Banque et Caisse d’Epargne de l’Etat
Banque et Caisse d’Epargne de l’Etat (BCEE) has achieved significant growth in earnings thanks to the performance of its retail banking, asset management and international market activities.
It has also undertaken initiatives to keep ahead of competition and improve customer service. An example is the launch of a new version of its online banking system and the constant update of technological solutions to guarantee security and confidentiality to the user.
Products development and innovation also proved to be particularly profitable, ranging from investment solutions providing long-term performance even in prolonged bear markets, to innovative housing loan financial and insurance tools, and products and services targeted at students.
“Founded in 1856, BCEE is the doyen of the country’s financial institutions and Luxembourg’s only true domestic universal bank,” says Jean-Claude Finck, CEO. “It has a strong domestic retail focus and is the main bank for private clients in Luxembourg with important market share mainly in mortgage and consumer loans.
“BCEE also offers a complete range of private banking products and is the main shareholder of a newly created management company Lux Investment Advisors, which is active in fund and portfolio management. Seeking to further economic and social development in the Grand-Duchy of Luxembourg, BCEE will participate with a stake of 19% in a new Luxembourg bank that will mainly concentrate on private banking and mergers and acquisitions activities, starting in mid-2007.”
