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BIL PENSION PENSION<div class="section-banner-item-inner" data-serialswipe-fx="zoomin"> <h4 class="section-banner-title">Are you willing to accept a lower quality of life when you retire?</h4> <p>Plan for your retirement now with BIL Pension to supplement your state pension and enjoy tax benefits.</p> <p><a class="section-banner-button" href="/static/2017/11-bilpension/index-en.html?utm_source=BIL-COM&utm_medium=HP_PARTICULIER_EN&utm_campaign=BIL_PENSION">Find out more</a></p> </div>
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Legend Holdings to acquire Precision Capital's stake in Banque Internationale à Luxembourg Holdings to acquire Precision Capital's stake in Banque Internationale à Luxembourg <p>Legend Holdings Corp., a Hong Kong-listed diversified investment group, announced today the signing of an agreement with Precision Capital, a Luxembourg-based financial holding company, for the acquisition of Precision Capital’s 89.936% stake in Banque Internationale à Luxembourg (BIL), a leading universal banking group headquartered in Luxembourg.</p> <p>The proposed transaction remains subject to ECB/CSSF approval and that of other regulatory authorities. It also remains subject to Legend Holdings shareholder approval. The Grand Duchy of Luxembourg will retain its 9.993% ownership of BIL. </p> <p>Legend Holdings, founded in 1984, is a leading diversified investment group. Its strategic investments focus on several major sectors including financial services, innovative consumer services, agriculture and food, and IT. As at 31 December 2016, the company had assets of €43.92 billion, annual revenues in excess of €40 billion and close to 70,000 employees worldwide. Lenovo Group, one of its portfolio companies, was founded by Legend Holdings in 1984 and is now one of the world’s leading vendors of personal computers. Lenovo successfully acquired IBM’s global PC business in 2004, subsequently investing and growing the brand into a global leader. </p> <p>The acquisition of 89.936% of BIL represents a long-term strategic investment for Legend Holdings. The company is committed to providing the financial and operational support to maintain and grow the BIL brand domestically and internationally, further enhance its customer offering and support existing management in the delivery of its strategy to achieve sustainable growth. </p> <p>As part of the proposed transaction, Legend Holdings will: </p> <ul class="list-check"> <li>Maintain and invest further in the development of the BIL brand, in Luxembourg, Europe and internationally </li> <li>Invest in BIL’s people, support employment and provide international career opportunities</li> <li>Retain the current governance and management of the bank: Luc Frieden will remain BIL Chairman, while Hugues Delcourt will remain CEO </li> </ul> <p>Precision Capital, along with the Grand Duchy of Luxembourg, acquired BIL in 2012 at a time when the previous shareholder faced significant financial stress. Precision Capital and BIL have since overseen a turnaround of the bank following an in-depth strategic review, having made significant investments in the bank and its brand. </p> <p>Since 2012, the management team has grown operating revenue by 20% to €505 million in 2016, while operating profit has risen 57% to €124 million. Over the same period, total assets have increased to €23 billion, total loans to customers are up by 27% to €12.2 billion and assets under management have grown by 30% to €37.7 billion. The bank’s capital strength has been bolstered over this time, reaching a Common Equity Tier-1 ratio of 13.4% at end 2016 – up from 10% in 2012. </p> <p><b>Commenting on the announcement, Liu Chuanzhi, Founder and Chairman of Legend Holdings, said: </b> <em>“This is an important and exciting strategic investment for Legend. Financial services is one of Legend Holdings’ key target industries. BIL’s asset scale, revenue and profit growth potential, and its business stability meet Legend’s pillar assets criteria. It affirms Legend’s target of investing in pillar assets. </em> </p> <p> <em> “Legend Holdings has accumulated extensive experience in the financial services industry, and has achieved a solid performance in the sector over the past years. BIL is a well-run and respected universal banking group with strong roots in Luxembourg’s history. We aim to preserve and enhance this status, supporting the bank and its existing management team in growing BIL from a national champion to a Luxembourg-based, international banking brand. We believe that as a long-term strategic shareholder, Legend can add value to the international business development opportunities and application of financial technology of the bank, and realize our mission of building great companies. </em> </p> <p> <em> “We would like to thank Precision Capital, the Luxembourg State and the BIL management team for their support. We look forward to working closely with Luxembourg State and the bank in the years ahead.” </em> </p> <p><b>Luc Frieden, Chairman of BIL, said: </b><em>"Thanks to strategic measures taken since 2012 – with the support of Precision Capital, the Luxembourg State, our employees and our clients – BIL has successfully regained its status as a leading Luxembourg financial institution. </em></p> <p><em>“We welcome our new shareholder, who has a proven track record of successful investment in a range of companies and have demonstrated great sensitivity to what makes BIL unique. We look forward to working with the Legend Holdings team to build on BIL’s tradition of excellence that dates back to 1856 as a strong, stable and innovative Luxembourg universal bank. While clients and staff will experience full continuity, we will also have an opportunity to further strengthen BIL's exceptional place in the Luxembourg economy, while enhancing its European and international ambitions. </em></p> <p><em> I am proud to chair this great Luxembourg bank as we prepare to write the next chapter in BIL’s success story,” </em> Frieden added. </p> <p><b>George Nasra, CEO of Precision Capital, said: </b><em>“BIL has made tremendous progress in the past five years. The business is in great shape and boasts an exceptionally strong brand, supported by an experienced management team and over 2,000 committed employees in Luxembourg and abroad. Legend Holdings is the right partner for BIL as it moves into its next phase of its sustained growth and expansion.” </em> </p> <p>Nasra noted that Precision Capital’s only other investment – its 99.9% ownership of KBL European Private Bankers (KBL epb), a pan-European private banking group headquartered in Luxembourg – will not be impacted by the agreement with Legend Holdings. <em> “We remain committed to supporting the long-term stability and growth of KBL epb,” </em> Nasra concluded. </p> <p>The proposed transaction is expected to close in the first quarter of 2018, subject to approval from the European Central Bank, the Commission de Surveillance du Secteur Financier and other relevant regulatory authorities. The acquisition entity is Beyond Leap Limited, a wholly owned subsidiary of Legend Holdings incorporated in Hong Kong. </p> 9/1/2017 1:00:00 PM
