| BIL is joining forces with the FinTech EDEBEX to offer a new invoice factoring solution to businesses and the self-employed | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-is-joining-forces-with-the-FinTech-EDEBEX-to-offer-a-new-invoice-factoring-solution-to-businesses-and-the-self-employed.aspx | BIL is joining forces with the FinTech EDEBEX to offer a new invoice factoring solution to businesses and the self-employed | | <p>By opting for BIL’s invoice factoring solution, in partnership with the FinTech Edebex, businesses can accelerate their cash flow. All B2B companies, regardless of their size or business sector, can access it. What matters is the quality of the invoices sold on the Edebex platform. Companies sell their invoices before their due date, which allows them to have access to their money faster without having to deal with debt recovery. This solution supplements the usual cash management services offered by BIL, such as personal loans.</p>
<p>Jeffrey Dentzer, Deputy CEO of BIL states:
<br>“<i>At BIL, we understand the crucial role businesses play in our economy. For that reason, we are committed to developing innovative financial solutions, such as our new invoice factoring solution, in partnership with Edebex. This solution offers businesses and the self-employed quick and efficient access to a new source of cash, thus illustrating our ongoing commitment to supporting SMEs and large businesses in their journey to growth and success.</i>”</p>
<p>Wim De Ridder, Edebex CEO adds:
<br>“<i>We are delighted to have forged this partnership with BIL. Together, we can support BIL’s clients in their search for growth-enabling financial solutions. We are honoured that our bespoke, flexible and accessible offering brings further added value to the portfolio of services already offered by BIL. With more than 10 years of expertise, we are adapting our skills to suit all business areas, thus meeting each need with agility and efficiency.</i>”</p>
<p>To access BIL’s invoice factoring service using the Edebex platform, companies choose which invoices they wish to sell. For an invoice to be eligible, the corresponding services or products must have been delivered to the client and there must be at least a 30-day period between the date of issuing the invoice and its due date. Finally, creditor clients must be established in a selection of European countries. For BIL, this invoice factoring service is yet another demonstration of its intention to supply innovative solutions that meet the needs of businesses and the self-employed. Full details on the terms and conditions of use of this service can be found at <a href="https://www.bil.com/static/factoring/index-en.html">www.bil.com/factoring</a></p> | 3/7/2024 11:00:00 AM | EN | BIL is announcing the launch of its invoice factoring solution using Edebex’s the platform. This partnership means BIL can propose an innovative cash solution to businesses and the self-employed. | | |
| BIL strengthens the Leadership of its Commercial Franchises | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-strengthens-the-Leadership-of-its-Commercial-Franchises.aspx | BIL strengthens the Leadership of its Commercial Franchises | |
<p><b>Jeffrey Dentzer appointed Deputy Chief Executive Officer</b></p>
<p>Jeffrey Dentzer will work hand in hand with CEO Marcel Leyers to oversee the on-going transformations and define the next five-year strategic plan of the Bank.
Jeffrey served as Chief of Luxembourg Market & CIB and Member of the Management Board of BIL since January 2020. At this position he was leading the Bank’s three main businesses on its domestic market: Retail Banking, Wealth Management and Corporate and Institutional Banking. Jeffrey is a seasoned Luxembourgish banker with extended experience in commercial and management roles in Luxembourg systemic banks.</p>
<p><b>Karin Scholtes appointed Chief of Luxembourg Market & CIB</b></p>
<p>Karin Scholtes will replace Jeffrey Dentzer as the new Chief of Luxembourg Market & CIB. She has been working for BIL since 2014 as Global Head of People, Culture and Communication and Member of the Management Board since 2019. Karin comes with broad experience in people management, marketing and communication in the banking industry. Prior to joining BIL, Karin has worked for 14 years at Pictet & Cie (Europe) S.A.</p>
<p><b>Claude Eyschen appointed Head of Wealth Management</b></p>
<p>Claude Eyschen joins BIL from CapitalatWork, where he has been Managing Director for Luxembourg since 2011. With his close to 30 years of experience in private banking and financial services, Claude will lead the Private Banking activities in Luxembourg and European markets as well as the Investment Office.
Claude is well-known to BIL as he had been its Head of Institutional and Corporate Sales as well as Market Leader for Private Banking from 1995 to 2011.</p>
<p><b>Emilie Serrurier-Hoël appointed Head of the CEO Office</b></p>
<p>Emilie Serrurier-Hoël will oversee Human Resources, Corporate Communications, Projects and the Organisation of the Bank. Prior to this role, Emilie Serrurier-Hoël was the Head of Wealth management. She has worked for BIL for more than 16 years in various strategic roles such as process management, marketing and strategy, before becoming Head of Wealth Management in 2020. Her excellent understanding and deep knowledge of the Bank will allow her to bring people and processes together, for the benefit of our clients.</p>
<p>“These appointments underline our commitment to put clients at the heart of everything we do and strike a good balance of new leaders who recently joined BIL, and others who have proven their capacity to lead BIL’s teams over the years.” said Marcel Leyers, CEO of BIL. “As we start a new chapter of the Bank’s sustainable growth story, the Executive Committee and all our teams at BIL will work on strenghtening our capabilities and services and will ensure that our clients, be they individuals or corporates, remain our priority in the years ahead,” he added.</p>
<p>For more information about BIL’s entire Executive Committee, visit <a href="https://www.bil.com/en/bil-group/the-bank/Pages/Governance.aspx"> https://www.bil.com/</a>.</p> | 1/11/2024 11:00:00 AM | EN | To prepare for the future and ensure a strong focus on client centricity, Banque Internationale à Luxembourg (BIL) is pleased to announce a reinforced team at the level of its Executive Committee, effective as of January 1st. | | |
| Six major financial services players in Luxembourg join forces to create a shared ATM network | https://www.bil.com/en/bil-group/pressroom/news/Pages/Six-major-financial-services-players-in-Luxembourg-join-forces-to-create-a-shared-ATM-network.aspx | Six major financial services players in Luxembourg join forces to create a shared ATM network | | <p><b>Spuerkeess</b>, <b>Banque Internationale à Luxembourg</b>, <b>BGL BNP Paribas</b>, <b>Banque Raiffeisen</b>, <b>POST Luxembourg</b> and <b>ING Luxembourg</b> aim to provide their clients with access to a broad ATM network with optimal coverage across the Grand Duchy of Luxembourg by 2025.</p>
<p>Management of the network will be entrusted to a new company operating under the Bancomat brand name.</p>
<p>This joint network will make it possible:</p>
<ul class="list-check">
<li>To guarantee proximity and access to self-service banking through an optimal and balanced spread of ATMs throughout Luxembourg, in both urban and less densely populated rural areas.</li>
<li>To meet new expectations of individuals, retailers and businesses for self-service banking with state-of-the-art, secure ATMs.</li>
<li>For people with reduced mobility and visual impairments to easily access the ATMs, thanks to lower keyboards and an audio option.</li>
<li>To develop the range of services and functions available on the ATMs.</li>
</ul>
<p>The new ATMs will also help reduce the network’s carbon footprint:</p>
<ul class="list-check">
<li>A recycling function will be integrated: banknotes deposited by clients will be distributed during withdrawals, thereby reducing the need for cash transport.</li>
<li>Their new technology will reduce energy consumption by at least 30% compared with current ATMs.</li>
</ul>
<p>Pooling the ATM networks of the six partners will not involve any additional costs for clients, who will continue to benefit from the services provided by their bank throughout Luxembourg.</p>
<p>Find out more about the progress of this project at: <a href="https://www.bancomat.lu/index-en.html" target="_blank">www.bancomat.lu</a>.</p>
<p>Contact: <a href="mailto:info@bancomat.lu">info@bancomat.lu</a></p>
| 11/21/2023 11:00:00 AM | EN | Spuerkeess, Banque Internationale à Luxembourg, BGL BNP Paribas, Banque Raiffeisen, POST Luxembourg and ING Luxembourg are joining together to create a broad-based ATM network. | | |
| Activity report 2022-2023 | https://www.bil.com/en/bil-group/pressroom/Pages/activity-report-2022.aspx | Activity report 2022-2023 | | <style>
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<iframe width="100%" style="margin-top: 50px;border: 0px; height: 500px;" src="https://e.issuu.com/embed.html?backgroundColor=%232d2d2d&backgroundColorFullscreen=%232d2d2d&d=bil_rapport-annuel_2023&hideIssuuLogo=true&logoImageUrl=https%3A%2F%2Fwww.bil.com%2FPublishingImages%2Flogo.png&u=bil2020" ></iframe> | 10/5/2023 4:00:00 PM | EN | You, our clients and partners, and We, Banque Internationale à Luxembourg. Discover our Bank, our services and our philosophy in this 2022-2023 activity report. | | |
| Supporting clients in a complex environment | https://www.bil.com/en/bil-group/pressroom/news/Pages/Supporting-clients-in-a-complex-environment.aspx | Supporting clients in a complex environment | | <p>Over the past 12 months, central banks around the world are raising interest rates to curb the highest levels of inflation seen in decades, and tightening financial conditions. This environment, not seen in years, brings new challenges which BIL is closely monitoring. As a systemic bank, it is following a prudent approach. Risks are identified and managed consistently. BIL has strong financial fundamentals, as shown by the recent ECB Stress Test exercise. Its CET1 ratio stands at 13.63% and it LCR at 154.4%. With robust levels of capital and liquidity, BIL is a reliable partner for all its clients. </p>
<p>Marcel Leyers, CEO of BIL commented:
<br>“<i>In the complex environment we are currently navigating, the mission of our teams is first and foremost to support our clients and to ensure them of our undivided support. The combination of this relentless work, our resources and our capabilities continued to drive growth in 2023.</i>”</p>
<p>During the first half of the year, BIL strengthened its services aimed at entrepreneurs and individual clients with an entrepreneurial mindset. It focused on supporting its clients on its key commercial markets from its hubs in Luxembourg, Switzerland and China. The Group has also made significant progress on its sustainable development action plan, building up skills and awareness on ESG requirements and expanding its ESG investment and financing offering.</p>
<p><b>A sound financial performance</b></p>
<p>BIL’s net income after tax reached 103 million euros in June 2023 compared with 68 million euros in June 2022. This increase is driven by solid revenues from commercial activities and efficient cost control. To be noted, an increase of the cost of risk, due to prudent provisioning in line with the interest rate increase and inflation.</p>
<p>BIL focused on proactively helping clients navigate the current environment of rising interest rates. Client deposits decreased by 6.8% to 19.6 billion euros as they moved their deposits to more remunerative products and also proceeded to the early repayment of their variable rate loans. Client loans slightly decreased to 16.4 billion euros down from 16.5 billion euros at the end of 2022. This decrease is linked to the continued general slowdown in mortgage loan production in Luxembourg, impacted by the rapid rise in interest rates decided by the ECB and delays in new construction projects caused by the current downturn in the real estate sector, the rising cost of raw materials, supply chain disruption and early reimbursement as clients are using their excess of liquidity to deleverage their investment profile. Assets Under Management increased to 44.1 billion euros compared with 43.5 billion euros at year end 2022 due to a positive market effect. </p>
The <a href="/Documents/brochures/semi-annual-report-2023-en.pdf" target="_blank">full 2023 semi-annual report</a> is available on bil.com.</p> | 9/4/2023 10:00:00 AM | EN | BIL delivered a sound financial performance during the first half of 2023, with a net profit of 103 million euros. | | |
| BIL Launches Google Pay Support for Visa Card Users in Luxembourg | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-Launches-Google-Pay-Support-for-Visa-Card-Users-in-Luxembourg.aspx | BIL Launches Google Pay Support for Visa Card Users in Luxembourg | | <p>Cardholders will be able to store their BIL Visa credit card within Google Wallet and make payments anywhere contactless payments are accepted using Android and WearOS devices.</p>
<p>Using Google Pay also makes payments safer with multiple layers of security, adding to the protections already provided by BIL Visa cards. This includes industry-standard tokenization, which means when you use your card stored in Google Wallet to pay, transactions are made using a virtual card number (a token). This token is device-specific and associated with a dynamic security code that changes with each transaction, providing an extra layer of protection from fraud. Also, if a client’s phone is ever lost or stolen, they can simply use the “Find my device” function to instantly lock the device from anywhere, secure it with a new password, or even wipe it clean of all personal information.</p>
<p>« <i>We constantly strive to improve our services and adapt to our clients lifestyle. Now with Google Pay, we are proud to offer them the largest number of mobile and online payment solutions in Luxembourg. </i>» commented Didier Richter, Head of Daily Banking and Payments at Banque Internationale à Luxembourg.</p>
<p>BIL works tirelessly to offer the best daily banking services to its clients. The Bank launched its new banking offers in 2022, with the focus on simplicity, more services, and competitive fees. Now with Google Pay, in addition to Apple Pay, Payconiq, Fitbit Pay and Garmin Pay, BIL offers the broadest selection of mobile payments solutions to its clients.</p>
<p>To start using your BIL Visa card with Google Pay, download Google Wallet from the Google Play Store and visit <a href="/static/BILnet/Google-Pay/index-en.html">Bil.com/Google-Pay</a> for step by step information.</p> | 5/10/2023 10:00:00 AM | EN | Starting today, BIL will support Google Pay, enabling BIL Visa cardholders to take advantage of simple and secure contactless payments and digital card storage. | | |
| A year of resilience in an uncertain environment | https://www.bil.com/en/bil-group/pressroom/news/Pages/A-year-of-resilience-in-an-uncertain-environment.aspx | A year of resilience in an uncertain environment | | <p><b>Key financial figures</b></p>
<ul class="list-check">
<li>Assets under Management : EUR 43.5 billion</li>
<li>Customer deposits: EUR 21 billion, +1.7%</li>
<li>Customer loans: EUR 16.5 billion, +0.8%</li>
<li>Total balance sheet: EUR 32.4 billion</li>
<li>Total revenues: EUR 645 million, +2%</li>
<li>Expenses: EUR 460 million, +4%</li>
<li>Net income: EUR 153 million, +13%</li>
<li>CET1 ratio: 14.03% after profit allocation<sup>1</sup></li>
<li>Liquidity Coverage Ratio (LCR) : 153%</li>
</ul>
<p><b>Staying the course in turbulent times</b></p>
<p>After two years marked by the COVID-19 pandemic and the recessionary shock it caused, the strong economic rebound and the return of inflation in 2021, 2022, marked by the Russia-Ukraine conflict, proved to be no less challenging. This radical change of macroeconomic environment significantly impacted Europe given its exposition to the conflict. However, Luxembourg’s economy proved once again its resilience. Notwithstanding signs of slowing down of the construction sector, and of demand for mortgages, private consumption maintained a good level, supported by additional measures introduced by the Government’s “Solidaritéitspak”.
In this challenging context, BIL ensured its clients, entrepreneurs, corporate and individual, of its undivided support to bring their projects to life and to offer them innovative financial solutions. To support the economy, BIL joined the Luxembourg Government’s loan guarantee scheme intended for Luxembourgish companies experiencing difficulties due the substantial rise in commodity and energy prices caused by the conflict in Ukraine.
The Bank also stayed on course on the roll out of its transformative five-year strategic plan, Energise Create Together 2025. In 2022, BIL focused on supporting its clients on its key commercial markets, expanding its sustainable product and service offering, and accelerating its bank-wide project, the implementation of its brand new core banking system.
</p>
<p><b>Resilient commercial activities leading to a strong performance</b></p>
<p>Despite turbulent times, commercial performance remained resilient during 2022. At 43.5 billion euros, Assets under Management marked a slight decrease compared to 2021. The Bank limited the impact of the negative market effect, attributed to the sharp decline on equity markets, by increasing net new assets under management.
Customer deposits increased by 1.7% to 21 billion euros, in the context of a favourable interest rate environment and heightened uncertainty compelling clients to be more cautious.
Customer loans increased by 0.8% to 16.5 billion euros. This limited growth is linked to a general slowdown in mortgage loan production in Luxembourg, due to the rise in interest rates, delays in new construction projects caused by the rising cost of raw materials and supply chain stress as a result of the Russia-Ukraine conflict.
</p>
<p>This commercial performance translated into total revenues of 645 million euros, up by 2% in 2022 and up by 8% excluding non-recurring items. The Bank’s commercial activities limited to core operating revenues stood at 589 million euros, compared with 548 million euros at year-end 2021. Commercial activities continued to recover from the impact of COVID-19 supported by the favourable impact of the interest rate environment during the second half of the year. Thanks to the Bank’s business model which facilitates cross-fertilisation, all activities contributed positively to this performance.
Expenses amounted to 460 million euros, up by 4%, compared with 2021. BIL continued to invest in talents and technology to be fit for the future. Recruitment and higher labour costs contributed to increase overall staff expenses. In addition, general expenses were impacted by higher energy costs and renewed business travel. To be noted that the Bank actively managed its loan portfolio, significantly improving the quality of its assets which allowed it to reduce the cost of risk, from 38 million euros in 2021 to 19 million euros in 2022.
The Bank reported a net income after tax of 153 million euros, up by 13%.
</p>
<p><b>Starting 2023 with determination</b></p>
<p>Uncertainties surrounding the global economy will remain high. The effects of the Russia-Ukraine conflict will still be prevalent. The recent difficulties of a small number of financial institutions in the USA and in Switzerland have caused instability on financial markets. As reaffirmed by the European financial supervisors, the European banking sector is resilient, with robust levels of capital and liquidity. BIL’s financial position is robust: its Common Equity Tier 1 ratio stands at 14.03% after 2022 profit allocation and its Liquidity Coverage Ratio at 153%. The Bank has no credit exposure with Credit Suisse and Silicon Valley Bank.
</p>
<p>Notwithstanding these uncertainties, BIL will keep its focus on the sound management of its activities, governed by its proven risk management framework. It will remain by the side of its clients and continue to be the bank of reference for entrepreneurs and private clients with an entrepreneurial mindset. For this, BIL will stay on course of its strategy and focus on finalising its bank-wide project, its new core banking system, while ensuring its ambitious commercial targets are met. It will pursue its journey towards more sustainability, constantly improving its business governance and processes, its direct and indirect environmental impact, and the social well being of its employees to allow them to fully develop their potential.
</p>
<p>Marcel Leyers, CEO of BIL, commented: « These are strong results in a context of shocks and transformation. They confirm the relevance of our strategic choices and of our comprehensive and loyal response to the needs of all our clients, be they individuals, entrepreneurs, and businesses. This performance was made possible thanks to the dedication of our teams. We have now started 2023 with determination, a year of transition in many respects.”
</p>
<p>The 2022 Financial report will be published on 27 April 2023 following the shareholders’ Annual General Meeting.
</p>
<p><sup>1</sup> Subject to shareholders’ approval at the Annual General Meeting on 27 April 2023</p> | 3/30/2023 10:00:00 PM | EN | Banque Internationale à Luxembourg (BIL) records a strong performance in a year of many challenges. Thanks to resilient commercial activities, and a favourable interest rate environment, the Bank successfully reported a net income of EUR 153 million. | | |
| Luc Frieden steps down as Chair of the Board of BIL | https://www.bil.com/en/bil-group/pressroom/news/Pages/Luc-Frieden-steps-down-as-Chair-of-the-Board-of-BIL.aspx | Luc Frieden steps down as Chair of the Board of BIL | | <p>During today’s ordinary Board meeting, the Board of Directors of BIL decided that Luc Frieden will be replaced ad interim by the Director and Chair of the Board Strategy Committee Jing Li until the ongoing nomination process of a new Chair is finalized.</p>
<p>Luc Frieden joined the Board of BIL as Chair in 2016 and has been playing a leading role in the governance and long-term development of the Bank. Under his chairmanship, the Bank has strengthened its risk framework, embarked on its sustainability journey and diversified its management bodies.</p>
<p>The shareholders of BIL, Legend Holdings and the State of Luxembourg, respect Luc Frieden’s decision and sincerely thank him for his steering of the Board.<br>
“<i>Thanks to his deep knowledge of the banking sector and its regulatory framework, Luc Frieden has layed the groundwork for BIL to continue its journey towards long-term success. We are grateful for his contributions and wish him all the best for his future.</i>”</p> | 3/16/2023 10:00:00 AM | EN | Following his decision to stand as head of list of his party in the upcoming Luxembourg general elections, Luc Frieden resigned today as Chair of the Board of Directors of Banque Internationale à Luxembourg (BIL). | | |
| BIL appoints Laurent Cooreman CEO of its family office Belair House | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-appoints-Laurent-Cooreman-CEO-of-its-family-office-Belair-House.aspx | BIL appoints Laurent Cooreman CEO of its family office Belair House | | <p>Laurent Cooreman, who will start his mission at Belair House on March 13, brings a wealth of experience and a deep knowledge of the real estate market to the bank. He has a strong track record in successfully working on major projects during his career. Before joining Belair House, he held the position of Managing Director and Member of the Board of CBRE Luxembourg office for 9 years, office that he also opened. He is the founder and owner of Square Meter, a company dedicated to the development of real estate partnerships in Luxembourg, including asset management, lease and sales coordination, valuations, project development and advisory. </p>
<p>Marcel Leyers, CEO of BIL: “<i>The real estate market is both an opportunity and a challenge for many of our corporate and wealth management clients and we are happy that we can increase our overall expertise in this field with Laurent Cooreman. This will strengthen our position as a solid Luxemburgish bank for entrepreneurs.</i>”</p>
<p>Jeffrey Dentzer, Chairman of the Board of Belair House and Head of Luxembourg Market and CIB at BIL: “<i>With Laurent Cooreman on the helm of Belair House we can offer dedicated and tailor-made service to our clients. With his arrival, we cover the full value chain of investing in real estate. This is a perfect addition for our core market in Luxembourg and the Greater Region. Belair House is uniquely positioned as a real estate family office and Laurent will help us to further develop our profile and offering.</i>”</p>
<p>Laurent Cooreman, CEO of Belair House: “<i>It is a great momentum to bring together equity, debt, real estate knowledge, experience and network through a dedicated platform aiming at client’s wealth preservation and growth. In today’s market, strategic and practical deployment of assets in the real estate market is key. We are all very excited to assist and work with current and future clients.</i>”</p> | 3/13/2023 11:00:00 AM | EN | In order to further increase the value proposal for its clients, BIL has taken an important step forward in hiring Laurent Cooreman as a CEO for Belair House. | | |
| Financial center players pool their AML/KYC processes within i-Hub | https://www.bil.com/en/bil-group/pressroom/news/Pages/Financial-center-players-pool-their-AML-KYC-processes-within-i-Hub.aspx | Financial center players pool their AML/KYC processes within i-Hub | | <p>In order to optimise and modernise their operational systems for documenting and understanding their customer relationships (KYC processes), Banque Internationale à Luxembourg, Spuerkeess and Banque de Luxembourg have signed up for a new and innovative digital solution for the management and storage of data and documents.</p>
<p><b>The 5 institutions</b> that subscribe to this solution will be able to better serve their clients, while automating an important part of their knowledge and documentation process necessary to attest the compliance of their business relationships.</p>
<p><b>Their Clients</b>, whether natural or legal persons, residents or non-residents, who will use this new digital solution will benefit from free access to a centralised and secure digital file allowing them to :</p>
<ul class="list-check">
<li>consult and update all their documents and identification data,</li>
<li>share, following their prior consent, their file with the i-Hub client institutions with which they have a business relationship.</li>
</ul>
<p>For Banque de Luxembourg, Banque Internationale à Luxembourg and Spuerkeess, the subscription to the i-Hub service is combined with the <b>acquisition of a stake in i-Hub’s equity capital</b>, which has already been approved by the supervisory authorities.</p>
<p>As Professional of the Financial Sector (PFS), i-Hub meets the strict requirements of data protection and security. i-Hub has equipped itself with highly secure, state-of-the-art technology, located exclusively within infrastructures in Luxembourg. By signing with Financial Centre’s major banks, i-Hub continues to offer innovative KYC management solutions and aims to become a trusted partner for all players subject to KYC/AML regulations.</p>
<p>Jeffrey Dentzer, Head of Luxembourg Market & CIB at Banque Internationale à Luxembourg said: “<i>Good cooperation between banks is one of the strengths of the Luxembourg financial center, especially when it comes to offering clients modern and digital solutions. We are pleased to become an i-Hub partner.</i>”</p>
<p>Fabrice Cucchi, Chief Transformation officer and member of the Executive Committee of BGL BNP Paribas said: “<i>We are very pleased with the arrival of these partners in the RegTech i-Hub which will improve the customer experience by offering them the possibility to share their KYC data and documents, and strengthen the competitiveness of the financial center by promoting the pooling of investments in the field of the constantly evolving AML/KYC regulation.</i>”</p>
<p>Pascal Morosini, CEO of i-Hub said: “<i>Serving banks bilaterally in outsourced mode (BPO) is one thing, allowing their clients to access their own digital files and share the common attributes of their business relationships is a great technological lead. Banks have understood the importance of outsourcing and pooling AML/KYC processes, which are becoming increasingly costly and time consuming to maintain. The step they are taking and the support they are giving us is historic and forward-looking for the Luxembourg financial center.</i>”</p>
<p>Claude Strasser, CEO of POST Luxembourg, said: “<i>The arrival of Spuerkeess, BIL and Banque de Luxembourg in i-Hub confirms the maturity of the proposed technological solution and will allow the mutualisation of banks’ KYC files to take full effect, it being understood that this mutualisation will be carried out in strict compliance with the clients’ consent. i-Hub will considerably facilitate the KYC processes of the regulated players but also of their clients. This is a real asset for the financial center.</i>”</p>
<p>Romain Weiler, Chief Operating Officer of Banque de Luxembourg said: “<i>i-Hub is a unique initiative and opportunity in Luxembourg, bringing together 5 of the leading banks in the financial center around a common ambition: to simplify the life of our clients by making the repetitive processes of documenting business relationships more fluid, both on the client’s side and on the banks’ side.</i>”</p>
<p>Françoise Thoma, CEO and Chairman of the Management Committee of Spuerkeess said: “<i>KYC (Know your customer) is an important element in the fight against financial crime and money laundering. i-Hub is a trusted partner that allows us to simplify the verification of a customer’s identity and thus speed up the opening of a bank account. This collaboration saves valuable time – both for us and our customers – but in a highly secure manner.</i>“</p> | 12/19/2022 2:00:00 PM | EN | Banque Internationale à Luxembourg, Spuerkeess and Banque de Luxembourg, join POST Luxembourg and BGL BNP Paribas in taking a financial stake in i-Hub. | | |
| €50,000 donated at BIL's Associations Day | https://www.bil.com/en/bil-group/pressroom/news/Pages/EUR50000-donated-at-BIL-Associations-Day.aspx | €50,000 donated at BIL's Associations Day | | <p>On its first Associations Day, BIL focused on health by inviting ten NGOs that strive to improve the quality of life of people suffering from illnesses or disabilities, and help them find employment. The NGOs presented their activities to BIL employees and at the end of the day, each association received a €5,000 cheque, totalling €50,000 in donations.</p>
<p>The NGOs are the following:</p>
<ul class="list-check">
<li>Fondation Cancer <a href="http://www.cancer.lu" target="_blank">www.cancer.lu</a></li>
<li>Fondation Kriibskrank Kanner <a href="http://www.fondatioun.lu" target="_blank">www.fondatioun.lu</a></li>
<li>Fondation Autisme Luxembourg <a href="http://www.fal.lu" target="_blank">www.fal.lu</a></li>
<li>Télévie <a href="http://www.televie.rtl.lu" target="_blank">www.televie.rtl.lu</a></li>
<li>ALAN – maladies Rares Luxembourg <a href="http://www.alan.lu" target="_blank">www.alan.lu</a></li>
<li>ELA Luxembourg <a href="http://www.ela-asso.lu" target="_blank">www.ela-asso.lu</a></li>
<li>Médecins du monde <a href="http://www.medecinsdumonde.lu" target="_blank">www.medecinsdumonde.lu</a></li>
<li>Île aux clowns <a href="http://www.ileauxclowns.lu/" target="_blank">www.ileauxclowns.lu/</a></li>
<li>La Main tendue <a href="http://www.lamaintendue.lu/" target="_blank">www.lamaintendue.lu/</a></li>
<li>Chiens guide d’aveugles <a href="http://www.chienguide.org" target="_blank">www.chienguide.org</a></li>
</ul>
<p>Marcel Leyers, CEO of BIL, commented: “<i>The work carried out by these organisations is remarkable. It is an honour for BIL to open its doors, to welcome them so we can learn more about their activities and support them financially.</i>”</p>
<p>This Associations Day is part of the bank's sustainable development strategy, which aims, in particular, to have a positive impact on the economy and local communities. Its focus on Luxembourg and support for local organisations are at the heart of its action. The bank and its employees are thus involved with numerous NGOs in the fields of education, health and the environment.</p> | 12/6/2022 5:00:00 PM | EN | On Monday 5 December, BIL donated €50,000 to ten Luxembourg non-governmental organisations. This donation reflects the bank’s ongoing support for organisations that work tirelessly to improve the living conditions of vulnerable people in Luxembourg. | | |
| Le Comité Olympique et Sportif Luxembourgeois (COSL) et la Banque Internationale à Luxembourg (BIL) s’unissent au service du mouvement sportif luxembourgeois | https://www.bil.com/en/bil-group/pressroom/news/Pages/Le-COSL-et-la-BIL-s-unissent-au-service-du-mouvement-sportif-luxembourgeois.aspx | Le Comité Olympique et Sportif Luxembourgeois (COSL) et la Banque Internationale à Luxembourg (BIL) s’unissent au service du mouvement sportif luxembourgeois | | <p>Monsieur André Hoffmann, Président du COSL, souligne que le COSL est fier de compter désormais parmi ses partenaires la BIL, une banque internationale ancrée au Luxembourg et tournée vers l’avenir : « <i>Il est de plus en plus difficile pour les acteurs du mouvement sportif privé de trouver de nouveaux partenaires, pourtant essentiels pour nous permettre d’accomplir nos missions au profit des sportifs et de la société tout entière. Nous sommes donc heureux de ce nouveau partenariat stratégique avec la BIL, pilier de la place financière luxembourgeoise, lequel nous permet de soutenir encore mieux nos fédérations membres ainsi que les athlètes et talents sportifs grand-ducaux à l’approche des grands rendez-vous internationaux des prochaines années et notamment des Jeux Olympiques de Paris en 2024.</i> »</p>
<p>Marcel Leyers, CEO de la BIL, a ajouté : « <i>La BIL est honorée de devenir partenaire principal du COSL. Nous partageons des valeurs essentielles comme le respect, l’esprit d’équipe et l’excellence. De plus, nos racines sont au Luxembourg et c’est une fierté pour nous de soutenir les athlètes de haut niveau qui vont porter les couleurs du pays aux compétitions sportives internationales telles que les Jeux Olympiques.</i> »</p>
<p>Cet engagement s’inscrit dans la stratégie de développement durable de la BIL. Le soutien à l'économie luxembourgeoise et le développement des communautés dans lesquelles la banque est présente sont au coeur de son action. Avec ses collaborateurs, c’est plus de 1800 personnes qui s’engagent aux côtés de nombreuses associations et ONG actives au Luxembourg.</p>
| 12/5/2022 10:00:00 AM | EN | C’est avec grand plaisir que le COSL accueillera à partir du 1er janvier 2023 un nouveau partenaire principal au sein du « Team Lëtzebuerg » : la Banque Internationale à Luxembourg. | | |
| Activity report 2021 | https://www.bil.com/en/bil-group/pressroom/Pages/activity-report-2021.aspx | Activity report 2021 | | <style>
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<iframe width="100%" style="margin-top: 50px;border: 0px; height: 500px;" src="https://e.issuu.com/embed.html?backgroundColor=%232d2d2d&backgroundColorFullscreen=%232d2d2d&d=bil_r-a_2022_single&hideIssuuLogo=true&logoImageUrl=https%3A%2F%2Fwww.bil.com%2FPublishingImages%2Flogo.png&u=bil2020" ></iframe> | 10/14/2022 9:00:00 AM | EN | Discover the essence of Banque Internationale through its Luxembourg heritage in and its national and international activities. | | |
| Creating value for our clients and society | https://www.bil.com/en/bil-group/pressroom/news/Pages/creating-value-for-our-clients-and-society.aspx | Creating value for our clients and society | | <p>Since its foundation in 1856, Banque Internationale à Luxembourg has been supporting the development of the economy, contributing to enhancing the country’s reputation. Collaboration with the local companies and development of the communities in which it operates are central to its sustainable development strategy. As the major challenges facing governments, businesses and individuals are global, BIL and its 2,000 employees are committed to a responsible economic transition and sustainable finance, in line with the Paris Agreements and United Nations Sustainable Development Goals.</p>
<p>“<i>We are a Luxembourgish bank, with an international reach. Since its foundation in 1856, BIL has been contributing to Luxembourg’s development, helping its businesses and residents in their endeavours. We engage with our employees to transition towards sustainable and responsible finance, offering products and services that, together with our clients, enable us to have a positive impact and to prepare solid ground for future generations.</i>”, said Marcel Leyers, CEO of Banque Internationale à Luxembourg.</p>
<p>To combine performance at financial, environmental, social and governance levels, Banque Internationale à Luxembourg designed and launched its sustainable development strategy in 2021. This is built around the development of lasting products and services, employer responsibility, and BIL’s impact on the economy and communities in which it is present.</p>
<p><b>Offering responsible products and services</b>
<br>BIL is committed to developing products and services that create value for its clients while contributing to a responsible economic transition and sustainable finance. 2021 brought tangible progress in this respect. Four funds from the BIL Invest Patrimonial range were awarded LuxFLAG ESG certification in September. These funds combine the opportunities provided by financial markets with environmental, social and governance (ESG) requirements. Managed by experts, these turnkey diversified funds meet the needs of beginner and expert investors alike. With low minimum investment amounts, they can be accessed on any budget.
<br>BIL also includes environmental consideration in its financing activity. The bank offers solutions – some of which are subsidised by the Luxembourg State – to help clients reduce their environmental impact. These include the renovation of homes and buildings, installation of solar panels, and purchase of hybrid or electric vehicles.</p>
<p><b>Promoting well-being at work</b>
In a constantly changing economic and professional setting, BIL places great emphasis on promoting the well-being of its staff, establishing inclusive working conditions, and encouraging skills development. BIL group has more than 1,800 members of staff in Luxembourg, and over 2,000 when its international subsidiaries are included. 44% are women and 56% men, with 49 nationalities represented. The bank is convinced that diversity is a key factor in performance, promoting an inclusive culture based on shared values. It is a signatory to the Lëtzebuerg Diversity Charter, a national undertaking by organisations committed to promoting and managing diversity. Skills development and ongoing training are also central to its efforts. More than 25,720 hours of training were provided in 2021.</p>
<p><b>Having a positive impact on the world around us</b>
BIL tries to have a positive impact on the communities in which it operates, and is firmly committed to the development of sustainable finance. BIL signed the United Nations Principles for Responsible Banking (UN PRBs) in November 2021. Further proof of its commitment, the bank incorporated its sustainable investment approach into its investment portfolio in 2021. As at 31 December 2021, ESG bonds accounted for 10.5% of its portfolio, i.e. a total of EUR 800 million.
<br>In addition to initiatives linked to its banking operations, BIL has introduced measures to reduce its environmental impact. For many years, the bank has been working to reduce its energy use. Waste management is also an important part of its work. BIL follows the waste management approach established by SDK, and has received SuperdrecksKëscht Fir Betriber (SDK) certification.
