BGL BNP Paribas

The BGL BNP Paribas S. A. is a Luxembourg bank, which is majority owned by the French bank BNP Paribas.


The Banque Générale du Luxembourg is founded on 29 September 1919 by the Société Générale de Belgique. In 1928, the bank expanded to Belgium and France. In August 1982, Banque Générale de Luxembourg (Suisse ) SA founded. The IPO takes place on 29 November 1984, the Luxembourg Stock Exchange.

After the BGL parent company, the Societe Generale de Belgique in 1999 came to Fortis Holding, Fortis increased in February 2000, its share of the BGL by a squeeze-out to 97.73 percent. In 2005, the Banque Générale du Luxembourg is the Fortis Banque Luxembourg.

The development from 2008

After the crisis in the Belgian- Dutch bank Fortis Holding the Luxembourg State had taken in late September 2008 a loan of 2.5 billion euros as a bond on the Fortis Banque Luxembourg. By converting the convertible bond into shares of the Luxembourg State acquired in mid-December 2008, a 49.9 per cent stake in Fortis Banque Luxembourg. The remaining 50.1 percent held by Fortis Bank Belgium SA. The Fortis Bank division was from December 22, 2008 back to BGL SA renamed. BGL stands for Banque Générale du Luxembourg.

After a new plan was adopted for the partial sale of the Fortis Group on the night of March 6, 2009 between the Belgian State and BNP Paribas, Luxembourg also reached an agreement with BNP Paribas on an entry in the BGL SA. The Luxembourg State will initially be 34% retain the shares. The BNP Paribas Group held since mid-May 2009 directly and indirectly (through the Belgian subsidiary BNP Paribas Fortis ) 65.96 % of the Luxembourg bank. As part of the majority takeover, the bank was renamed with effect from 21 September 2009 in BGL BNP Paribas.

Due to extraordinary expenses, amortization and provisions, net profit of 406.6 million euros has decreased in 2007 to 30.6 million euros in 2008. The BGL BNP Paribas is 100 percent owner of BNP Paribas Luxembourg.

The BGL Board together with the Chairman Carlo Thill and nine other board members including Hubert Musseau, Dominique Goulem, Luc Henrard, Anne Kayser, Marc Lenert, Carlo Lessel, Laure Morsy, Kik Schneider and Thierry Schuman.

Of the 432 million euro profit (calculated according to Lux Gaap, the Luxembourg Accounting Standards) for the year 2009 of 330 million euros will be distributed in dividends, of which Luxembourg, which had stepped in with 2.5 billion euros, receives 112 million euros. The Luxembourg government wants to keep its share ownership in the bank from 34 percent now.