BIL IMMOindex: the housing market is more buoyant than ever IMMOindex: the housing market is more buoyant than ever<div class="grid-adaptive small clear-div"> <div class="sub-column-50"> <div class="grid-youtube"> <iframe width="560" height="315" src="" frameborder="0" allowfullscreen=""></iframe> </div> </div> <div class="sub-column-50"> <img src="{%BIL_Internet_Root_URL_Luxembourg%}/PublishingImages/site-groupebil/news/immoindex-graph-en.jpg"> </div> </div> <p>The BIL IMMO<i>index</i> increased from +1.58 in the second quarter of 2016 to +1.80<sup>1</sup> in Q4. At +0.87 in Q4 2015, it more than doubled in a year. This rise reflects a nationwide housing market rally begun at the start of 2016 and continued throughout the year, slightly gaining momentum in the process. <br>The reasons for the renewed rise in the index include a sustained climb in housing prices (+7.7% between Q4 2015 and Q4 2016), the credit boom (+25.4% increase in the volume of mortgage loans compared to end-2015) and, to a lesser extent, a robust construction sector (+5.7% year-on-year growth in Q4 2016).</p> <p>“<i>The index more than doubled between end-2015 and end-2016, powered by rising housing prices and the credit boom. Although it is on the verge of overheating, the market’s ascent is underpinned by solid fundamentals: a growing population and a robust national economy. An increase on the supply side, rather than a decrease in demand, would serve to slow the rise and help move the IMMO<i>index</i> closer to an equilibrium,</i>” explains Marcel Leyers, Chief of Corporate and Institutional Banking at BIL.</p> <p>Launched in October 2015 and developed by BIL in partnership with PwC Luxembourg, the BIL IMMO<i>index</i> is an indicator of housing market trends in Luxembourg for professional, institutional and retail investors.</p> <p>Updated regularly and published every six months, the index is based on price changes on the selling and rental markets, as well as factors underlying supply and demand such as the national economy, construction activity and demographic change. A total of seven ratios are integrated to produce the BIL IMMO<i>index</i>, a clear indicator that gives an overview of Luxembourg housing market in the last 35 years.</p> <p>The complete analysis for each region of Luxembourg is available at <a href="{%BIL_Internet_Root_URL_Luxembourg%}/immoindex/index-en.html"></a>.</p> <p><small><sup>1</sup>The index runs on a scale of -3 to +3 and reads the temperature of the market. At +3, the maximum level, the market is thought to be “overheating”. At the other end of the scale, a negative index means that the market is lacklustre, and a level of -3 indicates a stagnant, “frozen” market.</small></p>7/18/2017 11:00:00 AM
#WBMY17: two winners share the innovation award! two winners share the innovation award!<p>As the highlight of the Woman Business Manager of the Year competition, the Innovation Award ceremony brought together nearly 200 people at Banque Internationale à Luxembourg's Route d'Esch headquarters on Thursday, 27 April. Five projects, and five exceptional women, were honoured: Travelsify (Alexandra Fernandez-Ramos), Kliber (Nathalie Dondelinger), Supermiro (eLfy Pins), Largowind (Mathilde Argaud) and MyScienceWork (Virginie Simon).</p> <p>The mixed-gender panel of judges, composed of representatives from BIL, the Luxembourg Business Association (UEL), the National Institute for Sustainable Development and Corporate Social Responsibility (INDR), nyuko and Technoport, selected the winners from among 25 applicants, and invited them to present their projects. Owing to the quality of the short-listed projects, the panel reached the extraordinary decision to award two businesswomen: Alexandra Fernandez-Ramos (Travelsify) and Nathalie Dondelinger (Kliber).</p> <p><a href="" target="_blank">Travelsify</a>, a start-up launched in 2016, serves the tourism industry. Its algorithm ranks hotels around the world based on client comments instead of on ratings. <a href="" target="_blank">Kliber</a>, launched in 2015, is a recruitment application that puts employers in contact with applicants through videos.</p> <p>“<i>Competition was fierce in 2017. It was not easy to choose the five winning projects, because they are all based on excellent initiatives and the women behind them are all so talented. This competition shows the vibrancy of female entrepreneurship in Luxembourg and goes against the popular misconception that innovative companies are a man's world</i>", said Marcel Leyers, Chief of Corporate and Institutional Banking at BIL.</p> <p>Nicolas Henckes concluded the ceremony by congratulating all those who entered the competition, and calling for more women to start their own businesses in Luxembourg. UEL's Secretary General emphasised the role of parents in encouraging their children, especially girls, to develop their entrepreneurial spirit.</p> <p>Since 2006, the Woman Business Manager of the Year competition showcases exceptional women whose talent and energy are helping to drive Luxembourg's economy. To be eligible for the contest, projects must use an innovative approach or technology and have a positive impact on the Luxembourgish economy. The latter has been a guiding principle of the competition since its inception.</p>4/28/2017 10:00:00 AM



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