BIL also backs NGOs in education and healthcare. The bank supports no fewer than 16 organisations through donations and staff volunteering.</p>
<p>To read the 2021 non-financial report, please go to <a href="https://www.bil.com/sustainability/index-en.html" target="_blank">www.bil.com/sustainability</p> | 5/16/2022 11:00:00 AM | EN | BIL has published its new non-financial report, prepared according to Global Reporting Initiative standards for the first time. | | |
| BIL releases its Green Bond Framework | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-releases-its-Green-Bond-Framework.aspx | BIL releases its Green Bond Framework | | <p>BIL has implemented its Green Bond Framework with a clear commitment to support the growth of the sustainable finance market. The Bank will now be able to issue green bonds, guaranteeing investors their funds will be used for a sustainable purpose. Case in point, this is the first green bond framework guaranteeing the exclusive financing of energy-efficient real estate in Luxembourg. This will strengthen BIL’s sustainable strategy and have a positive impact on the local economy and communities.</p>
<p>Specifically, BIL will be able to issue public bonds and private placements. The net proceeds will be allocated exclusively to finance or refinance, in full or in part, new or existing loans and investments for existing or future green buildings. To be eligible, these must be located in Luxembourg, and demonstrate specific performances of energy efficiency, as defined in the framework. To design its Green Bond Framework, BIL worked in close collaboration with sustainability experts from the Luxembourg Stock Exchange, home to the Luxembourg Green Exchange (LGX), the world’s leading platform dedicated exclusively to sustainable finance and Natixis Corporate & Investment Banking, acting as structuring advisor.</p>
<p>Jérôme Nèble, BIL’s Head of Financial Markets said: “<i>BIL’s new Green Bond Framework is a key element of our sustainable strategy. Issuing green bonds will help us have a direct impact on the transition to a low carbon economy. We are looking forward to working with investors and clients to finance energy-efficient building projects.</i>”</p>
<p>The new Green Bond Framework is a key element of BIL’s environmental, social and governance (ESG) strategy. Since the definition and launch of this strategy in 2021, the Bank has made significant progress in developing responsible products and services that create value for its clients while contributing to a responsible economic transition and sustainable finance. Four of the funds of its BIL Invest range received the LuxFLAG ESG label for a period of one year. BIL has also become an official signatory of the UN Principles for Responsible Banking – a single framework for a sustainable banking industry developed through a partnership between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI).</p>
<p>Detailed information on Banque Internationale à Luxembourg Green Bond Framework is available on <a href="/en/bil-group/investor-relations/Pages/Index.aspx" target="_blank">bil.com</a>.</p>
| 5/6/2022 9:00:00 AM | EN | Banque Internationale à Luxembourg has released a new Green Bond Framework to support its sustainable strategy and the transition to a low carbon economy. | | |
| Strong 2021 Performance, Investing for Sustainable Growth | https://www.bil.com/en/bil-group/pressroom/news/Pages/Strong-2021-Performance-Investing-for-Sustainable-Growth.aspx | Strong 2021 Performance, Investing for Sustainable Growth | | <p><b>Key figures</b></p>
<ul class="list-check">
<li>Assets under Management (AuM): EUR 45.9 billion, +5.2%;</li>
<li>Customer deposits: EUR 20.7 billion, +4.6%;</li>
<li>Customer loans: EUR 16.3 billion, +6.1%.</li>
<li>Total balance sheet: EUR 32.4 billion, +6.2%</li>
<li>Total revenues: EUR 632 million, +15%</li>
<li>Expenses: EUR 442 million, +6%</li>
<li>Net income: EUR 135 million, +34%</li>
<li>CET1 ratio: 14.15%</li>
</ul>
<p><b>2021: the economy bounces back, BIL accelerates its transformation</b></p>
<p>After the pandemic-induced recession of 2020, 2021 saw the economy bounce back and return to pre-pandemic level. This fast recovery came with new challenges which have become a marker of 2021: supply-chain bottlenecks, shortages of supplies and the first signs of the return of inflation. Notwithstanding massive vaccination campaigns started in early 2021 in Luxembourg, the EU and globally, the pandemic continued to affect social interactions and business activities. For the banking sector, in addition to the pandemic and its consequences on commercial activities, persistently low interest rates, reinforced regulation, and increased competition from digital entrants remain the biggest challenges.
<br>To be fit for the future and become the best bank for entrepreneurs in Luxembourg, BIL embarked in 2020 on a transformative 5-year strategic plan. Thanks to its strong position in Luxembourg, coupled with major investments in its operations, its talents and with added focus on the strengthening of its wealth management business and on building bridges between Europe and China, BIL is well positioned to build sustainable growth, improve products and services and to be an employer of choice in the years to come. In the context of the on-going pandemic, agility and the capability to adapt proved to be essential, highlighting the need for faster changes.</p>
<p><b>A strong performance, driven by dynamic commercial activities</b></p>
<p>BIL Group reported a net income after tax of 135 million euros, a 34% increase compared with 2020, successfully navigating turbulent economic times.
<br>The Group’s increased focus on its core businesses and markets, combined with its ability to accompany clients and the economy in a comprehensive way sustained the increase of revenues. In 2021, total income amounted to EUR 632 million, up 15% compared with 2020. The core operating revenues of its commercial and financial markets activities reached EUR 573 million.
Negative interest rates continued to weigh on revenues but were compensated for by continued loan growth, which increased by 6.1% to EUR 16.3 billion. Assets under Management increased by 5.2% reaching EUR 45.9 billion, and customer deposits increased by +4.6%, reaching EUR 20.7 billion. In addition to the dynamism of commercial activities thanks to ongoing support to individual and business clients in their projects, non-recurring items, such as capital gains from the Bank’s investment portfolio and the partial sale of BIL’s stake in Bourse de Luxembourg S.A., also contributed to the growth of revenues in 2021.
<br>In this challenging, yet growing economic environment, BIL continued to invest heavily to be fit for the future. The implementation of a new core banking system, in the final stages of development, additional recruitment to boost human capital, and investments in regulatory requirements led to a 6% increase of expenses, reaching EUR 442 million.
The strong post-pandemic recovery of the Luxembourg economy and the bank’s main foreign market economies has also led to a significant improvement in the quality of assets, which had been impacted by the pandemic since the second quarter of 2020, and as a consequence, to a decrease of the core cost of risk by 40%.</p>
<p>Marcel Leyers, Chief Executive Officer of Banque Internationale à Luxembourg, commented: « <i>Thanks to the engagement of our teams and the strength of our services, Banque Internationale à Luxembourg achieved a strong performance in 2021. This performance acknowledges our long-term commitment towards our retail, private and corporate banking clients, and it confirms our major role in financing the economy. </i> »</p>
<p><b>2022: a defining year</b></p>
<p>Uncertainties surrounding the global economy will remain high throughout 2022. BIL Group is closely monitoring the ongoing conflict between Russia and Ukraine. From a risk management perspective, BIL’s exposure to Russia is relatively small. The direct impacts of the conflict on the 2021 Consolidated Financial Statements are limited. Credit exposure towards Russia reaches 0.3% of total exposures as of December, 31, 2021. All exposures are well collateralised and all collaterals are located in Western Europe. However, the overall impact of the crisis is, as yet, not known. BIL expects corporate and individual clients will be impacted, as energy and commodities prices are surging. The Bank will continue to support its clients through the crisis in the best possible way.
<br>Amidst this challenging environment, agility, adaptability and focus will remain paramount. BIL Group will continue the roll out of its strategy, accelerate the execution of major projects that will be defining for the bank of tomorrow.
<br>The 2021 Financial report will be published on April 28 2022 following the general assembly of shareholders.</p> | 3/31/2022 9:00:00 AM | EN | Banque Internationale à Luxembourg records a strong performance in 2021, driven by dynamic commercial activities. | | |
| B-Responsible! BIL supports Pickitup Luxembourg | https://www.bil.com/en/bil-group/pressroom/news/Pages/B-Responsible-BIL-supports-Pickitup-Luxembourg.aspx | B-Responsible! BIL supports Pickitup Luxembourg | | <p>With the B-Responsible campaign launched on 6 September 2021, Banque Internationale à Luxembourg pledged to donate a set amount to Pickitup Luxembourg for every subscription to a B-active or B-student pack, or first student loan. The campaign, which ran until 31 December 2021, raised a total of €4,250. This will enable Pickitup Luxembourg to buy litter-picking equipment and safety vests for its “Pickies”, or volunteers.</p>
<p>Pickitup Luxembourg was created in June 2019 and works to protect the environment by raising awareness of littering. It brings together a community of 1,500 Pickies for clean-ups.</p>
<p>Didier Picard, President and Founder of Pickitup Luxembourg, said: “<i>We would like to thank BIL, its committed staff and all the young people who want to protect the environment. The B-Responsible campaign has been a great success, and a clear signal to us of a shift in mindset and growing awareness of climate issues among young people. With your help, our charity now has extra financial resources to invest in the equipment needed to organise our next clean-ups in 2022. Thank you. I hope to bring you news of our next adventures very soon!</i>”</p>
<p>Alessandra Simonelli, Head of Sustainable Development at Banque Internationale à Luxembourg added: “<i>We are happy to be supporting Pickitup Luxembourg and its Pickies. They do great work in raising awareness – among the young and not so young – about environmental protection issues. Above all, they encourage us all to roll up our sleeves and be drivers of change, by taking part in clean-ups.</i>”</p>
<p>The B-Responsible campaign and support for Pickitup Luxembourg are part of Banque Internationale à Luxembourg’s approach to sustainable development. The bank actively supports the local economy and the development of the communities in which it is present. Education and healthcare are central to its philanthropy. As a signatory to the UN Principles for Responsible Banking, it makes financial products and services a key part of its work. Four funds from its BIL Invest range have received LuxFLAG ESG certification, further reflecting BIL’s commitment to responsible finance.</p> | 3/3/2022 11:00:00 AM | EN | Following the successful B-Responsible campaign, Banque Internationale à Luxembourg has donated €4,250 to Pickitup Luxembourg. | | |
| New range of services from BIL: laying the foundations for the bank of tomorrow | https://www.bil.com/en/bil-group/pressroom/news/Pages/new-range-of-services-from-BIL-laying-the-foundations-for-the-bank-of-tomorrow.aspx | New range of services from BIL: laying the foundations for the bank of tomorrow | | <p>Development of digital banking services has changed the relationship between a bank and its clients. For everyday life and routine transactions, clients like online services for their simplicity and speed. To bring their projects to fruition (real estate, investment, retirement planning, management of their business, etc.), they want access to experts, whether in a branch or remotely. The new organisation of BIL’s services aims to respond to the new practices and expectations of its clients.</p>
<p>“<i>With this new range of services, Banque Internationale à Luxembourg is laying the foundations for the bank of tomorrow. BIL is more accessible, more connected, and more specialised, and is improving the support it offers its clients,</i>” says Jeffrey Dentzer, Head of the Luxembourg Market and Corporate and Institutional Banking.</p>
<p><b>Specialised account managers for exacting clients</b></p>
<p>Business services, mortgages, consumer loans, saving and investment, wealth management: banking services have certainly changed significantly. Each requires a specific set of skills. With the digital transformation, clients have also changed a lot: being better informed with many points of comparison available to them, they seek effective advice and expect solutions tailored to them. To improve the quality of its support, BIL has chosen to specialise its staff. This means that, depending on the nature of their plans, clients can rely on the support of an account manager – either face to face or remotely – who has mastered their subject area and can offer solutions that perfectly meet the needs specified.</p>
<p><b>BIL home, the new entirely remote branch</b></p>
<p>In addition to its branches throughout Luxembourg, BIL is launching BIL home, its fully remote branch. With 15 specialised account managers, BIL home will be able to meet all its clients’ needs. Account managers will be available by appointment, by phone or video conference, Monday to Friday from 8am to 7pm or via the secure messaging system of the BILnet app, meaning you don’t have to leave the comfort of your own home. Whether for a real estate project, a financial investment or a consumer loan, clients can rest assured that they will have access to a specialist from the bank.</p>
<p>Of course, all the bank’s clients can manage their accounts with BILnet, its simple and secure online service platform. Here you can check your account balance and carry out transactions in real time, make instant transfers, manage your investments, activate/block your cards, change your withdrawal and payment limits, sign documents electronically, and much more.</p>
<p><b>BIL branches, centres of expertise</b></p>
<p>BIL is constantly investing to improve and adapt the way its branches are organised in order to better meet clients’ expectations. Today, advice and support are a core service. BIL has chosen to bring together its specialists in financing, investment and business services so that its branches are true local centres of expertise.</p>
<p>The new branch formats, Office, Shop and House, introduced in 2020, reflect these changes. Opening hours for appointments have been extended to run from 8am to 7pm to improve accessibility. In addition, this also allows for better control of branch flows, which is essential now that the COVID-19 pandemic has completely changed our way of life.</p>
| 2/8/2022 11:00:00 AM | EN | More accessible, more connected, and more specialised, BIL places clients at the heart of its new range of services in Luxembourg. | | |
| BIL launches its new range of banking offers for individual and business clients | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-launches-its-new-range-of-banking-offers-for-individual-and-business-clients.aspx | BIL launches its new range of banking offers for individual and business clients | | <p>Banque Internationale à Luxembourg has carried out a full overhaul of its banking offers, with the focus on simplicity, more services, and competitive fees. For individual clients, the number of packages will be reduced from twelve to four, and for business clients, from nine to five.</p>
<p><b>BIL offers for individual clients</b></p>
<p>The new range offers clients the choice of four packages with a variety of bank cards and services. These packages are competitively priced and offer a common set of core services such as the V Pay Visa debit card, unlimited EUR transfers and access to BILnet. Clients can use BIL’s online services platform to manage their accounts and carry out numerous transactions themselves, whenever and from wherever they want: transfers, investment management transactions, card activation/deactivation, adjustments to withdrawal and payment limits, etc.</p>
<p>The BIL Direct package is available for online account openings and is free of charge (subject to condition). It includes an unlimited number of instant payments and a VISA Classic* credit card at a preferential rate. For clients looking to a greater range of services, the BIL Gold and BIL Platinum packages include the Visa Gold* and Visa Platinum* credit cards respectively, and the associated range of insurance cover and services. These two packages also include a competitively priced authorised overdraft facility at preferential rates, and access to consumer loans with reduced application fees.</p>
<p><b>BIL packages for professionals and business clients</b></p>
<p>For retailers, freelancers and professionals, and companies of any size, the new range includes five packages for the day-to-day banking requirements of professionals and businesses. BIL Pro offers a deposit card, five free transfers and access to the BILnet online banking platform and MultiLine as its starter pack of services. The client can then choose from the enhanced BIL Pro Silver, BIL Pro Gold or BIL Pro Platinum packages depending on the kind of Visa Business card and services they require. It is worth noting that the BIL Pro Payment package includes a payment terminal.</p>
<p>“<i>This new, simplified range of day-to-day banking packages aims to respond to the changing needs of both our individual and business clients. Our aim is to offer clients useful, competitive and innovative services that will make it easier for them to manage their accounts</i>”, states Didier Richter, Head of Daily Banking and Payments, Banque Internationale à Luxembourg.
Discover BIL’s offers for individual clients at <a href="https://www.bil.com/packages">Bil.com/packages</a> and for professional clients at <a href="https://www.bil.com/propackages">Bil.com/propackages</a>. </p> | 1/5/2022 10:00:00 AM | EN | Banque Internationale à Luxembourg (BIL) is adapting to changing consumer trends with the launch of its new range of daily banking packages. Streamlined and with more services, these packages are available to clients since 1st January 2022. | | |
| Banque Internationale à Luxembourg Signs the UN Principles for Responsible Banking | https://www.bil.com/en/bil-group/pressroom/news/Pages/BaBIL-Signs-the-UN-Principles-for-Responsible-Banking.aspx | Banque Internationale à Luxembourg Signs the UN Principles for Responsible Banking | | <p>The Principles are the leading framework for ensuring that banks’ strategy and practice align with the vision society has set out for its future in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks who have signed the Principles commit to be ambitious in their sustainability strategies, working to mainstream and embed sustainability into the heart of their business, while allowing them to remain at the cutting-edge of sustainable finance.</p>
<p>Marcel Leyers, Chief Executive Officer, Banque Internationale à Luxembourg said: “<i>We are very proud to be an official signatory of the UNEP FI Principles for Responsible Banking. Banks can play a unique role to support and accelerate the fundamental changes needed in our economies. BIL’s commitment is yet another milestone in our efforts towards a sustainable future.</i>”</p>
<p>BIL continues to make significant progress on its sustainable development journey. It actively supports the local economy and the development of the communities in which it operates. Financial products and services are also an essential lever of its action. Case in point, four of the funds of its BIL Invest range have recently obtained the LuxFLAG ESG label for a period of one year. It is another concrete example of BIL’s commitment to responsible finance.</p>
<p><b>The UN Principles for Responsible Banking</b></p>
<p>The UN Principles for Responsible Banking provide a framework for banks to systematically understand the risks and seize the opportunities arising from the transition to more sustainable economies. Signatories take on a leadership role, demonstrating how banking products, services and relationships can support and accelerate the changes necessary to achieve shared prosperity for both current and future generations, building a positive future for both people and planet. These banks also join the world’s largest global banking community focused on sustainable finance, sharing best-practice and working together on practical guidance and pioneering tools of benefit to the entire industry.</p>
<p>This is a journey of unprecedented scale and scope at a time when such ambition is urgently needed to address the major planetary crises of climate change, nature loss, pollution and social issues. Together, these collective efforts will ensure that profitability goes hand in hand with a sense of purpose.</p>
<p>More information on the Principles for Responsible Banking: <a href="https://www.unepfi.org/banking/bankingprinciples/" target="_blank">www.unepfi.org/responsiblebanking</a></p>
| 11/25/2021 10:00:00 AM | EN | BIL has become an official Signatory of the UN Principles for Responsible Banking | | |
| Banque Internationale à Luxembourg and Jonk Entrepreneuren Luxembourg strengthen partnership | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-and-Jonk-Entrepreneuren-Luxembourg-strengthen-partnership.aspx | Banque Internationale à Luxembourg and Jonk Entrepreneuren Luxembourg strengthen partnership | | <p>Raising young people’s awareness of entrepreneurship from an early age develops their autonomy, engagement, initiative and decision-making skills and a taste for risk-taking. Raising awareness about entrepreneurship is at the heart of Jonk Entrepreneuren Luxembourg’s mission and its Mini-Companies programme. It is aimed at pupils aged 15 to 19 in general and classic secondary education. For one year, they run a mini-company in which they are responsible for decision-making and the day-to-day management. In addition to financial support, BIL and its employees will assist young people in their project and pass on their knowledge of the business world and business management.</p>
<p>“<i>We have been supporting JEL for four years, and we are delighted to have the opportunity to further develop our collaboration by participating in the Mini-Companies programme. Building young people’s awareness of entrepreneurship is crucial for their future careers, and it is an honour to contribute to this objective. These are tomorrow’s entrepreneurs and managers,</i>” said Tom Lessel, Head of Corporate Banking at BIL.</p>
<p>“<i>We are delighted to have the opportunity to further develop our collaboration with BIL. It is important to continue to invest in the education and future of young people. Providing young people with skills that will be crucial tomorrow is part of our mission,</i>” stressed Stéphanie Damgé, Director at Jonk Entrepreneuren Luxembourg asbl.</p>
<p>As a committed and responsible company, BIL has placed support for education at the heart of its corporate social responsibility (CSR) policy. This new partnership with JEL is just one of many joint initiatives since 2017. For example, BIL supports the Young Enterprise Project which is aimed at young people in higher education. The bank is also involved in the activities of the association Alumni JEL, which brings together former pupils having participated in one of its programmes.</p> | 11/4/2021 10:00:00 AM | EN | BIL is delighted to announce its support for the Jonk Entrepreneuren Luxembourg (JEL) Mini-Companies programme which seeks to raise awareness among secondary school pupils about entrepreneurship and the business world. | | |
| Four BIL Invest funds have obtained the LuxFLAG ESG label | https://www.bil.com/en/bil-group/pressroom/news/Pages/Four-BIL-Invest-funds-have-obtained-the-LuxFLAG-ESG-label.aspx | Four BIL Invest funds have obtained the LuxFLAG ESG label | | <p>The four BIL Invest Patrimonial funds, which were granted the LuxFLAG ESG label until 30 September 2022, combine the opportunities provided by financial markets with environmental, social and governance (ESG) criteria. Managed by experts, diversified across various asset classes and having different risk profiles, these turnkey funds meet the needs of beginners and seasoned investors alike. With low minimum investment amounts, they are accessible to all budgets.</p>
<p>“<i>Obtaining the LuxFLAG ESG label is a big step forward in the development of our range of sustainable investment products. Our clients can reconcile profitability with ESG goals. By investing in these funds, they can have a positive impact and give meaning to their investments, while increasing their wealth</i>”, notes Lionel De Broux, Head of Fund Selection, Banque Internationale à Luxembourg.</p>
<p>The primary aim of the LuxFLAG ESG label is to reassure investors about the proper incorporation of ESG criteria at each stage of the fund’s investment process. For funds to be eligible, the whole of their investment portfolio must be reviewed according to the strategies and standards determined by LuxFLAG.</p>
<p>“<i>We are pleased to announce that the four BIL Invest Patrimonial funds have been granted the use of LuxFLAG ESG Label for a period starting on 1 October 2021 and ending on 30 September 2022. The LuxFLAG ESG Label is recognized for its high standards and rigorous assessment of each applicant investment fund’s investment strategy and integration of ESG into the investment analysis and decision making process, as well as an affirmation of the fund’s transparency towards investors; all key components of the eligibility criteria of the LuxFLAG ESG Label,</i>” commented Denise Voss, Chairwoman, LuxFLAG.</p>
<p>Obtaining the LuxFLAG ESG label is a concrete example of BIL’s commitment to responsible finance. The Bank has been pursuing a sustainable development approach for several years, which it rolls out and improves progressively.
Through an ongoing dialogue with its stakeholders, BIL has defined its strategy and the actions to prioritise. The Bank actively supports the local economy and the development of the communities in which it operates. Financial products and services are also an essential lever for action: this is why BIL is developing a range that enables its clients and the Bank itself to have a positive impact, and to lay solid foundations for future generations.</p> | 10/28/2021 9:00:00 AM | EN | BIL is pleased to announce that four of the funds in its BIL Invest range have obtained the LuxFLAG ESG label for a period of one year. | | |
| Banque Internationale à Luxembourg launches Myvisit, the digital checklist for successful house hunting | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-launches-Myvisit-the-digital-checklist-for-successful-house-hunting.aspx | Banque Internationale à Luxembourg launches Myvisit, the digital checklist for successful house hunting | | <p>It is often said that buying a home is a life-long investment. To make sure that properties you visit hold no surprises, Banque Internationale à Luxembourg is launching Myvisit, a real digital checklist for prospective buyers. From roofing to plumbing, wiring and insulation: Myvisit lists everything to consider during a visit. When they create a profile, users can save the description of each property visited, insert pictures and comments, receive insights, generate a report and enter scores, making it easier to compare homes and reach a decision. And they can easily share each project. The service is completely free. To discover Myvisit, go to <a href="https://www.bil.com/static/myvisit/en/index.html" target="_blank">myvisit.lu</a>.</p>
<p>Mike Schwörer, Head of Housing Advisory at Banque Internationale à Luxembourg, commented: “<i>Financing, location and property: for such a big endeavour, buyers should leave nothing to chance. At BIL, we help future buyers throughout the process. Visiting a property can be stressful for anyone who isn’t in the construction industry. Myvisit is the perfect digital resource to make sure you don’t forget anything. You just need to take your smartphone or table, and that’s it!</i>”.</p>
<p>To develop Myvisit, Banque Internationale à Luxembourg relied on the expertise of Konkretly. Founded by researchers and entrepreneurs, with its digital checklist Konkretly helps buyers through the decision-making process during their visits. Present on the German market since spring 2021, Konkretly quickly established itself as the leading digital app for visiting properties.</p>
<p>Zoltan Horvath, co-founder of Konkretly, added: “<i>Konkretly developed the digital tool behind Myvisit based on a year of international benchmarking and close cooperation with real estate experts. We wanted to make buying a home less stressful for everyone, by giving them access to these insights, effortless organization, and easy sharing of property information.</i>”</p>
<p>For more information about Myvisit, go to <a href="https://www.bil.com/static/myvisit/en/index.html" target="_blank">myvisit.lu</a>. </p> | 10/12/2021 10:00:00 AM | EN | When it comes to buying a home, every detail matters. To help buyers make a fully informed choice about whether to buy a property, BIL is launching the Myvisit website in partnership with start-up Konkretly. | | |
| IM-MOBILITY pushes the boundaries | https://www.bil.com/en/bil-group/pressroom/news/Pages/IM-MOBILITY-pushes-the-boundaries.aspx | IM-MOBILITY pushes the boundaries | | <p>Mobility is the freedom to move around in order to travel, work, learn, do business, see family and friends, have fun, shop and eat out. The health crisis that we are experiencing, which has restricted our movement and changed the way we interact with each other, has cast a spotlight on our ways of living and shown the extent to which mobility is a key factor. It has also highlighted the incredible way in which technology and means of communication enable citizens, communities, governments and companies to adapt. Restrictions on movement did not bring business or socialising to a complete halt. But it forced us to do things differently.<br>
A corporate citizen with more than 1,800 staff in Luxembourg, including nearly 700 cross-border workers, BIL is also faced with the question of mobility. The way we live and do business is changing , with remote working and new means of communicating and interacting with its clients. This is why it wanted to spark debate, launching a multifaceted discussion forum called IM-MOBILITY. Artists and experts set out their vision for mobility and present innovative transport solutions, current and future.</p>
<p>From 17 September 2021 to 14 January 2022, the IM-MOBILITY exhibition is filling public and private spaces at BIL headquarters on Route d’Esch, with work of art as well as videos, prototypes and innovative vehicles from companies and research institutes for which transport is a core issue. The Galerie Indépendance, Heintz Park, customer reception areas and other venues will be used throughout the exhibition. Conferences presented by our partners will also liven up the forum.</p>
<p>Discover the IM-MOBILITY exhibition, the latest news and the conference programme at <a href="/im-mobility/index.html" target="_blank">www.bil.com/im-mobility</a></p>
<p><u>Artists:</u><br>
11 renowned artists, from very different backgrounds, were invited to think about the ideas of mobility and immobility, and to present their creation: Roger Dornseiffer, Patrick Galbats, Marco Godinho, Hisae Ikenaga, Thibaud Latour, Spike and Stick, Frank Miltgen, Claudia Passeri, Gilles Pegel, Mike Zenari.<br>
Works lent by the Luxembourg City Museum will also be exhibited.</p>
<p><u>Innovation partners:</u><br>
Start-ups, research institutes, industrial multinationals and companies present innovative solutions: Goodyear and its self-regenerating tyre, MDI and its AirPod, Moovee, Losch Luxembourg, Luxembourg Air Rescue, B Medical System, 360Lab at the University of Luxembourg (SNT).</p>
<p>Galerie Indépendance, Banque Internationale à Luxembourg, 69 route d’Esch, Luxembourg. Open every business day from 8am to 6pm, from 17 September 2021 to 14 January 2022.<br>
Heintz Park, always open.</p> | 9/16/2021 10:00:00 PM | EN | How our relationship with space has evolved? What are the foundations of our future means of transports? Artists and innovative businesses will try to provide answers through a multidisciplinary exhibition on the theme of mobility. | | |
| Successful transactions of securities with Central Bank Digital Currency | https://www.bil.com/en/bil-group/pressroom/news/Pages/Successful-transactions-of-securities-with-Central-Bank-Digital-Currency.aspx | Successful transactions of securities with Central Bank Digital Currency | | <p>Banque de France successfully used Central Bank Digital Currency (CBDC) in a test environment, in connection with TARGET2-Securities (T2S), the European Central Bank settlement platform.</p>
<p>SEBA Bank purchased securities from Banque Internationale à Luxembourg, while post-trade settlement was handled by LuxCSD, the Luxembourg central securities depository. The transaction was carried out through the Conditional Securities Delivery functionality (CoSD) already existing in T2S, which makes the booking of securities dependent on the success of an event external to T2S. Banque de France simulated CBDC tokens on a public blockchain, while preserving confidentiality of the transactions. As soon as the tokens were successfully transferred from SEBA Bank to Banque Internationale à Luxembourg, LuxCSD delivered the securities in T2S.</p>
<p>Central Bank Digital Currency describes a concept of digital currency issued by a central bank. Currently, central banks around the world are examining the potential of CBDC for the respective jurisdictions. The test demonstrated that distributed ledger technology (DLT) could be used to issue CBDC in connection with existing infrastructures such as T2S, where listed securities are delivered.</p>
<p>Serge Munten, Head of Operations at Banque Internationale à Luxembourg, commented: “The world of payments is evolving fast with digitalisation. At BIL, we strive to bring our clients the latest innovation in terms of payments services. It was only natural for us to participate in this experiment, which might determine the future of Central Bank Digital Currency in the eurosystem.”</p>
<p>Marco Caligaris, Chief Executive Officer at LuxCSD, added: “Connecting new technology, such as DLT, with existing infrastructure is crucial to offer optimal services for the market. By joining forces, the industry can develop sustainable solutions that not only work today but lay a strong foundation for the future. Being a trusted central securities depository at the heart Internal of one of Europe’s financial centres, LuxCSD is perfectly positioned to support the industry on its way towards a true digital finance ecosystem.”</p>
<p>This test is one of many conducted by Banque de France to explore design options for the technical implementation of a digital euro at the level of the back-end infrastructure and end-user access solutions. It is part of a larger initiative launched in the eurosystem in 2020 to advance work on the possible issuance of a digital euro – an electronic form of central bank money accessible to all citizens and firms, alongside cash.</p> | 6/21/2021 4:00:00 PM | EN | Banque Internationale à Luxembourg, LuxCSD and Seba Bank tested use of Central Bank Digital Currency (CBDC) for securities transactions.
Conducted by Banque de France, the delivery of securities in the European platform, TARGET2-Securities (T2S) agains... | | |
| New BIL Office branch in Kirchberg | https://www.bil.com/en/bil-group/pressroom/news/Pages/New-BIL-Office-branch-in-Kirchberg.aspx | New BIL Office branch in Kirchberg | | <p>BIL is continuing to overhaul its branch network with the opening of a BIL outlet in the Infinity shopping centre in Kirchberg focused on advisory activities. The BIL Office – Philharmonie branch offers a warm environment for staff to welcome clients or prospects and help them bring their projects to life. For services such as opening an account, applying for a loan or investing for the future, the team is available for appointments from 8am to 7pm Monday to Friday.</p>
<p><b>Client-advisor relations at the branch’s core</b></p>
<p>More connected and better informed, clients expect personalised advice to help them bring their projects to life, and fast, convenient banking services for everyday needs. The health crisis has hastened the move towards greater use of online banking services, a trend already visible for several years. This is why BIL has chosen to combine human interaction and digital efficiency, to better service its clients.</p>
<p>An essential part of the advisory activity, BIL branches have changed a lot in recent years. The bank introduced three new formats in 2020: BIL Office, BIL Shop and BIL House. Their common goal: position client-advisor relations at the branch’s core.</p>
<p>Supporting clients in their digital journey is essential. To complement its branches, BIL has strengthened its teams at the BIL Direct Centre, its call centre, with advisors to answer clients’ questions by phone and secure messenger.</p>
<p>For everyday banking services, BIL is constantly expanding its range of services on its BILnet online banking platform. New features are regularly added for clients wanting access to their bank account at all times. Examples include opening an account entirely online, Apple Pay, instant payments, e-signing, transaction notifications, QuickMoney for card-free withdrawals.</p>
<p>More human and more digital, BIL combines customised support and expertise with ease-of-use and proximity services.</p> | 6/17/2021 4:00:00 PM | EN | The BIL Office – Philharmonie branch will open to the public on Monday 21 June. This new branch will be dedicated to advisory activities and open to clients by appointment only, from 8am to 7pm, Monday to Friday. | | |
| 360° : Activity report 2021 | https://www.bil.com/en/bil-group/pressroom/Pages/activity-report.aspx | 360° : Activity report 2021 | | <style>
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<iframe width="100%" style="margin-top: 50px;border: 0px; height: 500px;" src="https://e.issuu.com/embed.html?backgroundColor=%232d2d2d&backgroundColorFullscreen=%232d2d2d&d=bil-rapport-annuel_en_low&hideIssuuLogo=true&logoImageUrl=https%3A%2F%2Fwww.bil.com%2FPublishingImages%2Flogo.png&u=bil2020" ></iframe> | 6/16/2021 11:00:00 AM | EN | In 360° you will find the highlights of the year 2020 and BIL’s defining projects through articles and interviews with employees | | |
| BIL 2020 Results: Investing For The Future | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-2020-Results-Investing-For-The-Future.aspx | BIL 2020 Results: Investing For The Future | | <ul class="list-check">
<li>Net income after tax : EUR 101 million, -10% (EUR 112 million in 2019)</li>
<li>Assets under management : EUR 43.7 billion (EUR 43.5 billion in 2019)</li>
<li>Total balance sheet : EUR 30.6 billion, +8.9% (EUR 28.1 billion in 2019)</li>
<li>Customer deposits: EUR 19.8 billion, +4.1% (EUR 19 billion in 2019)</li>
<li>Loans to customers: EUR 15.4 billion, +4.8% (EUR 14.7 billion in 2019)</li>
<li>Common Equity Tier 1 ratio: 13.44% (12.47 % in 2019)</li>
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<b><p>Investing for the future</b></p>
<p>2020 was a year like no other. Throughout the health crisis, and today still, the safety of clients and employees is the Bank’s priority at all times. Due to social distancing, BIL encouraged clients to use digital channels whenever possible to continue to access its services. It introduced new ways of working and ramped up home office capabilities for most employees and kept branches open to appointments with proper sanitary protection.</p>
<p>The COVID-19 pandemic has induced a deep global economic crisis. In this historically challenging time for clients, BIL continued to provide support to help people and businesses face the social and economic impacts of the crisis. BIL employees remained at the side of clients to ensure their projects, personal or professional, could come to life. As many companies and businesses had to stop or adapt their activities, the Bank strove to help them stay afloat and be ready to resume business crescendo once the situation improved. BIL worked with the Luxembourg Government to implement solutions to support the economy, such as loan deferrals and State-guaranteed loans. Over 2800 loan deferrals were granted in 2020 and to date, a very large majority of these clients resumed the normal course of their payments.</p>
<p>The Bank quickly adapted its operations to these exceptional circumstances remaining focused on its objectives, defined in its 5-year strategic plan. BIL aims at strengthening its position as an innovative and a trusted advisor whilst developing its international wealth management and corporate banking offering.</p>
<b><p>A satisfactory commercial performance despite the adverse environment</b></p>
<p>In 2020, total revenues amounted to EUR 555 million, down by EUR 9 million (-2%) compared with 2019 (EUR 563 million). The contribution of commercial activities to the core operating revenues increased by EUR 3 million (+0.6%) compared with 2019. Throughout 2020, commercial activities were significantly impacted by the COVID-19 crisis. The lockdown period, travel restrictions and curfews reduced business development (particularly relevant at the level of Wealth Management) and transactional activities (payments and brokerage) for all business lines.
Customer loans increased by 4.8% to EUR 15.4 billion mainly due to mortgage loans which grew by 15.2%, proof of BIL’s ongoing support of the local economy throughout the pandemic. Customer deposits increased by 4.1% to EUR 19.8 billion compared with EUR 19 billion at year-end 2019, nuanced by an increase in current accounts as pandemic restrictions led to contracted client spending and investing throughout 2020.
The adverse macroeconomic outlook impacted all market participants, businesses and the banking industry. The core cost of risk totalled EUR 63 million in 2020 versus EUR 27 million in 2019, largely influenced by the effects of the health crisis, thus significantly impacting 2020 net income.</p>
<p>The Bank reported a net income of EUR 101 million, showing considerable resilience when compared with December 2019 despite the ongoing health crisis and the uncertain economic situation. During the general assembly held on 29 April 2021, the shareholders decided to allocate the 2020 net profit to retained earnings to support the Bank’s development and invest in the future.</p>
<b><p>2021: reconstruction for sustainable growth</b></p>
<p>2020 was a year of unexpected challenges and economic downturn. The lessons learned during the crisis, agility in operations, increased collaboration, support to employees and clients are invaluable assets for the future. In 2021, this situation is expected to continue as vaccination campaigns are still progressing at variable paces throughout the world. BIL will continue to support the economy as it is progressively improving.
“The Luxembourg economy is close to our hearts and I am proud we were able to contribute. I am very confident that our clients and our employees will benefit from our investments made in difficult times” commented Marcel Leyers, CEO of Banque Internationale à Luxembourg.
