The story
The BAL opened its Luxembourg branch on 23 June 1920 at No. 6 Groussgaass, the main thoroughfare of the Ville Haute in Luxembourg. In 1928, it participated through that branch in the creation of the Luxembourg Stock Exchange, and in 1939, its successor CIAL Luxembourg was a founding member of the Association des Banques et Banquiers Luxembourg (ABBL).
In 1937, the Banque Mathieu Frères was founded as a family bank, by brothers Ambroise Jacques Mathieu and Marie-Eugène Mathieu.
During World War II, CIAL's operations in German-annexed Luxembourg were integrated into the Banque Générale du Luxembourg, the former local affiliate of the Société Générale de Belgique which had been forcibly transferred to Deutsche Bank. In the wake of the liberation of Luxembourg in 1944, the CIAL recovered its former operations. It was temporarily hosted by the Caisse de pension des employés privés, and relocated back to its former location at 6 Groussgaass in 1946.
In 1969, the CIAL took a 30 percent stake in Luxembourg-based Banque Mathieu Frères, and raised it to 100 percent in 1971. In May 1977, the CIAL reorganized Banque Mathieu Frères and subsequently renamed it the Banque de Luxembourg, in which Deutsche Bank and its affiliated Saarländische Kreditbank took minority stakes.
In 1991, the Banque de Luxembourg took over the CIAL's own branch in Luxembourg, which had remained separate until then, and became the Grand-Duchy's fifth-largest bank by total assets. By 1997, 42 percent of the CIAL's total profits came from Luxembourg, 42 percent from France, and 26 percent from Switzerland.
The bank opened its new head office at 14 Boulevard Royal in 1994. In 1999, Banque de Luxembourg launched Fund-Market S.A., an independent fund adviser. Fund-Market's products and services were integrated into the Bank's offer in 2010.
In 2002, the Crédit Mutuel-owned CIC purchased Deutsche Bank's 29 percent stake in the Banque de Luxembourg and became its sole owner. In 2005, the creation of Banque de Luxembourg Fund Research & Asset Management (BL FR&AM) brought together the bank's investment analytical and management expertise. In 2010, Banque de Luxembourg opened two branches in Belgium, aiming to meet the needs of clients from the Belgian province of Luxembourg.
From Wikipedia’s article on Banque de Luxembourg, shared under CC BY-SA 4.0.5