| BIL announces the appointment of Head of Communications & Branding | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-announces-the-appointment-of-head-of-communications-and-branding.aspx | BIL announces the appointment of Head of Communications & Branding | | <p>Dr De Florio brings extensive experience in strategic communications, public affairs and change leadership across international institutions and industry, where she shaped global communication strategies at the intersection of innovation, policy and organisational change.</p>
<p>Commenting on the appointment, Jeffrey Dentzer, CEO of BIL said:
<br>"<i>BIL carries more than 165 years of history, and we're now stepping into a decisive new chapter. This new role will be key in strengthening how we communicate, how we show up as a brand, and how we support the bank's transformation with clarity, purpose, and the trust that defines us.</i>"</p>
<p>This appointment reflects BIL’s commitment to reinforcing its leadership capabilities and ensuring a coherent, forward-looking approach to communication and brand stewardship in Luxembourg and beyond.</p> | 05-Jan-26 9:00:00 AM | EN | BIL is pleased to announce the appointment of Dr Francesca De Florio as Head of Communications & Branding. | | |
| BIL and COSL renew their partnership in support of Luxembourgish sport | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-and-cosl-renew-their-partnership-in-support-of-luxembourgish-sport.aspx | BIL and COSL renew their partnership in support of Luxembourgish sport | | <p>BIL has been a Gold Partner of COSL since 2023, and an unwavering supporter of the Team Lëtzebuerg athletes in international competitions, such as the recent Games of the Small States of Europe held in Andorra in May 2025, during which Luxembourg won 86 medals. As BIL prepares to celebrate its 170th anniversary, this renewal confirms the Bank’s commitment to supporting the Luxembourg sports movement over the long term and contributing to its influence beyond the country’s borders. </p>
<p>“<i>We are proud to continue this collaboration with COSL. The athletes of Team Lëtzebuerg have given us intense emotional moments during the Games of the Small European States and the Olympic Games. Sport embodies universal values of respect and excellence, and it is a source of inspiration for us in the way we serve our clients and society,</i>” says Jeffrey Dentzer, CEO of BIL. </p>
<p>“<i>COSL is particularly enthusiastic about extending its partnership with BIL until the end of 2028. The core values of BIL and those of COSL are deeply aligned. This collaboration allows COSL to promote access to sport for all, support sporting excellence, and contribute to the strengthening of our society,</i>” emphasizes Michel Knepper, President of COSL.</p>
<p>With this renewal, BIL and COSL reaffirm their shared commitment to supporting Luxembourgish sport and to proudly representing the Grand Duchy’s colors on the international stage.</p>
<p><b>A committed sponsorship policy</b></p>
<p>Le partenariat avec le COSL s’inscrit dans la politique globale de sponsoring de la BIL, qui vise à soutenir des initiatives porteuses de sens pour la société luxembourgeoise. La banque s’engage activement dans quatre domaines clés :</p>
<ul class="list-check">
<li><b>Culture</b>, by facilitating access to artistic events and supporting local creation.</li>
<li><b>Sport</b>, by supporting athletes and encouraging sports practice as a vector of cohesion and health.</li>
<li><b>Education</b>, by supporting educational projects and initiatives that contribute to the development of younger generations.</li>
<li><b>Entrepreneurship</b>, by encouraging innovative projects with a positive impact on the national economy and supporting entrepreneurs.</li>
</ul>
<p>Through these commitments, BIL reaffirms its desire to contribute to Luxembourg’s growth and to strengthen its ties with society.</p>
| 11-Dec-25 8:00:00 AM | EN | BIL and the Luxembourg Olympic and Sports Committee (COSL) are pleased to announce the renewal of their partnership for the next three years. | | |
| Banque Internationale à Luxembourg (BIL) selects Clearstream to Consolidate Fund Execution and Distribution Services | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-selects-clearstream-to-consolidate-fund-execution-and-distribution-services.aspx | Banque Internationale à Luxembourg (BIL) selects Clearstream to Consolidate Fund Execution and Distribution Services | | <p>Through Clearstream’s integrated fund servicing platform, Vestima, BIL will streamline operations across mutual funds, ETFs, and alternative investment vehicles, enhancing efficiency and scalability. Centralizing fund servicing with Clearstream will strengthen BIL’s ability to deliver high-quality services to clients and distribution partners while extending its reach via Clearstream’s broad network of fund distributors and investors.</p>
<p>Clearstream’s fund distribution services will support BIL in broadening market access while maintaining high standards of transparency, compliance, and service excellence.</p>
<p>Both institutions are headquartered in Luxembourg, a globally recognized center for fund administration and cross-border distribution. This collaboration reinforces the country’s role as a leader in fund servicing, regulatory stability, and financial innovation.</p>
<p><b>Isa Scheunpflug, Chief Operating Officer of Banque Internationale à Luxembourg</b> commented:<br>“<i>Partnering with Clearstream is a key milestone in our strategy to grow our investment fund business and expand our distribution footprint. Leveraging Clearstream’s infrastructure allows us to simplify operations, scale efficiently, and reinforce our commitment to Luxembourg as a global hub for fund innovation and cross-border distribution. Through this collaboration, we are able to enhance our client offering through facilitating access to a wider range of investments.</i>”</p>
<p><b>Philippe Seyll, CEO for Clearstream Fund Services</b> added:<br>“<i>We are proud to support BIL. Our shared Luxembourg heritage and global capabilities make this partnership both a natural fit and a powerful enabler of BIL’s strategic ambitions. Together, we are contributing to the continued growth and international reach of Luxembourg’s fund ecosystem</i>”</p> | 04-Nov-25 9:00:00 AM | EN | BIL has chosen Clearstream, Deutsche Börse Group’s post-trade services provider, to consolidate its entire investment fund execution, processing and distribution services. | | |
| Our priority: protecting our clients and protecting the Bank against fraudsters | https://www.bil.com/en/bil-group/pressroom/news/Pages/Our-priority-protecting-our-clients-and-protecting-the-Bank-against-fraudsters.aspx | Our priority: protecting our clients and protecting the Bank against fraudsters | | <p>“<i>We know that behind every fraud case there are victims, some of whom find themselves in great difficulty. We are doing everything we can to support them as best as possible and to prevent these situations from happening again</i>,” commented Jeffrey Dentzer, CEO of BIL.</p>
<p><b>A growing and organized threat</b><br>In 2024, the Grand Ducal Police recorded close to 6,400 cases of fraud in Luxembourg , a number that continues to rise. Fraudsters are increasingly well-organised and they use sophisticated methods: fake websites imitating banks websites, fake invoices, misleading sponsored links on search engines, text messages, phone calls from fake advisors... While security measures are regularly adapted and strengthened and awareness campaigns are multiplying, they still do not prevent clients from falling victim to these fraud attempts.</p>
<p><b>Measures implemented by BIL when a case is detected</b>
<br>For each case detected, the Bank quickly implements a series of measures:</p>
<ul class="list-check">
<li><b>Blocking client accounts:</b> as soon as fraud is detected, BIL blocks the affected accounts, cards, and the LuxTrust certificate.</li>
<li><b>Blocking outgoing funds:</b> the Bank blocks transfers to the fraudsters’ accounts.</li>
<li><b>Funds recall:</b> the Bank contacts the banks to which the money was transferred to recover the funds.</li>
<li><b>Systematic reporting:</b> each fake website is reported to the website hosts and search engines so it can be quickly deactivated.</li>
</ul>
<p><b>When the fund couldn’t be recalled</b>
<br>In some cases, despite all the measures taken, the funds transferred by the fraudsters cannot be recovered because they have already been transferred elsewhere.