The Bank will continue to execute its strategic five-year plan Create Together 2025, with the full support of the majority shareholder Legend Holdings, as well as of the Grand Duchy of Luxembourg. Growing its brand domestically and internationally, encouraging and supporting innovation and creating the conditions for sustainable growth remain top priorities.</p>
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</a> | 4/29/2021 11:00:00 AM | EN | In 2020, BIL Group demonstrated its resilience and support to the economy in a context marked by the health crisis. | | |
| BIL partners with CANDRIAM for the development of its ESG services | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-partners-with-CANDRIAM-for-the-development-of-its-ESG-services.aspx | BIL partners with CANDRIAM for the development of its ESG services | | <p>Our planet is increasingly exposed to the unpredictable consequences of climate change and the depletion of natural resources. The investment needed to reach the targets set in the Paris Agreements for 2030 is considerable, and public investment will not be enough.</p>
<p>The finance industry has a decisive role to play in chanelling investments that, as well as generating a return, will help in the pursuit of environmental and social goals. In addition to financial data, asset management companies and financial advisors must incorporate ESG factors into their analysis, and present this clearly to their clients. This is a sizeable challenge for the industry given the huge increase in data volumes and the lack of standards.</p>
<p>As a responsible bank, BIL is committed to sustainable finance. To improve its offering, the bank has partnered with CANDRIAM, a leader in this field. The partnership will give access to CANDRIAM’s ESG expertise: proprietary data, training and advice. With better visibility over, and a greater ability to measure, ESG factors, BIL will be better equipped to reflect them in its investment decisions and in the products and services that it offers its clients.</p>
<p>Alessandra Simonelli, Head of Sustainable Development at BIL, said: “<i>We believe that banks have a key role to play in fighting climate change. By providing clients with clear information on the sustainability of our products, and by developing our ESG range, we will be contributing to this. We felt it essential to join forces with a partner like CANDRIAM whose core business is based on combining fundamental analysis with use of ESG data.</i>”</p>
<p>David Czupryna, Head of ESG Development at CANDRIAM, added: “<i>Because they finance the personal and business projects of the future, banks have a key role to play in the transition towards a more sustainable world. CANDRIAM is proud and honoured to have been chosen to support BIL in its journey as a responsible bank. We will do everything we can to advise it and help make its long-term vision a reality.</i>”</p>
<p>CANDRIAM is one of the first signatories of the UN Principles for Responsible Investment. For its assessment process, CANDRIAM employs a dedicated ESG research team, which examines companies’ ESG performance either in absolute terms or relative to industry peers, focusing on those ESG factors considered to be most significant.</p>
| 3/4/2021 11:00:00 AM | EN | To enhance its range of investment products and services that incorporate environmental, social and governance (ESG) criteria, BIL announces a strategic partnership with CANDRIAM. | | |
| BIL investment Outlook for 2021 | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-investment-Outlook-for-2021.aspx | BIL investment Outlook for 2021 | | <p><b>An uneven recovery</b></p>
<p>“The global economy fell into one of the worst recessions last year, but this was caused by government imposed lockdowns, rather than being the result of an economic imbalance,” said Fredrik Skoglund, Chief Investment Officer at BIL. “For 2021, we envisage a recovery resembling a “Nike swoosh” – for which the precipitous drop in 2020 activity will be followed by a gradual normalization.”</p>
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<p>Winged by fiscal and monetary support, major financial markets across the world have largely rebounded, despite the ongoing economic crisis. BIL experts expect the recovery to be uneven from one country to another. Its speed will be dependent upon the success of government containment measures and vaccination roll out, and contingent upon continued policy support. At corporate level, two divergent paths are likely to occur: companies with a strong foothold in digitalization will benefit from the pandemic, companies whose business model have been turned upside down will not be able to operate at full capacity as long as social distancing is the modus operandi.</p>
<p>With public debt levels at record highs, policymakers could perhaps try to coax up inflation to offset some of the burden. This leaves central banks walking a tightrope: they want higher inflation, but they don’t want it to go too high, knowing how painful it could be to bring it down again. “ Monetary policy should continue to be easy in 2021 as the major central banks do not seem to have exhausted their policy jar,” explains Fredrik Skoglund. “ We expect 2021 to be a constructive year, one of rebuilding and of problem-solving, against a backdrop of ongoing policy support and strides towards inoculation.”</p>
<p><b>Diversification and long-term view</b></p>
<p>Equity markets are poised to benefit in such a context, and BIL experts expect slight upside, though much of this is already priced in. Investment style considerations will be important and investors must be prepared for an eventual value catch-up later during the year. With regard to sectors, a nuanced approach is warranted. The new digitalised reality ushered in by the pandemic means some companies will sink and some will swim within individual sectors. Selectivity to ensure the robustness of individual business models has never been more crucial.</p>
<p>With regards to fixed income, investors are hunting for yield and this should likely continue through 2021, with central banks almost certainly poised to keep interest rates lower for longer. According to BIL experts, investors should stay cognizant to the risks at hand. They should not get caught off guard by a modest uptick in inflation, since this is something central banks are clearly trying to conjure.</p>
<p>“Even after coronavirus subsides, its legacy will remain. The way we live has been irreversibly altered. Trends accelerated by the pandemic such as digitalisation are unlikely to fall into reverse, portfolios must be fine-tuned accordingly,” said Fredrik Skoglund. As disruptive as the pandemic has been, it may prove to be a drop in the ocean compared to the next challenge ahead of us: climate change. Concerted, coordinated global action is required. This will be resource intensive and every sector will have a role to play, especially the financial sector.</p>
<p>The Way We Live Now, BIL Investment Outlook 2021 is available on the <a href="https://www.bilinvestmentinsights.com/bil-investment-outlook-2021/" target="_blank">BIL Investment Insights blog</a> (also available in French, German and Dutch).</p> | 1/19/2021 3:00:00 PM | EN | In “ The way we live now”, BIL investment experts discuss the new reality ushered in by the Covid-19 pandemic, the digital trends that will stick and the renewed focus on sustainability. | | |
| BIL Suisse appoints Hartmut Vollmer Head of Wealth Management Growth Markets and Tobias Kamber General Counsel | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-Suisse-appoints-Hartmut-Vollmer-Head-of-Wealth-Management-Growth-Markets-and-Tobias-Kamber-General-Counsel.aspx | BIL Suisse appoints Hartmut Vollmer Head of Wealth Management Growth Markets and Tobias Kamber General Counsel | | <p>Hartmut Vollmer will join BIL Suisse as Head of Wealth Management Growth Markets which include China, Eastern Europe and the Middle East as of 1 April 2021. He will also become a member of BIL Suisse’ Executive Committee. Hartmut Vollmer joins BIL from Union Bancaire Privée (UBP) where he led the Eastern Europe team. He had been a member of the Bank’s Private Banking management committee since 2011. Prior to UBP, Hartmut Vollmer held management positions at ABN AMRO in Switzerland from 2000 to 2011.</p>
<p>Tobias Kamber will take on the role of General Counsel as of 1 January 2021. He will also become a member of BIL Suisse’ Executive Committee. Tobias Kamber has over 16 years of experience in legal, risk and compliance roles in the private banking sector in Switzerland and Hong Kong. Prior to joining BIL Suisse, he held the position of Deputy General Counsel Private Banking at Julius Baer and also headed the Private Banking legal team for Switzerland and the EMEA countries.Tobias Kamber started his career in the private banking sector in 2004 as Legal Counsel at Clariden Bank, prior to joining Julius Baer in 2007.</p>
<p>Hans-Peter Borgh, CEO of BIL Suisse and Group Head International, said: “<i>We continue to hold high growth ambitions for our business, and it was essential for us to strengthen our management team. Hartmut Vollmer and Tobias Kamber will bring invaluable experience and sharp expertise. We have made major high caliber recruitments in the past few months, reaching an important milestone. We are confident that with our strong team, we will take BIL Suisse to its next level of development.</i>”</p>
<p>BIL Suisse, one of the two main private banking hubs of Banque Internationale à Luxembourg, drives the Group’s international wealth management activities. It focuses on serving private clients, many of whom are entrepreneurs, from Eastern Europe and CIS countries, China, the Middle East, and Western Europe. To meet its ambitious international growth plans and to better serve its clients, BIL Suisse recently recruited a number of high caliber talents.</p>
| 12/14/2020 10:00:00 AM | EN | BIL Suisse, Banque Internationale à Luxembourg’s Swiss subsidiary, strengthens its management team with two new recruitments. | | |
| Sightlines, the new exhibition by Armand Strainchamps, will go on display at BIL's Galerie L’Indépendance. | https://www.bil.com/en/bil-group/pressroom/news/Pages/Sightlines-the-new-exhibition-by-Armand-Strainchamps-will-go-on-display-at-BIL-Galerie-LIndependance.aspx | Sightlines, the new exhibition by Armand Strainchamps, will go on display at BIL's Galerie L’Indépendance. | | <p><i>Sightlines</i>, is the title of the book featuring a retrospective of artist Armand Strainchamps to be released on 29 October. It is also the title of the new exhibition which opens on the same day at Banque Internationale à Luxembourg's Galerie L’Indépendance, offering the public the chance to discover his more recent works.</p>
<p>Including thirty paintings that feature his signature style, the exhibition Sightlines is a stunning addition to the artist's existing oeuvre. In these paintings, figures appear to be suspended weightlessly in time. Subjects are stripped entirely of superfluous details, are underscored by black contouring and contrasting colours that seem to crystallise and intensify their expressions. The sculptures to be featured in the Galerie L’Indépendance complement the artist's existing body of work beautifully.</p>
<p>Artlovers can preview the exhibition at <a href="https://www.bil.com/galerie-lindependance/strainchamps/index.html">www.bil.com/galerie-lindependance/strainchamps/index.html</a></p>
<p>This exhibition is yet another example of BIL’s commitment to promoting art and culture, which, alongside innovation and education, are at the core of its corporate social responsibility philosophy. Sightlines is also the fruit of a long-term collaboration with the artist, whose work has already been featured at the Galerie L’Indépendance. BIL already exhibited a number of his works in 2004, and more recently again in 2016 to mark the Bank's 160th anniversary.</p>
<p>The exhibition Sightlines by Armand Strainchamps is open to the public from 8 a.m. to 6 p.m., Monday to Friday, beginning 29 October 2020 until 12 February 2021 at the Galerie L’Indépendance, 69, route d’Esch, Luxembourg. It is held in accordance with all applicable health guidelines.</p>
| 10/29/2020 4:00:00 PM | EN | Prolific artist Armand Strainchamps returns to BIL's Galerie L’Indépendance from 29 October, showcasing his latest works. | | |
| BIL reinforced its compliance framework | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-reinforced-its-compliance-framework.aspx | BIL reinforced its compliance framework | | <p>As a significant and responsible member of the financial community of Luxembourg, Banque Internationale à Luxembourg is constantly updating its policies and processes to adapt to changing anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. The Bank is committed to ensuring the highest level of compliance standards at all times when it comes to the fight against money laundering and financing of terrorism, fully supporting the CSSF in its supervisory mission.</p>
<p>During on-site inspections in 2017 and 2018, the CSSF identified certain weaknesses in the Bank’s processes which were in place at the time. These inspections concerned a sample of clients from the Commonwealth of Independent States, thus representing a limited segment of customers whose inherent risk is generally to be considered high. As a result, the CSSF decided to impose an administrative sanction of 4.6. million euros, which is a proportion of the Bank’s total annual revenues. The fine is related to the Bank’s processes which were in place at the time of the inspections.</p>
<p>No money laundering or terrorism financing activity was identified.</p>
<p>With the support of the new shareholder structure and under the leadership of the new CEO, BIL promptly took appropriate measures to remediate the identified weaknesses. The Bank has since defined a new and strict AML Risk Appetite Statement and related Wealth Management Compliance Guiding Principles, recruited additional compliance specialists and increased AML/CTF training and awareness. Compliance tools, i.e. the AML scoring engine, were upgraded and implemented.</p>
<p>BIL wishes to reiterate its complete cooperation with the CSSF in its supervisory work.</p>
<p>Marcel Leyers, CEO of BIL: “<i>When I was appointed CEO, it was my key priority to ensure that BIL’s compliance governance and procedures were further strengthened to ensure the highest standards are applied at all times. The identified weaknesses have been corrected in an appropriate manner.<i>”</p> | 8/10/2020 11:00:00 AM | EN | The CSSF has imposed an administrative sanction on BIL as a result of certain weaknesses identified in its anti-money laundering and counter terrorism financing (AML/CTF) processes. | | |
| Art2Cure exhibition will fund Covid-19 related research | https://www.bil.com/en/bil-group/pressroom/news/Pages/Art2Cure-exhibition-will-fund-Covid-19-related-research.aspx | Art2Cure exhibition will fund Covid-19 related research | | <p>The exhibition can be visited at BIL’s Galérie Indépendance in Luxembourg city (69 route d'Esch, L-2953 Luxembourg) from 20 July to 20 September 2020. For health and safety reasons, the official opening takes place as a live stream on the Art2Cure Instagram, which will be filmed in the gallery on Saturday 18 July at 15.00, in presence of many of this year’s artists.</p>
<p>In addition, a dedicated website will show artworks on display and sale. Visit the <a href="https://www.bil.com/galerie-lindependance/art2cure/index.html">website</a>.</p>
<p>Join the live stream on the open <a href="https://www.instagram.com/art2cure/" target="_blank">Instagram account</a>.</p>
<p>As with all Art2Cure exhibitions, artworks are sold at market value and revenues are split evenly between the cause and the artists.</p>
<p><b>The artists</b></p>
<p>18 Luxembourgish artists participate in the exhibition, including painters, sculptors, mixed media artists, drawers and photographers. Some of the artists, such as painter Joachim Van der Vlugt and graffiti artist SUMO, have participated in earlier editions of the event.. Among the newcomers are Nora Juhasz, a Luxembourg-based painter from Hungary who enchants with her portrayals of quirky characters. Another new addition is Joël Rollinger, well-known in the Grand-Duchy for his urban murals (for example on the Place du Théâtre), who shows a fresh side of his art with his series of wood-collages and paintings.</p>
<p>All participating artists:</p>
<p>Sandra Biewers; JKB Fletcher; Sascha Di Giambattista; Thomas Iser; Diane Jodes; Frank Jons; Nora Juhasz; Francoise Ley; Nuno Lorena; Chantal Maquet ; Sali Muller; Jim Peiffer; Martine Pinnel; Joël Rollinger; SUMO; Stéphanie Uhres; Joachim Van der Vlugt; Julie Wagener.</p>
<p><b>About Art2Cure</b></p>
<p>Art2Cure is a non-profit organisation that organises art exhibitions to raise funds for research carried out by Luxembourg-based researchers. Created in 2014 by Philippe Lamesch, Head of fundraising at the University, and Gilles Weidig, Art2Cure has organised several exhibitions in Luxembourg and abroad, with an increasing number of artists becoming involved. Since 2015 Art2Cure has raised more than 100 000 euros to support biomedical research at the University of Luxembourg, especially in the field of Parkinson's disease and rare childhood diseases.</p>
<p>COVID-19 marks a turn in the non-profit organisation’s approach, as funds will contribute to research projects related to the pandemic.</p>
<p>Contact: <a href="mailto:art2curelux@gmail.com">art2curelux@gmail.com</a>.</p>
| 7/17/2020 3:00:00 PM | EN | Art2Cure, a non-profit organisation, invites to its sixth art exhibition at the Banque Internationale Luxembourg (BIL), with art items from 18 Luxembourg-based artists. Proceeds from sales will help fund research related to education and mental health ... | | |
| Instant payments: not a second to lose! | https://www.bil.com/en/bil-group/pressroom/news/Pages/Instant-payments-not-a-second-to-lose.aspx | Instant payments: not a second to lose! | | <p>Want to transfer money to a friend for a holiday rental? Need to send money to a loved one in an emergency? Now you can with a new payment service that BIL is offering. Available 24/7, 365 days a year, instant payments allow you to transfer euros in 10 seconds. Initially only for transfers from and to accounts held with BIL, starting in September 2020, it will also be possible to make transfers to an account at another eligible SEPA (Single Euro Payment Area) bank.</p>
<p>How does it work? Nothing could be easier. As with a standard transfer, clients can choose between online or mobile banking via the BILnet app. When the payment instruction is entered, BILnet will automatically detect whether it is eligible for instant processing. If a client chooses the instant payment option, beneficiaries of the funds can use them immediately. Further information as well as the terms and conditions are available on <a href="https://www.bil.com/static/BILnet/instant-payment/index-en.html">www.bil.com/instantpayment</a>.</p>
<p>“<i>With the launch of instant payments, we are offering our clients yet another practical, user-friendly service for their daily needs. This perfectly complements the work of our advisers, who help clients make their plans possible,</i>” says Didier Richter, Head of Daily Banking and Payments at BIL.</p>
<p>The bank’s philosophy is to be both more digital and more human, which is again reflected in this new service. The main role of its Relationship Managers is to offer advice and help clients achieve their goals. At the same time, the bank is constantly innovating and improving its BILnet online banking platform with new features so that clients can enjoy practical, simple and secure services 24/7.</p> | 7/10/2020 4:00:00 AM | EN | Available 24/7, instant payments allow you to securely transfer funds from one account to another in as little as 10 seconds. | | |
| Helmut Glemser appointed Chief Risk Officer of BIL | https://www.bil.com/en/bil-group/pressroom/news/Pages/Helmut-Glemser-appointed-Chief-Risk-Officer-of-BIL.aspx | Helmut Glemser appointed Chief Risk Officer of BIL | | <p>Helmut has more than 30 years of experience in Risk Management and joins BIL from Lloyds Banking Group in London, where he was a Managing Director responsible for Risk Models and Methodologies as well as Deputy Group Head of Market Risk. Previous roles included Global Head Counterparty Credit Market Risk and Global Head Structured Products Risk Control at UBS in London. Helmut holds a Master’s degree in Mathematics from the University of Freiburg as well as a PhD in Mathematics from the ETH in Zurich.</p>
<p>He succeeds Stéphane Albert who will further contribute to BIL’s development by focusing on the roll-out of key group-wide projects and initiatives and become senior advisor to the CEO.</p>
<p>Marcel Leyers, CEO of BIL said: “<i>An efficient risk management and risk framework is a key requirement for our bank and is a top priority for me. We have made very good progress during the last years under Stéphane Albert’s leadership and will continue to do so thanks to Helmut Glemser’s strong international experience and skill-set.</i>”</p> | 7/7/2020 1:00:00 PM | EN | BIL is pleased to announce the appointment of Helmut Glemser as Chief Risk Officer. | | |
| LuxTrust: An online shopping innovation | https://www.bil.com/en/bil-group/pressroom/news/Pages/LuxTrust-An-online-shopping-innovation.aspx | LuxTrust: An online shopping innovation | | <p><b>The LuxTrust Mobile application to validate online purchases˟</b></p>
<p>Consumers who use their Token and who have the LuxTrust Mobile application will now be able to choose to use it to validate their online purchases. In this way, they will no longer be blocked if they do not have their Token to hand.</p>
<p><b>The generalised secret image for the LuxTrust Token˟˟</b></p>
<p>For users who wish to continue using their classic token, 3D Secure will in turn integrate a “secret image” into authentication. This image will systematically appear when the single-use code is entered to validate their purchases. To recall, this is the same image which is displayed when a user currently performs a banking transaction via his online bank.</p>
<p>If the user does not see or recognise this image, it is a sign that the site is fraudulent. The user is certainly being “phished” in an attempt to obtain his data. The user should immediately stop the transaction and contact LuxTrust or his bank to report it.</p>
<p><b>A first step before the generalised appearance of 3D Secure authentication in 2021</b></p>
<p>These innovations are the result of the market's adaptation to comply with the European Payment Services Directive (PSD2). The aim is further to enhance the security of online transactions and to reduce the fraudulent use of credit cards on the Internet. From 1 January 2021, the majority of European merchant sites will require consumers to authenticate payments with 3D Secure when shopping online.</p>
<p><b>A reminder from banking operators regarding consumer security</b></p>
<p>Following recent “phishing” attempts imitating their own communications, Luxembourg banks and LuxTrust have issued a reminder that they will not send any communication asking users to authenticate themselves or to link their LuxTrust account to 3D Secure.</p>
<p>In order to protect their personal data, consumers are invited to follow a few simple recommendations:</p>
<ul class="list-check">
<li>Do not answer emails or SMS messages inviting you to click on a link as a matter of urgency.</li>
<li>Never give your account number, credit card number, LuxTrust identifiers or other personal
data.</li>
<li>Do not open messages from a sender not known to you.</li>
<li>If you are in any doubt, cancel the transaction and contact your bank or LuxTrust directly.</li>
</ul>
<p><small>˟ The LuxTrust Mobile option will be available in October for Bank of Luxembourg customers.
<br>˟˟ The secret image does not apply for the LuxTrust Scan users.</small></p> | 6/30/2020 11:00:00 AM | EN | If the validation by SMS does not change, the validation with the Token, however, will benefit from two new features from June 30. | | |
| Jérôme Nèble appointed Head of Products and Markets of BIL | https://www.bil.com/en/bil-group/pressroom/news/Pages/Jerome-Neble-appointed-Head-of-Products-and-Markets-of-BIL.aspx | Jérôme Nèble appointed Head of Products and Markets of BIL | | <p>At this position, his mission will be to drive BIL Group’s investment and fund management activities, to ensure a competitive product offering for all segments across the Group, and to deliver high-end execution services to corporates, independent financial advisers, institutional and UHNW clients. His responsibilities will also include the bank’s trading floor and the bank’s balance sheet management. He succeeds Martin Freiermuth who will leave BIL to pursue other opportunities in Switzerland.</p>
<p>Jérôme Nèble joined BIL in 2002, and throughout his career, he held senior roles in Risk Management, Treasury and Financial Markets as well as in Finance. Prior to this new role, he held the position of Deputy Chief Financial Officer. He holds degrees in civil engineering from the Ecole Nationale Supérieure des Mines and in Mathematics from the University Henri Poincaré, both in Nancy.</p>
<p>Marcel Leyers, CEO of BIL said: “<i>Products and Markets is a key business area for the Bank and Jérôme will bring a lot of experience and expertise. I trust he will further develop our capabilities in these challenging times.</i>”</p> | 5/28/2020 12:00:00 PM | EN | La BIL a le plaisir d'annoncer la nomination de Jérôme Nèble en tant que Head of Products and Markets, avec effet au 1er juin. Il rejoindra également le Comité exécutif de la banque. | | |
| BIL accelerates its service digitalisation with electronic signatures | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-accelerates-its-service-digitalisation-with-electronic-signatures.aspx | BIL accelerates its service digitalisation with electronic signatures | | <p>The pandemic is hitting the country’s businesses hard. Restrictions on movement, which limit meetings in person, have shown the need to find new solutions for quick access to loans. As well as providing advice to help businesses through the crisis, the bank has decided to accelerate the digitalisation of certain procedures and transactions by introducing e-signatures. Overdraft facilities and investment loans are the first contracts for which this new service can be used.</p>
<p>Clients and legal representatives of companies can choose to receive the loan agreement which they previously negotiated with their advisor in their BILnet online banking area. It is signed with the help of a LuxTrust product which has the same legal value as a handwritten signature. Once signed, the agreement is archived in the client’s personal space. As a result, there is no more need to visit your local branch or to send documents by post. The process is quicker and clients benefit from an improved experience, they now have the choice of visiting their local branch or having their application handled remotely for final validation.</p>
<p>“Quick, easy and secure, e-signatures speed up the completion of loan applications. This is a big advantage for our clients, and we want to extend its use to other types of agreement such as mortgages, investment mandates and business account openings”, said Olivier Debehogne, Head of Retail and Private Banking Luxembourg, and Digital at BIL.</p>
<p>This service reflects the bank’s philosophy of offering both digital and human services. The main role of our Relationship Managers is to help clients achieve their goals. At the same time, the BILnet online banking platform is continually being upgraded with new features so that clients can enjoy innovative, simple and secure services 24/7. In this vein, the bank introduced fully mobile account opening for retail clients in 2018.</p> | 5/19/2020 11:00:00 AM | EN | Banque Internationale à Luxembourg (BIL) is accelerating the digitalisation of contracts thanks to e-signatures. | | |
| Banque Internationale à Luxembourg appoints Hanzhi Ding CEO of BIL Wealth Management Limited | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-appoints-Hanzhi-Ding-CEO-of-BIL-Wealth-Management-Limited.aspx | Banque Internationale à Luxembourg appoints Hanzhi Ding CEO of BIL Wealth Management Limited | | <p>Hanzhi Ding is joining BIL from Huatai International, a leading Chinese investment bank in Hong Kong and the global arm of China’s top-ranked financial group, where he served as Chief Strategist, Head of Business Development and Head of Investment Research. Previously he held various positions at Bank of America Merrill Lynch, Citigroup Global Markets and Nomura, all in Hong Kong. He possesses combined experience and proven track record in managerial functions, corporate solutions and investment advisory. Hanzhi holds a Master’s degree in Management Science and Engineering from Stanford University and a Master’s degree in Engineering from the University of Washington.</p>
<p>Private banking veteran and company founder Betty Tsui will remain member of the Board of Directors of BIL Wealth Management Limited and will serve as its vice chairman. Formerly named Sino Suisse Financial Group (Hong Kong) Limited, BIL Wealth Management Limited was acquired by Banque Internationale à Luxembourg in February 2020. It will be the main platform for the Group’s wealth management activities in the Hong Kong/Greater Bay Area.</p>
<p>With the support of its main shareholder Legend Holdings, Banque Internationale à Luxembourg has been ramping up its services for Chinese clients over the past year. In addition to BIL Wealth Management Limited in Hong Kong, the Bank has opened a Representative Office in Beijing and established dedicated wealth management China desks in Luxembourg and Switzerland to help the Bank create an international service network. Once completed, this network will link up Luxembourg, Beijing, the Hong Kong/Greater Bay Area in China and Switzerland to provide Chinese clients with a global and diversified package of financial services.</p>
<p>The above appointments are subject to customary prudential approval of the Securities and Futures Commission of Hong Kong.</p> | 5/18/2020 8:00:00 AM | EN | BIL is pleased to announce the appointment of Hanzhi Ding as the new CEO of BIL Wealth Management Limited in Hong Kong, China. | | |
| BIL Suisse further strengthen its leadership team and appoints Fabian Käslin CFO | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-Suisse-further-strengthen-its-leadership-team-and-appoints-Fabian-Kaslin-CFO.aspx | BIL Suisse further strengthen its leadership team and appoints Fabian Käslin CFO | | <p>Based on continuous implementation of the new group strategy and under the leadership of BIL Suisse CEO Hans-Peter Borgh, BIL has already hired a new Head of China Market in Switzerland last year: Roger Gröbli from Credit Suisse who is now building up this future pillar region for the bank.</p>
<p>In line with this ambitious growth plan, BIL Suisse now further renews its Executive Committee and announces the appointment of Fabian Käslin as new Member of the Executive Committee and CFO as of May 1 2020 – replacing Rolf Tresch who is leaving the bank.</p>
<p>Käslin, of Swiss nationality, joined BIL majority shareholder Legend Holdings in early 2019 as an advisor for the strategic investments in the financial sector, with a main focus on BIL. Prior to Legend Holdings, he held several leadership positions at Julius Bär with a strong focus on the international private banking business - where his last position was Deputy COO International. Before Julius Bär, he was working for UBS. Käslin holds a Master in Business Administration, speaks four languages, and has broad leadership experience in Switzerland as well as abroad.</p> | 4/30/2020 10:00:00 AM | EN | Banque Internationale à Luxembourg (BIL) has an ambitious growth plan for its international wealth management business which is managed from its two main private banking hubs, Luxembourg and Switzerland. | | |
| BIL delivers strong 2019 results | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-delivers-strong-2019-results.aspx | BIL delivers strong 2019 results | | <ul style="list-style: disc; margin-left: 20px; margin-bottom: 20px;">
<li>Core operating net income before tax: EUR 136 million, +20% (EUR 114 million in 2018).</li>
<li>Assets under Management: EUR 43.5 billion, +10.3% (EUR 39.5 billion in 2018)</li>
<li>Customer deposits: EUR 19 billion, +10% (EUR 17.3 billion in 2018)</li>
<li>Customer loans: EUR 14.7 billion, +9.9% (EUR 13.4 billion in 2018)</li>
<li>Net income after tax: EUR 113 million, -14% (EUR 131 million in 2018), mainly due to non-recurring items in 2018.</li>
<li>Common Equity Tier 1 Capital Ratio: 12.47% (12.04% in 2018)</li>
</ul>
<p>BIL’s commercial business lines delivered a solid performance in 2019. Core operating net income before tax (excluding non-recurring items) reached EUR 136 million compared with EUR 114 million in 2018, which represents an increase of EUR 23 million (20%). This positive result was further enhanced through cost containment measures and a limited cost of risk.</p>
<p>Net income after tax amounted to EUR 113 million, 14% less than in 2018 (EUR 131 million). This is mainly due to large non-recurring capital gains in 2018 from the Bank’s Investment Portfolio and from the revaluation of the “Les Terres Rouges” building complex which was divested in 2019.</p>
<p>Assets under Management increased by 10.3%, reaching EUR 43.5 billion compared with EUR 39.5 billion at the end of 2018. This increase resulted from new net inflows of EUR 1.4 billion across all business lines and from a highly positive market effect of EUR 2.6 billion thanks to favourable market conditions in 2019.</p>
<p>Customer deposits increased by 10%, reaching EUR 19 billion, and customer loans by 9.9% to EUR 14.7 billion. Loan growth was essentially due to the commercial activities’ contribution which increased by EUR 1.4 billion (+10.3% compared with year-end 2018), proof of BIL’s ongoing support of the local economy.</p>
<p>CEO Marcel Leyers commented: “We are very pleased with this good business performance, it shows that our focus on bringing innovative solutions to our clients is bearing fruit. While we already know that 2020 will be challenging, we will continue to support our clients - be they individuals or businesses - throughout this crisis to help rekindle sustainable economic growth.”</p>
<p>Luc Frieden, Chairman of the Board of Directors of BIL Group, added: “In 2019, with the support of our shareholders Legend Holdings and the State of Luxembourg, the Bank launched a new 5 year strategic plan. Despite the many global and national challenges ahead of us, BIL, as a leading universal bank, will continue to innovate, to support the Luxembourgish economy and to develop its franchise.”</p>
<p>The high quality of BIL’s services was recognised externally by numerous awards such as “Best Bank in Luxembourg 2019” by Global Finance and “Bank of the Year Luxembourg” by The Banker magazine.</p>
<p style="margin-bottom:10px;"><b>BUSINESS HIGHLIGHTS 2019</b></p>
<p>The Bank launched a new strategic plan in 2019 which foresees investments of EUR 400 million until 2025. BIL intends to position itself as an innovative bank on its Luxembourgish home market whilst developing the international wealth management and corporate banking offering.</p>
<p><b>1) Enhanced digital and payment services</b><br>
2019 saw further enhancements of BIL’s digital and payment solutions. Following the rollout of fully mobile onboarding solutions for new clients in 2018, desktop onboarding was enabled in 2019 with an ID now identification via mobile phone. In December, BIL launched a new “Pay@pump” mobile payment service for fuel, developed with the start-up CarPay-Diem. More recently, the Bank launched Apple Pay services which enables its clients to pay with an Apple device that is linked to their BIL credit or debit cards. At the same time, the Bank constantly strives to make its standard products more attractive, for example by enhancing payment services thanks to an exclusive partnership with Visa.</p>
<p><b>2) An extended range of investment services</b><br>
BIL also continued to extend its alternative investment fund range in 2019 to maximise investment opportunities for clients. In general, BIL witnessed a growing client appetite for investments in funds which offer attractive yields in the current low-interest rate environment. Discretionary management has become a flagship product thanks to a strong portfolio performance which enabled BIL to once again be included in the ranking of leading investment service providers in Luxembourg.</p>
<p><b>3) Supporting innovative companies in Luxembourg and abroad</b><br>
Throughout 2019, BIL continued to support innovative companies in Luxembourg. In April , the InnovFin guarantee agreement that was signed by the European Investment Fund and BIL in 2015 was extended to allow BIL to expand its lending to innovative Luxembourgish small and medium-sized businesses and small mid-caps. The InnovFin facility now covers up to EUR 80 million in total. In another move to boost lending to entrepreneurs, BIL signed a framework agreement with Office du Ducroire (ODL) aimed at increasing lending to Luxembourgish companies to boost their international trade. This is the first agreement of its kind between ODL and a bank.</p>
<p><b>4) On the road to China</b><br>
The acquisition of the majority stake in BIL by Legend Holdings in 2018 created many opportunities in the Chinese market. In 2019, the Bank created dedicated wealth management China desks in Luxembourg and Switzerland to service Chinese High Net Worth Individual (HNWI) clients.<br>
In September, BIL opened a Representative Office in Beijing to provide tailored support to companies, business owners, and individuals who want to invest and develop their business in Europe. In February 2020, BIL acquired 100% of Sino Suisse Financial Group (Hong Kong) Limited, an external wealth management firm based in Hong Kong, which provides financial advice to HNWIs, entrepreneurs and their families.</p>
<p style="margin-bottom:10px;"><b>OUTLOOK 2020</b></p>
<p>Since its foundation in 1856, BIL has actively supported Luxembourg’s economic growth. Now that the country is facing an unprecedented challenge with the COVID-19 pandemic, the Bank intends to do so more than ever before, joining forces with the main commercial banks of Luxembourg and the Government to support the Grand Duchy’s businesses and self-employed. For example, the Bank took the initiative to grant small and medium-sized enterprises and self-employed workers a six-month moratorium on existing loans. New credit facilities will be 85% guaranteed by the State.<br>
As a result of the worsening of the macroeconomic outlook, the Bank is expecting lower revenues and higher costs of risk and operations in the current financial year although it remains too early to quantify the impact on BIL’s financials. This will depend on a large range of external factors. Nevertheless, it should be noted that the Bank’s capital and liquidity positions remain solid with significant buffers in excess of regulatory requirements.</p>
<p>Marcel Leyers concluded: “At BIL, we are fully focused on doing everything we can to provide financial support and advice to our customers at this time of significant uncertainty. I am confident that we will all learn from this crisis, and even if we still have tough times ahead of us, we will eventually emerge stronger than ever.”</p>
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<li><a download="results-BIL-EN.jpg" href="/PublishingImages/site-groupebil/news/" target="_blank">Download infographics (EN)</a></li>
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</ul> | 4/23/2020 10:00:00 AM | EN | Banque Internationale à Luxembourg SA (BIL) announced its financial results for the year 2019. BIL recorded a good performance of all business lines with a 20% increase in core operating net income before tax. | | |
| COVID-19: Loans guaranteed by the state | https://www.bil.com/en/bil-group/pressroom/news/Pages/COVID-19-Loans-guaranteed-by-the-state.aspx | COVID-19: Loans guaranteed by the state | | <p>This mechanism complements the support measures for companies taken spontaneously by the
banking sector, more particularly <a href="https://www.abbl.lu/2020/04/17/covid-19-banks-commit-to-support-luxembourg-companies/" target="_blank">a moratorium on existing loans</a>.</p>
<p><a href="http://www.legilux.lu/eli/etat/leg/loi/2020/04/18/a307/jo" target="_blank">The law of 18 April 2020</a> (in French) specifies the conditions to be fulfilled in order to be able to claim this guarantee by the state.</p>
<p>To date, eight local banks have signed an agreement with the State Treasury allowing them to offer loans guaranteed by the state to their professional customers.</p>
<p style="margin-bottom:10px;"><b>1) What is the state guarantee?</b></p>
<p>The state guaranteed loan is a loan that a bank makes to a business or professional, despite the current high economic uncertainty, thanks to the guarantee that the state provides on a very significant part of the loan.</p>
<p>This loan remains a loan from a bank to a company: it is not a loan from the state.</p>
<p>This recourse to the banking networks for the granting of these loans was desired so that the device could quickly and very widely bring the necessary cash to companies and professionals throughout the territory, to help them to overcome the major economic stress that we are currently experiencing, and to support them in the recovery phase.</p>
<p>The state guarantee is remunerated according to a scale which depends on the size of the company and the duration of the guaranteed loan. This guarantee commission, collected by the State Treasury from the lending institution, is borne by the borrower.</p>
<p style="margin-bottom:10px;"><b>2) Which companies are eligible?</b></p>
<p style="margin-bottom:10px;">Companies, legal or natural, established in Luxembourg and who are suffering from temporary financial difficulties following the COVID-19 pandemic. More specifically, these are:</p>
<ul style="list-style-type:disc; margin-left:20px;">
<li>Artisans</li>
<li>Tradespeople</li>
<li>Manufacturers</li>
<li>Farmers and wine-growers</li>
<li>Liberal and independent professions in the broad sense</li>
<li>Associations and foundations.</li>
</ul><br>
<p style="margin-bottom:10px;">The following are however excluded:</p>
<ul style="list-style-type:disc; margin-left:20px;">
<li>Companies primarily engaged in promoting, owning, renting and trading in real estate</li>
<li>Companies whose main activity is the holding of interests in other companies</li>
<li>Corporations or natural persons in difficulty on 1 January 2020, or</li>
<li>Companies convicted at least twice for contravening the provisions prohibiting illegal work or the employment of illegally staying third-country nationals.</li>
</ul><br>
<p style="margin-bottom:10px;"><b>3) What loans are eligible?</b></p>
<p style="margin-bottom:10px;">Loans, lines of credit, investment loans or overdraft facilities that have the following characteristics are eligible:</p>
<ul style="list-style-type:disc; margin-left:20px;">
<li>A maximum duration of 6 years</li>
<li>Granted between 18 March 2020 and 31 December 2020, and</li>
<li>Granted to deal with a temporary financial difficulty following the COVID-19 pandemic.</li>
</ul><br>
<p style="margin-bottom:10px;"><b>4) What is the maximum guaranteed amount?</b></p>
<p style="margin-bottom:10px;">The same company can only benefit from loans covered by the state guarantee for a maximum amount of:</p>
<ul style="list-style-type:disc; margin-left:20px;">
<li>25% of the turnover achieved in 2019 or, where applicable, the last year available</li>
<li>For young, innovative companies created before 31 December 2019, double the total payroll for 2019 or, if applicable, the last year available</li>
<li>For young, innovative companies created after 31 December 2019, the estimated annual salary cost for the first two years of activity.</li>
</ul><br>
<p>In the event that several loans are granted to the same company, the state guarantee is acquired in the chronological order in which these loans are granted, and provided that their cumulative amount remains below the authorised ceiling.</p>
<p>The loan contract may provide that its repayment becomes immediately due as a result of the provision by the borrower of intentionally incorrect information to the lending institution.</p>
<p>The state guarantee covers a percentage of the amount of capital, interest and accessories. This percentage is set at 85%, the balance of 15% being borne by the credit institution. The amount to be compensated corresponds to the loss recognised.</p>
<p><i>In practice: anyone who thinks they can meet the conditions to be able to apply for a Governmentguaranteed loan is invited to contact their bank. This can be done by appointment or via the bank's available digital channels (e-mail, chat, mobile application) or by phone. Documentary evidence will be requested in order to comply with the request.</i></p>
<p><i>For bank loans granted before 18 March 2020, a moratorium of up to six months may be granted by participating banks under conditions approved by them.</i></p>
| 4/21/2020 2:00:00 PM | EN | The coronavirus crisis has serious consequences for the economy of our country. In this context and in order to support entrepreneurship and Luxembourg trade, the Ministry of Finance and eight Luxembourg banks united within the ABBL have cooperated. | | |
| COVID-19: Banks commit to support Luxembourg companies | https://www.bil.com/en/bil-group/pressroom/news/Pages/COVID-19-Banks-commit-to-support-Luxembourg-companies.aspx | COVID-19: Banks commit to support Luxembourg companies | | <p>The memorandum of understanding signed today between the participating banks under the coordination of the ABBL confirms this commitment, which comes in addition to the state guarantee scheme for new bank loans already agreed.</p>
<p style="margin-bottom:10px;">The memorandum covers the following points:</p>
<ul style="list-style-type:disc; margin-left:20px;">
<li>What exactly does the moratorium cover?</li>
<li>Who can request a moratorium?</li>
<li>What types of loan can be subject to the moratorium?</li>
<li>When can a moratorium be requested and how long does it last?</li>
</ul>
<br>
<p><b>Moratorium on business loans: 4 principles</b><br>
Companies affected financially by the coronavirus crisis can ask their bank for a moratorium on loans existing on March 18, 2020, according to the terms set out below.
