BANKS – NO CONCRETE OFFER TO BUY BIL SAYS MINISTER

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keywords: finance, bank, financial security, systemic risk, bil, luxembourg.

Since the revelation by Bloomberg last week of the possible sale of Banque Internationale à Luxembourg (BIL) by its Qatari majority shareholder, rumors are going on about the future of this pillar of the Luxembourg economy. To the point that the national representation questions the Minister of Finance Pierre Gramegna.

The Minister declared on Friday, May 5, that to his knowledge no offer to buy was made on BIL (and in particular the state share) and that in case of shareholder change of a bank, it is the European Central Bank (ECB) that decides on the quality of the new shareholders “in order to guarantee a safe and prudent management of the bank”.

The Banque Internationale à Luxembourg (BIL) is one of the systemic banks of the Luxembourg financial system and as such is the subject of particular attention by the political and financial authorities in terms of its sustainability, stability and autonomy.

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