In the case of the malvertising campaign that took place in July, for example, three quarters of the transfers attempted by the fraudsters were successfully blocked before execution. We were also able to recall part of the funds that had already been transferred to the fraudsters’ accounts. For other clients, unfortunately, this recall did not work. The money was moved too quickly and was no longer in the account, often abroad, used by the fraudsters.</p>
<p>BIL closely monitors each case. Judicial and banking proceedings are underway. As they involve several jurisdictions and financial institutions, these proceedings will be long and complex, and do not guarantee the recovery of funds.</p>
<p>“<i>We understand that this uncertainty is difficult for victims. That’s why we are doing everything we can to provide rigorous follow-up. We are working closely with the authorities and the Luxembourg financial sector</i>,” added Nicolas Remarck, Head of Cybersecurity.</p>
<p><b>Filing a complaint with the Public Prosecutor</b><br>
BIL, which is also a victim in this matter, has decided to file a complaint with the Public Prosecutor Office of the Luxembourg District Court, while reserving the right to bring a civil case. It is now up to the justice system to conduct its investigation. We have also filed complaints with the foreign banks to which the money was fraudulently transferred to and with the search engine that was the entry point for this attack.</p>
<p><b>Our commitment</b>
<br>Aware of the financial and psychological impact of these frauds on the victims, BIL has launched a review of its fraud case management process in order to:</p>
<ul class="list-check">
<li>Shorten the response time for victims.</li>
<li>Enhance communication and personalised follow-up with clients.</li>
<li>Make the steps clearer and easier for clients to follow.</li>
</ul>
<p>To respond to constantly evolving digital fraud scenarios, BIL is also committed to continue:</p>
<ul class="list-check">
<li>Improving its support to clients.</li>
<li>Raising regularly public awareness on the different fraud scenarios.</li>
<li>Investing in cybersecurity.</li>
</ul>
<p>The fight against fraud is a collective one: it involves banks, judicial and police authorities. It also requires the vigilance of everyone. Protecting our clients against fraudsters is our absolute priority. </p>
<h2 class="title-1" style="margin-bottom:15px;margin-top:30px;">Annexes - How fraud works and how to protect yourself from it</h2>
<p>In recent months, numerous fraud attempts have targeted residents and businesses in Luxembourg. Like other banks, BIL has observed that fraudsters are using increasingly sophisticated techniques to deceive clients: fake websites imitating those of banks, fake invoices, sponsored links on search engines, text messages, calls from fake advisors... The goal of these malicious groups: to trick clients to get their personal data or online banking passcodes, access their bank account and make transfers. </p>
<p>Each case of fraud is specific. While we cannot detail them all, we can try to explain the complexity of the scenarios put in place. Let’s take the example of a malvertising campaign, in other words, an online advertising campaign set up to lure clients to a fake banking website.</p>
<p><b>The stages of a malvertising campaign</b></p>
<p><b>1. Preparatory phase</b></p>
<p>To try to obtain clients’ login details, fraudsters develop and activate a fake website, copying the login page of a bank in every detail. The URL used contains all or part of the name of the targeted company.</p>
<p class="box-message is-info">It is impossible for a company to acquire all domains containing its name. A change of a letter or a punctuation mark is generally used, but the combinations are limitless.</p>
<p>To attract clients to this website, fraudsters set up a sponsored link on search engines to ensure being listed at the top of search results, thereby increasing visibility and luring unsuspecting users to a fraudulent website.</p>
<p><b>2. Materialisation of the fraud</b></p>
<p>On their computer or tablet, the client uses a web browser and a search engine to find the Bank’s website. The client clicks on the sponsored link placed at the top of the results and lands on the fake website.</p>
<p>The client enters their login details on the fake site, which are collected in real time by the fraudsters. Simultaneously, the fraudsters use these credentials and password to log in to the client’s account on the Bank’s real website.</p>
<p>The client, still on the fake website, approves the fraudsters’ login with the LuxTrust Mobile app, thinking they are approving their own connection. The fraudster, now connected to the client’s account, creates a new beneficiary to make a transfer. They prepare the transfer, which must be validated with LuxTrust Mobile.</p>
<p>Meanwhile, the client is still on the fake website. A message tells them that due to a technical problem, they must approve their connection again. The LuxTrust Mobile app presents a new message to the client. This time, the message shows the IBAN of the recipient account and the transaction amount. The client does not read this message and approves the transfer.</p>
<img src="/PublishingImages/site-groupebil/news/lt1.png">
<img src="/PublishingImages/site-groupebil/news/lt2.png">
<p class="box-message is-info">A LuxTrust validation is equivalent to a handwritten signature. While technological advances allow the entry of a code (as was the case with the physical Token) to be replaced by faceID or fingerprint, it remains a validation with legal value.<br>
It is therefore extremely important to be vigilant when you approve an action on LuxTrust and to carefully read the details of this action. If the information is suspicious, cancel the operation and if in doubt, contact the Bank or Worldline immediately.</p>
<p><b>Discovery of the fraud and implementation of protection measures</b></br>
Clients, realizing they have just been victims of fraud, can call BIL at <a href="tel:+35245905000">45 90 5000</a> during opening hours or the Worldline service at <a href="tel:+352491010">49 10 10</a> on evenings and weekends. This number is a service shared by banks in Luxembourg.</p>
<p>After analyzing the situation and the scenario, the Bank and Worldline implement additional protection measures: account blocking, deactivation of the LuxTrust certificate, blocking of transfers to recipient accounts used by fraudsters, reporting of the sponsored link to the search engine and of the fraudulent website to the host, and recalling the funds.</p>