</p>
<p style="margin-bottom:10px;"><b>1) What is covered?</b></p>
<p>The participating banks agree to grant any eligible customer, upon their request, the postponement of the repayment of the principal and interest of a loan or of the payments of a lease contract in force at March 18, 2020, for a period not exceeding 6 months.
</p>
<p style="margin-bottom:10px;"><b>2) Who can benefit?</b></p>
<p style="margin-bottom:10px;">The moratorium can be requested by non-financial companies, the self-employed, agricultural companies and non-profit associations which fulfil each of the following 3 conditions:<br>
a) The company is based in Luxembourg.<br>
b) The company has a business relationship with a participating bank on the day of the request.<br>
c) The coronavirus crisis has negative repercussions on the company’s short-term liquidity situation, which are manifested in particular by:</p>
<ul style="list-style-type:disc; margin-left:20px;">
<li>a fall in turnover or activity;</li>
<li>recourse to temporary or full unemployment;</li>
<li>total or partial closure due to measures taken by the authorities to stem the spread of the COVID-19 virus.</li>
</ul><br>
<p>The existence of negative repercussions will be assessed by the bank on the basis of the evidence produced by the client. It should be noted that the moratorium does not aim to alleviate an economic or financial difficulty existing prior to March 18, 2020 and / or that occurred in a context unrelated to the coronavirus crisis.
</p>
<p style="margin-bottom:10px;"><b>3) What type of loans are concerned?</b></p>
<p style="margin-bottom:10px;">A deferral of payment may be requested for any loan or leasing transaction within the meaning of Luxembourg legislation applicable to the financial sector. The following are however excluded:</p>
<ul style="list-style-type:disc; margin-left:20px;">
<li>loans in connection with which, on March 18, 2020, repayment difficulties were already noted;</li>
<li>loans granted to property developers for the purchase / sale / development phases.</li>
</ul><br>
<p style="margin-bottom:10px;"><b>4) What are the deadlines?</b></p>
<p>The moratorium is granted for a maximum of six months and must take effect before June 30, 2020. Requests submitted before the publication of this statement will be evaluated on the basis of the criteria set out above. If necessary, the bank will contact the borrower.
</p>
<p><i>In practice, anyone who thinks they meet the conditions to be able to request a moratorium is invited to contact their bank. This can be done by appointment or via the bank’s available digital channels (e-mail, chat, mobile application etc.) or by phone. Documentary evidence will be requested in order to complete the request.
For new loans granted after March 18, 2020 and for a maximum duration of 6 years, a state guarantee system has been developed in collaboration with the government.
</i></p>
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</style> | 4/20/2020 4:00:00 PM | EN | The coronavirus crisis has serious consequences for the economy of our country. In this context, six Luxembourg banks have taken the initiative to provide financial support to their professional customers. | | |
| Joerg Moberg appointed Head of Corporate Communications of BIL | https://www.bil.com/en/bil-group/pressroom/news/Pages/Joerg-Moberg-appointed-Head-of-Corporate-Communications-of-BIL.aspx | Joerg Moberg appointed Head of Corporate Communications of BIL | | <p>Before joining BIL Joerg Moberg worked for Fidelity International and Deutsche Bank in various roles in external and internal communications on European and national level in Frankfurt, London, Stockholm and Luxembourg. He is a Swedish citizen with German and Luxembourgish roots.</p>
<p>Karin Scholtes said: "<i>We have a very exciting time ahead of us at BIL as we are bringing our new 5 year strategic plan to life, with many great projects ahead. I’ve had the chance to work with Joerg since he joined BIL in November 2019, and I’m convinced that he is the right person for our ambitious journey forward. He brings a huge experience to the team and we are thrilled to have him on board.</i>"</p>
| 4/3/2020 10:00:00 AM | EN | Joerg Moberg, who joined BIL in November 2019, will take over the role of Head of Corporate Communications starting 1 April. | | |
| BIL supports government measures to help Luxembourgish businesses through the crisis | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-supports-government-measures-to-help-Luxembourgish-businesses-through-the-crisis.aspx | BIL supports government measures to help Luxembourgish businesses through the crisis | | <p>“<i>BIL will give its full support to the country’s economy at this difficult time. With the measures announced by the government, we will be making an unprecedented effort to help businesses at risk of financial difficulty as a result of the coronavirus crisis. The aim is to enable them to get their business growing again on healthy economic foundations when the crisis ends</i>”, said Marcel Leyers, Chairman of BIL’s Executive Committee.</p>
<p>In an agreement with the government, BIL and Luxembourg’s other main banks will grant small and medium-sized enterprises and self-employed workers a six-month moratorium on existing loans. New credit facilities will be 85% guaranteed by the State.</p>
<p>“<i>The coronavirus health crisis is hitting the country’s businesses hard. Mandatory closures and supply problems are causing sales to fall, yet certain operating costs and financial obligations remain. Our employees are all busy implementing the announced measures and helping otherwise healthy businesses to overcome the crisis</i>”, said Jeffrey Dentzer, Head of Corporate and Institutional Banking at BIL.</p>
<p>See the business support measures offered by BIL on <a href="/static/2020/COVID19/index-cib-en.html?utm_source=BIL-COM&utm_medium=PR&utm_campaign=WECARE">www.bil.com/wecare</a></p> | 3/26/2020 9:00:00 AM | EN | Since its foundation in 1856, BIL has played an active role in the main stages of Luxembourg’s economic development. | | |
| Gulf petrol stations now available through Pay@pump with BIL | https://www.bil.com/en/bil-group/pressroom/news/Pages/Gulf-petrol-stations-now-available-through-Pay@pump-with-BIL.aspx | Gulf petrol stations now available through Pay@pump with BIL | | <p>Available through the BILnet mobile app, the Pay@pump service co-developed with the Luxembourgish start-up CarPay-Diem enables BIL clients to pay for petrol on their smartphone. At its launch in December 2019, it could be used for 28 Esso stations and 3 Texaco stations. Now BIL has added 16 Gulf stations, resulting in a network of 47 partner petrol stations covering the entire country.</p>
<p>“<i>The quest to offer simple, convenient mobile services that make life easier for our clients is the essence of our digital strategy. With CarPay-Diem’s technology and the support of our new partner Gulf, clients can use this innovative service anywhere in Luxembourg,</i>” says Olivier Debehogne, Head of Retail and Private Banking Luxembourg, and Digital.</p>
<p>“<i>Our clients’ lifestyles are constantly changing, and it is very important that we keep up. Smartphones play a central role in modern life. We use them to stay connected, so why not to pay for petrol? Our philosophy is to offer clients the full range of payment options, including mobile payment,</i>” adds Lou Bausch, Marketing Manager Gulf Luxembourg.</p>
<p>How does Pay@pump work? When a driver arrives at a partner petrol station, they select the “Pay for my fuel” option in the BILnet app and choose the pump they want to use on their smartphone screen. They will receive instant confirmation that the pump is ready. Then all they have to do is fill up. Once they’ve finished, the payment is made automatically and the receipt for the transaction appears on their smartphone screen. They can leave the petrol station without a second thought.</p>
<p>To learn more about Pay@pump, visit <a href="https://www.bil.com/pay@pump">www.bil.com/pay@pump</a></p> | 3/9/2020 3:00:00 PM | EN | BIL has partnered with Gulf, adding 16 new petrol stations to the Pay@pump mobile service. | | |
| BIL opens its new branch at the Bettembourg Shopping Park | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-opens-its-new-branch-at-the-Bettembourg-Shopping-Park.aspx | BIL opens its new branch at the Bettembourg Shopping Park | | <p>Increasingly connected and better informed, clients expect fast, practical everyday services, as well as personalised advice to help them make their plans possible. BIL relies on a combination of face-to-face interactions and digital efficiency to better serve its clients.</p>
<p><b>A more human…</b></p>
<p>For several years, BIL has been shifting the operating model of its branches towards advisory services.
<br>The new BIL branch in Bettembourg offers the bank’s Relationship Managers the perfect setup to welcome clients, be they companies or individuals, to better support them in achieving their personal or professional plans. A Servibank+ area equipped with ATMs and a change machine allows clients to carry out day-to-day transactions, even when the branch is closed.
<br>For services such as opening an account, taking out a loan or investing in the future, the branch manager Mr Babacic and his team are available for appointments from Monday to Friday, 8am to 7pm.</p>
<p><b>…and digital bank</b></p>
<p>BIL is constantly improving its customer experience with the latest technological upgrades. Digital tools enable speedier and more granular assessments of clients’ finances, thereby freeing time for servicing clients and offering them tailored solutions.
<br>To meet the expectations of clients who want access to their bank anytime, BIL is investing in innovative sevices. Examples of this include allowing clients to open an account entirely online, Pay@Pump (paying for fuel using a smartphone), real-time notifications for transactions and payments and Apple Pay compatibility. Clients can also contact a BIL adviser on 4590 5000 for support in their digital journey.</p>
<p>By ramping up its human and digital resources, BIL combines customised support and expertise with a streamlined and client-focused service.</p> | 3/6/2020 12:00:00 PM | EN | The BIL branch in Bettembourg has just moved to the new Shopping Park, 263 route de Luxembourg. Starting this week, the team welcomes its clients in the brand new premises. | | |
| BIL exhibition: Iva Mrázková “Who Owns the Rain?” | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-exhibition-Iva-Mrazkova-Who-Owns-the-Rain.aspx | BIL exhibition: Iva Mrázková “Who Owns the Rain?” | | <p>The result of deep reflection, the works of “Who Owns the Rain?” provide a space for contemplation. Iva Mrázková, a painter and sculptor, shares her story, her art and her vision of the world. Trained at the prestigious Academy of Fine Arts in Prague, she developed her skills and passion for the masters at Prague’s museums and galleries. She has been breaking down conventions and alternating between painting and sculpture throughout her career. Iva Mrázková has never been afraid to send messages through her artwork. She has been through the pain of migration and trying to fit in, but through her work, she has made her mark on Luxembourg’s society and the country’s artistic landscape.</p>
<p>The “Who Owns the Rain?” exhibition is part of the bank’s mission to support artists and to introduce the public to new perspectives. Supporting art and culture is one of the four pillars of BIL’s corporate social responsibility policy (CSR), along with innovation, education and health. With this exhibition, the bank reaffirms its role in the economic, social and cultural development of Luxembourg.</p>
<p>Iva Mrázková’s exhibition “Who Owns the Rain?” is open to the public on business days from 8am to 6pm, 28 February to 22 May 2020 at the Galerie Indépendance, 69, route d’Esch, Luxembourg.</p>
<p>For more information on the artist: <a href="http://www.atelier-iva.eu/" target="_blank">www.atelier-iva.eu</a></p> | 2/28/2020 11:00:00 AM | EN | Following her first exhibition in 2014, Iva Mrázková returns to BIL’s Galerie Indépendance with “Who Owns the Rain?” from 28 February 2020. | | |
| BIL Private Lease – the fully digital car leasing solution | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-Private-Lease-the-fully-digital-car-leasing-solution.aspx | BIL Private Lease – the fully digital car leasing solution | | <p>With BIL Private Lease, BIL is offering its clients an innovative way of simplifying their daily life. The new platform enables clients of the bank who live in Luxembourg to conclude an operating lease agreement for a wide selection of customisable vehicles. This allows individuals to lease a brand new vehicle for a specified duration and mileage. All services relating to the vehicle – such as insurance and maintenance costs – are included in the monthly payment, meaning no more unpleasant surprises!</p>
<p>After registering on the digital platform <a href ="https://www.bil.com/bilprivatelease">BIL Private Lease</a>, users can choose (and customise) their vehicle from among a wide range of brands and models. They then need to enter their requirements in terms of lease duration and mileage in order to calculate the total monthly payment. Once this is done, the user will need to submit the administrative and financial documents to enable ALD to analyse their leasing application. If the application is accepted, the user will receive a lease agreement proposal in their personal area on the platform, which they will be able to sign electronically.</p>
<p>“The new fully digital leasing service we offer in collaboration with ALD is BIL’s response to shifting consumer behaviour, where the internet is now the primary source of information when it comes to choosing your car. With an operating lease, clients can enjoy the benefits of a new car without any of the constraints and at an affordable cost,” explains Alessandra Simonelli, Head of Customer Journey and Client Centricity at BIL.</p>
<p>According to Dominique Roger, Managing Director of ALD Automotive Luxembourg, “private leasing is a modern alternative to traditional financing options. By teaming up with a leading banking partner in Luxembourg, we are closing the gap between our services – which until now have been the preserve of the corporate sector – and the needs of retail clients.”</p>
<p>For more information on BIL Private Lease, visit <a href ="https://www.bil.com/bilprivatelease">www.bil.com/bilprivatelease</a>.</p> | 1/27/2020 2:00:00 PM | EN | Banque Internationale à Luxembourg is teaming up with ALD Automotive Luxembourg to launch BIL Private Lease, its fully digital car leasing service. | | |
| Apple Pay Coming to BIL’s Customers - Offering an Easy, Secure and Private Way to Pay | https://www.bil.com/en/bil-group/pressroom/news/Pages/Apple-Pay-Coming-to-BIL-Customers.aspx | Apple Pay Coming to BIL’s Customers - Offering an Easy, Secure and Private Way to Pay | | <p>Security and privacy is at the core of Apple Pay. When you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code.</p>
<p>Apple Pay is easy to set up and users will continue to receive all of the rewards and benefits offered by credit and debit cards. In stores, Apple Pay works with iPhone SE, iPhone 6 and later, and Apple Watch.</p>
<p>Online shopping in apps and on websites accepting Apple Pay is simple with Touch ID, or just double-click the side button and glance at your iPhone X to authenticate with Face ID. There’s no need to manually fill out lengthy account forms or repeatedly type in shipping and billing information with Apple Pay. When paying for goods and services on the go in apps or Safari, Apple Pay works with iPhone 6 and later, iPhone SE, iPad Pro, iPad (5th Generation), iPad Air 2, and iPad mini 3 and later. You can also use Apple Pay in Safari on any Mac introduced in or after 2012 running macOS Sierra and confirm the payment with iPhone 6 or later or Apple Watch, or with Touch ID on the new MacBook Pro.</p>
<p>For more information on Apple Pay, visit: <a href="https://www.apple.com/lu/apple-pay/" target="_blank">www.apple.com/lu/apple-pay/</a></p> | 1/21/2020 10:00:00 AM | EN | BIL today brings its customers Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient. | | |
| BIL capital increase to boost growth | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-capital-increase-to-boost-growth.aspx | BIL capital increase to boost growth | | <p>The capital increase finalized today in an extraordinary general meeting represents an important milestone in the implementation of the key priorities of BIL’s 5-year strategic plan. Backed by the strong commitment of its main shareholders, it will allow the Bank to continue the successful building up of its local commercial activities, including the loan portfolio to support Luxembourg’s economy, and to further develop its business growth in some international markets.</p>
<p>The new shares were issued to existing shareholders of the Bank, in the proportion of the capital represented by their shares.</p> | 12/16/2019 1:00:00 PM | EN | Banque Internationale à Luxembourg today announces a capital increase of 58 million euros to support the growth of its local commercial activities and its international business. | | |
| BIL teams up with Quilvest Capital Partners to expand its real estate investment offering | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-teams-up-with-Quilvest-Capital-Partners-to-expand-its-real-estate-investment-offering.aspx | BIL teams up with Quilvest Capital Partners to expand its real estate investment offering | | <p>While bond yields are stuck at historic lows, valuations of other traditional asset classes seem to have peaked. In this world of low returns, investors are keen to diversify their portfolio with long-term investments. The private markets, especially real estate private equity, are where institutional investors and family offices have long turned to in this type of financial environment.</p>
<p>Following an initial successful foray in private equity, which demonstrated the keen interest of the Bank’s clients for alternative investment opportunities, BIL is expanding its real estate investment offering.</p>
<p>The advantages of this asset class are undeniable. As well as solid growth potential, the sector is also a means of diversifying investment portfolios, alongside traditional equities and bonds. Moreover, some real estate strategies have the additional benefit of being less exposed to economic cycles and helping protect investors’ capital against inflation over the long term.</p>
<p>In order to offer its clients the best solution in this class, BIL’s partner of choice is Quilvest Capital Partners, a highly regarded firm in alternative asset management with a track record spanning more than 45 years. The aim of this partnership is to offer clients “value-add” real estate investments in Europe, which form the core of Quilvest Capital Partners' real-estate investment strategy. “Value-add” strategies focus on modernising and making properties acquired across a range of commercial real-estate segments ESG-compliant.</p>
<p>“<i>The current situation on financial markets is particularly complex and investors are keen to find innovative solutions. We are convinced that our offering developed with Quilvest Capital Partners will meet our clients’ needs,</i>” explains Fabien Machard, Head of UHNWI Entrepreneurs & Intermediaries at BIL.</p>
<p>“<i>We’re delighted to work on this real estate investment offering with BIL, one of our major long-standing partners. We specialise in “value-add” strategies, which in this low-rate environment in Europe offers a very appealing risk/return ratio,</i>” said Emile Zakhia, Head of Development, Quilvest Capital Partners.</p> | 12/13/2019 11:00:00 AM | EN | Banque Internationale à Luxembourg is expanding its range of real estate investment products, teaming up with Quilvest Capital Partners, a highly regarded asset and wealth management firm. | | |
| Pay for petrol with BIL and CarPay-Diem! | https://www.bil.com/en/bil-group/pressroom/news/Pages/Pay-for-petrol-with-BIL-and-CarPay-Diem.aspx | Pay for petrol with BIL and CarPay-Diem! | | <p>Forget going to the till to pay for fuel. Offered through the BILnet mobile app, the service Pay@pump developed jointly with the Luxembourgish start-up CarPay-Diem means you can pay for petrol via your smartphone.</p>
<p>How does it work? When a driver arrives at a partner petrol station, they select the “Pay for my fuel” service in the BILnet mobile app and choose the pump they want to use on their smartphone screen. They will receive instant confirmation that the pump is ready. Then all they have to do is fill up. Once they’ve finished, the payment is made automatically and the receipt for the transaction appears on their smartphone screen. They can leave the petrol station without a second thought. Soon, clients will also have the possibility of receiving special offers in the shops of CarPay-Diem’s partner petrol stations, directly in the app.</p>
<p>“<i>We are looking to enhance our services to simplify our clients’ lives. Our partnership with CarPay-Diem is a prime example of this. Accessible through the BILnet mobile app, this user-friendly and innovative service enables our clients to save time whenever they fill up,</i>” explains Olivier Debehogne, Head of Retail and Private Banking Luxembourg, and Digital.</p>
<p>“<i>In this day and age, banks must diversify their services and innovate if they wish to keep meeting their clients’ needs. BIL has understood this reality and positioned itself as a pioneer in this regard in Luxembourg. Adding CarPay-Diem to the BILnet app opens up a new experience to drivers while also adding value for partner petrol stations. It really is a win-win approach,</i>” notes Frédéric Stiernon, CEO of CarPay-Diem.</p>
<p>The network of partner petrol stations will gradually be extended over the coming weeks. To find out more, visit <a href="https://www.bil.com/pay@pump">www.bil.com/pay@pump</a>.</p> | 11/29/2019 4:00:00 PM | EN | BIL has teamed up with the start-up CarPay-Diem to launch a new mobile payment service for fuel – a first in Luxembourg. | | |
| New workspace for start-ups courtesy of BIL and The Office | https://www.bil.com/en/bil-group/pressroom/news/Pages/New-workspace-for-start-ups-courtesy-of-BIL-and-The-Office.aspx | New workspace for start-ups courtesy of BIL and The Office | | <p>Partners since 2017, BIL and The Office share a common aim: to support the development of entrepreneurship in Luxembourg. Two years after the company’s first coworking space opened its doors (The Office-Charlotte in Belair), CEO Gosia Kramer launched The Office-City. This second space is larger and located right next to Luxembourg’s city centre. The latest news from the partners is that BIL now has its own space within The Office-City that can host up to three start-ups for a six-month period, for free.</p>
<p>“<i>BIL is deeply committed to supporting start-ups. We work with entrepreneurs every day and many of them have told us how hard it is to find premises. With The Office, we have found a short-term solution to help these companies get off the ground, and we are pleased to have Startalers as one of our first occupants</i>” says Pierre-Olivier Rotheval, Head of Marketing and Innovation at BIL.</p>
<p>“<i>The Office shares BIL’s objective to support the development of the start-up ecosystem. We are proud of this partnership and pleased to put part of our infrastructure at BIL’s disposal. More than just a workspace, The Office provides access to our community, our network and our business partners. This unique mix helps start-ups overcome their hibernation phase</i>” explains Gosia Kramer, CEO of The Office.</p>
<p>This collaboration with The Office is the latest in a long list of BIL initiatives to foster innovation and entrepreneurship in Luxembourg. The bank is already a partner of the country’s main incubators and supports many start-ups. Its BIL Start support service gives entrepreneurs access to the various financing programmes in which the bank participates, including InnovFin. In 2015, it became the first Luxembourg bank to sign an agreement with the European Investment Fund to offer these guaranteed loans to innovative SMEs. BIL is also the only bank that is a stakeholder in the Digital Tech Fund, launched by the Ministry of the Economy in 2016. In addition to these financing solutions, the bank can now offer workspaces at The Office. For more information, visit <a href="https://www.bil.com/innovation/the-office-bil.html" target="_blank">www.bil.com/innovation</a>.</p>
<p>As well as providing a flexible working environment, The Office is a real launch pad for companies as they take off and expand. Entrepreneurs can make use of fully furnished offices, meeting rooms and inviting relaxation areas. The layout of the offices and the networking events on offer help users make contacts and build the networks that are so essential for every young entrepreneur.</p> | 11/22/2019 11:00:00 AM | EN | BIL and The Office are pleased to announce that they are renewing their partnership. The big news is that BIL is to have its own workspace in The Office-City – a coworking centre that recently opened in the heart of Luxembourg City. | | |
| BIL strengthens its international Wealth Management business with changes to the Executive Committee | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-strengthens-its-international-Wealth-Management-business-with-changes-to-the-Executive-Committee.aspx | BIL strengthens its international Wealth Management business with changes to the Executive Committee | | <p>As Group Head International and CEO of BIL Suisse, Hans-Peter Borgh, aged 46, will be responsible for all wealth management activities of the Swiss hub. It also includes the oversight and the development of the group’s activities in greater China and Dubai.<br>
Hans-Peter Borgh, of Dutch nationality, joined BIL in November 2015. He is currently in charge of Wealth Management and International Corporate Development. Prior to joining BIL, he was Chief Commercial Officer for Private Banking Asia and Middle East at ABN AMRO. He started his career at ABN AMRO in 1997 where he held different positions in retail and private banking in Europe, including Switzerland, and also spent two years at ANZ Banking Group as Regional Head Affluent Banking Asia Pacific. He holds a Master in Business Administration from Groningen University.</p>
<p>As Head of Wealth Management, Emilie Serrurier-Hoël will oversee all international wealth management activities led from Luxembourg. She will also be responsible for BIL Danmark and lead transversal activities such as wealth planning, wealth lending and business management. She will join the Executive Committee of BIL Group.<br>
Emilie Serrurier-Hoël, aged 36, has over ten years of experience at BIL. Prior to taking up her current position as Head of the Wealth Management Europe division of the Bank, she was Head of Strategy, Marketing and Business Intelligence and Head of Process Management and Organisation. A French national, Serrurier-Hoël holds a Master in Management from EM Lyon Business School.</p>
<p>Marcel Leyers, CEO of BIL Group commented: “<i>We have an ambitious growth plan for our international wealth management business and it’s important to strengthen both our private banking hubs in Luxembourg and Switzerland to meet our goals. Hans-Peter and Emilie will bring the teams tremendous knowledge, experience and client focus to drive our business to new heights</i>”.</p>
| 11/8/2019 2:00:00 PM | EN | BIL is extending its Executive Committee to develop its international Wealth management activities. | | |
| BIL strengthens its international Wealth Management business | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-strengthens-its-international-Wealth-Management-business.aspx | BIL strengthens its international Wealth Management business | | <p>Banque Internationale à Luxembourg (BIL) is pleased to announce the appointment of Hans-Peter Borgh as Group Head International and CEO of BIL Suisse, the group’s private banking subsidiary in Switzerland. Borgh will remain a Member of BIL Group’s Executive Committee, where he is currently in charge of Wealth Management and International Corporate Development.</p>
<p>BIL has an ambitious growth plan for its international wealth management business which will be managed from its two main private banking hubs, Luxembourg and Switzerland. Hans-Peter Borgh will be responsible for all activities of the Swiss hub which also include the oversight of the group’s activities in greater China and Dubai. The current CEO of BIL Suisse, Thierry de Loriol, will retire.</p>
<p>Borgh, of Dutch nationality, joined BIL in November 2015. Prior to joining BIL, he was Chief Commercial Officer for Private Banking Asia & Middle East at ABN AMRO. He started his career at ABN AMRO in 1997 where he held different positions in retail and private banking in Europe, including Switzerland, and also spent two years at ANZ Banking Group as Regional Head Affluent Banking Asia Pacific. He holds a Master in Business Administration.</p> | 11/7/2019 2:00:00 PM | EN | Banque Internationale à Luxembourg (BIL) appointed Hans-Peter Borgh as Group Head International. He will also replace Thierry de Loriol as the CEO of BIL Suisse. The changes will take effect on 1 January 2020. | | |
| BIL EXHIBITION: Steve Gerges: ONE | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-EXHIBITION-Steve-Gerges-ONE.aspx | BIL EXHIBITION: Steve Gerges: ONE | | <p>Steve Gerges was awarded this year’s Indépendance grant for his project "ONE". Structured around the creation of the universe, social interaction between humans and interaction between humans and machines, Steve Gerges' artwork presents a mixture of video, light and interactivity.</p>
<p>The artist about his work: "ONE takes us on a journey from the infinitely small to the infinitely large, which in turn becomes the starting point, a cycle, a circle, a sphere which is itself the basis of all creation (atoms) and the presumed form of the universe to this day.”</p>
<p>First awarded in 2017, the Indépendance grant aims to promote the creation and showcasing of the digital arts by supporting the production of innovative art forms. It also ensures that these works of art are made accessible to a wide audience through exhibitions in the Galerie Indépendance.</p>
<p>For BIL, this grant is part of its ongoing promotion of art and innovation, which is at the heart of its Corporate Social Responsibility (CSR) policy. As part of this, exhibitions are regularly organised at the Galerie Indépendance to showcase the talent of artists representing the national cultural scene.</p>
<p>Art enthusiasts and players in the world of digital innovation will have the chance to immerse themselves in this virtual universe from 25 October 2019 to 7 February 2020 at BIL’s Galerie Indépendance.</p>
<p>Galerie Indépendance: 69, route d'Esch, Luxembourg.</p> | 10/29/2019 9:00:00 AM | EN | ONE by Steve Gerges will be showcased at BIL’s Galerie Indépendance from 25 October. The Luxembourg-based motion designer and director is the second winner of the Indépendance grant promoting the digital arts. | | |
| Startuppers Night IV: a resounding success with over 500 entrepreneurs in attendance | https://www.bil.com/en/bil-group/pressroom/news/Pages/Startuppers-Night-IV-a-resounding-success-with-over-500-entrepreneurs-in-attendance.aspx | Startuppers Night IV: a resounding success with over 500 entrepreneurs in attendance | | <p>Tuesday’s sold-out event dedicated to innovative start-ups certainly lived up to expectations. Technoport was packed to the rafters with guests ready to party! Over 500 entrepreneurs, start-ups, and members of business incubators and accelerators came along to discover the latest tech from the region’s start-ups and take part in the evening’s activities.</p>
<p>Over the course of this festive night celebrating the geeky side of the start-up ecosystem, guests were able to test out cutting-edge innovations from virtual reality experts <b>Virtual Rangers, VR World One and VR-Land</b>, and take a sneak peek at <b>Mu Design's</b> latest prototype “Lua”: a flowerpot that turns into a virtual pet! A little further along, <b>Keymitt's</b> smart lock attracted the more curious minds, as did innovations from <b>Lion Nano System, ARSPECTRA, Polaar Energy</b> and <b>Firis</b>. For the first time, a <b>French Tech East</b> space was also set up especially for start-ups from the east of France. Different companies were on show, such as <b>CockpIT</b> and its application for construction professionals, <b>Gowork&Co</b> and its coworking spaces in hotels and restaurants, <b>Chrono-Caisse</b> and its touch-screen cash register, <b>Aqoona, Fair&Smart</b> amongst others.</p>
<p>Robots were in the spotlight this year, with a robotics competition organised by <b>Planète Sciences</b> and <b>PM-Robotix</b>: this impressive and exciting display showcased a combination of both technology and passion.</p>
<p>A thrilling escape game orchestrated by <b>216K</b>, simulation games, cosplay demonstrations and activities organised by <b>LuxCon</b> and <b>11F Gaming</b> Gaming were also on the agenda at this quirky, gourmet night.</p>
<p><b>“Celebrating the entire start-up ecosystem”</b></p>
<p>In 2016, BIL organised the very first Startuppers Night. After a successful first few years, the bank decided to make it an annual event, dedicated to innovative companies and start-ups.</p>
<p>For Pierre-Olivier Rotheval, Head of Marketing and Innovation at BIL, “<i>The evening offers the entire Luxembourgish start-up community the chance to celebrate their ecosystem in a completely different environment. While most events are centred around pitches and round tables, Startuppers Night takes a different approach. The idea is to get to know each other, relax and have fun. Entrepreneurs can discuss their latest round of fund-raising over a cocktail, then test their reflexes on a vintage arcade game. The event is just like the community: innovative, fun, open and geeky! BIL is deeply committed to working alongside start-ups. Providing them with support and making connections are part of our core values. So it was only natural that we would organise an opportunity for them to let their hair down in their own special way.
</i>”</p>
<p>Startuppers Night reflects BIL’s continued commitment to the local innovation ecosystem. It supports business accelerators and incubators like Technoport, Paul Wurth InCub, InnoHub, Nyuko and co-working space The Office. BIL is a stakeholder in the Digital Tech Fund set up by the Ministry of the Economy in 2016, and in July 2015 it became the first Luxembourg bank to sign the InnovFin guarantee agreement for innovative SMEs as part of the European Fund for Strategic Investments (EFSI).</p>
<p>The undeniable success of this fourth event once again confirms the positive energy driving entrepreneurs and the region’s ecosystem!</p>
<p>Very soon, you will be able to take a look at all the photos from the event at <a href="https://www.bil.com/startuppers-night/index.html" target="_blank">www.bil.com/startuppers-night</a></p> | 10/22/2019 10:00:00 PM | EN | Major success for the fourth BIL Startuppers Night on Tuesday, 22 October. Over 500 guests made their way to Technoport for a relaxed, laid-back evening, where they had a chance to discover the latest technology from Luxembourg’s start-up community. | | |
| BIL partners with Visa to bring enhanced payment experience | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-partners-with-Visa-to-bring-enhanced-payment-experience.aspx | BIL partners with Visa to bring enhanced payment experience | | <p>Technology and digitization have transformed services across industries including: retail, hotel, music and media.New consumer behaviors and shopping habits, combined with constant access to mobile devices, are changing consumer expectations for services to be accessible any time anywhere. At the same time, international travel has increased, even more so in Luxembourg. In 2016, 80% of Luxembourg residents traveled abroad for leisure at least once , compared with 66% two decades ago. When it comes to payments, clients expect a smooth and secure experience whether they are shopping online from home, at the supermarket or when they travel. And to simplify their daily life, BIL has partnered with Visa to revamp its debit and credit cards offering.</p>
<p>Didier Richter, Head of Daily Banking & Payments at BIL said: “We’re proud to partner with Visa, as we share a common goal to use our innovative capabilities to provide a seamless payment experience for our clients. This new range of debit and credit cards will offer additional coverage and assistance services.”</p>
<p>All cards will offer insurance and assistance services adapted to modern lifestyles, from purchase coverage for the Visa Classic to access to airport lounges and dedicated concierge service for the Visa Infinite. BIL also added perks such as insurance for stolen smartphone or bicycle or scooter assistance . With a sleek new design, the card offers user-friendly features such as a quick-read card number. Innovation will not stop there: BIL will have access to Visa’s broad range of APIs (Application Programming Interface) which will allow it to expand its own payment services offering and experience. </p>
<p>"Thanks to our payment network, BIL customers will be able to make payments to millions of merchants in more than 200 countries and territories around the world. A guarantee for them, whether travelling occasionaly or regulary, to pay in a simple and secure way around the world", explains Jean-Marie de Crayencour, Country Manager for Belgium and Luxembourg at Visa.</p>
<p>BIL will issue new Visa cards starting in December 2019. For current cardholders, they will be available in January 2020. </p> | 10/22/2019 3:00:00 PM | EN | BIL today announced its exclusive partnership with Visa to offer its clients enhanced payment services and experience. The brand new range of BIL debit and credit cards will feature a sleek design, completely overhauled coverage... | | |
| Global instant payment service will soon be a reality | https://www.bil.com/en/bil-group/pressroom/news/Pages/global-instant-payment-service-will-soon-be-a-reality.aspx | Global instant payment service will soon be a reality | | <p>A trial has just concluded in Europe between the European Central Bank (ECB), SWIFT and a group of 19 banks using the TARGET Instant Payment Settlement (TIPS) platform. 12 banks successfully sent cross-border payments from 9 countries (Australia, China, Germany, Hong Kong, Italy, Netherlands, Russia, Thailand and United States) into Europe via 5 banks, among which BIL. The fastest payment took just 41 seconds, when it can take days with traditional correspondent banking services. Having achieved impressive results in the trial, as a next step, SWIFT, the European Central Bank and the European banking community will continue work to move this initiative from proof of concept to a fully optimised, live service.</p>
<p>Through a combination of gpi cross-border payment and domestic real-time payment networks SWIFT, together with gpi banks, will facilitate instant international payments with up-front fee and foreign exchange transparency for senders, while also ensuring ubiquitous availability of instant cross-border payments globally. In the future, BIL will be able to offer the service to its customers, from large multi-nationals to SMEs and financial institutions.</p>
<p><b>Serge Munten, Head of Agile Operations at Banque Internationale à Luxembourg said: </b><br>
“BIL is proud to be the only bank in Luxembourg to have participated in SWIFT’s global gpi instant payment trials. By joining this initiative, we prove again that BIL is at the forefront of innovation. Once the service is available in Europe, we expect to deliver high value services to our clients, with instant payments 24/7 around the world.“ </p>
<p><b>Harry Newman, Head of Banking, at SWIFT said: </b><br>
“At SWIFT, we are creating a future in which cross-border payments will be as convenient as domestic ones. It is time for the whole community to come together to seize this opportunity and establish a global real-time payment service.
