# Banque de Luxembourg: the cooperative private bank with no entry threshold

> Banque de Luxembourg — the Crédit Mutuel-CIC private bank with €128bn of client assets: booking in Luxembourg and Belgium, entry without a formal minimum, FGDL protection and B Corp status.

Last modified: 2026-10-19T00:00:00.000Z
Canonical: https://wiki.private.law/en/banque-de-luxembourg
Publisher: wiki.private.law (https://wiki.private.law)
Version: 192b4c41c84c57e9d6d5cc364f719014a975ddd2b508defe4c5fa5be0954edbd
Cite as: Banque de Luxembourg: the cooperative private bank with no entry threshold. wiki.private.law. https://wiki.private.law/en/banque-de-luxembourg. Version 192b4c41c84c57e9d6d5cc364f719014a975ddd2b508defe4c5fa5be0954edbd.
Topics: banking
Jurisdictions: luxembourg, belgium
Functional tags: private-banking
Product tags: bank, wealth-planning, investment, custody, lombard-credit, family-office
Semantic tags: private-banking, bank, wealth-planning, investment, custody, lombard-credit, family-office

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## Concept

**Banque de Luxembourg S.A.** is a Luxembourg private bank wholly owned by [Crédit Industriel et Commercial (CIC)](https://www.banquedeluxembourg.com/en/bank/bl/our-bank/shareholders-equity-interests) inside the mutualist Crédit Mutuel Alliance Fédérale group. **Type**: a private bank of a cooperative group, unlisted. Its roots go back to 1920; it has carried the current name since 1977. In spring 2026 the bank changed leaders for the first time in 26 years: Pierre Ahlborn was succeeded as CEO by [Livia Moretti](https://www.banquedeluxembourg.com/en/bank/bl/blog/-/blogpost/a-new-leadership-chapter-for-banque-de-luxembourg-in-2026) (formerly of the CSSF and the ECB, previously CEO of sister bank Banque CIC Suisse). The bank has been a certified B Corp since 2023.

## History and evolution

It began as the Luxembourg presence of the Banque d'Alsace et de Lorraine (1920); Deutsche Bank Luxembourg entered the capital in 1977 and the bank became Banque de Luxembourg; in 2002 Deutsche Bank sold its 28.95% to the CIC group, making the bank a wholly-owned Crédit Mutuel-CIC subsidiary. A Belgian branch opened in 2010; the stake in European Fund Administration was sold in 2022; the fund line is run by subsidiary BLI – Banque de Luxembourg Investments (€11.8bn under management at mid-2026) with the Conventum TPS brand for third-party funds.

Client assets stood at [€128bn at end-2025](https://www.banquedeluxembourg.com/en/bank/bl/our-bank/key-figures), with net profit of €83.4m; the solvency ratio is 23.56% with more than 1,070 staff.

> 🍓 Deposits are covered by the [FGDL: €100,000 per depositor](https://www.fgdl.lu/en/deposit-guarantee/) with a 7-working-day payout and protection of temporary high balances up to €2.5m; the Belgian branch is covered by the same Luxembourg scheme. SIIL investor compensation runs to €20,000. Custody securities remain the client's property.

## Regulation

- **ECB / CSSF** — Banque de Luxembourg S.A., Luxembourg (14, boulevard Royal);
- **FSMA** — registration of the Belgian branch (Brussels and Sint-Martens-Latem, since 2010) as a branch of a bank of another EEA state;
- French clients are served from Luxembourg via a dedicated desk — there is no French entity.
## Source of funds and compliance

Onboarding runs through a named adviser; the standard [source-of-funds and source-of-wealth](https://wiki.private.law/source-of-funds) file applies, plus CRS/FATCA; digital channels via LuxTrust (Luxembourg) and itsme (Belgium). No CSSF sanction naming the bank was found in public registers — unlike several Luxembourg peers, the bank passed 2020–2026 without public enforcement.

> 💡 Prepare the source-of-wealth file in advance: sale of a business, dividends, inheritance. The review mechanics are covered in the guide on [documenting source of funds](https://wiki.private.law/source-of-funds).

