The following list of banks in Luxembourg is to be understood within the framework of the European single market and European banking union, which means that Luxembourg's banking system is more open to cross-border banking operations than peers outside of the EU. The list leaves aside the country's National Central Bank within the Eurosystem, the Central Bank of Luxembourg.
Policy framework
European banking supervision distinguishes between significant institutions (SIs) and less significant institutions (LSIs), with SI/LSI designations updated regularly by the European Central Bank (ECB). Significant institutions are directly supervised by the ECB using joint supervisory teams that involve the national competent authorities (NCAs) of individual participating countries. Less significant institutions are supervised by the relevant NCA on a day-to-day basis, under the supervisory oversight of the ECB.[1] In Luxembourg's case, the NCA is the Commission de Surveillance du Secteur Financier.[2]
Significant institutions
As of 2025-9-1, the list of supervised institutions maintained by the ECB included the following two Luxembourg-based banking groups as SIs, with names as indicated by the ECB for each group's consolidating entity:[3]
In addition to these, multiple other euro-area-based banking SI groups have operations in the country. A study published in 2024 assessed that the largest bank by assets in Luxembourg (as opposed to total consolidated assets) at end-2023 was Société Générale (€66.4 billion), followed by BNP Paribas (€63.3 billion, via BGL BNP Paribas), BCEE (€56.2 billion), Deutsche Bank (€32.3 billion), BIL (€30.5 billion), DZ Bank (€25.7 billion), Intesa Sanpaolo (€22.2 billion), ING (€14.4 billion), Crédit Mutuel (€14.1 billion, via Banque de Luxembourg), and Quintet Private Bank
Less significant institutions
As of 2025-9-1, the ECB's list of supervised institutions included 53 Luxembourgish LSIs.[3]
High-impact LSIs
Of these, the following three were designated by the ECB as "high-impact" on the basis of several criteria including size:
- Bank of China (Europe) SA, intermediate parent undertaking of Bank of China in the EU[5]
- Banque Raiffeisen, a local cooperative entity
- PayPal 2 Sàrl, financial holding subsidiary of PayPal
Other Luxembourg LSIs under euro-area ownership
Third-country branches
As of 2025-10-13, the following banks established outside the European Economic Area had branches in Luxembourg ("third-country branches" in EU parlance):[5]
- Agricultural Bank of China
- Banco do Brasil
- Banco Safra
- Bank of China
- Bank of Communications
- Banque de Commerce et de Placements
- China Construction Bank
Defunct banks
A number of former Luxembourg banks, defined as having been based in the present-day territory of Luxembourg, are documented on Wikipedia. They are listed below in chronological order of establishment.
- Banque Nationale du Grand-Duché de Luxembourg (1873-1881)
- Société Générale Alsacienne de Banque (1893-1940 and 1956-1995)
- Banque Fortuna (1920-2022)
- Banque Européenne du Luxembourg (1961-1979)
- Bank of Credit and Commerce International (1972-1991)
- East-West United Bank (1974-2024)
- Institut Monétaire Luxembourgeois (1983-1998)
- Compagnie de Banque Privée (2007-2011)
- Banque Havilland (2009-2024)
See also
- List of banks in the euro area
- List of banks in Europe
References
- What are less significant institutions? European Central Bank, 2024-8-2^
- Members and Observers European Banking Authority, retrieved 2025-11-19^
- List of supervised entities - Cut-off date for changes in group structures: 1 September 2025