<p><b>Funds recall procedure</b><br>
When the transfers could be stopped directly, the transaction is void and does not impact the client. If the transaction went through, the Bank follows the fund recall procedure, which is quickly and automatically implemented. However, the beneficiary’s institution can take up to 4 weeks to respond. If these attempts succeed, the funds are returned to the clients.</p>
<p><b>How to protect yourself</b><br>
Let’s recall some good practices to prevent fraud:</p>
<ul class="list-check">
<li>Use BIL’s mobile banking app.</li>
<li>If you use a web browser on your computer or tablet, do not use a search engine. Type the full address of the bank’s website yourself, <a href="https://www.bil.com">www.bil.com</a> and save this address in your favorites.</li>
<li>Always check the message from your LuxTrust app to confirm your login or to approve a transaction. This is equivalent to your signature.</li>
<li>Never give your banking credentials to a someone you don’t know. Your bank will never ask for them, neither by email, nor by SMS, nor by phone.</li>
<li>If in doubt, call BIL at <a href="tel:+35245905000">45 90 5000</a> during opening hours or Worldline at <a href="tel:+352491010">49 10 10</a> during evenings and week-ends.</li>
</ul>
<p>We also encourage clients to actively report any fraud attempts (such as phishing emails, fake websites, or suspicious messages) directly to the Bank, so that we can act quickly to protect everyone.</p>
| 09-Sep-25 1:00:00 PM | EN | In light of the recent waves of banking fraud affecting the entire financial sector, Banque Internationale à Luxembourg (BIL) reaffirms its commitment to the fight against cybercrime. | | |
| BIL and LIST launch chatbot evaluation project | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-and-LIST-launch-chatbot-evaluation-project.aspx | BIL and LIST launch chatbot evaluation project | | <p><b>A strategic partnership for responsible AI</b></p>
<p>The joint initiative between LIST and BIL sets out to create a rigorous, science-based methodology and
software platform for the assessment of AI agentic systems. Robust evaluation of AI solutions is essential to
gain both user and customer trust, and to ensure that AI solutions in critical domains such as banking are not
affected by shortfalls in generative AI, such as hallucinations and bias. The project will focus on k ey pillars such
as robustness, fairness (i.e., lack of social bias), and human oversight — characteristics</p>
<p>“Generative AI is already transforming the banking industry” commented Olivier Gorin, Head of Digital Banking
at BIL. “Thanks to our collaboration with the experts from the LIST, we will get invaluable insights on Gen AI
technology. It will help us adapt future services to clients’ needs and improve personalization in a secure and
accurate way. This project is also a prime example of our commitment to a thriving Luxembourg innovation and
financial ecosystem."</p>
<p>The project will make the most of the capabilities of the <a href="https://ai-sandbox.list.lu/" target="_blank">LIST AI Sandbox</a> and further enhance its maturity and
Technology Readiness Level, making it applicable to a broader range of real-world use cases.</p>
<p>“This collaboration is a significant step forward in the evolution of the LIST AI Sandbox,” said Francesco
Ferrero, Head of the Flagship Initiative on Artificial Intelligence at LIST. “It already serves as a platform for
assessing the ethical, linguistic, and technical performance of AI systems. By integrating BIL’s real -world use
cases, we’re enhancing the AI Sandbox’s maturity and applicability in the financial sector —moving closer to a
scalable and market-ready framework for trustworthy AI deployment in mission-critical applications and
regulated industries.”</p>
<p>This project marks the first milestone of a broader collaboration aimed at advancing the responsible adoption of
AI at BIL and across the Luxembourg banking sector. It offers a replicable model for trustworthy AI assessment
and deployment. The initiative reflects both institutions’ commitment to putting trustworthy AI into practice —
ensuring it delivers operational excellence, meets regulatory requirements, and safeguards customer interests.</p>
<p><b>About LIST</b></p>
<p>The Luxembourg Institute of Science and Technology (LIST) is a research and technology organization (RTO) under the supervision of the Ministry of Research and Higher Education, and its mission is to develop competitive and market-oriented prototypes of products and services for public and private stakeholders.</p>
<p>With more than 760 employees, 78% of whom are researchers or innovators from all over the world, LIST is active in the fields of information technology, materials, space resources and the environment, and works across the entire innovation chain, from basic and applied research to technology incubation and transfer.</p>
<p>By transforming scientific knowledge into intelligent technologies, data and tools, LIST:</p>
<ul style="list-style:disc;margin-bottom:25px;">
<li>helps European citizens make informed choices</li>
<li>helps public authorities make decisions</li>
<li>encourages companies to develop</li>
</ul>
<p>For more information about the Luxembourg Institute of Science and Technology, please visit: <a href="https://www.list.lu/" target="_blank">https://www.list.lu</a></p>
| 23-Jul-25 8:00:00 AM | EN | Le Luxembourg Institute of Science and Technology (LIST) et la Banque Internationale à Luxembourg
(BIL) se sont associés dans le cadre d'un projet destinée à examiner et perfectionner des solutions
d’intelligence artificielle appliquées à la relation... | | |
| BIL opens a private banking branch in France | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-opens-a-private-banking-branch-in-France.aspx | BIL opens a private banking branch in France | | <p>A few months in the making, BIL’s French branch is now fully operational. Located in Paris, the branch offers a bespoke range of services to a customer base of private clients and wealthy families, entrepreneurs and family offices domiciled in France.</p>
<p>Staffed by experienced private bankers, the French branch will be headed by Gabriel Bendayan. They will work closely with the BIL private banking and corporate banking teams in Luxembourg to offer financing and investment solutions, and the Bank’s top-notch expertise in wealth planning and international structuring.</p>