“We will be discussing with the MIs involved in the trials how to progress to live operation and invite all domestic real time payment systems to come and join in this exciting venture. The technology is in place, it is proven and it is now a reality that cross-border payments can be as fast as domestic payments.”</p> | 10/3/2019 2:00:00 PM | EN | BIL is one of a group of international banks, and the only one in Luxembourg, to have participated in successful SWIFT gpi instant payments trials. This new service will soon make cross-border payments as seamless and frictionless as domestic ones. | | |
| Christian Sand Kirk appointed BIL Danmark CEO | https://www.bil.com/en/bil-group/pressroom/news/Pages/Christian-Sand-Kirk-appointed-BIL-Danmark-CEO.aspx | Christian Sand Kirk appointed BIL Danmark CEO | | <p>Christian Sand Kirk has been appointed as the new CEO of BIL Danmark, effective 1 October 2019, reporting directly to Hans-Peter Borgh, Global Head of Wealth Management of BIL Group. </p>
<p>As the new CEO of BIL Danmark, Christian Sand Kirk will lead BIL’s wealth management and asset management services in Copenhagen and Aarhus, implement and deliver the bank’s strategic plan for Denmark whilst working in close collaboration with all entities of BIL Group. </p>
<p>Hans-Peter Borgh, Global Head of Wealth Management of BIL Group said: “As an experienced private banker as well as a seasoned manager, Christian will help us further grow our business in Denmark. We have an exciting opportunity to offer our unique International Private Banking service to high net worth clients in Denmark. With our focus on a specific niche market, we are looking to continue the path towards the growth of our franchise by focusing on superior client experience.”</p>
<p>Christian Sand Kirk has over 30 years of experience in Banking in Denmark, Luxembourg and England. Before joining BIL, he held the position of Head of Private Banking at Sydbank for 5 years. Prior to Sydbank, he worked for the Danske Group from 1987 to 2014 in Private banking and Investment Services. Christian Sand Kirk holds an Executive MBA from Copenhagen Business School.</p> | 10/2/2019 8:00:00 AM | EN | BIL is pleased to announce the appointment of Christian Sand Kirk as the new CEO of BIL Danmark, its branch specialised in wealth management and asset management services for clients in D... | | |
| BIL Suisse appoints Swiss private banking veteran to lead its Chinese Market | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-Suisse-appoints-Swiss-private-banking-veteran-to-lead-its-Chinese-Market.aspx | BIL Suisse appoints Swiss private banking veteran to lead its Chinese Market | | <p>Roger Groebli will be based in Zurich and report to Marco Schaller, Head of Private Banking, BIL Suisse. In his new role, he will be responsible for the development of the Chinese market.</p>
<p>He joins from Credit Suisse AG, where he was Head of Private Banking North Asia, APAC Switzerland. Prior to Crédit Suisse, Mr. Groebli was Chief Executive Officer for Reyl Overseas Ltd from 2012 to 2015. He also held senior positions at ABN AMRO in investment research (Asia) and investment advisory. </p>
<p>Thierry de Loriol, Chief Executive Officer of BIL Suisse, said: “<i>We are pleased to welcome such an experienced talent to BIL Suisse. With his extensive knowledge of the Asian markets and his track record of successfully growing wealth management businesses, we are convinced Roger Groebli will help us strengthen our expertise on China, a strategic growth area for BIL .</i>”</p>
<p>Roger Groebli holds a certificate for Private Banking from INSEAD and a diploma of Swiss Banking from the Swiss Finance Institute. Roger Groebli was also a regular speaker at CNBC and Bloomberg TV between 2005 and 2014. He has over 30 years of experience in banking and wealth management, 15 years of which focused on Asian markets. </p> | 10/1/2019 5:00:00 AM | EN | BIL Suisse, a private banking subsidiary of Banque Internationale à Luxembourg (BIL), is pleased to announce the recruitment of Roger Groebli as Market Head China, effective November 1, 2019. | | |
| Banque Internationale à Luxembourg opens a Representative Office in Beijing, China. | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-opens-a-Representative-Office-in-Beijing-China.aspx | Banque 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 | EN | BIL today announced the establishment of its Representative Office in Beijing. This makes BIL the first Luxembourg bank to open a representative office in China. The opening ceremony was held in the presence of Minister of Finance Pierre Gramegna. | | |
| Banque Internationale à Luxembourg and Bank of China (Luxembourg) sign cooperation agreement | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-and-Bank-of-China-Luxembourg-sign-cooperation-agreement.aspx | Banque 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 | EN | BIL and Bank of China, Luxembourg branch, announce today that they have signed a cooperation agreement to establish a long-term and stable business relationship. | | |
| BIL’s Open Banking platform now accessible for developers | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-Open-Banking-platform-now-accessible-for-developers.aspx | BIL’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="https://developer.bil.com" tagert="_blank">https://developer.bil.com</a></p> | 6/25/2019 12:00:00 PM | EN | With its Open Banking platform, BIL will work closely with external developers, online merchants and partners to offer new digital services to its clients, and give fresh impetus to its innovation. | | |
| Stéphanie Jauquet named BIL Business Woman of the Year | https://www.bil.com/en/bil-group/pressroom/news/Pages/Stephanie-Jauquet-named-BIL-Business-Woman-of-the-Year.aspx | Stéphanie Jauquet named BIL Business Woman of the Year | | <p>Hosted by Genna Elvin, the founder of the TaDaweb startup, the 10th BIL Business Woman of the Year award ceremony was a superb demonstration of talent, creativity and passion. Luc Frieden, Chairman of BIL’s Supervisory Board, and Karin Scholtes, Head of People, Culture and Communication, opened the ceremony with a reminder of the importance of diversity in business and highlighted the Bank’s key role in supporting entrepreneurship in Luxembourg.</p>
<p>The five finalists, Ilana Devillers (Food 4 All), Stéphanie Jauquet (Cocottes), Aida Nazarikhorram (Lux AI), eLfy Pins (Supermiro) and Karine Vallière (Jumpbox) gave lively pitches for their companies in front of an audience of over 160 people. The panel of experts drawn from BIL partners Women in Digital Empowerment (WIDE), technoport, Equilibre, Paul Wurth InCub and Schiltz&Schiltz, had the difficult task of choosing the winner. Before the award ceremony, Alexandra Fernandez-Ramos, co-founder of Travelsify and joint winner in 2017, gave a general view of the current position of women in society and in the business world. In her speech, she encouraged women to speak up and take a more active role.</p>
<p><b>And the winner is…</b></p>
<p>The jury awarded the BIL Business Woman of the Year prize to Stéphanie Jauquet, founder and CEO of Cocottes. During her pitch, she gave a moving account of her career. Launched in 2014, Cocottes already has 8 shops, 140 staff and major expansion projects in the pipe. The CEO plans on doubling Cocottes’s revenues to 15 million within 2 years.</p>
<p>“<i>Discussions amongst the jury members were very intense, as all five of these talented women deserved this award. The big winner this evening is entrepreneurship. I hope that our event will inspire other women and men to dare to follow their dream through to the end</i>”, said Karin Scholtes, Head of People, Culture and Communications at BIL and a member of the panel.</p>
<p>Launched in 2006, the Business Woman of the Year award puts the spotlight on exceptional women whose talent and energy help to strengthen the Luxembourgish economy. The projects presented by each contestant must be based on sound economic fundamentals, innovative and have a positive impact on the Luxembourgish economy. The latter has been a guiding principle of the competition since its inception.</p> | 6/6/2019 3:00:00 PM | EN | In an exciting final with five talented businesswomen, the panel has selected Stéphanie Jauquet, founder and CEO of Cocottes, as the BIL Business Woman of the Year. | | |
| BIL and Office du Ducroire sign the first framework agreement to finance companies’ international growth | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-Office-du-Ducroire-sign-first-framework-agreement-finance-companies-international-growth.aspx | BIL and Office du Ducroire sign the first framework agreement to finance companies’ international growth | | <p>International growth is a real challenge for any company, but especially small and medium-sized enterprises. Researching new clients, setting up and even adapting products to the local market require big investment. Moreover, the import-export business is cash-hungry: a foreign client may ask for an extended payment deadline, and in the case of a foreign supplier, a large down payment may be required. The company’s ability to mobilise substantial financial resources is key.</p>
<p>The agreement signed between BIL and ODL answers this challenge. It facilitates companies’ access to funding for import-export projects through a bank loan insurance policy that partially covers the borrower default risk.</p>
<p>“<i>Through this deal with ODL, we will be able to strengthen our support for the Luxembourg economy by helping companies with their international development plans. This insurance has been eagerly awaited by businesses in the country, and we are happy to be the first bank to offer it</i>”, said Marcel Leyers, Chairman of the Executive Committee of Banque Internationale à Luxembourg.</p>
<p>“<i>The fact that exporters often have trouble accessing the funds needed for their international development led us to launch this new product, which is supposed to provide leverage by protecting banks partially against the risk of non-reimbursement of the loans. This cover will allow banks to open higher credit facilities for Luxembourg companies’ international operations, while keeping their risk at an acceptable level,</i>” explained Arsène Jacoby, Chairman of ODL.</p>
<p>ODL’s bank loan insurance supplements BIL’s range of business services. From a company’s foundation to takeover, to the financing of investments and innovative or international projects, the bank accompanies small and large firms through each stage of their development.</p>
<p>To find out more about this bank loan insurance available from BIL and ODL, visit <a href="https://www.bil.com/trade-finance">www.bil.com/trade-finance</a></p> | 5/13/2019 11:00:00 AM | EN | BIL and Office du Ducroire (ODL) announce the signature of a framework agreement aimed at increasing issuance of loans to finance Luxembourg companies’ international trade. | | |
| BIL’s 2018 financial results: a good business performance in a challenging environment | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-2018-financial-results-a-good-business-performance-in-a-challenging-environment.aspx | BIL’s 2018 financial results: a good business performance in a challenging environment | | <ul class="list-check">
<li>Net income after tax: EUR 131 million, +5% (EUR 124 million in 2017 after restatement <sup>1</sup>)</li>
<li>Assets under Management: EUR 39.5 billion, +0.2% (EUR 39.4 billion in 2017)</li>
<li>Customer deposits: EUR 17.3 billion, +5.8% (EUR 16.3 billion in 2017)</li>
<li>Customer loans: EUR 13.4 billion, with a +5.2% increase in commercial loans</li>
<li>Common Equity Tier 1 Capital Ratio: 12.04%</li>
<li>Capital Adequacy Ratio: 15.62%</li>
</ul>
<p>BIL reported a solid net income after tax of EUR 131 million in 2018, compared with EUR 124 million in 2017 after restatement (+5%). The positive evolution in 2018 mainly results from:</p>
<ul class="list-check">
<li>a stability of the core operating income from the commercial business lines of EUR 500 million despite a challenging macroeconomic environment with low interest rates and regulatory changes such as the introduction of MiFID II,</li>
<li>the revaluation of investment properties resulting from an alignment of BIL’s accounting policies with those of its majority shareholder Legend Holdings generated a positive impact of EUR 35 million on BIL’s accounts, compared with EUR 10 million in 2017.</li>
</ul>
<p>All business areas (Retail & Digital Banking, Corporate & Institutional Banking, and Wealth & Investment Management) delivered a good performance in 2018, although the assets under management were impacted by negative market conditions:</p>
<ul class="list-check">
<li>Assets under Management (AuM) increased by 0.2%, reaching EUR 39.5 billion compared with EUR 39.4 billion in 2017. This increase resulted from new net inflows of EUR 0.95 billion. However, this growth was dented by a negative market effect of EUR 0.87 billion due to corrections in equity markets in the last quarter of 2018,</li>
<li>Customer deposits increased by 5.8%, reaching EUR 17.3 billion compared with EUR 16.3 billion at year-end 2017,</li>
<li>Commercial activities’ loans increased by EUR 0.68 bn (+5.2% compared with year-end 2017), once again demonstrating BIL’s support for the Luxembourgish economy. This was offset by a decrease of maturing institutional clients’ loans from Treasury and Financial Markets which positioned the annual growth at 0.3% to EUR 13.4 billion.</li>
</ul>
<p>“<i>We again delivered good results in 2018 despite challenging market conditions. Looking back at my time as CEO of BIL, I must say that I am very proud of what we have achieved as a team at the Bank over the last five years. I would like to thank the shareholders and the BIL employees for their support and commitment</i>” commented Hugues Delcourt, outgoing CEO.</p>
<p>Marcel Leyers, incoming CEO of BIL, commented: “<i>Going forward, even though global growth is currently slowing, market fundamentals remain strong and we generally retain a positive outlook on the macroeconomic environment. We will continue to invest in strategic areas and to foster innovation and we are confident that our performance will remain robust in the coming years.</i>”</p>
<p>Luc Frieden, Chairman of the Board of Directors of BIL Group, added: “<i>2018 was marked by the completion of the acquisition of Precision Capital’s majority stake in BIL by Legend Holdings. The combination of the two shareholders, the State of Luxembourg and Legend Holdings, is excellent for BIL and its clients, as it combines a strong and a stable anchoring in Luxembourg and Europe with the technological and international know how of Legend Holdings.</i>”</p>
<h4 class="title-2">2018 HIGHLIGHTS</h4>
<p>Against the background of a shareholder change and new regulatory requirements, BIL continued to implement its BIL2020 strategy in 2018 with a particular focus on the constant improvement of its client experience, including its digital offering and onboarding as well as the launch of new in-house investment funds. These efforts were recognised externally by the “Best Bank in Luxembourg” award by Global Finance for the third time in a row.</p>
<h4 class="title-2">NEW INVESTMENT PRODUCTS </h4>
<p>Regulatory change continued to be a major topic in 2018. MiFID II and PRIIPs entered into force on January 2018 bringing profound changes to the way in which BIL interacts with clients. As a result, clients have been able to benefit from a new, simplified suite of investment products with a new accompanying pricing grid since the beginning of 2018.</p>
<p>As part of its new investment offering, BIL launched 12 new in-house BIL INVEST investment funds in March for use in mandated products and for distribution through execution-only and advisory services. The funds match BIL's asset allocation model and are open for subscription to all clients in Luxembourg, Belgium, France and Germany. These funds will help BIL achieve its BIL 2020 strategy objective of becoming a well-known investment fund brand also available through digital channels in all core markets.</p>
<p>Thanks to the new shareholder Legend Holdings, BIL now has Legend Capital, an outstanding Venture Capital fund manager as a sister company. In order to give its clients the opportunity to benefit from Legend Capital's proven track record, extensive network and unique experience in the Chinese private equity market the bank launched BIL PE I fund of funds that was incorporated in the form of a Reserved Alternative Investment Fund (RAIF) in September 2018. The aim is to offer clients long-term capital appreciation by capturing all Legend Capital's private equity know-how within one single diversified fund.</p>
<h4 class="title-2">FURTHER STRENGTHENING OF THE DIGITAL OFFER</h4>
<p>Digitalisation is a key focus of the BIL2020 strategy as it enables the Bank to tailor services to the clients’ needs and to increase efficiency. Over 70% of our clients use our BILnet online banking platform and over half of them do so using our app on their mobile devices.</p>
<p>A key digitalisation milestone was met in April 2018 when BIL launched a more innovative, simple and secure version of its BILnet app. Clients can now carry out simple banking transactions via biometric fingerprint or PIN. BIL was also the first Luxembourgish bank to offer online account opening entirely from a smartphone or tablet in a matter of minutes via the new app. By answering a few questions, prospects can be identified during a webcam session, and the process ends with the electronic signature of the banking contract and the issuance of an International Bank Account Number (IBAN).</p>
<h4 class="title-2">SUPPORTING INNOVATIVE COMPANIES IN LUXEMBOURG</h4>
<p>In addition to the Bank’s ongoing efforts to provide clients with innovative services, BIL encourages entrepreneurship in Luxembourg. For example, BIL launched a dedicated innovation website (www.bil.com/innovation) in April which lists services, subsidy schemes and partnerships for innovative companies seeking a sponsor. </p>
<p>BIL is also a key sponsor of local start-up contests such as the regional semi-final of the Startup World Cup 2018 that took place in March and the 4th annual Pitch Your Start-Up competition in May. Of course BIL also continued to support its more traditional client base of established companies. For example, BIL structured and distributed a EUR 180 million syndicated loan in January 2018 by acting as the sole arranger, agent and security agent. This transaction was notable as it was the first time BIL combined equity bridge financing with a loan syndication process. BIL has the only dedicated syndication team in Luxembourg and specialises in syndicated lending under 200 million Euros.</p>
<p><small><sup>1</sup>In the financial statements as at December 31, 2018, BIL changed the measurement of property held for investment and amended the calculation of provisions for pensions . The impacts of these changes have been applied retrospectively to the 2017 published results.</p></small> | 4/26/2019 10:00:00 AM | EN | BIL announced
its financial results for the year 2018. BIL recorded a good performance of all business lines with a 5% increase in net income after tax compared to 2017. | | |
| Investment Plan for Europe: EUR 20 million for innovative SMEs in Luxembourg through EIF and BIL | https://www.bil.com/en/bil-group/pressroom/news/Pages/PME-FEI-BIL.aspx | Investment Plan for Europe: EUR 20 million for innovative SMEs in Luxembourg through EIF and BIL | | <p>An extension of an existing InnovFin agreement between the EIF and BIL will see an increase in access to finance for innovative Luxembourgish small and medium-sized businesses and small mid-caps. The operation is backed by the European Fund for Strategic Investments (EFSI), the heart of the <a href="https://ec.europa.eu/commission/priorities/jobs-growth-and-investment/investment-plan_en" target="_blank">Investment Plan for Europe</a>.</p>
<p>The original guarantee agreement, first signed in 2015, was increased by EUR 10 million to allow BIL to expand its lending to the innovative business sector in Luxembourg by twice that amount. The increase means that the EIF’s guarantee will cover a portfolio of SME and small mid-cap lending by BIL of up to EUR 80 million in total, awarding loans to well over 100 businesses.</p>
<p>« <i>The extension of our agreement with the EIF demonstrates the relevance of the InnovFin initiative and our success in unearthing and supporting innovative companies in Luxembourg. From helping start-ups to take off, to financing innovative projects designed by mature SMEs, BIL has firmly established itself as a key supporter of Luxembourg’s thriving innovation ecosystem. We are proud to open a new chapter of this success story that will encourage the local economy to further innovate and grow</i> » said <b>Marcel Leyers</b>, Chief of Corporate and Institutional Banking of BIL and incumbent CEO of BIL as of 1 May this year.</p>
<p><b>Carlos Moedas</b>,European Commissioner for Research, Science and Innovation, said: «<i> This is very good news, and yet another example of the Juncker Plan at work. It means fresh financing for Luxembourgish small and medium businesses, and this is often exactly what they need to launch new products, integrate innovative processes, create new jobs and expand beyond their local market.</i> »</p>
<p>EIF Chief Executive, <b>Pier Luigi Gilibert</b>, added: «<i> Increasing access to finance remains a crucial topic throughout Europe, including in Luxembourg. With this increase, BIL will continue to offer more favourable financing to innovative SMEs and small mid-caps, something that I’m sure the market will appreciate. InnovFin and the Investment Plan for Europe continue to be instrumental in giving opportunities to smaller businesses.</i> » </p>
<p><b>Background information</b><br><br>
The <b>European Investment Fund</b> (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.</p>
<p>The <b>Banque Internationale à Luxembourg</b> (BIL) was founded in 1856 and is the oldest multi-business bank in the Grand Duchy. It has always played an active role in the main stages of development of the Luxembourg economy. It currently operates in retail, private and corporate banking, as well as on financial markets. Employing more than 2,000 people, BIL is present in the financial centres of Luxembourg, Switzerland (since 1984), Denmark (since 2000) and the Middle East (since 2005).</p>
<p>In July 2015, BIL entered into an InnovFin agreement with the EIF, for a total guarantee amount of EUR 30 million, covering a portfolio of EUR 60 million in loans to SMEs and small mid-caps. Based on market demand, this additional guarantee amount of EUR 10m under InnovFin will raise the total guarantee to EUR 40 million, allowing BIL to cover a portfolio of up to EUR 80 million in loans to Luxembourgish businesses. </p>
<p>The <a href="http://ec.europa.eu/priorities/jobs-growth-and-investment/investment-plan_en" target="_blank">Investment Plan for Europe</a>, known as the Juncker Plan, is one of the European Commission’s top priorities. It focuses on boosting investment to generate jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment, and providing visibility and technical assistance to investment projects.</p>
<p>The European Fund for Strategic Investments (EFSI) is the main pillar of the Juncker Plan and provides first loss guarantees, enabling the EIB to invest in more projects that often come with greater risks. EFSI has already yielded tangible results. The <a href="http://ec.europa.eu/priorities/publications/investment-plan-results-so-far_en" target="_blank">projects and agreements</a> approved for financing under EFSI are expected to mobilise almost EUR 390 billion in investments and support 929,000 SMEs in the 28 Member States. More information on the results of the Investment Plan for Europe is available <a href="https://ec.europa.eu/commission/priorities/jobs-growth-and-investment/investment-plan-europe-juncker-plan/investment-plan-results_en" target="_blank">here</a>.</p>
<p>The <a href="http://www.eif.org/what_we_do/guarantees/single_eu_debt_instrument/innovfin-guarantee-facility/index.htm" target="_blank">InnovFin SME Guarantee Facility </a>is established under the "EU InnovFin Finance for Innovators" initiative developed under Horizon 2020, the EU Framework Programme for research and Innovation. It provides guarantees and counter-guarantees on debt financing of between EUR 25,000 and EUR 7.5 million in order to improve access to loan finance for innovative small and medium-sized enterprises and small mid-caps (up to 499 employees). The facility is managed by EIF and is rolled out through financial intermediaries – banks and other financial institutions – in EU Member States and Associated Countries. Under this facility, financial intermediaries are guaranteed by the EU and EIF against a proportion of their losses incurred on the debt financing covered under the facility.</p> | 4/10/2019 10:00:00 AM | EN | European Investment Fund (EIF) and BIL extend InnovFin SME Guarantee Facility agreement; EUR 20 million available for innovative SMEs and small mid-caps. | | |
| Change of CEO at BIL | https://www.bil.com/en/bil-group/pressroom/news/Pages/change-of-CEO-at-BIL.aspx | Change of CEO at BIL | | <p>Today, the Board of Directors, subject to final regulatory approval, has unanimously appointed Marcel Leyers as the new CEO of BIL Group. Marcel Leyers, 56, a Luxembourg national, joined BIL in 1983 and is currently BIL’s Head of Corporate and Institutional Banking and a member of the authorized management (comité de direction) of BIL.</p>
<p>Luc Frieden, Chairman of the Board of Directors of BIL, comments: “<i>I am sad to see Hugues Delcourt go and thank him for his excellent contribution to BIL. The Board of Directors is happy that it has been able to find in Marcel Leyers an experienced banker who knows BIL and its home market very well. I am very confident that the transition will be a success, as Hugues and Marcel have worked closely together with the rest of the Executive Committee for the past five years. They will ensure a smooth transition until May 1, 2019.</i>”</p>
<p>Peng Li, Senior Vice President and a member of the Executive Committee of Legend Holdings adds: “<i>We respect Hugues' decision and we would like to thank him for all that he has done over the past five years for the development of BIL. He will remain a close friend of the bank and of Legend Holdings. We welcome Marcel as the new CEO. Legend Holdings has full faith in his ability to continue to lead BIL on the path of sustainable growth. We will continue to strongly support the bank, Marcel and the Executive Committee in implementing the medium and long term strategy of BIL.</i>" Legend Holdings has decided to appoint Hugues Delcourt as an advisor for its overseas investment activities.</p>
<p>Hugues Delcourt comments: “<i>I am very grateful to our Chairman and the shareholders for the way they have accepted my decision. I am very proud of what we have achieved as a team at the bank and would like to thank the board, the shareholders, my colleagues at the Executive Committee and all staff at BIL for their support, hard work and friendship. I am delighted that I will remain closely associated to Legend Holdings and consequently to BIL.</i>”</p>
<p>The incoming CEO Marcel Leyers states: “<i>As BIL is about to embark on its 2025 strategy, I look forward to leading BIL and its teams that I know so well to the next chapter of its long history. I am confident that BIL, as an independent systemic bank, will be able to further strengthen its key role as a stable and innovative bank in the Luxembourgish economy and on the international markets.</i>”</p> | 3/22/2019 9:00:00 AM | EN | After five years as CEO of Banque Internationale à Luxembourg, Hugues Delcourt has decided to leave his position. | | |
| BIL EXHIBITION: ECCO by Elisabeth Calmes | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-EXHIBITION-ECCO-by-Elisabeth-Calmes.aspx | BIL EXHIBITION: ECCO by Elisabeth Calmes | | <p>Born in Luxembourg in 1947, Elisabeth Calmes is an artist with an unusual background. After graduating from ENSAAMA (École nationale supérieure des arts appliqués et des métiers d’art – College of Arts and Design) in Paris, she began her professional career as an interior designer. It wasn’t until the 1980s that she was able to dedicate herself to her true calling, painting. Since 1987, her work has been shown in galleries across Europe and the US.</p>
<p>As an exhibition, <i>ECCO</i> is compelling because it brings together works that draw simultaneously on the two major undercurrents in painting since the beginning of the 20th century, figurativism and abstraction. <i>ECCO</i> also traces Calmes’ journey through the years, between Paris, Brooklyn (where the artist lived in 2008 and 2009) and Luxembourg.</p>
<p>Of the exhibition and her work, Calmes had this to say: “<i>ECCO is the word my painting represents, the one it seems to speak most clearly. ECCO. This is the results of the developments over the past few years. The subjects are those life has illuminated. Cities, music and nature are all events that I have metabolised on the canvas.</i>”</p>
<p>Elisabeth Calmes’ <i>ECCO</i> will be open to the public on business days from 8 March to 24 May 2019 (8am to 6pm) at Galerie L’Indépendance in Luxembourg, 69 route d’Esch.</p> | 3/8/2019 2:00:00 PM | EN | From 8 March to 24 May 2019, the Galerie Indépendance at Banque Internationale à Luxembourg will be displaying work by Elisabeth Calmes in her exhibition entitled ECCO. | | |
| The 2019 Business Woman of the Year competition has begun | https://www.bil.com/en/bil-group/pressroom/news/Pages/Business-Woman-of-the-Year-2019.aspx | The 2019 Business Woman of the Year competition has begun | | <p>According to a study by the OECD<sup>1</sup> , women remain significantly under-represented among business leaders although the participation of women in the labour market has increased steadily over the last 50 years. Only 30% of companies in OECD countries are reported to be owned by women despite the fact that entrepreneurship is recognised as a powerful vehicle for job creation, innovation and growth.</p>
<p>Conscious of this untapped potential and in line with its goal of financing the national economy, BIL launched the Business Woman of the Year competition in 2006. The aim of the competition remains unchanged: to emphasise the important role that women play in business and to support female entrepreneurship. In this 10<sup>th</sup> edition, innovation will once again be a key requirement for taking home the award.</p>
<p><i>“Barriers to greater gender equality still exist in the working world, but skill and talent know no gender. With the Business Woman of the Year competition, we wish to make our contribution to bridging the gender gap by putting the spotlight on female entrepreneurship”</i>, said Karin Scholtes, Head of People, Culture and Communication at BIL.</p>
<p>The panel of judges, composed of male and female representatives of BIL and its partners Technoport, Jonk Entrepreneuren, Paul Wurth InCub, Schiltz & Schiltz, Equilibre and WIDE, will select an innovative project led by a woman, who may be a manager in a start-up or an SME established in Luxembourg.</p>
<p>Contestants must submit their application at <a href="www.bilbusinesswoman.com" target="_blank">www.bilbusinesswoman.com</a> before 24 April. Submitted projects must be innovative and have a positive impact on Luxembourg’s economy. The judges will then invite the top five contestants to pitch their projects on 5 June 2019 before selecting the Business Woman of the Year, who will be presented with a cheque for €10,000.</p>
<p>The complete terms and conditions of the Business Woman of the Year competition are available at <a href="www.bilbusinesswoman.com" target="_blank">www.bilbusinesswoman.com</a>.</p><br>
<p><sup>1</sup> Closing the Gender Gap: Act Now, OECD</p> | 3/4/2019 11:00:00 AM | EN | BIL and its partners Technoport, Jonk Entrepreneuren, Paul Wurth InCub, Schiltz & Schiltz, Equilibre and WIDE have launched the call for entry for the Business Woman of the Year competition. | | |
| Indépendance grant 2019 – call for applications launched | https://www.bil.com/en/bil-group/pressroom/news/Pages/independance-grant-2019-call-for-applications-launched.aspx | Indépendance grant 2019 – call for applications launched | | <p>The Indépendance grant was first awarded in 2017 to architect-cum-artist Laura Mannelli. Based on an immersive world inspired by Dante’s Divine Comedy, her exhibition <i>The Promises of Monsters</i> was very popular. Eager to repeat last year’s success, Banque Internationale à Luxembourg, the Fondation Indépendance and Fonds culturel national have launched another call for applications. All information concerning the eligibility criteria, the financial conditions, the necessary documents and the selection process can be found on the website of the <a href="http://www.focuna.lu/fr/Repertoire-des-bourses-et-residences/category/Arts-numeriques/Bourse-Independance-Bourse-de-creation-et-de-diffusion-en-arts-numeriques" target="_blank">Focuna</a>. Applications are open until 31 March 2019.</p>
<p>Created in 2017, the Indépendance grant aims to promote the creation and showcasing of the digital arts by supporting the production of innovative art forms. It also ensures that these works of art are made accessible to a wide audience through exhibitions organised in the Galerie Indépendance and the production of a catalogue.</p>
<p>For BIL, this grant is part of its ongoing promotion of art and innovation, which is at the heart of its Corporate Social Responsibility (CSR) policy. As part of this, exhibitions are regularly organised at the Galerie Indépendance to showcase the talent of artists representing the national cultural scene.</p> | 11/19/2018 2:00:00 PM | EN | Banque Internationale à Luxembourg and the Fondation Indépendance, in partnership with Fonds culturel National (National Cultural Fund), have launched a call for applications for the Indépendance grant, which is dedicated to promoting the digital arts. | | |
| BIL inaugurates its new branch in Mondorf-les-Bains | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-inaugurates-its-new-branch-in-Mondorf-les-Bains.aspx | BIL inaugurates its new branch in Mondorf-les-Bains | | <p>This new branch has a warm, modern interior with dedicated functional areas, combining direct client support with remote banking services – something that the bank is rolling out across its entire network.</p>
<p>Branch manager Marcel Pleimling and his team of expert advisers are available Monday to Friday from 9am to 12pm and from 1.30pm to 5pm (from 8am to 7pm by appointment only). Business owners, retailers and craftsmen benefit from dedicated services and advice to help them develop their business. Private customers also receive the necessary support to see them through key moments in life: buying a home, financing studies, preparing for retirement, etc.
<br>A <i>self-banking</i> area with two ATMs and a latest-generation change machine is accessible 24/7. In the <i>online</i> area, clients can quickly carry out their everyday banking transactions, either independently or with the help of an adviser. No more waiting in line! </p>
<p>The streamlined, modern space offers an improved client experience. In the same vein, BIL is also developing permanently accessible, user-friendly digital services. This ensures that clients always get the full BIL experience, both for daily banking on its online BILnet platform or via tailored advice in branch.</p>
<p><b>Address of the new Mondorf-les-Bains branch:</b>
<br>1 Avenue Frères Wiesenbach
<br>L-5628 Mondorf-les-Bains</p>
<p>The branch is open Monday to Friday, from 9am to 12pm and from 1.30pm to 5pm (from 8am to 7pm by appointment only).</p> | 10/17/2018 3:00:00 PM | EN | BIL is continuing the transformation of its branch network to offer its clients unrivalled services and support. The new Mondorf-les-Bains branch, located at 1 Avenue Frères Wiesenbach, has now been inaugurated. | | |
| BIL EXHIBITION Gust Graas, 2003–2018 works | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-EXHIBITION-Gust-Graas-2003-2018-works.aspx | BIL EXHIBITION Gust Graas, 2003–2018 works | | <p>Gust Graas has a unique status in Luxembourg. A talented corporate executive, he gained renown as the visionary President of CLT (Compagnie Luxembourgeoise de Télévision), as well as Chair of the Board of Directors of Luxair. He was also a member of BIL’s own Board of Directors throughout the 1980s. At the same time, Graas is an avid painter who has now become one of Luxembourg’s most important Lyrical Abstractionists.</p>
<p>The Galerie Indépendance brings together the artist’s major works created between 2003 and 2018. Though figurative at the beginning of his career, Graas’ painting grew freer throughout the 1970s under the influence of the Paris School. Some of his earlier abstract works are reminiscent of Maurice Estève. As time went on, he developed and refined his own style. His light, colourful palette is distinct, and glimmers with the Mediterranean sun of Mallorca, his home of many years.</p>
<p>“<i>I paint a world that is wide open, jubilant; a world in celebration, in motion, in transformation</i>”, Grass explains. “<i>I meander through light and shadow, among the solid and the nebulous, from explosion to quiet softness, between the gentle breeze and the yawning chasm. My forms and my colours are imbued with beauty, joy and power.</i>” </p>
<p>The exhibition Gust Graas, 2003–2018 will be open to the public on business days from 12 October 2018 until 8 February 2019 (8am to 6pm) at Galerie Indépendance in Luxembourg, 69 route d’Esch.</p> | 10/15/2018 3:00:00 PM | EN | From 12 October 2018 to 8 February 2019, Banque Internationale à Luxembourg’s Galerie Indépendance will be displaying works by painter Gust Graas. On these canvasses created between 2003 and 2018, the artist unfolds a universe of magic and poetry. | | |
| Full house at BIL’s third Startuppers Night | https://www.bil.com/en/bil-group/pressroom/news/Pages/full-house-at-bil-s-third-startuppers-night.aspx | Full house at BIL’s third Startuppers Night | | <p>Geekiness prevailed on Thursday at the Technoport in Belval. Startuppers Night once again drew a crowd. Entrepreneurs, start-ups, incubators and accelerators stood shoulder-to-shoulder to test the latest technological innovations in the world of virtual reality, video games and artificial intelligence. They were introduced to the new electric smart scooter from Ujet, could test the multi-sensory display screen from Sniffy with its amazing fragrances, and check out the painting robot from Mexence and famous lunar rover from iSpace. The luckiest went away with volume 0 of the Ragnafall and Imperium Circus mangas signed by Cyril Marchiol from Tsume.</p>
<p>The atmosphere was festive yet relaxed. As the music played, attendees were able to take part in various recreational activities: puzzles, virtual reality games and, of course, cosplayer performances, alongside the famous Batmobile from the world of the superhero Batman. More nostalgic guests could also try retrogaming in a throwback to the 1980s. </p>
<p><b>A vibrant, eclectic, tech and fun event!</b></p>
<p>BIL launched Startuppers Night in 2016. Based on this initial success, BIL decided to make it an annual event for innovative companies and start-ups in Luxembourg.</p>
<p>According to Pierre-Olivier Rotheval, Head of Marketing and Innovation at BIL, " <i>the growing Luxembourg start-up community is becoming increasingly fragmented. Startuppers Night is a chance to come together in a different, offbeat environment. To stand out from the multitude of pitch sessions, panels and other round tables, we wanted to offer something different: a vibrant, eclectic, tech and fun event! A reflection of the start-up community.</i>"</p>
<p>A major player in Luxembourg's start-up ecosystem, BIL supports accelerators and incubators such as Technoport, Paul Wurth InCub, InnoHub, Nyuko and the co-working space The Office. With its BIL Start support service, the bank gives start-up entrepreneurs access to the various financing programmes in which it participates. BIL is a stakeholder in the Digital Tech Fund launched by the Ministry of the Economy in 2016, and in July 2015 it became the first Luxembourgish bank to sign the InnovFin guarantee agreement for innovative SMEs as part of the European Fund for Strategic Investments (EFSI).</p>
<p>The undeniable success of this third event once again shows the entrepreneurial energy and growth of the start-up ecosystem in Luxembourg.
