Banque et Caisse d'Épargne de l'État


In Luxemburgish Spuerkeess, in French Banque et Caisse d'Épargne de l'État, is the leading national financial institution founded in 1856 and governed by the law of March 24, 1989. BCEE is a commercial bank wholly owned by the Luxembourgish State.
Nowadays, it provides all the functions of a commercial bank, including retail banking and private banking. In terms of total assets BCEE is the third-largest bank in Luxembourg and the largest bank with domestic capital.

History

Spuerkees was founded by Grand Duke William III as "Caisse d'Épargne de l'État du Grand-Duché de Luxembourg" due to a Law on February 21, 1856. The board of directors had three members and had their first meeting on August 18, 1859 under the presidency of Professor :lb:Nicolas Martha|Nicolas Martha. Headquarters of the Spuerkees at that time were seated in Haus Ketter in :lb:Dräikinneksgaass|Dräikinneksgaass in the city, while their desk offices were at the Krautmaart, at the headquarters of the government commission, which is today's Palais.
Since 1862 it was allowed that foreigners could deposit their money at the Spuerkees. The trust of the public was high from the first day on, one of the reasons the deposit already reached an amount of one million francs in 1869.

Awards