012. Retrieved 13 April 2016.
  4. "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.
  5. "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.
  6. "Legend Holding gets regulatory green light for BIL purchase". luxtimes.lu. Retrieved 2018-12-11.
  7. "Purchase complete: Legend Holdings acquires BIL - Delano - Luxembourg in English". Delano (in French). 2018-07-02. Retrieved 2018-12-11.
  8. "CSSF issues BIL with hefty fine - Delano - Luxembourg in English". Delano. 2020-08-10. Retrieved 2021-05-17.
  9. "La BIL présente des bénéfices 2020 en berne". Luxemburger Wort - Edition francophone (in French). 2021-04-29. Retrieved 2021-05-17.


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