<p>Jeffrey Dentzer, CEO of Banque Internationale à Luxembourg, commented:
<br>“<i>It is one of our strategic priorities to expand our international wealth management business. Opening our branch in Paris is an essential stage in our development in France, a key market that we know well and where we can bring considerable added value to our future clients.</i>”</p>
<p>Claude Eyschen, Head of Wealth Management at Banque Internationale à Luxembourg, added:
</p>“<i>Thanks to the close collaboration with our wealth management and corporate finance experts, the French team will be able to offer our new clients our range of customised BIL services. Whether it is to manage their personal wealth or grow their business, our clients will enjoy all the benefits of BIL’s know-how.</i>”</p>
<p>The inauguration of the French branch is an essential piece of BIL’s 2025-2030 strategy which aims to develop its private banking business in several key European markets for which it already has extensive knowledge. </p>
<ul class="list-check">
<li>to step up the services it provides in its commercial banking activities, be it wealth management, corporate and institutional banking, or retail banking;</li>
<li>to enhance customer experience by improving operational efficiency, integrating cutting-edge technologies and offering a wide range of services online;</li>
<li>and to continue supporting the economic development of Luxembourg by acting as a solid bank that can be relied upon by all its clients and partners</li>
</ul>
<p>Discover our services: <a href="https://www.bil.com/static/France/index-en.html">www.bil.fr</a></p> | 02-Jul-25 10:00:00 PM | EN | Banque Internationale à Luxembourg steps up its activities in the French market by setting up a private banking branch in Paris. The local team will be working closely with the group’s centre of expertise in Luxembourg. | | |
| BIL Strengthens its Executive Committee with Key Leadership Appointments | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-Strengthens-its-Executive-Committee-with-Key-Leadership-Appointments.aspx | BIL Strengthens its Executive Committee with Key Leadership Appointments | | <p><b>Isa Scheunpflug, Chief Operating Officer</b></p>
<p>With more than 20 years of experience in global financial services, Isa Scheunpflug brings deep expertise across banking operations in both Asia and Europe. Her career spans a broad range of functions, from strategy and sales to risk management, operations and IT, giving her a holistic, front-to-back expertise of how a bank runs.</p>
<p>Before joining BIL, Isa Scheunpflug was Group Head Automation Office at UBS in Zurich, where she led global efforts to streamline operations, bridge strategy with delivery, and enhance the client experience through smart process innovation. She is widely recognised for her ability to connect people, ideas, and execution. Her knowledge of wealth and asset management, combined with a strong understanding of the day-to-day needs of teams, will play a key role in supporting BIL’s 2025–2030 strategy.</p>
<p><b>Anne-Sophie Dufresne, Head of Corporate and Institutional Banking</b></p>
<p>With 28 years of experience in the banking sector, Anne-Sophie Dufresne has built a solid and recognized background, particularly in the fields of Corporate Banking, as well as in all banking solutions for corporates and institutions.</p>
<p>Prior to joining BIL, Anne-Sophie Dufresne was Head of Corporate Clients, Institutional and Real Estate at BGL BNP Paribas and a member of the Executive Committee. She held various management positions, and successfully led several strategic initiatives in the areas of payments and digital banking for companies. Her in-depth knowledge of the local market and transversal experience are major assets that will support BIL’s commercial growth.</p>
<p><b>Jeffrey Dentzer, CEO</b> of BIL, said:</b></p>
<p>"<i>I am proud and grateful that Isa Scheunpflug and Anne-Sophie Dufresne have chosen to join BIL's Executive Committee. Their trust in our vision is a strong signal. With their complementary talents, we will further empower our clients to shape their future with confidence. Building Tomorrow Together.</i>" </p> | 18-Jun-25 9:00:00 AM | EN | BIL is pleased to announce the appointments of Isa Scheunpflug as Chief Operating Officer and Anne-Sophie Dufresne as Head of Corporate and Institutional Banking. | | |
| Innovative digital payment wallet Wero arrives in Luxembourg | https://www.bil.com/en/bil-group/pressroom/news/Pages/Innovative-digital-payment-wallet-Wero-arrives-in-Luxembourg.aspx | Innovative digital payment wallet Wero arrives in Luxembourg | | <p><a href="https://epicompany.eu/" target="_blank">European Payments Initiative (EPI)</a> the European-grown player committed to offering a sovereign payment alternative to all consumers in Europe, announced today the onboarding of 5 local Luxembourg banks as members, now preparing for the launch of the Wero wallet and instant A2A payment solution. Spuerkeess, BGL BNP Paribas, BIL, POST Luxembourg and Banque Raiffeisen have started their implementation project with the support of LUXHUB, the Fintech acting as a technical service provider to ensure a smooth transition. The solution will be available to Luxembourgish customers by June 2026.</p>
<p><b>Laurent Zahles, CEO of Banque Raiffeisen, commented</b> “<i>Joining EPI and supporting the launch of Wero reflects our commitment to offering secure, innovative and user-friendly payment solutions, tailored to the needs of our customers in an increasingly digital and connected Europe.</i>”</p>
<p>Luxembourgish consumers will have access to EPI’s services via the Wero standalone app, allowing them to make instant account-to-account payments, both within Luxembourg and across borders with Belgium, France, Germany and subsequently the Netherlands.</p>
<p>“<i>Following a successful launch in Germany, France, and Belgium, we are delighted to welcome Wero to Luxembourg. Wero addresses the strategic challenge of creating a European payment platform in a highly competitive global environment. This platform offers customers greater value and simplicity for their everyday payments in Luxembourg and partner countries.</i>”, added, <b>Béatrice Belorgey, Chair of the Executive Committee of BGL BNP Paribas and Head of the BNP Paribas Group entities in Luxembourg</b>.</p>
