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Banque Internationale à Luxembourg opens a Representative Office in Beijing, China. Internationale à Luxembourg opens a Representative Office in Beijing, China.<p>With the arrival of Legend Holdings as its shareholder, expanding on the Chinese market was only natural for BIL. The bank aims to play a greater role in promoting business exchanges as well as economic and trade cooperation between China and Luxembourg. BIL has already established increasingly closer cooperation with Chinese companies and entrepreneurs to help them do business in Europe. In addition, BIL works closely with the Luxembourgish branches of Chinese banks.</p> <p>Pierre Gramegna, Minister of Finance, Luxembourg commented: “<i>A leading European financial centre, Luxembourg plays an important role as a gateway to the EU for Chinese financial institutions and as a hub for cross-border investment between China and Europe. The opening of BIL’s representative office in Beijing, the first by a Luxembourg bank, will further help to cement Luxembourg’s bridging role. With the backing of Legend Holdings, a solid and reputable shareholder, I am confident that BIL will be able to bring Chinese firms and investment to Europe and support European businesses and investors in China</i>”.</p> <p>Zhu Linan, President of Legend Holdings, added: ”<i>China and Luxembourg, the world's second largest economy and one of the world's leading financial center, have strong complementarity to each other, especially when the current macroeconomic and political environment allows more further cooperation and win-win opportunities for both sides in all aspects. Benefiting from Luxembourg's special position as a gateway to European markets, BIL can play a special role in promoting cooperation between China and Luxembourg and furthermore Europe</i>”.</p> <p>Luc Frieden, Chairman of the Board of BIL, said: “<i>Although Luxembourg will of course remain the core market for BIL, China as a fast growing and leading economy offers great potential for our bank in the global economy. The representative office in Beijing will enable BIL to help strenghtening the economic relationship between Luxembourg and China</i>”.</p> <p>Marcel Leyers, CEO of BIL, said: “<i>From our Luxembourgish and Swiss offices, we offer clients top-notch services thanks to country experts who master the specific business and regulatory environment. Our Representative Office in Beijing will help us provide tailored support to companies, business owners, and individuals in China who want to invest and develop their business in Europe</i>”.</p> <p>The event was held during a visit of a Luxembourg For Finance delegation. Ambassador to China Marc Hübsch, Luxembourg for Finance CEO Nicolas Mackel, Senior Vice President of Legend Holdings and deputy Chairman of BIL’s Board of Directors Li Peng and other Senior executives of Legend Holdings and BIL attended the ceremony.</p>9/17/2019 1:00:00 PM
Banque Internationale à Luxembourg and Bank of China (Luxembourg) sign cooperation agreement Internationale à Luxembourg and Bank of China (Luxembourg) sign cooperation agreement<p>Bank of China was the first Chinese bank to establish a branch in Luxembourg in 1979. BIL and Bank of China have a long history of working together. With this agreement, they intend to further develop their business collaboration. Both banks can leverage their respective expertise and services on their domestic market to bring top-notch services to corporate clients in Europe and in China. </p> <p>The agreement outlines an ambitious plan to collaborate in the fields of:</p> <ul class="list-check"> <li>Corporate finance,</li> <li>Financial market activities, </li> <li>Treasury activities,</li> <li>Joint marketing events and product development.</li> </ul> <p>Marcel Leyers, Chief Executive Officer of BIL, commented: “<i>Since Legend Holdings acquired a majority stake in BIL last year, China has become a new market for the bank. BIL aims to be an investment bridge between China and Europe, and the collaboration with Bank of China is a perfect example. Both of us are committed to strengthening a mutually beneficial relationship and this agreement allows us to explore more opportunities together, in Europe and China.</i>”</p> <p>Zhou Lihong, General Manager, Bank of China Luxembourg Branch, commented: "<i>BOC Luxembourg aims to further strengthen the comprehensive strategic partnership on a bilateral beneficial basis between BIL and BOC Luxembourg, and the successful expansion in the financial market business across Europe and China.</i>”</p>7/12/2019 10:00:00 AM
BIL’s Open Banking platform now accessible for developers’s Open Banking platform now accessible for developers<p>Covered in particular by the second European Payment Services Directive (PSD2), the Open Banking concept encourages banks to open their information systems up to third party providers (TPP). With its new Open Banking platform, BIL will be able to collaborate with these third parties (online merchants, fintechs, partner companies, etc.) to offer even more services to its clients.</p> <p>The bank is now offering external developers an initial application programming interface (API), giving access to account information (balance and transactions) and enabling payments. Developers will be able to test and use this API to offer BIL clients account aggregation services and payment services.</p> <p>Of course, this collaboration is completely transparent and secure for clients. They choose the service that they wish to use, and their consent is needed for a third party to access their information or initiate a payment. These third parties must also be certified by a financial regulator of a member country of the EU.</p> <p>“<i>Financing needs, investment products, mobile payments: our strategy aims to make our clients’ daily life easier by offering them new digital experiences. Open Banking is a great opportunity for accelerating innovation in financial and non-financial services</i>”, said Olivier Debehogne, Head of Retail, Private Banking Luxembourg and Digital at BIL.</p> <p>Yves Baguet, Chief Operating Officer, added: “<i>With our Open Banking platform, we have a powerful tool built for developers. It is also a catalyst for our digital transformation. We will keep improving it to provide an easily accessible, high-performing development ecosystem that guarantees our clients’ security.</i>”</p> <p>Are you a developer? Go to <a href="" tagert="_blank"></a></p>6/25/2019 12:00:00 PM



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