</p>
| 9/21/2018 1:00:00 PM | EN | BIL's third Startuppers Night at the Technoport on Thursday, 20 September was a resounding success. | | |
| BIL donates €5,000 to Médecins du Monde | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-donates-5000-euro-to-medecins-du-monde.aspx | BIL donates €5,000 to Médecins du Monde | | <p>The heavy downpours in Luxembourg in early June caused material damage to Médecins du Monde’s medicine supply, which was flooded and had to be partly thrown away. </p>
<p>A partner since 2015, BIL and its staff members wasted no time in responding to the non-profit organisation’s appeal for donations. From 18 June to 6 July, the bank organised a major collection of medicines and toiletries. Thanks to the fantastic efforts of its staff, BIL was able to gather more than 300 products (essentials such as toothpaste, moisturisers, mouthwash, paracetamol, etc.). In addition to this generous gesture, the bank also made a donation of €5,000. </p>
<p>The donated products and the €5,000 cheque were presented to Médecins du Monde on 16 July at its Healthcare and Advice Centre in Bonnevoie, Luxembourg City. Through drives like these, the bank helps finance the organisation’s activities (more than 90% of its funding comes from donations). </p>
<p><i>“We are proud to support Médecins du Monde. Their impressive work reminds us that access to healthcare is not universal, even in our country,”</i> commented Hugues Delcourt, CEO of Banque Internationale à Luxembourg. </p>
<p><i>“In Luxembourg, not everyone has access to healthcare. Some are excluded, unable to exercise their right to healthcare or waiting for their application to be accepted,”</i> explained Sylvie Martin, General Manager at Médecins du Monde. </p>
<p>Médecins du Monde provides care to vulnerable individuals – the poor, isolated, and those living in unsatisfactory housing conditions – thanks to the work of its teams of volunteers, which include doctors, nurses, dentists, ophthalmologists, psychologists and also non-medical workers.</p>
| 7/26/2018 9:00:00 AM | EN | BIL staff members rallied together to collect medicines and toiletries in response to the appeal for donations launched by Médecins du Monde in June. The bank also contributed to this show of solidarity with a €5,000 donation. | | |
| Legend Holdings receives regulatory approval for acquisition of Banque Internationale à Luxembourg | https://www.bil.com/en/bil-group/pressroom/news/Pages/legend-holdings-receives-regulatory-approval-for-acquisition-of-banque-internationale-a-luxembourg.aspx | Legend Holdings receives regulatory approval for acquisition of Banque Internationale à Luxembourg | | <p>A delegation from Legend Holdings, including Liu Chuanzhi and Zhu Linan (Chairman and President of Legend Holdings respectively), will be travelling to Luxembourg to mark this important milestone for both BIL and Legend Holdings between 10 and 12 July.</p>
<p>As stated in September 2017, the acquisition represents a long-term strategic investment for Legend Holdings. BIL’s asset scale, profit and revenue growth potential and business stability qualify BIL as a pillar asset for Legend Holdings, underlining its long-term investment horizon. BIL is a well-run and well-capitalised bank with a diversified business model and a focused, long-term strategy. Its long history and salient presence in Luxembourg are highly valued by Legend Holdings.
<br>Legend Holdings is committed to providing the financial and operational support to maintain and grow the BIL brand both domestically and internationally, and to further invest in BIL’s client offering. Legend Holdings is looking forward to supporting the existing Management Board in continuing to implement the BIL2020 strategy to achieve sustainable growth.</p>
<p>In line with the commitments made in September 2017, Legend Holdings will:</p>
<ul class="list-check">
<li>Maintain and invest further in the development of the BIL brand in Luxembourg, Europe and globally;</li>
<li>Invest in BIL’s people, support employment and provide international career opportunities;</li>
<li>Retain the current governance and management of the bank: Luc Frieden will remain BIL Chairman, while Hugues Delcourt will remain CEO.</li>
<p>Under the stewardship of Legend Holdings and the Grand Duchy of Luxembourg, BIL’s commitment to its home market of Luxembourg will remain as strong as ever.</p>
<p><b>Liu Chuanzhi, Chairman of Legend Holdings, said:</b> “<i>We are delighted to welcome BIL into the Legend Holdings group. We recognize BIL’s status as a national champion and are excited by its growth potential, the quality of its client proposition, and above all, its people. “We look forward to fulfilling our commitment to maintain continuity at BIL while at the same time investing to pursue the opportunities that the Board and Legend Holdings unanimously see ahead for the bank.</i>”</p>
<p><b>George Nasra, CEO of Precision Capital, said:</b> “<i>Six years after acquiring a majority stake in BIL, we take great pride in the significant progress the bank achieved under our stewardship. We would like to take this opportunity to express our gratitude to the Luxembourg State, BIL’s Board of Directors, its management team and its more than 2,000 employees for welcoming us, working with us and, together, making the bank even stronger. We wish everyone at BIL continued success moving forward.</i>”</p>
<p><b>Luc Frieden, Chairman of BIL, said:</b> “<i>Today’s announcement is an important milestone in BIL’s development. As a long-term diversified investment holding company, Legend Holdings enjoys a reputable brand and has extensive global resources. We believe that leveraging Legend Holdings’ strengths will provide strong support to BIL's development in the future. As a leading universal bank, we will continue to support a significant part of the Luxembourg economy by providing a comprehensive range of retail, wealth management and corporate and institutional banking products and services to our clients.</i>”</p>
<p><b>Hugues Delcourt, CEO of BIL, said:</b> “<i>With the support of the Board, my management team will continue to build on our BIL2020 strategy. We will continue to reinforce the bank’s position in our existing markets while constantly enhancing our client offering and growing our geographic reach. At the same time, Legend Holdings’ extensive networks and significant experience in financial technology, Artificial Intelligence and big data will further support our ambitions.</i>”</p> | 7/2/2018 11:00:00 AM | EN | Further to the announcement of 1 September 2017, Legend Holdings Corp., has received all regulatory approvals including those of the CSSF and the ECB for the acquisition of Precision Capital’s 89.936% stake in BIL. | | |
| Involving parents in their children’s education | https://www.bil.com/en/bil-group/pressroom/news/Pages/involving-parents-in-their-children-s-education.aspx | Involving parents in their children’s education | | <p>Quality education is essential during early childhood. Children’s ability to learn is active right from their first years of life, and is inextricably tied to the quality of care they receive and their home environment. Parents have a duty to protect their children, take good care of them, and bring them up in a healthy and stimulating environment that will allow them to develop and grow, without failing to guide them in their schooling. <b>The Global Day of Parents</b>, instituted in 2012 by the United Nations and celebrated each 1 June, reminds us of the importance of this role. </p>
<p><b>A kindergarten in Dosso that is open to all</b> </p>
<p>Early childhood education remains a huge challenge in Niger, which is among the world’s least developed countries, where over 40% of children under five are seriously delayed in their growth due to malnutrition. This is the challenge faced by the SOS Kindergarten in Dosso, a city in the southern part of the country where <b>children under five make up 49.5% of the population. </b> The SOS Kindergarten mainly serves children in the local community, more than half of whom live in a condition of extreme vulnerability. </p>
<p>Since 2016, Banque Internationale à Luxembourg has supported SOS Villages d’Enfants Monde and its work to educate young children in Dosso. From 2010 to 2017, the kindergarten had 509 new registrations, and hundreds of these children have since moved on to primary school. Guided by teachers who receive continuing education in fields like child protection and child psychology, the children benefit from programmes designed to foster their learning and development, with citizenship education, training of fine motor skills and an introduction to language and music. The kindergarten also prepares them for primary school and helps meet their other basic needs, guaranteeing them balanced meals and medical check-ups, and encouraging parents to play an active role in their learning. </p>
<p><b>Amadou, a child full of life! </b> </p>
<p>Last year, Amadou, an incredibly high-spirited kid despite his tough living conditions, started his final year of kindergarten. Hear his story and read <b>the latest news from the SOS Kindergarten in Dosso</b> on the Facebook pages of SOS Villages d’Enfants Monde and BIL.</p>
| 6/1/2018 9:00:00 AM | EN | BIL’s Chief Executive Officer Hugues Delcourt presented a cheque for €30,000 to Sophie Glesener, Director of SOS Villages d’Enfants Monde, to help fund the SOS Kindergarten of Dosso, Niger. | | |
| BIL opens a new branch in Differdange | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-opens-a-new-branch-in-differdange.aspx | BIL opens a new branch in Differdange | | <p>The new branch of Banque Internationale à Luxembourg, located in the Opkorn shopping centre in Differdange, has been fitted out to reflect the new organisational model already successfully implemented at the bank’s other branches across the country. The Differdange-Opkorn branch has a warm, modern interior with clearly defined functional areas to make the client experience more fluid. A self-banking area with latest-generation ATMs and change machine is accessible during the shopping centre’s opening hours. Clients can carry out most of their cash transactions in this area. In the online area, which is equipped with tablets and PCs, clients are able to carry out their everyday banking transactions. Free, secure WiFi access is available throughout the branch. This new branch layout, which also includes private rooms, has been designed to optimise comfort and confidentiality. Branch manager Jean-Jacques Rinaldis and his specialist team of advisers will focus on supporting the development of companies and local SMEs and on assisting private clients throughout key periods of their life such as buying a new home, financing studies or saving up for their pension…</p>
<p>This opening illustrates the bank’s service philosophy: offer clients permanently accessible, user-friendly digital resources for their daily needs, and provide customised advice to help them materialise their projects.</p>
<p>At the opening, Mr Hugues Delcourt, CEO of BIL, and Mr Rinaldis handed over two cheques, one to the Nouvelle PNP – Fir d’Kanner a Latäinamerika organisation, the other to the Luxembourg Science Center. With these donations, BIL reaffirmed its long-term commitment to Luxembourg non-profit and educational organisations.</p>
<p>Jean-Jacques Rinaldis and his team are available from 10am to 7pm, Monday to Friday, and 9am to 12pm on Saturdays.</p>
<p><b>Address of the new Differdange Opkorn branch:</b><br>
Centre Commercial Opkorn<br>
1, boulevard Emile Krieps<br>
L-4530 Differdange</p> | 4/27/2018 12:00:00 PM | EN | Located in the Opkorn shopping centre, the new BIL branch is now open. | | |
| BIL launches 100% mobile account opening | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-launches-100-percent-mobile-account-opening.aspx | BIL launches 100% mobile account opening | | <p>BIL is the first Luxembourg bank to allow prospective clients to open an account entirely from their smartphone or tablet through the BILnet app. The whole process takes just a few minutes. As new clients can show proof of identity during a secure video chat, everything can be done online! This account offers clients tailored advice, a bank card and the ability to conduct all their banking operations via BILnet.</p>
<p>In addition to this new service, BIL has completely redesigned the look of its BILnet app. Innovative, simple and secure, it has all the features of a real bank. Clients can carry out even the most complex banking transactions at the touch of a button. Security is at the forefront of this app, with the option to use your biometric fingerprint or PIN for simple transactions, and LuxTrust authentication for more advanced transactions.</p>
<p>The launch of these innovative services reflects one of BIL’s broader goals: to put the client perspective at the heart of its services. To this end, the bank has sought to focus on the effective incorporation of digital technology with a close client-adviser relationship.</p>
<p>"<i>With digital technology, we have a fantastic opportunity to develop our services online and in branches. Our goal is to give our clients greater autonomy with quick, easy and secure digital applications, and to provide tailored advice with our relationship managers.</i>” explains Olivier Debehogne, Head of Retail and Digital Banking. “<i>The ability to open an account entirely online is only the first step; we will continue to add new features to our BILnet app in the weeks to come, like budgeting tools.</i>”</p>
<p>The bank’s philosophy, centred on digital technology and tailored advice, finds its meaning online and in-branch services. The main role of its relationship managers is to offer clients personalized advice and solutions tailored to their life projects. BIL’s online banking platform is also continually being updated with new features so that clients can enjoy innovative, simple and secure services 24/7.</p>
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| 4/19/2018 8:00:00 AM | EN | With its all-new BILnet app, BIL is the first Luxembourg bank to offer the possibility to open an account on a mobile device. The bank continues to innovate and offers its clients a richer, more connected and more personal experience. | | |
| BIL 2017 financial results - A strong performance of all business lines | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-2017-financial-results.aspx | BIL 2017 financial results - A strong performance of all business lines | | <ul class="list-check">
<li>Net income after tax: EUR 117 million, +5.7% (EUR 110 million in 2016)</li>
<li>Core operating profit before tax (excluding capital gains and non recurring items): EUR 135 million, +9.3% (EUR 124 million in 2016)</li>
<li>Assets under Management: EUR 39.4 billion, +4.5% (EUR 37.7 billion in 2016)</li>
<li>Customer deposits: EUR 16.3 billion, +1.2% (EUR 16.1 billion in 2016)</li>
<li>Customer loans: EUR 13.3 billion, +10.8% (EUR 12 billion in 2016)</li>
<li>Common Equity Tier 1 Capital Ratio: 12,21%</li>
<li>Capital adequacy ratio: 16,48%</li>
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<p>BIL performed well across its Retail & Digital Banking, Corporate & Institutional Banking, and Wealth & Investment Management business lines. At EUR 501 million, revenues stemming from its commercial activities increased strongly by +7.9%, in line with BIL2020 strategy expectations.
<br>Assets under Management (AuM) increased by 4.5% to EUR 39.4 billion, resulting from new net inflows of EUR 1 billion and a positive market effect of EUR 0.7 billion. Customer deposits were up by 1.2%, reaching a total of EUR 16.3 billion. The stronger growth in AuM compared to deposits is due to conversion initiatives, especially in Wealth Management, aiming at improving investment returns for our clients.
<br>Customer loans across all business areas reached EUR 13.3 billion, compared to EUR 12 billion at year-end 2016, once again demonstrating BIL’s support for the Luxembourgish economy and for local entrepreneurs.
<br>These good performances led to a growth by +5.7% of the net income after tax, standing at EUR 117 million in 2017, compared with EUR 110 million in 2016.
<br>These figures will be submitted to BIL’s annual general meeting of shareholders on 27 April 2018.</p>
<p>“<i>We are proud to say that, in 2017, we once again met the financial targets we committed to in our BIL2020 strategy. This robust performance shows that BIL, with the support of its clients and its shareholders and the dedication of its employees, has truly regained its place as a strong and growing universal bank that is firmly rooted in the local economy. We are also delighted that the investments we are making to modernize and to transform our bank into a leader in innovation in Luxembourg are starting to pay off.</i>” commented Hugues Delcourt, CEO.</p>
<p>Luc Frieden, Chairman of the Board of Directors of BIL Group, added: “<i>2017 is a further milestone in the continuous growth story of BIL of the past few years, which is the result of the strategy approved by the board as well as by the shareholders of BIL. This strategy aims at keeping BIL as a strong and financially sound Luxembourg financial institution, deeply rooted in and serving Luxembourg, its border regions and some selected foreign markets.</i>”</p>
<p>The high quality of BIL’s services was recognised externally by numerous awards such as “Best Bank in Luxembourg 2017” by Global Finance and “Bank of the Year Luxembourg” by The Banker magazine for the second time in a row.</p>
<p>In September 2017, Legend Holdings Corp., a Hong Kong-listed diversified investment group, announced the acquisition of Precision Capital’s stake in BIL. This transaction is subject to the approval by the European Central Bank, the Commission de Surveillance du Secteur Financier and other relevant regulatory authorities.</p> | 3/29/2018 9:00:00 AM | EN | BIL announced its financial results for the year 2017. BIL recorded a strong performance of all business lines with a 5.7% increase in net income after tax. | | |
| New BIL Innovation Award at Pitch Your Startup 2018 | https://www.bil.com/en/bil-group/pressroom/news/Pages/new-bil-innovation-award-at-pitch-your-startup-2018.aspx | New BIL Innovation Award at Pitch Your Startup 2018 | | <p>A keen actor in the development of the Luxembourg start-up ecosystem, BIL has decided to take part in this year’s Pitch Your Startup event. Launched by Docler Holding and Luxinnovation in 2014, this event allows start-ups to present their plans to experts and investors, and – more importantly – to win a prize. With the BIL Innovation Award worth EUR 20,000, the total to be won has now reached EUR 100,000. Enough to breathe life into more than one innovative project!</p>
<p>According to Pierre-Olivier Rotheval, Head of Marketing and Innovation at BIL, "<i>the start-up scene is booming in Luxembourg. There are a growing number of promising start-up projects and we at BIL are glad to be able to support them, in particular through InnovFin loans adapted to their needs. Alongside ICT Spring, Pitch Your Startup is a great way of giving our start-up ecosystem some fresh exposure. We are looking forward to discovering this year’s candidates!</i>"</p>
<p>The pitches will be given on 15 May at ICT Spring Europe 2018. As in previous years, each start-up will have 3 minutes and 33 seconds to present its project, followed by 2 minutes of Q&A before a panel of experts from Luxembourg start-ups and the entrepreneurial sphere.</p>
<p>Start-ups can still apply online: <a href="http://www.pitchyourstartup.eu" target="_blank">www.pitchyourstartup.eu</a></p>
| 3/12/2018 11:00:00 AM | EN | As the bank of choice for start-ups, BIL is happy to announce its involvement in the fourth edition of Pitch Your Startup. The start-up that wins the BIL Innovation Award will receive EUR 20,000. | | |
| BIL EXHIBITION Zones de//of Turbulences by Frank Jons | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-exhibition-zones-de-of-turbulences-de-frank-jons.aspx | BIL EXHIBITION Zones de//of Turbulences by Frank Jons | | <p>The title <em>Zones de//of Turbulences</em>sets the tone for Frank Jons’ exhibition. The artist describes his work as “<em>a physical engagement with painting. A constant struggle where anger coexists and clashes with tenderness, sadness, love and happiness. I’m looking down on the canvas, I’m walking around it, I become one with it.</em>”</p>
<p>Frank Jons has been living and working in Luxembourg since 2001. Although he studied accounting, he decided to make his childhood dream come true and devote his life to painting in 1996. He gained recognition on the Luxembourg art scene in 2008 after receiving the Pierre Werner prize. Contrasting hues are the hallmark of Frank Jons’ visual experiments. The result is the grand orchestrations of colour that have characterised his art for the last decade. Displayed at BIL’s Galerie Indépendance, his latest paintings impress with their structure and captivating, transformative power. The eye is immediately drawn to the dynamic lines and colourful explosions.</p>
<p>Frank Jons’ <em>Zones de//of turbulences</em> exhibition is yet another example of BIL’s dedication to promoting art and culture. For more than 20 years, the Galerie Indépendance has hosted Luxembourg’s most celebrated artists. This commitment, alongside innovation, education and health, is at the heart of its corporate social responsibility policy.</p>
<p><em>Zones de Turbulences</em> is open to the public on business days from 23 February until 1 June 2018 (8am to 6pm) at Galerie Indépendance, route d'Esch 69, Luxembourg.</p>
| 2/22/2018 11:00:00 PM | EN | From 23 February to 1 June 2018, the Galerie Indépendance at Banque Internationale à Luxembourg (BIL) will be displaying recent paintings by Frank Jons. | | |
| Nico Picard and Stéphane Albert appointed to BIL Management Board | https://www.bil.com/en/bil-group/pressroom/news/Pages/nico-picard-and-stephane-albert-appointed-to-bil-management-board.aspx | Nico Picard and Stéphane Albert appointed to BIL Management Board | | <p>Banque Internationale à Luxembourg SA (BIL) is pleased to welcome Nico Picard, Chief Financial Officer, and Stéphane Albert, Chief Risk Officer, to the Management Board. These nominations have been approved by the regulatory authorities and are effective immediately.
This change is accompanied by the departure of Vice Chairman Pierre Malevez, 64, who will soon be retiring. He joined the Management Board in 2009, and was Head of Finance and Risk Management.</p>
<p>Nico Picard (53, Luxembourgish) joined BIL in 1989. Holding a PhD in mathematics, he became Head of Asset and Liability Management in 1993 and Head of Controlling and Financial Planning in 1995. He was Deputy Chief Financial Officer since 2012.</p>
<p>Stéphane Albert (47, French) joined BIL in July 2017. He has a PhD in finance and 20 years’ experience with international banking groups, primarily in risk and asset management. Prior to joining BIL, he held the position of Chief Risk Officer of BNP Paribas Fortis’ international network, and was a professor of finance and a research associate at Université Paris-Dauphine and the Sorbonne Business School. He is the author of several international academic publications in his field.</p>
<p>“<i>We are delighted to welcome two highly experienced professionals, Nico Picard and Stéphane Albert, to BIL’s Management Board. Following the departure of Pierre Malevez, whom I would like to thank for his hard work in raising BIL’s profile, we felt it was important to strengthen our management team. I look forward to their respective contributions to the development and strengthening of our market position,</i>” said Hugues Delcourt, Chief Executive Officer at BIL.</p> | 1/9/2018 2:00:00 PM | EN | Chief Financial Officer Nico Picard and Chief Risk Officer Stéphane Albert have been appointed to BIL’s Management Board. | | |
| BIL named Bank of the Year 2017 | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-named-bank-of-the-year-2017.aspx | BIL named Bank of the Year 2017 | | <p><i>“The Bank of the Year 2016 award recognised the initial success of our BIL2020 strategy. The fact that we have received this accolade from renowned magazine <i>The Banker</i> for the second year running once again demonstrates our ability to innovate and offer products and services tailored to our clients.”</i> commented Hugues Delcourt, CEO of Banque Internationale à Luxembourg.</p>
<p>By treating innovation as a strategic priority, BIL upgrades and simplifies its service offering on an ongoing basis. For example, the bank was the first in Luxembourg to integrate the Touch ID feature into its mobile application and to offer 100% mobile and yet secure services thanks to app-to-app technology. The real estate website <a href="https://www.bil.com/myhome/index-en.html" target="_blank">my|HOME</a> is another example of the bank’s focus on improving the client experience. The user-friendly simulation tools offered on the website by BIL help private investors to manage their investment project and to make property decisions best suited to their personal needs.</p>
<p>Brian Caplen, editor-in-chief of <i>The Banker</i> said: “This year, the panel of judges highlighted the excellent progress made by Banque Internationale à Luxembourg with regard to its innovative client offerings and digital solutions, as well as the bank’s impressive results.”</p>
<p>Each year, <i>The Banker</i>, leading magazine for the world of finance published by the Financial Times, honours the best financial institutions at its Bank of the Year Awards ceremony. Composed of 120 financial sector professionals, the jury bases its decision on the institutions’ performance and primary achievements over the past 12 months.</p> | 11/30/2017 4:00:00 PM | EN | BIL was presented with the Bank of the Year 2017 – Luxembourg award at a ceremony held on Wednesday, 29 November by financial magazine The Banker. | | |
| BIL IMMOindex: real-estate market still buoyant | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-immoindex-real-estate-market-still-buoyant.aspx | BIL IMMOindex: real-estate market still buoyant | | <p>In the second quarter of 2017, the BIL IMMO<i>index</i> stood at +1.82, up from +1.80 in the fourth quarter of 2016 and from +1.58 year-on-year. Despite a slight decline in the first quarter of 2017, the index returned to the high levels of late 2016. </p>
<p>The movements on the BIL IMMO<i>index</i> show that the domestic residential property market remains particularly dynamic. The factors behind this strong performance are essentially the same as those identified at the end of 2016: a sharp increase in the number of mortgages (+13.8%) and construction activity (+11.3%), as well as a more pronounced discrepancy between the price increases of old (+7.5%) and new real estate (+3.8%).</p>
<p>"The BIL IMMO<i>index</i> remains at the high level observed in late 2016, making it necessary to remain vigilant of a slight overheating of the market. Luxembourg's robust economic health is a reassuring factor, with a GDP growth forecast of 3% for 2017. The ECB is cautious about a possible rate hike, so a rebalancing of the market could come from an increase to the housing supply rather than a drop in demand," explains BIL Chief of Corporate and Institutional Banking, Marcel Leyers.</p>
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<p>Launched in October 2015 and developed by BIL in partnership with PwC Luxembourg, the BIL IMMO<i>index</i> keeps professional, institutional and private investors abreast of residential property market trends in Luxembourg.</p>
<p>Updated regularly and published every six months, the index is based on property price trends on the sales market and the rental market, as well as on the underlying factors of supply and demand, like shifting demographics or construction activity in the economy of the country. In total, seven ratios are summarised to produce the BIL IMMO<i>index</i>, an easily readable indicator giving a concise overview of Luxembourg's residential property market over the last 35 years.</p>
<p>The complete analysis, region by region, is available on <a href="{%BIL_Internet_Root_URL_Luxembourg%}/immoindex/index-en.html">www.bil.com/immoindex</a>.</p>
<p><small><sup>1</sup> The index runs on a scale of -3 to +3 and reads the temperature of the market. At +3, the maximum level, the market is thought to be “overheating”. At the other end of the scale, a negative index means that the market is lacklustre, and a level of -3 indicates a stagnant, “frozen” market.</small></p> | 11/20/2017 7:00:00 AM | EN | Still driven by increased lending and construction, the BIL IMMOindex remained persistently high during the second quarter of 2017. | | |
| BIL EXHIBITION: Laura Mannelli: The Promises of Monsters | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-EXHIBITION-Laura-Mannelli-The-Promises-of-Monsters.aspx | BIL EXHIBITION: Laura Mannelli: The Promises of Monsters | | <p>Laura Mannelli, who graduated from the École nationale supérieure d’architecture Paris-Malaquais, has been developing a concept based on virtual realities and their new paradigms for several years now, using digital art as a field of research. Based on an immersive world inspired by Dante’s Divine Comedy, <em>The Promises of Monsters</em> blends elements of plastic arts, video games, new forms of narrative and architecture. Although the digital arts is still a largely unknown art form for most, this exhibition will give visitors a glimpse of the infinite creative possibilities it provides.</p>
<p>For BIL, this exhibition is a perfect example of its commitment to promoting the national art and culture scene as well as innovation. The bank hosts regular exhibitions to display the works of local artists and collectors, but doesn’t intend to stop there: in February 2017 it launched the Indépendance grant together with its partners, the Fonds culturel national and the Fondation Indépendance. The aim of this grant is to support the creative process behind innovative works in the area of digital arts and new technologies. And with Laura Mannelli’s <em>The Promises of Monsters</em>, it’s mission accomplished!</p>
<p>Art enthusiasts and players in the world of digital innovation will have the chance to immerse themselves in this virtual universe from 20 October 2017 to 2 February 2018 at BIL’s Galerie Indépendance.</p>
| 10/19/2017 2:00:00 PM | EN | Laura Mannelli’s project, The Promises of Monsters, will be displayed at BIL’s Galerie Indépendance from 20 October. | | |
| Legend Holdings to acquire Precision Capital's stake in Banque Internationale à Luxembourg | https://www.bil.com/en/bil-group/pressroom/news/Pages/legend-holdings-to-acquire-precision-capital-stake-in-bil.aspx | Legend Holdings to acquire Precision Capital's stake in Banque Internationale à Luxembourg | |
<p>Legend Holdings Corp., a Hong Kong-listed diversified investment group, announced today the signing of an agreement with Precision Capital, a Luxembourg-based financial holding company, for the acquisition of Precision Capital’s 89.936% stake in Banque Internationale à Luxembourg (BIL), a leading universal banking group headquartered in Luxembourg.</p>
<p>The proposed transaction remains subject to ECB/CSSF approval and that of other regulatory authorities. It also remains subject to Legend Holdings shareholder approval. The Grand Duchy of Luxembourg will retain its 9.993% ownership of BIL. </p>
<p>Legend Holdings, founded in 1984, is a leading diversified investment group. Its strategic investments focus on several major sectors including financial services, innovative consumer services, agriculture and food, and IT. As at 31 December 2016, the company had assets of €43.92 billion, annual revenues in excess of €40 billion and close to 70,000 employees worldwide. Lenovo Group, one of its portfolio companies, was founded by Legend Holdings in 1984 and is now one of the world’s leading vendors of personal computers. Lenovo successfully acquired IBM’s global PC business in 2004, subsequently investing and growing the brand into a global leader. </p>
<p>The acquisition of 89.936% of BIL represents a long-term strategic investment for Legend Holdings. The company is committed to providing the financial and operational support to maintain and grow the BIL brand domestically and internationally, further enhance its customer offering and support existing management in the delivery of its strategy to achieve sustainable growth. </p>
<p>As part of the proposed transaction, Legend Holdings will: </p>
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<li>Maintain and invest further in the development of the BIL brand, in Luxembourg, Europe and internationally </li>
<li>Invest in BIL’s people, support employment and provide international career opportunities</li>
<li>Retain the current governance and management of the bank: Luc Frieden will remain BIL Chairman, while Hugues Delcourt will remain CEO </li>
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<p>Precision Capital, along with the Grand Duchy of Luxembourg, acquired BIL in 2012 at a time when the previous shareholder faced significant financial stress. Precision Capital and BIL have since overseen a turnaround of the bank following an in-depth strategic review, having made significant investments in the bank and its brand. </p>
<p>Since 2012, the management team has grown operating revenue by 20% to €505 million in 2016, while operating profit has risen 57% to €124 million. Over the same period, total assets have increased to €23 billion, total loans to customers are up by 27% to €12.2 billion and assets under management have grown by 30% to €37.7 billion. The bank’s capital strength has been bolstered over this time, reaching a Common Equity Tier-1 ratio of 13.4% at end 2016 – up from 10% in 2012. </p>
<p><b>Commenting on the announcement, Liu Chuanzhi, Founder and Chairman of Legend Holdings, said: </b> <em>“This is an important and exciting strategic investment for Legend. Financial services is one of Legend Holdings’ key target industries. BIL’s asset scale, revenue and profit growth potential, and its business stability meet Legend’s pillar assets criteria. It affirms Legend’s target of investing in pillar assets. </em> </p>
<p> <em> “Legend Holdings has accumulated extensive experience in the financial services industry, and has achieved a solid performance in the sector over the past years. BIL is a well-run and respected universal banking group with strong roots in Luxembourg’s history. We aim to preserve and enhance this status, supporting the bank and its existing management team in growing BIL from a national champion to a Luxembourg-based, international banking brand. We believe that as a long-term strategic shareholder, Legend can add value to the international business development opportunities and application of financial technology of the bank, and realize our mission of building great companies. </em> </p>
<p> <em> “We would like to thank Precision Capital, the Luxembourg State and the BIL management team for their support. We look forward to working closely with Luxembourg State and the bank in the years ahead.” </em> </p>
<p><b>Luc Frieden, Chairman of BIL, said: </b><em>"Thanks to strategic measures taken since 2012 – with the support of Precision Capital, the Luxembourg State, our employees and our clients – BIL has successfully regained its status as a leading Luxembourg financial institution. </em></p>
<p><em>“We welcome our new shareholder, who has a proven track record of successful investment in a range of companies and have demonstrated great sensitivity to what makes BIL unique. We look forward to working with the Legend Holdings team to build on BIL’s tradition of excellence that dates back to 1856 as a strong, stable and innovative Luxembourg universal bank. While clients and staff will experience full continuity, we will also have an opportunity to further strengthen BIL's exceptional place in the Luxembourg economy, while enhancing its European and international ambitions. </em></p>
<p><em> I am proud to chair this great Luxembourg bank as we prepare to write the next chapter in BIL’s success story,” </em> Frieden added. </p>
<p><b>George Nasra, CEO of Precision Capital, said: </b><em>“BIL has made tremendous progress in the past five years. The business is in great shape and boasts an exceptionally strong brand, supported by an experienced management team and over 2,000 committed employees in Luxembourg and abroad. Legend Holdings is the right partner for BIL as it moves into its next phase of its sustained growth and expansion.” </em> </p>
<p>Nasra noted that Precision Capital’s only other investment – its 99.9% ownership of KBL European Private Bankers (KBL epb), a pan-European private banking group headquartered in Luxembourg – will not be impacted by the agreement with Legend Holdings. <em> “We remain committed to supporting the long-term stability and growth of KBL epb,” </em> Nasra concluded. </p>
<p>The proposed transaction is expected to close in the first quarter of 2018, subject to approval from the European Central Bank, the Commission de Surveillance du Secteur Financier and other relevant regulatory authorities. The acquisition entity is Beyond Leap Limited, a wholly owned subsidiary of Legend Holdings incorporated in Hong Kong. </p>
| 9/1/2017 1:00:00 PM | EN | Legend Holdings Corp., a Hong Kong-listed diversified investment group, announced today the signing of an agreement with Precision Capital, a Luxembourg-based financial holding company, for the acquisition of Precision Capital’s 89.936% stake in BIL. | | |
| BIL supports The Office, a co-working space in Luxembourg | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-supports-the-office-a-co-working-space-in-luxembourg.aspx | BIL supports The Office, a co-working space in Luxembourg | | <p>A keen actor in the development of the Luxembourg start-up ecosystem, BIL has decided to support The Office, a new start-up office space in the heart of Luxembourg City. Opened in November 2016, The Office offers co-working places in several different spaces within a rejuvenated industrial building. Entrepreneurs can also make use of meeting rooms, break areas and a café. The layout of the premises, added to regular events encourage interaction between entrepreneurs and help create a true The Office spirit!</p>
<p>‘’<i>We have founded The Office to create a true co-working space in the city center, supporting start-ups and newly founded innovators with a creative and unconventional office infrastructure. The Office is a start-up itself, thus BIL's support came in the perfect moment to complete pending works and to further get our offering to the market. We appreciate BIL as a true partner inspiring to further develop our path of bringing a new wave of entrepreneurship to the Grand-Duchy</i>”, said Gosia Kramer, Managing partner of The Office. </p>
<p>Pierre-Olivier Rotheval, Head of Innovation and Marketing at BIL added: “<i>We keep an eye on all the initiatives likely to contribute to the development of the start-up ecosystem in Luxembourg, in order to build a Start-up Nation. We were impressed by The Office, which provides entrepreneurs with flexible workspace solutions</i>”.</p>
<p>Through this partnership, the bank will be able to help the start-ups it works with to find a workspace. This partnership with The Office is part of a concerted effort to promote innovation and entrepreneurship in Luxembourg. BIL is already a partner of the country’s main incubators and supports many start-ups. Its BIL Start support service gives start-up entrepreneurs access to the various financing programmes in which the bank participates. BIL is a stakeholder in the Digital Tech Fund, launched by the Ministry of the Economy in 2016. In July 2015, BIL became the first Luxembourg bank to sign the InnovFin guarantee agreement for innovative SMEs as part of the European Fund for Strategic Investments (EFSI). Besides these financing solutions, the bank will be able to enhance its range of services by providing workspaces at The Office.</p>
| 8/8/2017 9:00:00 AM | EN | Collaboration announced between BIL, a company committed to developing the start-up ecosystem in Luxembourg, and The Office, a true co-working space in the heart of capital. | | |
| BIL IMMOindex: the housing market is more buoyant than ever | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-immoindex-the-housing-market-is-more-buoyant-than-ever.aspx | BIL IMMOindex: the housing market is more buoyant than ever | | <div class="grid-adaptive small clear-div">
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<p>The BIL IMMO<i>index</i> increased from +1.58 in the second quarter of 2016 to +1.80<sup>1</sup> in Q4. At +0.87 in Q4 2015, it more than doubled in a year. This rise reflects a nationwide housing market rally begun at the start of 2016 and continued throughout the year, slightly gaining momentum in the process.