<p>This roll-out is a great milestone on EPI’s journey to make a single and unified payment solution available to all Europeans a reality, with Luxembourg being the flagship of European cross-border needs (with an international workforce representing nearly 50% of the overall one, according to STATEC). Once deployed, Luxembourg consumers will then be able benefit from all existing payment use cases already available and to be deployed in Wero – peer-to-peer, e-commerce, PoS transactions along with the well-known invoice payments.</p>
<p>“<i>At POST Finance, our primary focus is on payment services, and we are thrilled to introduce Wero in Luxembourg, with EPI as a partner that embodies our values of accessibility, simplicity and transparency with no hidden costs.</i>”, added <b>Gabriel de La Bourdonnaye, Director of POST Finance</b>.</p>
<p><b>Jeffrey Dentzer, CEO of Banque Internationale à Luxembourg said</b>, “<i>BIL takes great pride in its participation in the launch of Wero in Luxembourg. Our ambition is to offer all our client’s cutting-edge digital solutions. With Wero, they will have a European, instant, and secure payment platform right at their fingertips.</i>”</p>
<p><b>A seamless transition from Payconiq to Wero</b></p>
<p>To ensure a smooth and effective rollout of Wero in Luxembourg, EPI is working hand-in-hand with Payconiq following the company’s acquisition back in 2023.</p>
<p>“<i>This partnership with EPI and our fellow Luxembourg banks reflects our shared vision for the future of payments in Europe. Together, we are laying the groundwork for a unified digital wallet that empowers citizens and businesses alike, while reinforcing Luxembourg’s role as a leader in financial innovation.</i>”, said <b>Françoise Thoma, CEO of Spuerkeess</b>.</p>
<p>Starting next year, Wero will progressively be offered to merchants in Luxembourg through its network and will be announced as the replacement of Payconiq to all existing merchants, enabling shops to start accepting Wero payments and gradually migrate their transactions to Wero. With this migration period, merchants in Luxembourg will be able to connect directly and effortlessly with consumers. At the end of the transition period, Payconiq will be replaced by Wero, with an end date set for September 2026.</p>
<p>“<i>Luxembourg is both at the center of Europe and the EPI project as it embodies our need to unify the payment landscape and offer sovereign cross-border solutions. We’re glad to have joined forces with EPI in a partnership that underscores our shared ambition to shape the future of mobile payments in Europe. Together with our partner banks, we’re committed to building on the strong foundations we’ve laid with Payconiq and ensuring continued value for our merchants and customers. We can now offer citizens from Luxembourg, Belgium, France, the Netherlands, Germany and many other European countries that live and work in Luxembourg an open gate to seamless cross-border payment experiences in their daily lives.</i>” comments <b>Stijn Van Brussel, CEO of Payconiq International</b>.</p>
<p>“<i>Opening to Luxembourgish customers is another huge milestone in finally offering a sovereign and easy payment solution to all Europeans. Luxembourg offers an ideal environment to deploy our innovative payment solution Wero. With its advanced financial infrastructure, strong digital adoption, supportive regulatory framework and central position in Europe, it serves as a strategic gateway for us to scale our innovative cross-border instant payment services. Thanks to Payconiq’s local reach and trust from merchants, I’m confident that the roll-out of Wero will be seamless and impactful to bring our promise to reality.</i>” says <b>Martina Weimert, CEO of the European Payments Initiative (EPI)</b>.</p>
<p><b>A new milestone in offering all Europeans a sovereign way to pay</b> This launch builds on the successful debuts of Wero in Germany, France, and Belgium, which kicked off respectively in 2024 as well as the Netherlands, and now counts over 40 million users registered to the Wero service. This new market opening marks a key step forward in Wero’s continued expansion across Europe and reinforces EPI’s ambition: to provide a single, secure digital wallet bringing together all payment functionalities in one payment solution for all Europeans.</p>
<p>This rapid progress will further be driven by the continued expansion of EPI’s member network and ongoing enhancement of Wero’s services. Since early 2025, a growing number of banks, acquirers and technical service providers across Europe have joined the Wero ecosystem by incorporating the solution in their offerings, as Wero prepares for the deployment of new features, including e-commerce payments starting towards the end of the year. In-store payments, subscriptions management or loyalty programs are also on the roadmap from 2026 onwards.</p> | 16-Jun-25 11:00:00 AM | EN | Spuerkeess, BGL BNP Paribas, BIL, POST Luxembourg and Banque Raiffeisen to join EPI as members, enabling their customers to send and receive money with their friends and family instantly using the Wero standalone app. | | |
| BIL renews its support for the Creative Young Entrepreneur Luxembourg | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-renews-its-support-for-the-CYEL.aspx | BIL renews its support for the Creative Young Entrepreneur Luxembourg | | <p>Creative Young Entrepreneur Luxembourg (CYEL) is the flagship event organized by Junior Chamber International Luxembourg. Each year it brings together talented entrepreneurs to pitch their startup to a panel of professionals. The competition rewards the most creative young entrepreneur in Luxembourg. The goal? To promote entrepreneurship and creativity, and to encourage young entrepreneurs in their professional journey.</p>
<p>As the main sponsor of the event since 2020, BIL is firmly committed alongside JCI Luxembourg to support young entrepreneurs in Luxembourg. Supporting entrepreneurship and the Luxembourg economy is embedded in the bank's DNA. Since its creation in 1856, BIL has participated in all major phases of the country's economic development: railways and steel industry in the 19th century, telecommunications, air transport, and financial center in the 20th century, not to mention the numerous small and medium-sized enterprises and creative young entrepreneurs who energize the economic fabric today.</p>
