MatthewGarcia
New Member
Posts: 9
Status: Offline
Joined:
pm
| | Overview of banks of Luxembourg (2nd Oct 22 at 3:51pm UTC) | | Today, banking accounts for the largest share of the Luxembourg economy, estimated by net worth and turnover. Already in 2017, according to data from the Global Financial Centers Index, Luxembourg was ranked as the 18th most competitive financial center in the world, at the same time taking third place in the level of competition among banks in the European Union. Luxembourg has a narrow specialization in the cross-border financial management industry. Since Luxembourg's internal market is quite small, the country's financial center is predominantly internationally oriented.
Today there are a total of 144 banks in Luxembourg. Over 120 of them are actually branches and subsidiaries of international banks. The Luxembourg financial sector is currently one of the largest contributors to the domestic economy. The total net worth of Luxembourg banks is roughly estimated at almost 760 billion euros. Luxembourg is also the second largest global investment hub after the US.
Below is an overview of the top 6 largest commercial banks in Luxembourg.
Deutsche Bank Luxembourg S.A.
Total assets in 2015: ~ €80,023,000,000
Total annual profit in 2015: ~ €289,000,000
One of the largest German banks - Deutsche Bank successfully founded a subsidiary bank on the territory of Luxembourg back in 1970. At that time it was one of the first foreign subsidiary banks in the period after the Second World War. Deutsche Bank Luxembourg was one of the first financial institutions to be incorporated into the state. Today, Deutsche Bank Luxembourg S.A. Wealth management services for high net worth individuals and clients, originates international lending and provides agency services, corporate banking and investment, and investment services for private clients.
CACEIS Bank Luxembourg
Total assets in 2015: ~ €46,082,000,000
Total annual profit in 2015: ~ €84,000,000
CACEIS comes from France. She specializes in fund management. CACEIS is part of the Credit Agricole Group - a French banking cooperative made up of 39 smaller local banks. The bank was founded in 2003 and is now one of the largest financial institutions in the country. CACEIS offers a wide range of services, including various types of deposit and custody-related services, wealth management, transfer agencies, and institutional and corporate banking services.
Banque et Caisse d'Epargne de l'Etat (BCEE)
Total assets in 2015: ~ €42,797,000,000
Total annual profit in 2015: ~ €230,000,000
Banque et Caisse d'Épargne de l'État (also known as BCEE) is currently the largest domestic financial institution in Luxembourg. Better known as Spuerkeess in the local language, it was founded in 1856 and has been wholly owned by the State of Luxembourg ever since. The bank offers a wide range of commercial and corporate banking services, including fund administration, project investments and narrowly specialized private banking. The bank's long-term credit rating according to Moody's is Aa2, which is a high grade.
Societe Generale Bank & Trust
Total assets in 2015: ~ €36,399,000,000
Total annual profit in 2015: ~ €406,000,000
Societe Generale Bank & Trust is one of the oldest international financial institutions based in Luxembourg. It was originally established as a branch bank of Société Générale Alsacienne de Banque (also known as OGENAL). Formerly known as Luxbanque Société Luxembourgeoise de Banque S.A. well-known bank changed its name to Société Générale Bank & Trust S.A. in 1995. changed. Societe Generale Bank & Trust currently offers a wide range of banking services and products including wealth management, securities trading and fund administration, providing corporate finance services both in Europe and worldwide.
BGL BNP Paribas
Total assets in 2015: ~ €32,969,000,000
Total annual profit in 2015: ~ €152,000,000
Banque Générale du Luxembourg (also known as BGL) was founded as a local bank back in 1919. In 2009, BGL became part of the international BNP Paribas Group. Today, Banque Générale du Luxembourg offers banking products mainly in the private customer business, in individual asset management and in investment banking for corporate and institutional customers and in fund management. BGL BNP Paribas' long-term credit rating according to Moody's is A1, which corresponds to upper middle class.
UniCredit Luxembourg S.A.
Total assets in 2015: ~ €19,728,000,000
Total annual profit in 2015: ~ €64,000,000
https://www.confiduss.com/en/banks/list/luxembourg/ | |
|
:: 
:: 
:: 
:: 