<br>The reasons for the renewed rise in the index include a sustained climb in housing prices (+7.7% between Q4 2015 and Q4 2016), the credit boom (+25.4% increase in the volume of mortgage loans compared to end-2015) and, to a lesser extent, a robust construction sector (+5.7% year-on-year growth in Q4 2016).</p>
<p>“<i>The index more than doubled between end-2015 and end-2016, powered by rising housing prices and the credit boom. Although it is on the verge of overheating, the market’s ascent is underpinned by solid fundamentals: a growing population and a robust national economy. An increase on the supply side, rather than a decrease in demand, would serve to slow the rise and help move the IMMO<i>index</i> closer to an equilibrium,</i>” explains Marcel Leyers, Chief of Corporate and Institutional Banking at BIL.</p>
<p>Launched in October 2015 and developed by BIL in partnership with PwC Luxembourg, the BIL IMMO<i>index</i> is an indicator of housing market trends in Luxembourg for professional, institutional and retail investors.</p>
<p>Updated regularly and published every six months, the index is based on price changes on the selling and rental markets, as well as factors underlying supply and demand such as the national economy, construction activity and demographic change. A total of seven ratios are integrated to produce the BIL IMMO<i>index</i>, a clear indicator that gives an overview of Luxembourg housing market in the last 35 years.</p>
<p>The complete analysis for each region of Luxembourg is available at <a href="{%BIL_Internet_Root_URL_Luxembourg%}/immoindex/index-en.html">www.bil.com/immoindex</a>.</p>
<p><small><sup>1</sup>The index runs on a scale of -3 to +3 and reads the temperature of the market. At +3, the maximum level, the market is thought to be “overheating”. At the other end of the scale, a negative index means that the market is lacklustre, and a level of -3 indicates a stagnant, “frozen” market.</small></p> | 7/18/2017 11:00:00 AM | EN | The index, a true market barometer, reached +1.80 in Q4 2016, up from +1.58 in June 2016. | | |
| BIL donates EUR 10,000 to the Fondation Lëtzebuerger Kannerduerf | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-donates-eur-10000-to-the-fondation-letzebuerger-kannerduerf.aspx | BIL donates EUR 10,000 to the Fondation Lëtzebuerger Kannerduerf | | <p>The employees of BIL’s Mersch branch all turned out to support the Fondation Lëtzebuerger Kannerduerf at its traditional annual party on 2 July. The programme featured numerous games with prizes to be won by the children of the Kannerduerf as well as visiting children and parents. In addition to these festivities, the event was a chance for the charity to present its projects, plans and facilities to the public. The Mersch branch employees, who have been supporting the Fondation for over fifteen years, were there to welcome the children and to help run the stalls throughout the day.</p>
<p>"Once again, SOS Kannerduerf's annual party was an extremely rewarding experience. My colleagues and I are proud to have been able to help the charity on this occasion. It was with immense pleasure that I was able to present the Fondation Lëtzebuerger Kannerduerf with a cheque for EUR 10,000 as a token of our commitment to this charity, which we have been supporting for many years," commented Nico Muller, manager of BIL's Mersch branch.</p>
<p>Marianne Brosius, Director of SOS Kannerduerf, thanked the Mersch branch staff and the bank as a whole: "We are particularly pleased that BIL continues to express its support for our organisation at our annual party. Once again, I cannot thank this organisation enough. On behalf of all "our" children, a very big thank you."</p>
<p>The Fondation Lëtzebuerger Kannerduerf targets children whose parents are unable or no longer able to look after them, as well as children and parents who are experiencing family problems. SOS Kannerduerf Lëtzebuerg supports children who are separated from their parents, to ensure that they are able to grow up and develop under the best conditions possible.</p>
<p>The Village SOS Enfants, located in Mersch, was founded in 1968 on the initiative of Luxembourger Marcel Nilles. "SOS" or host families were housed there. Over the years, the Fondation Lëtzebuerger Kannerduerf diversified its activities and extended its geographical reach to cover all of Luxembourg. The name “SOS Kannerduerf Lëtzebuerg" now covers all the care services offered by the Fondation Lëtzebuerger Kannerduerf.</p>
<p>Educational programmes play a predominant role in its activities, which is one of the reasons why BIL supports the Fondation. BIL's commitment to education is one of the key components of its Corporate Social Responsibility (CSR) policy, alongside culture and innovation.</p> | 7/3/2017 10:00:00 PM | EN | Through this donation, Banque Internationale à Luxembourg is reaffirming its support for the charity SOS Kannerduerf Lëtzebuerg | | |
| Laura Mannelli awarded Indépendance Grant | https://www.bil.com/en/bil-group/pressroom/news/Pages/laura-mannelli-awarded-independance-grant.aspx | Laura Mannelli awarded Indépendance Grant | | <p>The judging panel, composed of representatives from the world of art (FOCUNA, Casino Luxembourg - Forum d'art contemporain, Rotondes) and innovation (Digital Lëtzebuerg), as well as the Fondation Indépendance and BIL, was unanimously won over by The Promises of Monsters. Based on an immersive world inspired by Dante’s Divine Comedy, Laura Mannelli’s project blends elements of plastic arts, video games, new forms of narrative and architecture.</p>
<p>The Luxembourg architect and artist, who graduated from the Ecole nationale supérieure d’architecture Paris-Malaquais, has been developing a concept based on virtual realities and their new paradigms for several years now, using digital art as an area of research. Cofounder of the Human Atopic Space (HAS), the group behind the Atopic Festival, which was one of the first in Europe dedicated to virtual realities and machinima, Laura Mannelli also unveiled her Ech Sinn Melusine project at the Palais de Tokyo in Paris. She has taken part in a number of digital arts festivals, and also participated in the 2014 Nuit Blanche in Paris, where she exhibited her Beyond Bitmaps project, an interactive architectural work. More recently in 2017, she led and participated in several bold art projects. These include the Near Dante Experience, where she collaborated with Gérard Hourbette, one of the members of legendary band Art Zoyd and a big name in electro-acoustic music, as well as the City Film Fest’s Pavillon Réalité Virtuelle at Casino Luxembourg - Forum d’art contemporain. </p>
<p>“<i>Digital artists working with virtual realities – a very specific field – rarely have the opportunity to exclusively occupy an exhibition space. I am especially honoured to have been selected for this grant as my Luxembourgish identity is what inspired my thinking and led me to focus on virtual realities,</i>” explained Laura Mannelli.</p>
<p>She added that “<i>From being the home of the creator of a new genre of literature, Hugo Gernsback, said to have been born in Bonnevoie, who was the first to use the term ‘science fiction’ to describe fictitious worlds or societies that have been enhanced with science and new technologies, to the country’s current ventures into asteroid mining, to me, Luxembourg has always been a natural breeding ground for new ideas and pioneering spirit. ‘The Promises of Monsters’, a title inspired by Donna Haraway’s ‘A Cyborg Manifesto’, could be seen as a work of ‘design fiction’. The exhibition will display an array of staged artefacts which the public will be able to interact with in order to explore the possible reality of a whole new world. What could these new technological paradigms have in store for us? To echo Hugo Gernsback, ‘Extravagant Fiction Today – Cold Fact Tomorrow’.</i>”</p>
<p>The Promises of Monsters, a bold project in terms of both form and substance, will be exhibited in two parts. The first will be displayed from 30 June to 28 August at Rotondes. The Indépendance Grant will allow the artist to develop and display the second part of this protean creation in the spaces of the Galerie Indépendance.</p>
<p>Launched in February 2017 by the National Cultural Fund, the Fondation Indépendance and BIL, the aim of the Indépendance Grant is to support the creative process behind innovative works in the area of digital arts and new technologies. It is the only initiative of its kind in Luxembourg, and represents yet another example of BIL’s drive for promoting the arts and innovation, which is at the heart of its corporate social responsibility (CSR) policy. </p>
<p><i>The Promises of Monsters, Laura Mannelli</i>, from 19 October at the Galerie Indépendance, 69, route d'Esch, Luxembourg.</p> | 6/19/2017 9:00:00 AM | EN | The judging panel unanimously chose Laura Mannelli as the winner of the Indépendance Grant. Her project, The Promises of Monsters, will be displayed at BIL’s Galerie Indépendance from 19 October. | | |
| BIL and Paul Wurth InCub join forces to support InduTech entrepreneurs | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-and-paul-wurth-incub-join-forces-to-support-indutech-entrepreneurs.aspx | BIL and Paul Wurth InCub join forces to support InduTech entrepreneurs | | <p>True to its commitment to assist innovative companies in Luxembourg, BIL is lending its support to the Paul Wurth incubator: Paul Wurth InCub. Launched at the end of 2015, Paul Wurth InCub specialises in supporting industrial technology, or InduTech, projects. This sector consists of companies whose business is focused on developing innovative solutions applied to industry. This ranges from industry 4.0 (Internet of things, Big Data, Cloud, etc.) to clean tech (water treatment, recovery of industrial and chemical by-products, etc.), robotics and natural resource management.</p>
<p>“<i>Supporting the development and diversification of the domestic economy by providing funds for business creators lies at the heart of our work. This is a key component of the innovation ecosystem being developed in Luxembourg,</i>” says Jeffrey Dentzer, Head of Large Corporate and Structured Finance at BIL. Pierre-Olivier Rotheval, Head of Innovation at BIL, adds: “<i>Joining forces with Paul Wurth InCub to help the InduTech gems of the future emerge is a win/win situation. It’s the national economy as a whole that will benefit.</i>”</p>
<p>is the first bank to support Paul Wurth InCub. This partnership is the logical result of a common desire to create an ecosystem conducive to the emergence of innovative companies in Luxembourg. Under the agreement, we will supply financing tools (including loans eligible for the InnovFin guarantee) and share expertise to evaluate projects.</p>
<p>“<i>A partnership with BIL will allow Paul Wurth InCub to have a local financial player alongside it to help develop our ecosystem. It strengthens our current collaboration and, together, I am sure that we will do our best to promote the development of entrepreneurs in Luxembourg’s industrial sector,</i>” stated Sébastien Wiertz, General Manager at Paul Wurth InCub.</p>
<p>This partnership represents a further development in the bank’s efforts to foster innovation and entrepreneurship. Its BIL Start support service gives start-up entrepreneurs access to the various financing programmes in which the bank participates. BIL is a stakeholder in the Digital Tech Fund, launched by the Ministry of the Economy in 2016. In July 2015, BIL became the first Luxembourg bank to sign the InnovFin guarantee agreement for innovative SMEs as part of the European Fund for Strategic Investments (EFSI).</p> | 5/30/2017 10:00:00 AM | EN | BIL and Paul Wurth InCub are delighted to announce the signing of a partnership agreement aimed at supporting the development of industrial technologies, or InduTech, in Luxembourg. | | |
| #WBMY17: two winners share the innovation award! | https://www.bil.com/en/bil-group/pressroom/news/Pages/wbmy17-two-winners-share-the-innovation-award.aspx | #WBMY17: two winners share the innovation award! | | <p>As the highlight of the Woman Business Manager of the Year competition, the Innovation Award ceremony brought together nearly 200 people at Banque Internationale à Luxembourg's Route d'Esch headquarters on Thursday, 27 April. Five projects, and five exceptional women, were honoured: Travelsify (Alexandra Fernandez-Ramos), Kliber (Nathalie Dondelinger), Supermiro (eLfy Pins), Largowind (Mathilde Argaud) and MyScienceWork (Virginie Simon).</p>
<p>The mixed-gender panel of judges, composed of representatives from BIL, the Luxembourg Business Association (UEL), the National Institute for Sustainable Development and Corporate Social Responsibility (INDR), nyuko and Technoport, selected the winners from among 25 applicants, and invited them to present their projects. Owing to the quality of the short-listed projects, the panel reached the extraordinary decision to award two businesswomen: Alexandra Fernandez-Ramos (Travelsify) and Nathalie Dondelinger (Kliber).</p>
<p><a href="https://www.travelsify.com/" target="_blank">Travelsify</a>, a start-up launched in 2016, serves the tourism industry. Its algorithm ranks hotels around the world based on client comments instead of on ratings. <a href="https://kliberapp.com/fr/" target="_blank">Kliber</a>, launched in 2015, is a recruitment application that puts employers in contact with applicants through videos.</p>
<p>“<i>Competition was fierce in 2017. It was not easy to choose the five winning projects, because they are all based on excellent initiatives and the women behind them are all so talented. This competition shows the vibrancy of female entrepreneurship in Luxembourg and goes against the popular misconception that innovative companies are a man's world</i>", said Marcel Leyers, Chief of Corporate and Institutional Banking at BIL.</p>
<p>Nicolas Henckes concluded the ceremony by congratulating all those who entered the competition, and calling for more women to start their own businesses in Luxembourg. UEL's Secretary General emphasised the role of parents in encouraging their children, especially girls, to develop their entrepreneurial spirit.</p>
<p>Since 2006, the Woman Business Manager of the Year competition showcases exceptional women whose talent and energy are helping to drive Luxembourg's economy. To be eligible for the contest, projects must use an innovative approach or technology and have a positive impact on the Luxembourgish economy. The latter has been a guiding principle of the competition since its inception.</p> | 4/28/2017 10:00:00 AM | EN | For the first time in the history of the Woman Business Manager of the Year competition, two contestants shared the Innovation Award. | | |
| Banque Internationale à Luxembourg is deploying Fujitsu’s Sign’IT technology | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-is-deploying-fujitsu-s-sign-it-technology.aspx | Banque Internationale à Luxembourg is deploying Fujitsu’s Sign’IT technology | | <p>No more “paper” receipts for cash deposits and withdrawals. BIL’s clients will now sign an electronic document on a tablet. It is straightforward for clients, as the procedure is similar to that used for handwritten signatures: after the transaction has been completed, whether at the counter or in a private room in the branch, clients simply sign their name on the screen of an electronic tablet. The receipt (now electronic) is immediately transmitted to the client’s BILnet personal area and stored on the bank’s secure server. Clients can therefore view this document whenever they want, save it and, if necessary, print it.</p>
<p>“<i>The system is very user-friendly. Our Sign’IT electronic signature solution is a manual signature with a stylus pen on an electronic device. It is also very secure. This solution meets the five criteria that financial institutions must fulfil when creating and managing documents: the signature is authentic, forgery-proof, non-reusable, tamper-proof and irrevocable</i>”, explains Cédric Jadoul, Head of Digital Strategy, Fujitsu Luxembourg. “<i>Sign’IT captures the image of the signature to integrate it in a PDF and can accurately authenticate the signatory and prevent any attempted fraud.</i>”</p>
<p>The introduction of electronic signatures in the bank’s branch network is a further step towards simplified and innovative services that BIL aims to offer its clients. It is also an example of other innovative digital services that are being developed behind the scenes.</p>
<p>“<i>The digital transformation on which we have embarked is a far-reaching process. It involves new infrastructure and rethinking our approach to business. The use of Fujitsu’s solution for electronic signatures is a perfect example of this transformation. We gain efficiency, while improving the quality of the service we offer our clients. It is a further step towards the BIL of tomorrow, and others will follow!</i>” says Olivier Debehogne, Head of Retail and Digital Banking at Banque Internationale à Luxembourg.</p>
<p>In addition to making the client relationship more efficient and user-friendly, the use of tablets is better for the environment. This project aims at the secure digitisation of cash documents. Digitalisation results in a drastic reduction in paper consumption with annual savings of around half a million paper documents.</p>
<p>Drawing on its experience in the banking sector, Fujitsu provided BIL with the necessary hardware, software, advice and support for the implementation of the system. Fujitsu also advised BIL on the legal aspects of electronic signatures in a banking environment.</p> | 4/20/2017 11:00:00 AM | EN | Since February 2017, BIL has been gradually deploying a brand new electronic signature system across its branch network. | | |
| BIL supports SOS Villages d’Enfants Monde | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-supports-sos-villages-d-enfants-monde.aspx | BIL supports SOS Villages d’Enfants Monde | | <p>Lifelong learning and universal access to quality education are part of the United Nations Sustainable Development Goals, and this education must begin as early as possible. The aim is to provide all boys and girls with access to pre-school learning by 2030. Sadly, this pre-school education is still a privilege in many extremely poor countries.</p>
<p>SOS promotes the equal right to quality education from a pre-school age through early childhood programmes that meet children’s basic needs for nutrition, health and protection. In the Nigerien Dosso region, where half the population is under 15, the adult literacy rate is less than 20%! BIL’s donation will help fund the SOS Children’s Village in Dosso. The Kindergarten hosts 55 children, including 30 girls. They receive healthy meals and medical treatment, and take part in numerous early learning and personal development activities.</p>
<p>Sophie Glesener, Managing Director of SOS Villages d’Enfants Monde, thanked BIL warmly for this new vote of confidence and generous support: "<i>I am delighted to see this partnership between BIL and our charity continue. It serves as a reminder that, in pursuit of sustainable development, early education is a key factor in ensuring that the most vulnerable children of the Dosso community – both girls and boys – get a good start in life. Last year our support meant that the kindergarten could afford new outdoor and indoor games, which the children loved<i>."</p>
<p>Hugues Delcourt, BIL’s Chief Executive Officer, added, "<i>Education is one of the major themes that BIL intends to promote as part of its corporate social responsibility (CSR) policy. We are proud to continue to be of service to SOS Villages d’Enfants Monde. With this donation, and thanks to the great work of the teams on site, we are seeing concrete results.</i>"</p>
<p>This partnership complements BIL’s support for local education in Luxembourg with Jonk Entrepreneuren and Lëtzebuerger Guiden a Scouten. Every year, the bank also actively supports the project Woch vun de Suen, which is organised by ABBL and aims at introducing school children in Luxembourg to the world of finance.</p> | 4/6/2017 12:00:00 PM | EN | The bank will donate 30,000 euros to the SOS Kindergarten in Dosso, Niger. | | |
| BIL reports good performance despite challenging environment | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-reports-good-performance-despite-challenging-environment.aspx | BIL reports good performance despite challenging environment | | <ul>
<li>Core operating net income before tax: EUR 124 million, +3% (EUR 120 million in 2015)</li>
<li>Assets under management: EUR 37.7 billion, +6.3% (EUR 35.5 billion in 2015)</li>
<li>Customer deposits: EUR 16.1 billion, +7.4% (EUR 15 billion in 2015)</li>
<li>Customer loans: EUR 12 billion, +5.9% (EUR 11.4 billion in 2015)</li>
</ul>
<p>BIL group reports a robust performance in 2016, with a core operating net income before tax of EUR 124 million, a 3% increase compared to the previous year. Net income after tax reached EUR 110 million. The bank continued to attract new clients and increase its market share, both in Luxembourg and internationally. Despite the ongoing low-interest rate environment, customer deposits grew by 7.4% to EUR 16.1 billion. Assets under management increased significantly from EUR 35.5 billion in 2015 to EUR 37.7 billion in 2016. This excellent result can mainly be attributed to inflows of EUR 1.9 billion in the wealth management segment. Customer loans increased to EUR 12 billion, proof of BIL’s ongoing support of the national economy. These figures will be submitted to BIL’s annual general meeting of shareholders on 28 April 2017.</p>
<p>Luc Frieden, Chairman of the Board of Directors of BIL Group, commented: “<i>Thanks to our clear strategic goals, the dedication of our employees, the trust of our clients and the support of our shareholders - Precision Capital and the Grand Duchy of Luxembourg - BIL reports a steady growth and is well positioned for the years to come.</i>”</p>
<p>The bank's solid financial position was acknowledged by rating agencies: In October 2016, Moody’s Investors Service upgraded the long-term deposit, issuer and senior unsecured debt ratings from A3 to A2, with a positive outlook. The quality of the bank’s services was also recognised more generally in the financial industry: BIL was named Bank of the Year 2016 – Luxembourg by leading financial magazine The Banker, Best Bank in Luxembourg 2017 by Global Finance magazine and Best Private Bank for Super Affluent Clients in Luxembourg in Euromoney’s Private Banking Survey 2017.</p>
<p>“<i>We are pleased with our performance in 2016 - despite a challenging environment, we experienced growth across all business areas. Our BIL2020 strategy, which focuses on innovation and the constant adaptation of our value proposition to the changing needs of our clients, is bearing fruit.</i>” concluded BIL CEO Hugues Delcourt.</p> | 4/3/2017 1:00:00 PM | EN | BIL announced its financial results for the year 2016. | | |
| BIL EXHIBITION Nos meilleurs voeux, the Raymond Niesen collection | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-exhibition-nos-meilleurs-voeux-the-raymond-niesen-collection.aspx | BIL EXHIBITION Nos meilleurs voeux, the Raymond Niesen collection | | <p>Although the season for greetings cards has passed, it is about to recommence at BIL’s Galerie Indépendance. From 30 March onwards, the Nos meilleurs voeux exhibition will display works resulting from an initiative launched in 1990. Raymond Niesen, CEO of BUROtrend, began the tradition of inviting a Luxembourg-based artist each year to create greetings cards for the company’s clients and friends. Thus, for the past 26 years, based on sketches and original works of art they acquired, Raymond Niesen and BUROtrend commissioned specialist studios to produce hand-printed serigraphs. These serigraphs are then signed and numbered by the artist of that year, which elevates them from simple greetings cards to personalised works of art.</p>
<p>But sending these cards in their thousands (more than 40,000 to date!) was not enough for Raymond Niesen. He wanted to display the originals, the serigraphs and lithographs as part of a retrospective exhibition. This aim has now been accomplished. Nos meilleurs voeux presents a cross-section of Luxembourgish art over the past three decades with Rico Sequeira, Jean-Marie Biwer, Robert Brandy, François Valentiny, Frank Jons, Sumo, Anna Recker and Armand Strainchamps, to name but a few.</p>
<p>“<i>We are delighted to present Raymond Niesen’s collection to the public. We share his commitment to supporting the nation’s artists and promoting the local art scene. This exhibition offers the public access to original works by the country’s leading artists of the last decades</i>”, explained Hugues Delcourt, BIL CEO.</p>
<p>This exhibition is yet another example of BIL’s dedication to promoting art and culture, which, alongside innovation and education, are the key focus of its corporate social responsibility policy. The Galerie Indépendance has hosted Luxembourg’s most prominent artists for more than 20 years.</p>
<p>The Nos meilleurs vœux exhibition is open to the public on business days from 30 March until 9 June 2017 (8am to 6pm).</p>
| 3/30/2017 12:00:00 PM | EN | The Galerie Indépendance at BIL will be displaying works from Raymond Niesen’s collection in an exhibition with the title Nos meilleurs voeux (Our best wishes). | | |
| Banque Internationale a Luxembourg Strengthens Its Operations in Dubai | https://www.bil.com/en/bil-group/pressroom/news/Pages/banque-internationale-a-luxembourg-strengthens-its-operations-in-dubai.aspx | Banque Internationale a Luxembourg Strengthens Its Operations in Dubai | | <p>Marco Robbertsen will manage the team responsible for Western residents in Dubai. In addition, he will be in charge of European private banking services. He will report directly to Patrick Casters, CEO of BIL Dubai. Marco has 16 years of experience in private banking, both in Europe and Asia. Prior to joining BIL, he was Head of Wealth Management - South Netherlands for Deutsche Bank AG. He also worked as a senior private banker for Credit Suisse and ABN AMRO in Singapore.</p>
<p>“<i>Marco has extensive experience in servicing UHNW clients in Europe and Asia. This experience will be a valuable asset in strengthening our business in this key region for BIL group. We are proud to add new talents to our BIL Dubai team, enhancing dynamism and client focus.</i>” commented Patrick Casters, CEO of BIL Dubai.</p>
<p>In addition to Marco Robbertsen, BIL has also recruited two experienced relationship managers. Raj Sachdev, who worked previously at National Bank of Abu Dhabi and Citi International Personal Bank, will join the International team. Sunayna Sarswat, private banker at the National Bank of Abu Dhabi prior to joining BIL, will join the team in charge of non-resident Indian clients.</p>
<p>BIL inaugurated its Dubai branch in March 2015. It serves to reinforce the close economic ties between Luxembourg and the UAE, especially in view of the development of Luxembourg’s financial centre into the main hub for Islamic finance in Europe. Luxembourg is already the main domicile for Sharia-compliant funds in Europe, and the third most important worldwide.</p>
| 3/13/2017 2:00:00 PM | EN | BIL is accelerating its growth in the Middle East by recruiting a number of experienced professionals for its Dubai branch. | | |
| BIL: The Dudelange branch moves and gets a makeover | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-the-dudelange-branch-moves-and-gets-a-makeover.aspx | BIL: The Dudelange branch moves and gets a makeover | | <p>Present in Dudelange since 1921, the BIL branch had been located at its pre-move address since 1980. After successive facelifts, the time had come to move to a new location better suited to the new organisational model which has already been successfully implemented at other BIL branches across the country. In line with the needs of its increasingly digitally connected clients, the bank has modernised the way it welcomes and supports clients.</p>
<p>The Dudelange branch has a warm, modern interior with clearly defined functional areas for a more fluid client experience. A self-banking area with three of the latest ATMs is accessible 24/7 in which clients can carry out most of their cash transactions. In the <i>online</i> area, which is equipped with tablets and PCs, clients can manage their everyday banking transactions. Free, secure WiFi access is available throughout the branch. This new branch layout, which also includes private meeting rooms, has been designed to optimise comfort and confidentiality.
This will enable Marc Schoder, the branch manager, and his dedicated team of advisers to focus on providing the branch’s retail, private and corporate clients with personalised support for their life and business projects.</p>
<p>At the official opening on Thursday, 9 March, Hugues Delcourt, CEO of BIL, and Marc Schoder handed a cheque to the non-profit organisation Diddeleng Hëlleft represented by Dan Biancalana, Mayor of Dudelange. This organisation supports projects in underdeveloped regions. With this donation, BIL reaffirms its long-term commitment to Luxembourgish non-profit organisations.</p>
<p>Marc Schoder and his team are available Monday to Friday from 9am to 12am and from 1.30pm to 5pm as well as from 8am to 7pm by appointment.</p>
<p><b>Address of the new Dudelange branch:</b>
<br>62 Avenue Grande-Duchesse Charlotte
<br>L-3440 Dudelange</p> | 3/9/2017 2:00:00 PM | EN | BIL continues to invest in its branch network to offer its clients unrivalled services and support. | | |
| Fostering an entrepreneurial spirit | https://www.bil.com/en/bil-group/pressroom/news/Pages/fostering-an-entrepreneurial-spirit.aspx | Fostering an entrepreneurial spirit | | <p>BIL puts education at the heart of its corporate social responsibility (CSR) policy, alongside innovation and culture. With this in mind, BIL decided to lend its support to the non-profit organisation Jonk Entrepreneuren Luxembourg. Founded in 2005, Jonk Entrepreneuren Luxembourg aims to give young people a taste for business, innovation and creation. With the help of schools and business representatives, the association organises workshops and projects throughout the year to introduce young people to economic and business concepts. The bank will support the association to enable it to further develop its activities.</p>
<p>"<i>Each day at BIL, we help entrepreneurs to launch their project and develop their business. We are proud to support Jonk Entrepreneuren Luxembourg, which does a formidable job of giving young people – the entrepreneurs of the future – a taste for creation and innovation</i>", said Tom Lessel, Head of Corporate Banking at BIL.</p>
<p>"<i>At Jonk Entrepreneuren Luxembourg ASBL, we are delighted to welcome BIL as a new partner. This will allow us to extend our activities, thereby enabling us to prepare and inspire more young people to start their own businesses and enter the professional world. It is essential for businesses and schools to collaborate to give young people an incentive to go into business, and to prepare them for the future in the best way possible!</i>" said Stéphanie Damgé, Head of Jonk Entrepreneuren Luxembourg ASBL.</p>
<p>This partnership makes the bank a stakeholder in the association's various initiatives including its Innovation Camp and Young Enterprise Project 2017-2018. BIL will also be involved in Alumni Jonk Entrepreneuren Luxembourg, which brings together students and former students who have taken part in one of the programmes offered by Jonk Entrepreneuren Luxembourg. This new partnership follows similar BIL initiatives in support of SOS Villages d’enfants Monde, SOS Kannerduerf Lëtzebuerg and Lëtzebuerger Guiden a Scouten. The bank also plays an active role every year in the awareness-raising project by ABBL “Woch vun de Suen”, which is is aimed at school children in Luxembourg.</p> | 3/1/2017 12:00:00 PM | EN | Luxembourg, 1 March 2017: BIL is helping the non-profit organisation Jonk Entrepreneuren Luxembourg to give young people a taste for business and innovation. | | |
| Fonds culturel national, Fondation Indépendance and BIL sponsor the new Indépendance Grant in support of digital art | https://www.bil.com/en/bil-group/pressroom/news/Pages/fonds-culturel-national-fondation-independance-and-bil-sponsor-the-new-independance-grant.aspx | Fonds culturel national, Fondation Indépendance and BIL sponsor the new Indépendance Grant in support of digital art | | <p>While the digitalisation of the economy and of financial services receives considerable media coverage, digital artistic creation remains confined to an inner circle of specialists. However, visual artists have long been using digital means to create often experimental works that capture the Zeitgeist. In order to support the creative approach of these artists, BIL, the Fondation Indépendance and the National Cultural Fund (Fonds culturel national) are sponsoring the new Indépendance Grant.</p>
<p>This grant will support the creative process behind innovative works in the area of digital arts and new technologies. It will also ensure that these works reach a wide audience through exhibitions in the Galerie L'Indépendance. For BIL, the sponsorship of this grant is part of its ongoing promotion of art and innovation under its Corporate Social Responsibility (CSR) policy. Thanks to this policy, artists representing the national cultural scene are regularly given the oppportunity to exhibit at the Galerie L’Indépendance.</p>
<p>To qualify for the grant, artists must be Luxembourgish nationals or resident in the Grand Duchy. Applications must be submitted online no later than 31 March 2017. Information on the selection procedure and the award of the Indépendance Grant is available on <a href="http://www.focuna.lu/" target="_blank">www.focuna.lu.</a></p>
| 2/14/2017 11:00:00 AM | EN | Fonds culturel national, Fondation Indépendance and BIL sponsor the new Indépendance Grant in support of digital art in Luxembourg | | |
| Woman Business Manager of the Year: applications sought for the Innovation Award | https://www.bil.com/en/bil-group/pressroom/news/Pages/women-business-manager-of-the-year-applications-sought-for-the-innovation-award.aspx | Woman Business Manager of the Year: applications sought for the Innovation Award | | <p>Since 2006, the Woman Business Manager of the Year competition showcases exceptional women whose talent and energy stimulate the economy of Luxembourg. The aim of the competition is to highlight the important role of women in the world of business and to support women entrepreneurs.</p>
<p>BIL and its partners have decided to put the spotlight on innovation for the 2017 competition. The mixed-gender jury, composed of representatives of BIL and its partners, will select an innovative project led by a woman. The candidate can either be a manager in a start-up or in a long-established company in Luxembourg. Her project may take the form of a newly created business or be implemented within an SME or large company. The winner will receive the Innovation Award plus a cheque for EUR 10,000 at the ceremony on 27 April 2017.</p>
<p>“<i>What we want to promote with this competition is the diversity of talent and creative spirit of women</i>”, explained Marcel Leyers, BIL’s Chief of Corporate and Institutional Banking.</p>
<p>Application must be submitted at <a href="http://www.wbmy.lu/" target="_blank">www.wbmy.lu</a> by 10 March with a description of the project. Projects must be innovative and have a positive impact on Luxembourg’s economy. The jury will invite the top five candidates to pitch their projects before selecting the Woman Business Manager of the Year.</p>
<p>The complete terms and conditions of the Woman Business Manager of the Year Innovation Award are available at <a href="http://www.wbmy.lu/" target="_blank">www.wbmy.lu</a>.</p>
| 1/19/2017 11:00:00 AM | EN | Banque Internationale à Luxembourg is pleased to organise the competition for Woman Business Manager of the Year. | | |
| Governance.io raises funding round of €2m | https://www.bil.com/en/bil-group/pressroom/news/Pages/governanceio-raises-funding-round-of-eur-2m.aspx | Governance.io raises funding round of €2m | | <p>The company will use the funds to further accelerate development of the platform and fuel international expansion to four new EU markets.</p>
<p>“<i>We launched our solution in 2015. In the last months we have seen a considerable acceleration of new client business, both in Luxembourg and outside. At the beginning of 2017 we will start our expansion into the UK, Ireland, Germany and France, in addition to supporting business requests from other countries such as the US, Hong Kong and Singapore. We are expanding our team to support our development</i>”, says Bert Boerman, CEO and Co-Founder of 2Gears.
<br>“<i>We are also working on many more functionalities that will make our clients’ lives even easier. Our aim is to make investment fund oversight effortless! This financing from our banking partner BIL will help us to take the next big step</i>”.</p>
<p>Tom Lessel, Head of Corporate Banking of BIL, added: “<i>As a strong supporter of the Luxembourg startup ecosystem and innovative companies, BIL is proud to bring financing to FinTech of the Year 2Gears S.A. We were impressed by their innovative solutions and growing track record. This loan is backed with the InnovFin guarantee that helps us boost financing to Luxembourg-based startups and SMEs</i>”.</p>
<p>BIL signed a financing agreement with the European Investment Fund (EIF) in 2015 to provide 60 million euros of finance to innovative companies in Luxembourg over the next two years. The loans are backed by a guarantee of the EIF, enabled by the InnovFin initiative. Its aim is to accelerate lending to increase job creation and economic growth in the EU.</p>
<p>2Gears S.A. was named “<i>Luxembourg FinTech Startup of the Year</i>” in June 2016 for its pioneering Investment Fund Oversight platform, Governance.io. The solution enables professionals to transparently organise and exchange all data, documentation and controls of the investment funds they manage.</p>
<p>For further information, please visit <a href="https://www.governance.io/" target="_blank">www.governance.io</a>.</p> | 12/22/2016 9:00:00 AM | EN | 2Gears S.A., the award-winning creator of the Governance.io Investment Fund Oversight solution, secured a long-term bank loan from BIL L as part of its recent funding round of EUR 2 million. | | |
| BIL, the first bank to offer fully mobile services | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-the-first-bank-to-offer-fully-mobile-services.aspx | BIL, the first bank to offer fully mobile services | | <p>Until now, clients always needed two devices to access online banking services and validate transactions: one device to navigate the website and view their accounts, and another device to generate the authentication code (either a Token or the LuxTrust Mobile app).</p>
<p>BIL is taking another step forward in improving its client experience by offering BILnet online services that are 100% mobile. Thanks to the LuxTrust Mobile app and App to App technology, BIL clients who have an iPhone or iPad can now access their accounts and all BIL’s online services without the need for a Token. The solution proposed by the bank combines a high level of security – which is an absolute prerequisite for its development – with user-friendliness, thus ensuring a better client experience.</p>
<p>“<i>It is essential to take advantage of the possibilities offered by current technology to improve our services and the client experience. That is what we are doing now by offering a fully mobile experience, using a single device, thanks to App to App technology. As soon as the technology is available and secure, our objective is to enable as many of our clients as possible to benefit from this solution, regardless of the type of smartphone used,</i>” explains Didier Richter, Head of Operational Marketing and Direct Banking at BIL.</p>
<p>BIL is the first bank to offer this innovative service to its clients. In order to use this service, clients must have both the BILnet banking and LuxTrust Mobile apps. They can then activate the <i>App to App</i> authentication service on the LuxTrust website. Once they have done this, whenever they log on to BILnet or validate a transaction, the two mobile apps automatically communicate with each other. Clients can discover this new service by visiting <a href="https://www.bil.com/byebyetoken/index-ios-en.html" target="_blank">www.bil.com/byebyetoken/index-ios-en.html</a>.
<br>They can still use their Token as a means of authentication and may use it if they want to log on and validate their transactions online from a computer or mobile device.</p>
<p>This simplified mobile access to BILnet is one of the many innovations developed by the bank to enhance its services. BIL is the only bank in Luxembourg that enables its clients to withdraw cash from its ATMs using a smartphone, without the need for a bank card. It is also the first bank to have integrated Touch ID into its BILnet Mobile app to let clients to view their accounts and make transfers.</p> | 12/20/2016 9:00:00 AM | EN | BIL, in partnership with LuxTrust, is the first bank to offer its clients a fully mobile experience on iPhone and iPad. | | |
| BIL IMMO Index up sharply in Q2 2016 | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-immo-index-up-sharply-in-q2-2016.aspx | BIL IMMO Index up sharply in Q2 2016 | | <p class="text-center"><img src="/PublishingImages/site-groupebil/news/201611_BILIMMOIndexQ2_EN.jpg"></p>
<p>The BIL IMMO <i>Index</i> stood at +1.44 in Q2 2016<sup>1</sup>, up from +0.93 in Q4 2015. Its change indicates a clear upswing in the national housing market since the beginning of the year. Explanations include further price rises, a sustained increase in homebuilding, and growth in the volume of lending.</p>
<p>"<i>Property prices rose by 5.6% between Q2 2015 and Q2 2016. Rents also climbed, but at a much slower pace. The increase in the BIL IMMO <i>Index</i> reflects this market upswing driven by the Centre South region,</i>" said Marcel Leyers, Chief of Corporate and Institutional Banking at BIL.