<p><b>Dan Haag, Head of Corporate Banking at BIL commented:</b> “<i>We are proud to renew our support for the Creative Young Entrepreneur Luxembourg. Each year brings its share of young entrepreneurs who are more creative and dynamic than the others. We are eager to discover the candidates for the 2025 edition!</i>”</p>
<p><b>Olivier Theis, CYEL Director, said :</b> “<i>We are honored by the renewed trust that BIL places in us. It is thanks to this support that we can have such an impact. The adventure of this year's edition is just beginning and <a href="https://share-eu1.hsforms.com/1f6sBLVYuQyyA7YM6THT4Ag2e33jc" target="_blank">registrations for the 2025 edition are already open</a>.</i>”</p>
| 06-Jun-25 9:00:00 AM | EN | Luxembourg, June 6, 2025: Banque Internationale à Luxembourg (BIL) is proud to announce the renewal of its support for the Creative Young Entrepreneur Luxembourg (CYEL). | | |
| Waystone To Acquire Leading Luxembourg ManCo, BIL Manage Invest | https://www.bil.com/en/bil-group/pressroom/news/Pages/Waystone-to-acquire-leading-Luxembourg-ManCo-BIL-Manage-Invest.aspx | Waystone To Acquire Leading Luxembourg ManCo, BIL Manage Invest | | <p>Waystone’s acquisition of BIL Manage Invest, a highly respected Luxembourg-based Management Company (ManCo) within the BIL Group, will increase Waystone’s AUM in Luxembourg by approximately 15% and significantly enhance its market position and capabilities across Continental Europe. This acquisition will also support Waystone’s long-term strategic objective of becoming the leading provider of third-party ManCo, alternative administration, and corporate services in Luxembourg, building on their existing rankings as the fastest growing third-party ManCo in Luxembourg and the largest third-party ManCo in Ireland and Authorised Corporate Director in the UK by AUM.</p>
<p>BIL Manage Invest has built a strong reputation for its expertise and client-centric approach in the fund industry. As a well-established ManCo in Luxembourg, it is highly regarded in Continental Europe and will bring to Waystone a wealth of expertise and a long-standing client base.</p>
<p>As part of this acquisition, Waystone will be welcoming 26 new colleagues to its Luxembourg team.</p>
<p><b>Sanjiv Sawhney, Group CEO at Waystone:</b> “<i>This acquisition represents a significant step forward in Waystone’s growth journey. We put clients at the heart of everything we do and by welcoming BIL Manage Invest into Waystone, we will enhance our ability to serve our clients by leveraging our combined expertise, resources and networks. This integration strengthens our presence in Luxembourg, creates exciting opportunities for our people, and further differentiates us as a leading provider of ManCo services in the region. Importantly, it enables us to deliver even greater value to our global client base by offering a broader range of capabilities worldwide.</i>”</p>
<p><b>Denis Harty, Country Head for Continental Europe at Waystone:</b> “<i>Luxembourg continues to play a pivotal role in Waystone’s growth and the acquisition of BIL Manage Invest represents a major milestone in our strategy for Continental Europe. This move builds on the strong foundation we’ve established here and will accelerate our ability to support clients in a market that is both globally significant and rapidly evolving. BIL Manage Invest brings deep local insight and proven operational strength, which will enhance our service offering and expand opportunities for both our clients and our teams. We’re excited to welcome the BIL Manage Invest team to Waystone and to further strengthen our presence in one of the world’s leading fund centres.</i>”</p>
<p><b>Alain Bastin , CEO at BIL Manage Invest, comments:</b> “This marks a new chapter for BIL Manage Invest. By joining Waystone, a leading provider of fund services, we will be ideally positioned to support our clients with enhanced capabilities and global reach. We are confident that this will create long-term value for our clients, employees, and partners.”</p>
<p><b>About Waystone</b></p>
<p>Waystone is a leading provider of institutional governance, administration, risk and compliance services to the asset management industry. Partnering with institutional investors, investment funds and asset managers, Waystone builds, supports and protects investment structures and strategies worldwide. With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone provides its clients with the guidance and tools that allows them to focus on managing their investment goals with confidence.</p> | 07-May-25 1:00:00 PM | EN | Waystone, a leading provider of specialist services to the global asset management industry, has today announced that it is set to acquire BIL Manage Invest from Banque Internationale à Luxembourg (BIL) Group, subject to regulatory approval. | | |
| BIL delivers resilient 2024 performance and reaffirms its long-term vision as a universal bank | https://www.bil.com/en/bil-group/pressroom/news/Pages/BIL-delivers-resilient-2024-performance-and-reaffirms-its-long-term-vision-as-a-universal-bank.aspx | BIL delivers resilient 2024 performance and reaffirms its long-term vision as a universal bank | | <p><b>Key figures for 2024</b></p>
<ul class="list-check">
<li>Assets under Management (AuM) rise to EUR 46.8 billion</li>
<li>Customer deposits reach EUR 18.8 billion</li>
<li>Customer loans exceed EUR 16.2 billion</li>
<li>Total revenues reach EUR 719 million</li>
<li>Expenses decline to EUR 499 million</li>
<li>Net income: EUR 170 million</li>
<li>CET1 ratio rises to 14.25% (after profit allocation)</li>
<li>Liquidity coverage ratio reaches 200%, well above regulatory threshold</li>
</ul>
<p><b>Unpredictable macroeconomic trends in 2024</b></p>
<p>In 2024, economic conditions remained volatile. Geopolitical tensions, fluctuating energy prices contributed to an unpredictable global environment. The European Central Bank (ECB) initiated a gradual decrease of its interest rate in June 2024, after a sudden hike from 0% in July 2022 to an all-time high of 4% in September 2023. Although easing had started, the effect of high rates continued to impact major sectors across Europe and Luxembourg throughout 2024, notably real estate and construction.</p>
<p>At the same time, AI (Artificial Intelligence) gained momentum as a transformative force, adopted by governments and companies to boost productivity and navigate fast-changing technological landscapes. BIL embraces this new technology to adapt and transform its services. Berry, the Bank’s virtual assistant is available to clients on its online banking platform BILnet since May 2024. Powered by AI, Berry can help clients with questions related to credit card status and credit card payments. Its abilities will be progressively enhanced, contributing to the development of BIL’s digital services offering.</p>
