Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.


Hugues Delcourt - CEO, Groupe BIL
Hugues Delcourt – CEO, Groupe BIL

Banque Internationale à Luxembourg (BIL) and KBL European Private Bankers (KBL epb) announced the signing of two agreements regarding their private banking operations in Switzerland and Belgium.

Under the terms of the first agreement, BIL (Suisse) SA will acquire KBL (Switzerland) Ltd, a wholly owned affiliate of KBL epb, as part of the BIL Group’s strategic focus on major international private banking centers. The transaction will strengthen BIL’s existing Swiss operations and create a sizeable private bank, operating from Geneva, Lugano and Zurich.

Under the terms of the second agreement, PuilaetcoDewaay, the Belgian affiliate of KBL epb, will acquire the business of BIL Belgique, BIL’s recently launched private banking operations in that country.

As part of these agreements, KBL epb clients will have access to BIL’s Swiss booking center, while BIL clients will be able to book assets in Belgium through PuilaetcoDewaay.

The transactions, which are subject to regulatory approvals, are expected to close by the end of the first half of 2015. The terms of these transactions were not disclosed, but they were negotiated on an “arm’s-length” basis.

BIL and KBL epb clarified that, with the exception of these transactions, each banking group will continue to operate its own successful independent business in Luxembourg and elsewhere.

Highlighting the importance of the acquisition of KBL (Switzerland) Ltd, HuguesDelcourt, CEO of BIL Group, said: “Private banking is changing, and these new dynamics create significant opportunities for us to grow and better support our clients. We already have an international footprint and the range of capabilities that individuals and their advisors seek. This transaction means we can offer greater scale, resources and services to our clients in Switzerland.”

Delcourt added: “BIL has a longstanding presence in Switzerland, which has always been the most important office and booking center outside Luxembourg and we look forward to investing further in the success of this operation and potential other transactions in Switzerland. With regards to Belgium, we believe PuilaetcoDewaay is ideally placed to serve Belgian residents looking for a domestic solution. We will work closely with them to ensure a smooth handover.”

Yves Stein - Group CEO, KBL epb
Yves Stein – Group CEO, KBL epb

Yves Stein, Group CEO of KBL epb, said: “In line with our long-term growth strategy, first announced in early 2013, we remain committed to operating in those markets across our existing footprint where we have the critical mass required to ensure sustainable growth and profitability.

“As KBL epb’s presence in Switzerland is not at such scale, we are pleased to seize the opportunity with BIL to merge these two operations – offering an enhanced future perspective for relevant clients, staff and other stakeholders.

“Moving forward, we will continue to implement our M&A strategy, guided by the strategic priority to establish a leading presence – with sufficient scale to ensure sustainability – in every market in which we operate.”

Stein concluded: “In that regard, Belgium is in many ways a model for our group. Indeed, thanks to both strong organic and inorganic growth, PuilaetcoDewaay is extremely well positioned for the future – even more so following this agreement with BIL Belgique.”