"<i>Current low interest rates are helping to fuel strong demand. On the supply side, 2,471 building permits were issued in the first half of 2016, compared with 1,827 over the first half of 2015. If this growth were to continue, it could ease house-price inflation and bring the index back towards its equilibrium.</i>"</p>
<p>Launched in October 2015 and developed by BIL in partnership with PwC Luxembourg, the BIL IMMO <i>Index</i> illustrates the housing market trend in Luxembourg to professional, institutional and retail investors.</p>
<p>Updated regularly and published every six months, the index is based on price changes on the selling and rental markets, as well as factors underlying supply and demand such as the national economy, construction activity and demographic change. A total of seven ratios are synthesised to produce the BIL IMMO <i>Index</i>, an easy-to-interpret indicator that gives an overview of the last 35 years on the Luxembourg housing market.</p>
<p>Find full analyses by region at <a href="https://www.bil.com/immoindex/index-en.html">www.bil.com/immoindex</a> and in BIL branches.</p>
<p><small><sup>1</sup>The index runs on a scale of -3 to +3 and reads the temperature of the market. At +3, the maximum level, the market is thought to be “overheating”. At the other end of the scale, a negative index means that the market is lacklustre, and a level of -3 indicates a stagnant, “frozen” market.</small></p> | 12/12/2016 10:00:00 AM | EN | The index, which gauges the market, reached +1.44 in the second quarter of 2016, compared with +0.93 at the end of 2015. | | |
| BIL named Bank of the Year 2016 – Luxembourg | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-named-bank-of-the-year-2016-luxembourg.aspx | BIL named Bank of the Year 2016 – Luxembourg | | <p>Each year, <i>The Banker</i>, the leading magazine for the world of finance, published by the <i>Financial Times</i>, presents awards for the best financial institutions. Composed of 120 financial sector professionals, the jury bases its decision on companies’ performance and primary achievements over the past 12 months.</p>
<p>“<i>We are delighted that our bank, our excellent performance and the quality of our business plan have received the recognition of sector experts. We must thank the professionalism of all of our staff and the high quality of services that we offer our clients for this award. It serves as motivation to redouble our efforts,</i>” said Hugues Delcourt, BIL’s Chief Executive Officer.</p>
<p>For this year’s Bank of the Year award, the judges paid particular attention to the challenging conditions in the banking sector and to the strategic initiatives implemented by financial institutions at a time of ever intensifying competition and when clients have increasingly high demands of the services they receive.</p>
<p>In its awards review, the jury emphasised that "<i>Banque Internationale à Luxembourg (BIL) has shown it is adapting to the current challenges with the implementation of its new BIL2020 strategy. BIL2020 aims to strengthen the bank's position and increase revenue by providing relevant and adapted value propositions to its clientele, with a strong emphasis on innovation and technology.</i>"</p> | 12/8/2016 10:00:00 AM | EN | Financial Times Group’s financial magazine, The Banker, has presented BIL with the Bank of the Year 2016 – Luxembourg award. | | |
| BIL exhibition: Michel Majerus – Printer’s Proof | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-exhibition-michel-majerus-printers-proof.aspx | BIL exhibition: Michel Majerus – Printer’s Proof | | <p>The <i>Printer’s Proof</i> exhibition, organised by the Michel Majerus Estate together with BIL, will give the public the opportunity to discover the series of the same name, composed of 80 sepia drawings. Produced in 1998, they are unique among Michel Majerus’ work. A special installation has been built in the central space of the Galerie L’Indépendance to display these pieces. This central display is ringed by the second portion of the exhibition, in which visitors can admire other, larger pieces by Michel Majerus that mirror the visual vocabulary used in <i>Printer’s Proof</i>.</p>
<p>Born in 1967 in Esch-sur-Alzette, Michel Majerus was one of his generation’s most influential contemporary artists. After studying at the Staatliche Akademie der Bildenden Künste in Stuttgart between 1986 and 1992, he settled in Berlin, where he quickly earned international acclaim. The artist’s promising career was tragically cut short in a fatal airplane crash in 2002.</p>
<p>Typical of Majerus’ work is that he pushes the boundaries of his chosen medium, bringing his paintings off the walls and into the room. His pieces characteristically combine imagery from a wide variety of sources, including art history references, slogans and visual elements from advertising and pop culture. Today, the work of Michel Majerus features in some of the world’s most important art collections, such as the MoMA in New York, but also in Luxembourg, where his art is displayed in the collections of the Mudam and the National Museum of History and Art.</p>
<p>“<i>We are proud to present to the Luxembourg public never-before shown pieces by Michel Majerus. This exclusive exhibition is a wonderful way to end this year of celebrations marking BIL’s 160th anniversary. Throughout the year, we have strived to place an emphasis on supporting the arts, because promoting culture and artistic endeavour is at the heart of our social commitment,</i>” said Hugues Delcourt, CEO of Banque Internationale à Luxembourg.</p>
<p>This prestigious Michel Majerus exhibition is the culmination of a particularly rich artistic programme in 2016. At the beginning of the year, the Galerie L’Indépendance displayed pieces by Luxembourg artist Armand Strainchamps. A polyptych of 16 paintings specially created by the artist for the bank’s 160th anniversary symbolised the bank’s economic, social and cultural commitment in the country. It was followed in the middle of the year by the second edition of Art2Cure, a joint exhibition bringing together 28 Luxembourg and foreign artists, which raised almost EUR 60,000 to finance research on Parkinson’s and Alzheimer’s. The Galerie L’Indépendance has featured the work of leading national and international artists for more than 30 years.</p>
<p><b>The Michel Majerus exhibition <i>Printer’s Proof</i> is open to the public on business days from 28 October 2016 until 10 February 2017 (from 9am to 6pm).</b>
<br><b>Galerie L’Indépendance,</b>
<br><b>69, route d'Esch, L-2953 Luxembourg</b></p> | 11/13/2016 10:00:00 AM | EN | BIL invites the public to discover never-before exhibited pieces by artist Michel Majerus. | | |
| Moody's upgrades BIL's rating | https://www.bil.com/en/bil-group/pressroom/news/Pages/moodys-upgrades-bil-s-rating.aspx | Moody's upgrades BIL's rating | | <p>In its latest assessment, Moody's upgraded its main indicators for BIL’s financial rating. The long-term deposit, issuer and senior unsecured debt ratings move from A3 to A2, with a positive outlook.</p>
<p>"<i>Our BIL2020 corporate strategy is continuing to bear fruit. We are further reinforcing our position as a universal bank on our national market and are developing our private banking activities internationally," declared Hugues Delcourt, BIL's Chief Executive Officer. "We are delighted that Moody’s has recognised our strong financial fundamentals. Thanks to the support of our staff and shareholders, we will carry on delivering an ever-improving service to all of our clients.</i>" </p> | 10/26/2016 9:00:00 AM | EN | Moody’s Investors Service has upgraded its ratings for Banque Internationale à Luxembourg (BIL), reflecting the bank’s solid financial strength. | | |
| BIL is launching its new my|HOME service in partnership with Nexvia | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-is-launching-its-new-my-home-service-in-partnership-with-nexvia.aspx | BIL is launching its new my|HOME service in partnership with Nexvia | | <p>Investing in real estate is a complex project, whether for families seeking to buy their own home or for individuals wanting to invest in order to let out their property. There are many aspects to be taken into account, such as whether it’s better to rent ot to buy, financing options, monthly charges and, of course, the property itself, its size and location. To help prospective home buyers make the right decision, BIL is now offering my|HOME, an innovative, user-friendly online service designed by Nexvia.</p>
<p>“<i>We are always on the lookout for new ideas to enhance our range of services and improve the client experience. We were attracted by Nexvia’s positioning at the crossroads of technology, finance and property</i>”, explained Pierre-Olivier Rotheval, Head of Innovation at Banque Internationale à Luxembourg. “<i>Thanks to our partnerships with Technoport and nyuko, we are immersed in the Luxembourg startup ecosystem. We finance these companies when we consider that the project is sound. As bankers, that’s what we do. And when the service is relevant for our clients, we do not hesitate to take our collaboration to the next level. Innovation is very much at the heart of our BIL2020 strategy</i>”.</p>
<p>Nexvia, a Luxembourg startup launched in 2016 by Pierre Clement, specialises in residential property decision-making, transaction and investment consultancy services. Its ambition is to provide the best financial tools to enable users to make well-informed property decisions, while offering a modern transaction experience for buyers and sellers alike.</p>
<p>“<i>Nexvia is delighted to have this opportunity to collaborate with a bank such as BIL, which is a key player in the local marketplace, and to offer its clients comprehensive, transparent tools through my|HOME. BIL is an institution that is firmly focused on the future and ready to work actively with a startup to provide a unique digital property experience. Moreover, this partnership with Nexvia demonstrates the relevance and professionalism of the solutions and services offered by our team</i>” added Pierre Clement, founder and Managing Director of Nexvia.</p>
<p>The many user-friendly simulation tools available on my|HOME enable users to get a clearer picture of their project and reach the most suitable property decision on the basis of their personal criteria. This new website is further proof of BIL’s capacity to innovate to provide its clients with a service and financing solutions tailored to their needs.</p>
<p>To start assessing your property project with my|HOME, go to <a href="https://www.bil.com/myhome/index-en.html" target="_blank">www.bil.com/myhome</a></p> | 9/29/2016 9:00:00 AM | EN | In keeping with its commitment to innovation, BIL is launching my|HOME, a property website. | | |
| Robust performance in challenging times | https://www.bil.com/en/bil-group/pressroom/news/Pages/Robust-performance-in-challenging-times.aspx | Robust performance in challenging times | | <ul>
<li>Pre-tax net operating profit (excluding non-recurring items) of EUR 60 million.</li>
<li>Client loans up by 5.7% to EUR 12 billion, compared with EUR 11.4 billion at 31 December 2015.</li>
<li>Client deposits up by 6.4% to EUR 16 billion, compared with EUR 15 billion at 31 December 2015.</li>
<li>Assets under management up by 0.8% to EUR 35.8 billion, compared with EUR 35.5 billion at 31 December 2015.</li>
</ul>
<p>BIL reported a satisfactory performance for its commercial banking activities in the first half of 2016. Deposits increased by 6.4% in 6 months to reach EUR 16 billion, a clear indication of BIL’s stronger position on the markets in which it operates. Client loans rose by 5.7% to EUR 12 billion, demonstrating the bank’s active role in the financing of the Luxembourg economy. Moreover, assets under management gained 0.8% to reach EUR 35.8 billion. This good performance should be viewed in the context of a particularly challenging environment for the banking sector, with negative interest rates, volatile financial markets and a continued level of high regulatory pressure.</p>
<p><b>Solid foundations and proven profitability</b></p>
<p>BIL reported pre-tax operating profit of EUR 60 million in H1 2016, down on the same period in 2015, when it achieved EUR 66 million. This decline can largely be attributed to the cost associated with the Deposit Guarantee Scheme (DGS), which was higher in 2016 than in 2015, and the contributions to the Luxembourg and European resolution funds. On a like-for-like basis (excluding the DGS and resolution funds) and including six months of KBL (Switzerland) in 2015<sup>1</sup>, pre-tax operating income is up 7.1%.</p>
<p>Net income for H1 2016 amounted to EUR 45 million, compared with EUR 108 million for the same period in 2015. Although this figure is down, it can in large part be explained by the exceptional income received in 2015, notably through the sale of Luxempart (EUR 67 million) and the increased contribution to the DGS and resolution funds in 2016.</p>
<p>The strength of the bank’s financial position is also reflected by ratings agency evaluations. In H2 2015, Moody’s and Standard & Poor’s increased their ratings to A3/positive/P-2 and A-/Stable/A-2 respectively. In April 2016, Fitch confirmed its rating of BBB+/Stable/F2. Results from recent stress tests of banks belonging to the ECB Supervisory Review and Evaluation Process (SREP) Stress Tests group confirmed that BIL has a strong solvency position, even in the most adverse economic conditions or difficult markets.</p>
<p>“<i>This good performance shows once again that BIL, with the strong support of its shareholders, is on a sound financial footing and has a development strategy – embodied by its staff – that is bearing fruit. Our commercial banking activities are growing and we are gaining market share thanks to innovative solutions that are relevant to our clients in Luxembourg and abroad,</i>” stated Hugues Delcourt, BIL’s CEO.</p>
<p><small><sup>1</sup>We have included this in order to compare H1 2016 with H1 2015 in view of the fact that KBL (Switzerland) was merged with BIL (Suisse) in November 2015.</small></p> | 8/19/2016 9:00:00 AM | EN | BIL has published its financial results for the first half of 2016. | | |
| LuxTrust Scan and LuxTrust Mobile for safer, simpler, more mobile online transactions. | https://www.bil.com/en/bil-group/pressroom/news/Pages/luxtrust-scan-and-luxtrust-mobile-for-safer-simpler-more-mobile-online-transactions.aspx | LuxTrust Scan and LuxTrust Mobile for safer, simpler, more mobile online transactions. | | <p>To improve their clients’ experience of using online services, banks must juggle two seemingly contradictory needs: easier access to their services, and tighter security. To solve this, LuxTrust has developed safer, simpler and more mobile solutions: the LuxTrust Scan device and LuxTrust Mobile app. Banque de Luxembourg and Banque Internationale à Luxembourg (BIL) clients will be the first beneficiaries.</p>
<p>“<i>Based on the transfer of contextual information encrypted with a two dimensional barcode, the technology applied by LuxTrust Scan and LuxTrust Mobile is not only user friendly but offers a high level of protection against phishing and man-in-the-middle attacks</i>”, said Bernard Antoine, Chief Customer Officer at Luxtrust.</p>
<p>When logging in to their account on the bank website, clients can choose a new method of identification using a QR code. This code will then be displayed on the computer screen and the client can scan it either with a LuxTrust Scan device or a smartphone with the Luxtrust Mobile app (available for iOS and Android). Once the transaction data shown on the device is validated, a one-time password (OTP) will be generated. This quick and easy process can also be used to confirm e-banking transactions. This new identification method complements those already offered by these banks.</p>
<p>“<i>Given the surge in cybercrime, this unique collaboration with LuxTrust has allowed us to develop an innovative solution that gives our clients the maximum level of security when carrying out online transactions. We are now rolling this new system out to all of our clients, and this is now the main authentication method for accessing the bank’s digital services,</i>” explained Romain Weiler, CIO and member of the Management Board of Banque de Luxembourg. </p>
<p>Olivier Debehogne, Head of Retail and Digital Banking and member of the Management Board of Banque Internationale à Luxembourg, added: “<i>The client experience is at the very heart of our focus and we are constantly seeking to improve it. We were the first to incorporate Touch ID into our BILnet Mobile application. With this new solution developed together with LuxTrust, the authentication step with a smartphone in order to access our online services combines speed, user friendliness and maximum security. It is a great leap forward for our clients, giving them a smoother, more mobile online experience.</i>”</p> | 7/29/2016 9:00:00 AM | EN | In working closely with BDL and BIL, LuxTrust has developed an innovative new authentication solution offering a high level of security, which the two banks’ clients can now use to log in to their online banking service. | | |
| #BILJOBDATING 2016 a big hit! | https://www.bil.com/en/bil-group/pressroom/news/Pages/biljobdating-2016-a-big-hit.aspx | #BILJOBDATING 2016 a big hit! | | <p>Application software engineer, application support engineer, junior developer, community manager, content manager, etc. The jobs proposed at BIL Jobdating 2016 reflect the digital transformation that BIL is undergoing and the emphasis placed on innovation, one of the pillars of the BIL 2020 strategy.</p>
<p>“<i>For this Jobdating event, we focused on highly-skilled jobs and on hard-to-find talent. With almost 200 candidates from Luxembourg and the Greater Region registered for the event, we exceeded our objectives. We were impressed by the quality of the discussions with candidates,</i>” explained Karin Scholtes, Global Head of Human Resources at BIL.</p>
<p>The first candidates arrived at 9am for their first interview. The most talented of these candidates had three interviews, with the possibility at the end of the day of being offered a job. In total, more than 350 interviews were held during the Jobdating day, with the involvement of almost 100 BIL staff members.</p>
<p>Although the challenge for candidates was to land a job, this Jobdating day was also an opportunity for them to gain a better understanding of BIL and its business lines. Experts from the bank presented the philosophy underlying BIL’s retail banking services, online services and innovation policy. Accompanied by bank staff, the candidates were able to visit a typical branch in order to go behind the scenes and even to familiarise themselves with innovative e-banking and video-recruiting solutions.</p>
<p>Nicolas Schmit, Minister of Labour, Luc Frieden, BIL’s Chairman of the Board of Directors, Hugues Delcourt, BIL’s CEO, Guy Pütz, Head of ADEM’s employer department and Jerry Lenert, CEDIES coordinator, were also present to meet and encourage the candidates.</p>
<p>”<i>Faced with the challenges of digital transformation, we are committed to recruiting talented young people to pursue our growth. During the third edition of BIL Jobdating, our experts met a large number of candidates with rich and varied profiles. They demonstrated their desire to learn and progress, and we are eager to welcome them among our teams</i>”, commented Hugues Delcourt, BIL’s CEO.</p> | 7/7/2016 9:00:00 AM | EN | BIL’s third Jobdating event was held on Saturday 2 July. | | |
| #BILJOBDATING 2016: digital technology jobs in the spotlight! | https://www.bil.com/en/bil-group/pressroom/news/Pages/biljobdating-2016-les-metiers-du-digital-a-l-honneur.aspx | #BILJOBDATING 2016: digital technology jobs in the spotlight! | | <p>During this, its third Jobdating event, BIL is focusing on jobs in the field of digital technology. In addition to sales positions, the jobs on offer will include IT jobs, such as application software engineer, application support engineer, junior developer, and marketing jobs, such as community manager, content manager, etc. Information on all the vacancies to be filled is available at <a href="https://www.bil.com/jobdating/index-en.html">www.bil.com/jobdating</a>.</p>
<p>The BIL Jobdating principle is simple: during this unique recruitment day, candidates take part in a three-stage process. First of all, candidates have a fifteen minute one-on-one interview with a human resources expert. After this, they meet a specialist from one of the bank’s business lines. The candidates who make it past these two stages then have a third interview with Karin Scholtes, Global Head of Human Resources at BIL, and a senior business line manager.</p>
<p>“<i>As I was finishing up my IT degree in 2015, I attended the BIL Jobdating event to find my first job. I really enjoyed the format of the discussions, which enabled my interview partners to get to know me and allowed me to gain a better understanding of BIL and how the bank operates. One week after the Jobdating event, I received an employment offer and then three months later, after I finished my studies, I started my new job! Now, I work in a diverse environment that is constantly changing, which makes it all the more interesting!</i>” says Guillaume Pighi, Associate IT Security Officer.</p>
<p>“<i>We are looking forward to meeting this year’s candidates. This recruitment event has become an important date in the BIL calendar. We open our doors to the candidates and give them the opportunity to discover our business lines. BIL Jobdating uses the speed dating format for a good reason: the recruitment process goes both ways, as the candidates also need to get a feeling of whether working for BIL is the right fit for them.</i>” explains Karin Scholtes.</p>
<p>When the event was launched in 2014, it was the first time such a “speed recruiting” session was organised by a Luxembourg bank. It has enjoyed continued success since then: over 500 candidates have registered each year, and more than 40 staff members have been recruited thanks to Jobdating.</p>
<p>To consult a full list of job vacancies and register for BIL Jobdating, go to <a href="https://www.bil.com/jobdating/index-en.html">www.bil.com/jobdating</a>.</p>
<p><b>Closing date for registrations:</b> 1 July 2016
<br><b>Event date:</b> 2 July 2016
<br><b>Event location:</b> Banque Internationale à Luxembourg S.A., 69 route d’Esch, L-2953 Luxembourg.</p> | 6/21/2016 9:00:00 AM | EN | On Saturday 2 July 2016, almost 100 BIL staff members will be mobilised for the third BIL Jobdating event. | | |
| “BIL IMMO index”: BIL presents the second edition of its exclusive Luxembourg housing market index | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-immo-index-bil-presents-the-second-edition-of-its-exclusive-luxembourg-housing-market-index.aspx | “BIL IMMO index”: BIL presents the second edition of its exclusive Luxembourg housing market index | | <p>On 12 May, more than 200 real estate professionals met at BIL’s head office for a conference devoted to the Luxembourg housing market.</p>
<p>At this event, Georges Mines, BIL’s Head of Real Estate, reminded participants that this index, which was launched in October 2015, is the first to consolidate housing sector information in a market indicator.</p>
<p>Developed in cooperation with PwC Luxembourg, the BIL IMMO index allows professional, institutional and retail investors to immediately understand the housing market trend on the basis of economic ratios and accurate methodological analyses. On a scale of -3 (frozen) to +3 (overheated), this index offers a summary of the Luxembourg housing market, based on changes in seven ratios weighted to indicate a trend. The index enriches BIL’s already comprehensive range of mortgage solutions.</p>
<p>“<i>Our bank has always been anchored in the Luxembourg real estate market. Its role goes beyond simply providing various types of financing. Therefore we have developed a specific housing market index which helps our clients to understand the situation of the housing market at the level of the country’s six main regions</i>”, emphasised Hugues Delcourt, BIL CEO.</p>
<p>Available on sur <a href="https://www.bil.com/immoindex/index-en.html">www.bil.com/immoindex</a> and updated every six months, the BIL IMMO index offers a historical view of the last 35 years of the housing market in Luxembourg, giving an indication of trends based on indicators related to the fundamentals of the business sector and the national economy.</p> | 5/13/2016 10:00:00 AM | EN | In Q4 2015, the index stood at +0.93 versus +1.72 at the end of 2014. It is therefore closer to equilibrium in a market that remains buoyant. | | |
| BIL, Technoport partnering to support entrepreneurs | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-technoport-partnering-to-support-entrepreneurs.aspx | BIL, Technoport partnering to support entrepreneurs | | <p>This partnership is the logical result of a common desire to collaborate in the creation of an ecosystem favourable to the emergence of innovative companies in Luxembourg. BIL and Technoport will supply financing tools (including loans eligible for the European Investment Fund’s InnovFin guarantee), exchange expertise to evaluate projects, provide work spaces and organising specific events around entrepreneurship. BIL is the first bank to commit itself at this level with Technoport.</p>
<p>“<i>Providing finance for entrepreneurs setting up innovative businesses is central to what we do. This is a key component of the start-up ecosystem growing in Luxembourg, and we our proud to contribute to it. Joining forces with Technoport – another key component of this ecosystem – in order to help the gems of the future emerge is a win/win situation. Ultimately, it’s the national economy as a whole that will benefit,</i>” commented Pierre-Olivier Rotheval, BIL’s Head of Innovation.</p>
<p>Diego De Biasio, Technoport’s CEO, highlighted the importance of the partnership: “<i>We are delighted that BIL has decided to support us through this multi-year partnership. For structures like Technoport, it is essential to develop such synergies in order to be able to facilitate access to business expertise, and this is for several reasons. It may be to assess project applications to become part of the Technoport or to help such candidates ensure faster structuring and validation of their business projects. The discussions with BIL’s innovation department were conducted in a very natural and open manner, and the first steps have already been taken. I am confident that this partnership will generate many synergies.</i>”</p>
<p>BIL is the fifth organisation to support Technoport with a senior partnership, alongside the City of Esch, ENOVOS, Paul Wurth Incub and Post Capital. This partnership represents a further development in the bank’s efforts to foster innovation and entrepreneurship. Its BIL Start support service enables start-up entrepreneurs to benefit from the various financing programmes in which the bank participates. BIL is a stakeholder in the Digital Tech Fund, recently launched by the Ministry of the Economy. In July 2015, BIL became the first Luxembourg bank to sign the InnovFin guarantee agreement for innovative SMEs as part of the European Fund for Strategic Investments (EFSI).</p>
<p>Press release by Banque Internationale à Luxembourg and Technoport SA</p> | 5/4/2016 10:00:00 AM | EN | BIL and Technoport SA are pleased to announce that they have signed a senior partnership agreement. | | |
| Luc Frieden confirmed as Chairman of BIL’s Board of Directors | https://www.bil.com/en/bil-group/pressroom/news/Pages/luc-frieden-confirmed-as-chairman-of-bil-s-board-of-directors.aspx | Luc Frieden confirmed as Chairman of BIL’s Board of Directors | | <p>The 2015 <a href="https://www.bil.com/Documents/communiques-de-presse/2016-03-24-en.pdf" target="_blank">financial results</a> which were communicated on 24 March were also approved at the general meeting. The annual report is available on <a href="https://www.bil.com">bil.com</a>.</p> | 4/29/2016 10:00:00 AM | EN | As announced on 4 March 2016, the nomination of Luc Frieden to the chairmanship of BIL’s Board of Directors was approved by the European Central Bank and confirmed during BIL’s general meeting on 29 April 2016. | | |
| BIL, stakeholder of the Digital Tech Fund | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-stakeholder-of-the-digital-tech-fund.aspx | BIL, stakeholder of the Digital Tech Fund | | <p>Innovation and support for the development of the national economy are the cornerstones of the BIL2020 strategy, which BIL launched in 2015. The bank is developing more and more initiatives, as reflected in its involvement in the Digital Tech Fund, a seed fund launched at the behest of the Ministry of the Economy as part of the “Digital Lëtzebuerg” programme.</p>
<p>Operational from May 2016, this fund will be managed by Expon Capital S.A.R.L. It will acquire interests in promising, innovative companies in fields such as cybersecurity, FinTech, Big Data, Digital Health, media and cutting-edge communications, digital learning, the Internet of things, telecommunications and satellite services.</p>
<p>“<i>With the Digital Tech Fund, start-up entrepreneurs have access to an additional source of finance. It is important to offer more of these initiatives, strengthening the start-up ecosystem in Luxembourg and helping to develop the economy. We at BIL strongly believe in these initiatives. We get involved and actively support them</i>”, explains Marcel Leyers, member of the Management Board and Head of Corporate and Institutional Banking at BIL.</p>
<p>Since the launch of its BIL2020 strategic plan in 2015, BIL has been stepping up its initiatives to support innovation in Luxembourg. In July 2015, BIL signed an agreement with the European Investment Fund aimed at increasing lending to small and medium-sized enterprises (SMEs) through the InnovFin programme. The bank also launched BIL Start for business creators, offering them a full range of project support measures. In February 2016, BIL signed a partnership with nyuko to help it back its community of start-up entrepreneurs.</p> | 4/13/2016 10:00:00 AM | EN | Announced in December 2015 by the Ministry of the Economy, and supported by BIL and six other investors, the Digital Tech Fund is now going operational. | | |
| 2015 financial results: BIL reports steady growth | https://www.bil.com/en/bil-group/pressroom/news/Pages/2015-financial-results-bil-reports-steady-growth.aspx | 2015 financial results: BIL reports steady growth | | <ul>
<li>Net income: increase by 10% to EUR 134 million from EUR 122 million in 2014 </li>
<li>Assets under management: increase by 15.2% to EUR 35.5 billion from EUR 30.8 billion
in 2014 </li>
<li>Client deposits: increase by 11.7% to EUR 15 billion from EUR 13.4 billion in 2014 </li>
<li>Client loans: increase by 4.9% to EUR 11.4 billion from EUR 10.8 billion in 2014</li>
<li>Long-term credit ratings upgraded by S&P (from A- negative to A- stable) and by
Moody’s (from Baa1 to A3) with a positive outlook </li>
</ul>
<p>“<i>BIL continued to experience steady growth across all of its businesses during 2015. This
momentum demonstrates the effectiveness of our multi-business line model as well as that of
our BIL2020 strategy launched in April 2015. These strong financial results also highlight the
commitment of our people and our clients and invite us to persist in our efforts to continue
delivering high-quality and innovative services,</i>” says BIL CEO Hugues Delcourt.</p>
<p>The bank’s robust financial results were delivered against a backdrop of continued market
volatility and increasingly low interest rates. Net income before tax stands at 166 million
euros, an increase by 1%. Excluding exceptional items, such as the sale of Luxempart and
the acquisition of KBL (Switzerland) Ltd by BIL (Suisse), net income before tax increased by
13%, clearly demonstrating the dynamism of the bank's commercial activities. Net income
stands at 134 million euros for 2015, an increase by 10% compared to 2014. </p>
<p>BIL continues to attract new clients and grow market share, both in Luxembourg and
internationally. Client deposits grew by 11.7% to reach 15 billion euros in 2015. Client loans
have also grown during this period. They stood at 11.4 billion euros as of 31 December 2015.
Assets under management increased significantly during 2015, rising from 30.8 billion euros
to 35.5 billion euros thanks to above-market net new assets of 5% from existing and new
clients, to the acquisition of KBL (Switzerland) Ltd and a positive market effect. </p>
<p>The bank's solid financial position is also reflected by rating agencies’ evaluations in 2015. In
June, Moody’s Investors Service upgraded its long-term credit rating from Baa1 to A3 with a
positive outlook. In December, Standard & Poor’s raised its outlook from negative to stable,
with an unchanged rating of A-. </p>
<p>These results are scheduled for approval on 29 April at the general meeting of shareholders.
With clear strategic goals, the support of its clients and that of its shareholders, Precision
Capital and the Grand Duchy of Luxembourg, BIL is well positioned for the years to come in
spite of a general banking environment that is increasingly challenging. </p> | 3/24/2016 11:00:00 AM | EN | Banque Internationale à Luxembourg SA (BIL) presents
its financial results for the year ended 31 December 2015. | | |
| Luc Frieden to be nominated as new Chairman of the Board of Directors of BIL | https://www.bil.com/en/bil-group/pressroom/news/Pages/luc-frieden-to-be-nominated-as-new-chairman-of-the-board-of-directors-of-bil.aspx | Luc Frieden to be nominated as new Chairman of the Board of Directors of BIL | | <p>The Board of Directors will propose to the assembly in April to appoint Luc Frieden to the Board. Mr. Frieden, a Luxembourgish national who most recently served as Vice-Chairman of Deutsche Bank Group in London and as Chairman of the Supervisory Board of Deutsche Bank Luxembourg, will then take over the chairmanship of BIL from Mr. Pauly, subject to regulatory approval.</p>
<p>George Nasra, CEO of Precision Capital, BIL’s majority shareholder, highlighted
François Pauly’s tremendous contribution to the bank’s sustained growth, calling him “<i>a pillar of BIL’s success, who led the development of its franchise in Luxembourg and its expansion internationally.</i>” </p>
<p>Mr. Nasra added: “<i>As BIL’s new Chairman, Luc Frieden will draw upon his impressive experience at the domestic, European and global level, to ensure that this premier Luxembourgish bank continues to reach new heights, seizing the full promise of the future.</i>”</p>
<p>Luc Frieden, lawyer by training, served from 1998 to 2013 as a member of the Luxembourg government. He was Minister of Justice, Minister of Treasury and Minister of Finance. </p>
<p>François Pauly served BIL between 1987 and 2004 and from 2011 to 2016. He holds various non-executive directorships both in Luxembourg and abroad, and is Chairman of Compagnie Financière La Luxembourgeoise.</p>
| 3/4/2016 11:00:00 AM | EN | Banque Internationale à Luxembourg announced today that its current Chairman, François Pauly, has decided to step down at the AGM on 29 April, 2016. | | |
| BIL Exhibition: “The same AS 10 times 16” by Armand Strainchamps | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-exhibition-the-same-as-10-times-16-by-armand-strainchamps.aspx | BIL Exhibition: “The same AS 10 times 16” by Armand Strainchamps | | <p>Founded in 1856, BIL enjoys a rich history which is entwined with that of the Grand Duchy and its economy. Focused on the future, the bank has always placed great importance on innovation and creation and its support for the arts is the finest example of this. The Galerie L’Indépendance has been hosting the most prominent Luxembourgish artists for more than 20 years. To celebrate its 160th anniversary, BIL has invited the artist Armand Strainchamps to exhibit his most recent work as well as a polyptych of 16 paintings symbolising the bank’s economic, social and cultural commitment.</p>
<p>In order to produce the 16 themed pieces of the exhibition, entitled The same AS 10 times 16, Armand Strainchamps drew his inspiration from the notes that the bank had the privilege of issuing from its founding until the introduction of the euro. Decorative details from period banknotes, symbolic representations of agriculture and the steel industry and effigies of monarchs: every last one of these is a reference to this past that the artist skilfully depicts in his unique style, composed of abstract images, copy-art and elements of chronophotography, which capture snapshots of characters suspended in motion. By incorporating the bank’s colours, Armand Strainchamps connects its past to its present, like a purple thread weaving the future.</p>
<p>“<i>Through his unique approach, Armand Strainchamps has managed to perfectly illustrate the deep-rooted ties that inherently bind BIL to the country. Hosting him to mark our 160th anniversary is a privilege that fuels our aspirations to build on our policy as a sponsor of art and culture</i>”, commented Hugues Delcourt, BIL’s CEO.</p>
<p>This exhibition is yet another example of BIL’s dedication to promoting art and culture, which, alongside innovation and education, are at the heart of its corporate social responsibility policy. The same AS 10 times 16 is open to the public on business days from 26 February until 10 June 2016, from 8 a.m. to 6 p.m.</p>
| 2/25/2016 11:00:00 AM | EN | From 26 February to 10 June 2016, BIL will throw open the doors of its Galerie L’Indépendance to the Luxembourg artist Armand Strainchamps. | | |
| BIL partners with SOS Villages d’Enfants Monde | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-partner-with-sos-villages-d-enfants-monde.aspx | BIL partners with SOS Villages d’Enfants Monde | | <p>This donation marks the beginning of a true partnership between BIL and SOS Villages d’Enfants Monde. Education is at the heart of this Luxembourg non-profit association’s mission and projects. Along with culture and innovation, education is also one of the major themes that BIL intends to promote as part of its corporate social responsibility (CSR) policy.</p>
<p>SOS Villages d’Enfants Monde is part of SOS Children’s Villages, an international NGO helping orphans and abandoned children and disadvantaged families in more than 130 countries. The SOS Kindergarden in Dosso, Niger, financed through BIL’s donation, provides educational support for children and a skills enhancement programme for teachers. This project will strengthen the local community: mothers will be able to concentrate on their work while their children are looked after in the kindergarden.</p>
<p>Sophie Glesener, Managing Director of SOS Villages d’Enfants Monde, warmly thanked Hugues Delcourt and all of the BIL team for their invaluable support: “<i>We are particularly happy that BIL is firmly supporting the many SOS projects intended to ensure the well-being of the most vulnerable children by providing them with a caring family environment and a high-quality education that will offer them a better future.</i>”</p>
<p>“<i>We share many values with SOS Villages d’Enfants. Any reflection on sustainable development must be a long-term undertaking. There is an obvious need for access to education and support for vulnerable children. Today’s children are tomorrow’s citizens. We have been impressed by the quality of the projects undertaken and the commitment of the teams. We are delighted to support them</i>”, commented Hugues Delcourt, BIL’s CEO.</p>
<p>Part of this donation will be allocated to the SOS-Kannerduerf Lëtzebuerg non-profit association.</p>
| 2/16/2016 11:00:00 PM | EN | EUR 50,000 for the most vulnerable children and families | | |
| BIL and nyuko have joined forces to support innovative businesses | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-and-nyuko-have-joined-forces-to-support-innovative-businesses.aspx | BIL and nyuko have joined forces to support innovative businesses | | <p>Innovation and support for the development of the national economy are the cornerstones of the BIL2020 strategy, which the bank launched in April 2015. By supporting nyuko and working alongside experts from its network, BIL is once again demonstrating its strong commitment to innovative companies.</p>
<p>Obtaining financing is a crucial and complex stage in getting a business project off the ground. The two partners will work hand in hand in order to provide entrepreneurs with the financial resources needed to grow. On a regular basis, nyuko will liaise with BIL to assess funding plans, including those that may qualify for the European Investment Fund’s InnovFin initiative. BIL will offer its range of funding and support services to entrepreneurs from the nyuko community. The bank will take part in the nyuko learning programme in order to provide information on the various financing options and advise entrepreneurs when the time comes to present their plans to investors. Beyond the funding aspect, the two partners will work together on important matters which will help to improve the start-up environment in Luxembourg.</p>
<p>Nicolas Buck, chairman of nyuko’s board of directors, had this to say: “<i>I welcome this important alliance with BIL, one of our founding partners, to help innovative businesses. This partnership reflects a shared vision, and it is through our combined momentum that we will lay the foundations of a new economy. Large private firms have a key role to play in this transformation of our economy</i>”.</p>
<p>This partnership rounds out BIL’s range of services for founders and directors of innovative companies. Its BIL Start service enables it to support them at every stage of their development and give them access to the various framework programmes in which the bank is taking part. Alongside the Ministry of the Economy, BIL is also one of seven investors in the seed fund for start-ups launched in December 2015. Also, BIL was the first Luxembourg bank to sign the InnovFin guarantee agreement for innovative SMEs as part of the European Fund for Strategic Investments (EFSI) in July 2015.</p>
<p>“<i>We are firmly committed to working with entrepreneurs to provide financing solutions that are as innovative as the projects they develop. We share nyuko’s vision and were won over by their plans. It is essential for key players like us to work together and encourage business creation, thereby strengthening the country’s economic development,</i>” said Marcel Leyers, Member of the BIL Management Board and Chief of Corporate and Institutional Banking of BIL.</p>
<p>By joining forces, nyuko and BIL are helping to enhance an ecosystem favouring the emergence of innovative companies in Luxembourg.</p> | 2/1/2016 10:00:00 AM | EN | Banque Internationale à Luxembourg SA (BIL) and nyuko recently formed a partnership aimed at providing start-ups with the resources they need to develop in Luxembourg. | | |
| BIL sets the tone with den Atelier | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-sets-the-tone-with-den-atelier.aspx | BIL sets the tone with den Atelier | | <p>As a responsible and committed company, over the years BIL has developed a genuine policy in support of art and culture, in particular through its Galerie L’Indépendance, which has become a point of reference in Luxembourg. In addition, with regard to music, it maintains privileged partnerships with various artists and cultural institutions.</p>
<p>Today BIL is taking things a step further by teaming up with den Atelier to be its exclusive sponsor in the banking and financial sector. Den Atelier is an active promoter of contemporary music, with a diversified programme including metal, rock, hip-hop, RnB, electro, jazz, Latin, etc. Den Atelier promotes musical discovery through its holding of concerts by artists of international standing. Numerous groups that are now top acts on the rock scene began their careers in its venue in rue Hollerich, including Muse, Placebo, Faithless and dEUS. Den Atelier is also a promoter, often organising events in other venues such as the Philharmonie as well as the Rockhal, which holds over 6,000 people. Den Atelier usually organises around 100 concerts each year.</p>
<p>Alongside education and innovation, promoting culture and the local creative scene is one of the key components of BIL’s Corporate Social Responsibility (CSR) policy. Employees and clients alike, much like the inhabitants of the Greater Region, are all lovers of culture, and den Atelier has become a vital hub for contemporary music in Luxembourg.</p>
<p>“<i>We are delighted to be launching this new collaboration with a dynamic team and a venue that has become an institution in the Luxembourg music scene over the past 20 years. This brings us closer to a younger audience, always on the lookout for the latest sounds,</i>” commented Sarah Khabirpour, Head of Strategy, Regulatory Affairs and MarCom at BIL.</p> | 1/27/2016 10:00:00 AM | EN | Banque Internationale à Luxembourg SA (BIL) has become a main partner of den Atelier, Luxembourg's legendary contemporary music venue. | | |