## Who it serves

- **Residents of Luxembourg and Belgium**: the bank deliberately sets no formal minimum — its head of private banking publicly welcomes even five-figure sums;
- **non-residents from other countries** — via the "Germany", "Europe" and "Other countries" portals; the ticket for private-equity access is officially from €250,000;
- **entrepreneurs** — business financing, cash management and family-business succession, Next Gen programmes;
- **professional clients** — the Asset Servicing line: fund custody, fund launch support, services for external asset managers and insurers.
## Services

### Wealth management

- discretionary management (the majority format), advisory and execution;
- BLI funds and ESG mandates; private equity with partners (ticket from €250,000);
- philanthropy and estate planning.
### Lending

- [portfolio-backed lending](https://wiki.private.law/lombard-lending) with structuring — the bank itself names this a differentiator from Swiss rivals;
- business financing for entrepreneurs.
### Asset servicing

- fund custody and central administration (including alternatives), a dealing room;
- services for [external asset managers](https://wiki.private.law/eam-external-asset-manager) and insurance companies.
## Entities and booking centres

A compact map: Luxembourg plus one branch.

| Jurisdiction | Legal entity | Format and supervisor | Role for the client |
| --- | --- | --- | --- |
| Luxembourg | Banque de Luxembourg S.A. | parent bank, ECB/CSSF | booking centre for residents and non-residents |
| Belgium | Banque de Luxembourg branch (Brussels, Sint-Martens-Latem) | branch of an EEA bank, FSMA-registered (since 2010) | Belgian home market; FGDL deposit cover |
| France | — | served from Luxembourg | French desk without a local entity |

Subsidiary BLI and the Conventum TPS brand operate from Luxembourg; the bank keeps no other offices.

## Strengths

- backing of the mutualist Crédit Mutuel-CM11 group — no stock-market pressure;
- a rare entry policy: no formal minimum for Luxembourg residents;
- a strong fund line (BLI, Conventum TPS) alongside the private bank;
- a clean supervisory record and B Corp status;
- a 23.56% solvency ratio.
## Where it does not fit

- clients needing booking beyond Luxembourg and Belgium — no other centres exist;
- those wanting an English-language international hub in the Geneva or Singapore format;
- private-equity investors below the €250,000 ticket;
- clients looking for listed-company reporting: the group is mutualist and the bank publishes no market quotes.
Banque de Luxembourg is a quiet cooperative house: a compact map (Luxembourg + Belgium), strong fund infrastructure and an unusually soft entry threshold for residents, under full Crédit Mutuel-CIC ownership.

## Q/A

### Entry and geography

### What minimum capital does Banque de Luxembourg require?

For Luxembourg residents there is no formal minimum — the bank publicly confirms it welcomes even five-figure sums. Private-equity funds carry a product ticket from €250,000. For non-residents no hard threshold is published; the adviser decides based on the client profile.

### Does the bank serve clients outside Luxembourg?

Yes: it runs a Belgian branch (Brussels and Flanders) and dedicated desks for Germany, France and other countries — served from Luxembourg. Branch deposits are covered by the same Luxembourg FGDL scheme.

### What does the deposit guarantee cover?

FGDL — €100,000 per depositor with a 7-working-day payout and protection of temporary high balances up to €2.5m; SIIL investor compensation up to €20,000. Custody securities are segregated and returned to the owner.

### Owner and strategy

### Who owns the bank and why does it matter?

It is 100% owned by CIC within Crédit Mutuel Alliance Fédérale — a cooperative group with no stock market. For clients this means decisions without quarterly pressure and a conservative policy; the trade-off is a smaller international map than listed rivals.

### What did the 2026 CEO change bring?

Pierre Ahlborn, who had led the bank since 2000, was succeeded by Livia Moretti — formerly of the CSSF and the ECB, arriving from Banque CIC Suisse. It is only the third leadership transition since World War II; the bank declared continuity: three client segments, digital tools, and growth of the fund line.

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