BANK LUXEMBOURG – ABLV BANK LUXEMBOURG OFFICIALLY FAILING

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keywords: bankruptcy bank, deposit security guarantee, fgdl deposit guarantee fund luxembourg. It is official since this Sunday 25 February 2018, the Deposit Guarantee Fund Luxembourg (FGDL) is officially activated to protect the depositors of the Luxembourg branch of the bank ABLV, a bank from Latvia. As of today the depositors of ABLV Bank Luxembourg are protected up to 100,000 euros per person, regardless of their country of origin or nationality. Subject to providing the FGDL with a bank account number of a bank other than ABLV Bank Luxembourg, the Deposit…

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BANKS LUXEMBOURG – BIL OFFICIALLY BOUGHT BY CHINESE GROUP

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keywords: banque internationale, bank finance luxembourg, legend group, luxembourg. For months, close persons with the matter have informed the press (Bloomberg and Washington Post) that the Chinese holding company Legend Holdings Corporation (owner of Lenovo) has bought 90% of the Banque Internationale à Luxembourg (BIL), it is now the Minister of Finance in person who confirms the information. While the amoun of the transaction has not yet been disclosed, Minister Gramegna also specifies in a statement on Friday that BIL being a systemic bank the transaction will have to be…

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