Banque et Caisse d'Épargne de l'État
Encyclopedia
In Luxemburgish Spuerkeess, in French
Banque et Caisse d'Épargne de l'État (abbreviated short BCEE or in the internet S-Bank), is a Luxembourg
ish bank
, established and owned by the Luxembourgish government. Founded in 1856 as a savings bank
, its competences were expanded over time, culminating in its transformation by Grand Ducal decree into a full service bank on 25 October 1944. Nowadays, it provides all the functions of a commercial bank
, including retail banking
and private banking
.
rated Banque et Caisse d'Épargne de l'État, the 8th safest bank in the world in its "World’s 50 Safest Banks 2011" rating. The rating is based on long-term foreign currency ratings from Fitch Ratings
and Standard and Poor’s and the long-term bank deposit ratings from Moody’s Investors Service.
French language
French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...
Banque et Caisse d'Épargne de l'État (abbreviated short BCEE or in the internet S-Bank), is a Luxembourg
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
ish bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
, established and owned by the Luxembourgish government. Founded in 1856 as a savings bank
Savings bank
A savings bank is a financial institution whose primary purpose is accepting savings deposits. It may also perform some other functions.In Europe, savings banks originated in the 19th or sometimes even the 18th century. Their original objective was to provide easily accessible savings products to...
, its competences were expanded over time, culminating in its transformation by Grand Ducal decree into a full service bank on 25 October 1944. Nowadays, it provides all the functions of a commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
, including retail banking
Retail banking
Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...
and private banking
Private banking
Private banking is banking, investment and other financial services provided by banks to private individuals investing sizable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers...
.
Awards
The magazine Global FinanceGlobal Finance (magazine)
Global Finance is an English-language monthly financial magazine.Joseph D. Giarraputo, the founder and former publisher of Venture, the magazine for entrepreneurs, in 1987 joined forces with Carl G. Burgen, Stephan Spahn, H. Allen Fernald, and Paolo Panerai to start a magazine on financial...
rated Banque et Caisse d'Épargne de l'État, the 8th safest bank in the world in its "World’s 50 Safest Banks 2011" rating. The rating is based on long-term foreign currency ratings from Fitch Ratings
Fitch Ratings
The Fitch Group is a majority-owned subsidiary of FIMALAC, headquartered in Paris. Fitch Ratings, Fitch Solutions and Algorithmics, are part of the Fitch Group....
and Standard and Poor’s and the long-term bank deposit ratings from Moody’s Investors Service.