<p><b>A resilient performance, 2024 net income of EUR 170 million</b></p>
<p>BIL’s performance in 2024 reflected its resilience in a challenging environment. The global instability and the prevailing interest environment impacted households and businesses. Clients showed increased caution, especially when it came to new investments and borrowing decisions.</p>
<p>Total loan volumes declined slightly to EUR 16.2 billion (from EUR 16.4 billion in 2023), while customer deposits increased to EUR 18.8 billion supported by attractive interest rates and growing demand for more remunerative saving products. Assets under management rose from EUR 43.8 billion in 2023 to EUR 46.8 billion, driven by both new inflows and positive market performance, a clear sign of client trust.</p>
<p>BIL's total revenues reached EUR 719 million, while expenses declined to EUR 499 million. Thanks to its disciplined management of costs, risks and capital, the Bank is financially robust and well capitalized with a Common Equity Tier 1 ratio of 14.25% (after profit allocation) and a Liquidity Coverage ratio of 200%.</p>
<p><b>Building Tomorrow Together</b></p>
<p>With its new 2025-2030 strategic plan, BIL reaffirms its commitment to being a strong, reliable partner for its clients and the broader financial system, rooted in Luxembourg.</p>
<p><b>Looking ahead, BIL aims to:</b></p>
<ul class="list-check">
<li><b>Strengthen its full range of services across Wealth Management, Corporate, Institutional and Retail Banking: </b>
<br>BIL will focus even more on its core businesses and leverage its expertise on its domestic market, Luxembourg, and the greater region. It will also grow its international wealth management activities on selected markets, starting with the opening of a branch in France in 2025.</li>
<li><b>Enhance customer experience:</b>
<br>The Bank will bring its operational efficiency to the next level by leveraging the full potential of its new core banking system and the integration of the latest technologies such as Artificial Intelligence. It will develop its digital offering to enhance customer experience and response time.</li>
<li><b>Support Luxembourg's economic development:</b>
<br>With its healthy balance sheet and careful management of risks, the Bank will have strong capital and liquidity levels to continue financing the development of Luxembourg's economy.</li>
</ul>
<p><b>Jeffrey Dentzer, CEO of BIL commented:</b>
<br>“<i>BIL has been by the side of individuals, families, and entrepreneurs for generations, not just as a bank, but as a partner in their lives and ambitions. Our 2024 results confirm the strength of the strategy we put in place: focused, resilient, anchored in the needs of our clients and anticipating the future. We will continue to work relentlessly to support them, to stay the bank they can rely on, today and tomorrow</i>”.</p>
<ul class="list-brochure">
<li>
<a class="sub-link" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/BIL_Annual_report_2024.pdf" target="_blank">
<span class="sub-visual"><img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/brochures/bil-ra2024.jpg?renditionID=6" alt=""></span>
<span class="sub-title">Annual Report 2024</span>
</a>
</li>
</ul>
| 24-Apr-25 12:00:00 PM | EN | Banque Internationale à Luxembourg (BIL) today announced its 2024 financial results. | | |
| Governance changes at BIL: Marcel Leyers appointed Chair of the Board and Jeffrey Dentzer CEO | https://www.bil.com/en/bil-group/pressroom/news/Pages/Governance-changes-at-BIL.aspx | Governance changes at BIL: Marcel Leyers appointed Chair of the Board and Jeffrey Dentzer CEO | | <p>Marcel Leyers, CEO of BIL since May 2019, retired from executive management and is appointed Chair of the Board of Directors. He takes over from Jing Li, Legend Holdings, Chair ad interim since March 2023 who becomes Vice-Chair of the Board of Directors. <br>
Marcel Leyers joined BIL in 1983. After a few years as a relationship manager in the retail banking activity, Leyers developed a deep interest for businesses, entrepreneurs and corporations. He became the Head of Corporate and Institutional Banking (CIB) in 2011, joined the Executive committee in 2013, to become the CEO of the Bank in 2019.
</p>
<p>To replace Marcel Leyers at the helm of the Bank, Jeffrey Dentzer, Deputy CEO since 1 January 2024, is appointed CEO.
Before this role, Dentzer 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.
</p>
<p>Since 1 January 2024, Marcel Leyers and Jeffrey Dentzer worked hand in hand to ensure a smooth transition at the head of the Bank. As its strategic plan Energize Create Together 2025 comes to a close, the Bank is working on a new strategic plan centered on its clients and its commitment to bringing a continued support to the economy. </p>
<p><strong>Jing Li, Vice Chair of the Board of Directors representing Legend Holdings, commented:</strong><br>
“As CEO of BIL, Marcel Leyers guided the Bank successfully through the pandemic and a major IT transformation project. I would like to thank him for the tremendous work done. As he is stepping down as CEO, Jeffrey Dentzer is the perfect person to lead the Bank in the new chapter of its sustainable growth story, together with the Executive Committee and all BIL staff. The expertise, experience and insights that both bring to the Bank are invaluable, and I wish them success.”
</p>
<p><strong>Marcel Leyers, Chair of the Board of Directors and former CEO commented:</strong><br>
“This change in leadership has been carefully prepared. With Jeffrey Dentzer, I am confident we have the right person to lead BIL towards its next success chapters and to overcome the many challenges that no doubt will arise. He has demonstrated a deep knowledge of all our businesses and his ability to steer the teams in the right direction.”
</p>
<p><strong>Jeffrey Dentzer, CEO of BIL commented:</strong><br>
“I would like to thank the Board of Directors, the Executive Committee and all staff of the Bank for their trust. I look forward to working together to bring our clients excellent services and products that will support them in their projects and contribute to the development of Luxembourg’s economy.”
