Biggest Banks in Luxembourg in 2024 – Top 10 Financial Institution l

10 Best Banks in Luxembourg - Financial Institution

This post is about list of Best and Biggest Banks in Luxembourg, an overview of financial institutions in Luxembourg, via Afrokonnect. It is possible that only a small number of people are aware that Luxembourg is a leading global financial center.

Luxembourg is renowned for having an economy that is highly developed, stable, and diverse. Banking and financial services form a key component of Luxembourg’s overall economic structure.

For this reason, it’s worth noting that total banking assets are more than GDP by a factor of 15.60, which in itself is indicative of the sector’s importance to the economy as a whole.

By way of comparison, the United States is the largest investment fund hub in the world, making Luxembourg the second largest.

Private and Public Banking Luxemburg – Segments:

At the end of the year, there were a total of 141 banks operating in the country of Luxembourg. Of these, 137 held a universal banking license, while the remaining four banks in Luxembourg held a mortgage-bond banking license.

One hundred twenty-five of these are branches and subsidiaries of foreign banks, with the remaining 46 being independent foreign financial institutions.

There are 145 banks in Luxembourg, but only 20 of them are local. This fact alone should be sufficient to demonstrate the importance of international banking and investment to Luxembourg’s economy.

In addition, mentioning the fact that the financial sector accounts for no less than a quarter of the GDP is not out of place at all and should not be omitted.

Top 10 Biggest Banks in Luxembourg – Financial Institutions in Luxemburg

Let’s have a look at the top 10 banks in Luxembourg and become acquainted with each one in greater depth.

1. Societe Generale Bank & Trust

When it comes to banks in Luxembourg, this is one of the best. It has been in operation for close to 120 years, and it was initially established as a branch of the Société Générale Alsacienne de Banque.

It was rebranded as Société Générale Bank & Trust S.A. in 1995, having previously been known as Luxe Banque Société Luxembourgeoise de Banque S.A.

In addition to providing corporate financing services in the countries of the European Union and other regions of the world, this financial institution is well-known for its wide range of specialized services,

Which include providing securities services to institutional investors and private banking services to high-net-worth individuals.

  • Annual Net Profit or Loss (EUR Million): 310.1

2. Banque de Luxembourg S.A.

Banque de Luxembourg provides a comprehensive selection of financial goods and services to its customers.

Professional banking services and asset management tailored to the unique requirements of clients both locally and abroad have helped it grow into one of Luxembourg’s leading banks.

The services provided by this bank in Luxembourg include, among other things. The management of investment funds and portfolios, the management of stock market investments, and the dealing in money market instruments.

Banks in Luxembourg that are affiliated with Banque de Luxembourg additionally provide clients with a comprehensive selection of wealth management services and private banking facilities. It is a part of Crédit Industriel et Commercial and operates as a subsidiary.

  • Total Assets on the Balance Sheet (in Millions of Euro): 13,414.8.

Best Banks in Luxembourg: (Financial Institutions)

3. BGL BNP Paribas

Banque Générale du Luxembourg (BGL) was established in 1919; In 2009, it was acquired by BNP Paribas Fortis SA/NV and changed its name to BNP Paribas Fortis Luxembourg.

Banks affiliated with Banque Générale du Luxembourg (BGL) in Luxembourg cater to the varying needs of its customers by providing a comprehensive range of domestic and international banking services,

Including retail and corporate banking, wealth management, corporate and institutional banking, and more.

Among international financial institutions, the A1 (upper-medium grade) long-term credit rating held by the Luxembourg branch of BGL BNP Paribas gives it an edge.

  • Annual net Profit (in EUR Million): 185.4

4. Spuerkeess – Banque et Caisse d’Epargne de l’Etat (BCEE)

This wholly-owned subsidiary of the state of Luxembourg was established all the way back in 1856.

In Luxembourgish, it is known as Spuerkeess, and in French, it is known as Banque et Caisse d’Epargne de l’Etat (BCEE).

Retail banking and private banking services that are specifically designed for each client have made this financial institution a household name.

According to Moody’s, BCEE has a long-term credit rating of Aa2, which is considered to be a high grade, highlighting the bank’s status as a high-end lending institution.

  • Annual net Profit (in EUR Million): 240.5

Biggest Banks in Luxembourg

5. Banque Internationale à Luxembourg

Banque Internationale à Luxembourg is the oldest private banking group in the country, having been established in 1856.

They provide a wide range of retail and corporate financial services, in addition to private banking operations that are specialized.

Banque Internationale à Luxembourg banks in Luxembourg have a long-term credit rating of A3 from Moody’s. These banks are owned by Legend Holdings and the government of Luxembourg (upper-medium grade).

  • Annual net Profit (in EUR Million): 129.8

6. Deutsche Bank Luxembourg S.A.

Even though its parent company, Deutsche Bank Aktiengesellschaft, has been around since the early 1900s. Deutsche Bank Luxembourg S.A. didn’t open for business until 1970, making it a relative newcomer to Luxembourg’s long-standing banking industry.

They are experts in the administration of private wealth, structured finance, the provision of tailor-made financing solutions to enterprises of varying sizes,

And the provision of assistance to financial intermediaries, investors, and issuers by fulfilling a variety of diverse financial tasks.

7. UniCredit Luxembourg

Since its founding in 1971, UniCredit Luxembourg has provided a wide variety of financial and credit solutions to small and medium-sized businesses, in addition to structured finance services.

Treasury and business services, the provision of solutions for asset management, and the development of specific solutions for corporations, real estate clients, and equity funds are some of the other areas in which we concentrate our efforts. The parent company of UniCredit Luxembourg is known as UniCredit Bank AG.

Best Banks in Luxembourg: Financial institutions in Luxembourg

10 Best Biggest Banks in Luxembourg - Financial Institution


8. Intesa Sanpaolo Bank Luxembourg

Intesa Sanpaolo Bank Luxembourg is one of the banks in Luxembourg that operates as a subsidiary of Intesa Sanpaolo Holding International. The bank was established in Luxembourg in the year 1976.

It is well-known that the bank provides individualized approaches to problem-solving in retail as well as commercial banking services.

In addition to that, this financial institution meets its customers’ numerous requirements for investment banking services. Before October 2015, the financial institution was known as Societe Europeenne de Banque.

9. NORD/LB Luxembourg

NORD/LB Luxembourg Covered Bond Bank was established in the city of Luxembourg in 1972.

The bank currently provides a variety of financial solutions, products, and banking services in the countries of Luxembourg, Germany, Switzerland, the United States of America, and a number of other European nations.

Its primary concentration is on the issuance of covered bonds, and it provides the whole spectrum of currency management services, in addition to sales and loans, B2B client services, account and deposit management, and various other financial management functions.

NORD/subsidiary, LB’s the Nord/L.B. Luxembourg S.A. Covered Bank, performs banking operations. Formerly known as the Norddeutsche Landesbank Girozentrale, the bank didn’t adopt its present moniker until May of 2015.

10. DZ Privatbank S.A.

DZ Privatbank is a Luxembourg-based subsidiary of D.Z. Bank AG that was founded in 1977.

Since then, it has garnered a strong reputation in the banking industry for providing comprehensive services to private consumers as well as corporate clients.

In addition to this, it participates in activities on the money market and transactions involving foreign exchange and it provides a range of services related to these activities that are tailored to meet the specific requirements of individual customers. The company that is currently known as SZ Privatbank S.A. was formerly known as D.Z.

Biggest Banks in Luxembourg: Overview of Top financial institutions in Luxembourg

We really hope that you found this guide to the best banks in Luxembourg to be helpful.

Let us know what you think via the comment section below.



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