Within the framework of EU state aid proceedings BayernLB (Munich) it was decided to sell the 100% subsidiary of Banque LBLux SA, headquartered in Luxembourg. The sales process of the individual divisions was completed in December 2014.
In December 2013, Banque LBLux sold a part of the private banking and wealth management business to Banque de Luxembourg. The transfer of the accounts and securities accounts for Banque de Luxembourg took place as planned on 31 May 2014. The still remaining portion of the private banking activities of Banque LBLux was disbanded by the end of 2014. Loan portfolio of corporate banking was transferred by July 01, 2014 to BayernLB in Munich. The custodian bank business was transferred at the end of 2014 to other custodians in Luxembourg.
On April 01, 2015 the liquidation procedure on the LBLux was opened and the bank returned its banking license.
In 2014 total assets of Banque LBLux S.A. were 797,00 mln EUR. In 2014 the bank's annual profit was 52,00 mln EUR. Banque LBLux S.A. had 147 employees in 2014.
Banque LBLux S.A. participates in deposit guarantee scheme of Luxembourg. This scheme covers accounts up to 100,000 EUR per bank per depositor.
Banque LBLux S.A. is a member of Bayerische Landesbank (Germany).
Banque LBLux S.A. was headquartered in LUXEMBOURG.