</p> | 22-May-24 6:00:00 AM | EN | Le Conseil d’administration de la Banque Internationale à Luxembourg (BIL) a nommé Marcel Leyers Président du Conseil d’administration et Jeffrey Dentzer Président du Comité exécutif. | | |
| 2023, a year of transition and transformation | https://www.bil.com/en/bil-group/pressroom/news/Pages/2023-a-year-of-transition-and-transformation.aspx | 2023, a year of transition and transformation | | <p><strong>Staying resilient in a challenging macroeconomic context</strong><br/>
2023 was a complex year, be it for its geopolitical challenges, macroeconomic events or for BIL specific development. After the robust post-pandemic expansion in 2021 and 2022, the economy lost momentum in 2023. Europe faced multiple macroeconomic challenges, induced by on-going conflict in Eastern Europe and in the Middle East. The rate hike campaigns launched in 2022 by monetary authorities to curb inflation reached a peak during the second half of 2023. In the eurozone, higher interest rates had the effect of reducing the financing capacity of households and businesses, thus contributing to the slowdown of economic activity. In Luxembourg, construction has been affected by the current downturn in the real estate sector and as a consequence, slowed down lending activity. In such a challenging environment, the Bank is committed to support its clients and to offer adapted solutions to their projects and situation. </p>
<p><strong>Implementation of a new core banking system to enhance services</strong><br/>
In this ever-changing business environment, BIL has risen to these external challenges by staying on track of its transformation and, embracing emerging trends, new technologies and evolving market dynamics to build long-term sustainable growth. In 2023, BIL successfully completed the changeover of its Core Banking System, a project of unprecedented scale, while continuing to cater to clients’ needs. BIL has now a strong foundation to develop new services and to improve client experience for the years to come. </p>
<p><strong>Sound performance of commercial activities </strong><br/>
BIL Group reported a net income after tax of 202 million euros, driven by solid revenue growth, partly offset by an increase in expenses and cost of risk. This good financial performance can be attributed to the Bank’s business resilience and a solid risk management culture. Customer deposits, standing at 18.5 billion euros decreased mainly due to clients moving their deposits to higher return investments and proceeding to the early repayment of their variable rate loans in the context of higher interest rates. Customer loans, at 16.3 billion euros are stable compared to last year, due to the combined effect of a significant slowdown in mortgage loan production in Luxembourg and early mortgage loan repayments which continued throughout the second half of 2023. In the past year, domestic market housing demand has been hard hit by rapidly rising interest rates, coupled with a sharp reduction in construction activity caused by the downturn in the real estate sector and rising raw material costs. Assets under Management amounted to EUR 43.8 billion compared with EUR 43.5 billion at year-end 2022, up by +0.7%.
At the end of 2023, BIL showcased sound asset quality and strong capital and liquidity indicators. Its CET- 1 ratio stood at 14.41% after profit allocation compared with 14.03% in 2022, and its Liquidity Coverage Ratio also improved compared to 2022, at 174% versus 153%.
</p>
<p><strong>2024, ready for the future</strong><br/>
As the global economy is changing rapidly, in 2024, BIL's primary focus will be on its clients: fostering robust relationships, reaching a higher level of quality of service and constantly adapting the value proposition to their needs.<br/>
The Bank will remain focused on the implementation of the key initiatives of its 2020-2025 strategic plan, whose purpose is to be fit for the future: </p>
<ul style=" list-style: disc;
margin-bottom: 35px;"><li>By continuing to enhance its diversified business model .</li>
<li>By leveraging its new Core Banking System to drive future growth. This solid foundation will allow the Bank to develop new and improved services, combining the best of digital and physical.</li>
<li>By strengthening and simplifying its operations. Thanks to its new target operating model, BIL will create a robust and dynamic bank ready to face the future with confidence</li></ul>
<p>Marcel Leyers, CEO of BIL, commented: " Our 2023 performance confirms 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. In 2024 and for the years to come, BIL will continue to be the reliable partner it has always been.”</p>
<p>BIL’s annual report is available <a href="https://www.bil.com/Documents/brochures/annual-report-2023-en.pdf" target="_blank">here</a></p> | 24-Apr-24 12:00:00 PM | EN | During the General Assembly held on April 24 2024, shareholders approved Banque Internationale à Luxembourg (BIL) 2023 financial results. | | |
| 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> | 07-Mar-24 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> | 11-Jan-24 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>
| 21-Nov-23 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> | 05-Oct-23 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> | 04-Sep-23 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> | 10-May-23 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> | 30-Mar-23 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> | 16-Mar-23 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> | 13-Mar-23 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> | 19-Dec-22 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="https://www.cancer.lu" target="_blank">www.cancer.lu</a></li>
<li>Fondation Kriibskrank Kanner <a href="https://www.fondatioun.lu" target="_blank">www.fondatioun.lu</a></li>
<li>Fondation Autisme Luxembourg <a href="https://www.fal.lu" target="_blank">www.fal.lu</a></li>
<li>Télévie <a href="https://www.televie.rtl.lu" target="_blank">www.televie.rtl.lu</a></li>
<li>ALAN – maladies Rares Luxembourg <a href="https://www.alan.lu" target="_blank">www.alan.lu</a></li>
<li>ELA Luxembourg <a href="https://www.ela-asso.lu" target="_blank">www.ela-asso.lu</a></li>
<li>Médecins du monde <a href="https://www.medecinsdumonde.lu" target="_blank">www.medecinsdumonde.lu</a></li>
<li>Île aux clowns <a href="https://www.ileauxclowns.lu/" target="_blank">www.ileauxclowns.lu/</a></li>
<li>La Main tendue <a href="https://www.lamaintendue.lu/" target="_blank">www.lamaintendue.lu/</a></li>
<li>Chiens guide d’aveugles <a href="https://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> | 06-Dec-22 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>
| 05-Dec-22 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> | 14-Oct-22 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> | 16-May-22 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>
| 06-May-22 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> | 31-Mar-22 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> | 03-Mar-22 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>
| 08-Feb-22 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> | 05-Jan-22 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>
| 25-Nov-21 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> | 04-Nov-21 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> | 28-Oct-21 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> | 12-Oct-21 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> | 16-Sep-21 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> | 21-Jun-21 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> | 17-Jun-21 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> | 16-Jun-21 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> | 29-Apr-21 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>
| 04-Mar-21 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> | 19-Jan-21 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. | | |
| 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>
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<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> | 02-Jul-18 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. | | |
