BGL BNP Paribas
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The history of Fortis BGL BNP Paribas
BGL BNP Paribas - heir to a long tradition
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1919: Foundation of Banque Générale du Luxembourg (BGL)
Founded on September 29 by Société Générale de Belgique together with Luxembourg and Belgian partners, the new bank's registered office is in Arlon (Belgium) and its headquarters in Luxembourg. Its shareholders are companies and business people from Belgium, Luxembourg and France.
BGL's head office is temporarily housed at 5, rue Genistre; in 1921 the bank moves into newly-built premises at 14, rue Aldringen.
1919-1928: Expansion in Belgium, the Grand Duchy of Luxembourg and France
By early 1928, BGL is a large regional bank with extensive operations in Belgium, France and the Grand Duchy of Luxembourg. French business is based at the main branch in Metz, at 7 and 8 Place St-Jacques, which oversees branches in Thionville, Audun-le-Tiche, Carignan and Hayange.
1935: Banque Générale moves its registered office to Luxembourg
In 1935, Société Générale de Belgique makes Banque Générale du Luxembourg a Luxembourg corporation and shifts the bank's registered office to its headquarters in Luxembourg at 14, rue
Aldringen. From this time on, BGL's operations are centred on Luxembourg.
1940-1945: Business is scaled back during the Second World War
Since the 1960s: International business takes off
Starting in the early sixties, Luxembourg becomes a key player in international finance. Cross-border transactions account for a growing share of business at BGL, now a major provider of services on international bond and credit markets.
1969 BGL sets up a trading room; from the end of the seventies it plays an increasing role in the Eurobond market
To maintain direct contact with its main markets, BGL opens representative offices in Milan, Hong Kong and Frankfurt. In August 1982 it expands its network, setting up Banque Générale du Luxembourg (Suisse) S.A. in Zurich.
1984: Market listing of Banque Générale du Luxembourg
To broaden its shareholder base and ensure a more liquid market for its shares, Banque Générale du Luxembourg applies for listing on the Luxembourg stock exchange in 1984. On November 29, BGL shares are traded for the first time at a price of LUF 5,400 (EUR 133.86).
1999: Banque Générale du Luxembourg - a commercial deposit and lending bank, an investment bank and an international financial services company
As a universal bank, Banque Générale du Luxembourg offers the services of a commercial bank to its Luxembourg clients, and acts as an investment bank and international financial services company. It continues to diversify and expand national and international activities.
2000: Banque Générale du Luxembourg and Fortis reinforce their strategic partnership.
In February 2000, Banque Générale du Luxembourg and its majority shareholder Fortis announce plans to reinforce their strategic partnership. Fortis launches a public offer for the exchange of all BGL shares in circulation and raises its interest in the bank's equity to 97.73%.
Banque Générale du Luxembourg consolidates its presence in the Grande Région -- made up of Luxembourg and neighbouring regions of other countries - with the acquisition of SADE (Société de Développement et d'Expansion) through a friendly public offer.
2002: Development continues with a focus on the Grande Région and a move into a new field, bancassurance.
Continued business expansion in the Grande Région - comprising the Sarreland, Lorraine, Luxembourg, Trier, the West Palatinate and Alsace - includes the opening of new group Business Center present in Trier-Sarrebruck.
2005: Banque Générale du Luxembourg becomes Fortis Banque Luxembourg
Banque Générale du Luxembourg changes its name and markets its products under the name Fortis Banque Luxembourg.
2008: The State of Luxembourg becomes a shareholder of the bank with a 49.9% interest
In September 2008, the Luxembourg government invested EUR 2.5 billion in Fortis Banque Luxembourg, subscribing to an issue of bonds convertible into shares.
In October, the governments of Belgium and Luxembourg jointly decided, in association with BNP Paribas, a financial partner with high international standing, to consolidate the structures and businesses of Fortis in Belgium and Luxembourg.
In December, the State of Luxembourg became a 49.9% shareholder of the bank through the conversion of the loan it had granted into shares. Prior to the finalization of its tie-up with BNP Paribas, the bank has changed its name and now conducts its business under the name BGL.
2009: The BNP Paribas group becomes the majority shareholder of BGL
In May 2009, the BNP Paribas group becomes the majority shareholder of BGL with 65.96% equity interest. The Luxembourg state remains a significant shareholder of the bank with a 34% interest.
On 21 September 2009, BGL changes its registered name to market its products under the name BGL BNP Paribas.
2010: BGL BNP Paribas becomes 100% owner of BNP Paribas Luxembourg
In February 2010, as part of the implementation of BNP Paribas' industrial plan for Luxembourg, BGL BNP Paribas becomes 100% owner of BNP Paribas Luxembourg.
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