Question 1

What is Bank of Communications (Luxembourg)?

Accepted Answer

Bank of Communications (Luxembourg) S.A. is a Chinese-owned credit institution operating in Luxembourg, specializing in corporate banking and trade finance services. Established in 2015, it is a wholly-owned subsidiary of Bank of Communications Co., Ltd., one of China's oldest and largest banks founded in 1908. The bank focuses on serving the financial needs of companies engaged in cross-border business between China and Europe.

Question 2

When was Bank of Communications (Luxembourg) founded?

Accepted Answer

Bank of Communications (Luxembourg) S.A. was established in May 2015 and received its full banking license from the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) on April 26, 2019. The parent company, Bank of Communications, traces its roots to 1908, making it one of the oldest banks in China and a note-issuing bank in modern Chinese history.

Question 3

Where is Bank of Communications (Luxembourg) headquartered?

Accepted Answer

The bank is headquartered in Luxembourg City, Luxembourg. It operates from 7 Rue de la Chapelle in the heart of Luxembourg's financial district.

Question 4

Where does Bank of Communications (Luxembourg) operate?

Accepted Answer

Bank of Communications (Luxembourg) S.A. operates primarily in Luxembourg, serving as a European banking platform for the Bank of Communications Group. The institution also has representative capabilities across the European Economic Area through cross-border banking services, enabling it to serve clients engaged in trade and investment activities throughout Europe.

Question 5

What services does Bank of Communications (Luxembourg) offer?

Accepted Answer

The bank offers a comprehensive range of corporate banking services including corporate deposits and loans, international settlement, trade finance, foreign exchange operations, structured deposits, and cross-border RMB (renminbi) business. Services also include guarantees, documentary credits, bills of exchange, external financing guarantees, interbank trade finance, risk participation, forfaiting, and L/C confirmation. The bank specializes in supporting companies involved in international trade between China and Europe.

Question 6

What makes Bank of Communications (Luxembourg) unique?

Accepted Answer

Bank of Communications (Luxembourg) S.A. is distinguished by its position as a specialized corporate banking platform in Europe for one of China's largest banks. As of 2023, it ranked as the 50th largest bank in Luxembourg with total assets of approximately €1.01 billion and a workforce of 69 employees. The bank demonstrated strong profitability with a return on assets of 0.77% and return on equity of 2.73% in 2023. Its focus on facilitating China-Europe trade and its expertise in cross-border RMB operations make it a unique player in Luxembourg's banking landscape.

Question 7

What type of financial institution is Bank of Communications (Luxembourg)?

Accepted Answer

Bank of Communications (Luxembourg) S.A. is classified as a credit institution (CRDCREINS) under European Banking Authority regulations. It holds a full banking license from the Commission de Surveillance du Secteur Financier (CSSF) and is a member of the Luxembourg deposit guarantee scheme (Fonds de garantie des dépôts Luxembourg - FGDL), protecting deposits up to €100,000 per depositor. As a credit institution, it is authorized to conduct a broad range of banking activities in Luxembourg and across the European Economic Area.

Bank of Communications (Luxembourg)

in Luxembourg 🇱🇺

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About Bank of Communications (Luxembourg) in Luxembourg

Bank of Commun­icatio­ns (Luxem­bourg)