The following list of banks in Luxembourg is to be understood within the framework of the European single market and European banking union, which means that the Luxembourgish banking system is more open to cross-border banking operations than peers outside of the EU. The list leaves aside the country's National Central Bank within the Eurosystem, the Central Bank of Luxembourg.
European banking supervision distinguishes between significant institutions (SIs) and less significant institutions (LSIs), with SI/LSI designations updated regularly by the European Central Bank (ECB). Significant institutions are directly supervised by the ECB using joint supervisory teams that involve the national competent authorities (NCAs) of individual participating countries. Less significant institutions are supervised by the relevant NCA on a day-to-day basis, under the supervisory oversight of the ECB. [1] In Luxembourg's case, the NCA is the Commission de Surveillance du Secteur Financier. [2]
As of 1 September 2025, the list of supervised institutions maintained by the ECB included the following two Luxembourg-based banking groups as SIs, with names as indicated by the ECB for each group's consolidating entity: [3]
In addition to these, multiple other euro-area-based banking SI groups have operations in the country. A study published in 2024 assessed that the largest bank by assets in Luxembourg (as opposed to total consolidated assets) at end-2023 was Société Générale (€66.4 billion), followed by BNP Paribas (€63.3 billion, via BGL BNP Paribas), BCEE (€56.2 billion), Deutsche Bank (€32.3 billion), BIL (€30.5 billion), DZ Bank (€25.7 billion), Intesa Sanpaolo (€22.2 billion), ING (€14.4 billion), Crédit Mutuel (€14.1 billion, via Banque de Luxembourg), and Quintet Private Bank (€12.1 billion). [4] : 28–29 Per the September 2025 ECB list, the other SIs based in the euro area that had subsidiaries in Luxembourg are Bankinter, BPER, BPCE, CaixaBank, Commerzbank, Crédit Agricole, Eurobank Ergasias, HSBC Continental Europe, Mediobanca, NORD/LB, RBS Holdings NV (Dutch subsidiary of NatWest), and UniCredit. [3]
Conversely, three SIs in other euro-area countries were under a Luxembourg-based consolidating entity. these are, respectively: [3]
As of 1 September 2025, the ECB's list of supervised institutions included 53 Luxembourgish LSIs, of which the following 3 were designated by the ECB as "high-impact" on the basis of several criteria including size: [3]
45 Luxembourgish LSIs were intermediate holdings and/or subsidiaries of financial groups based outside the euro area:
The remaining five LSIs were:
A number of former Luxembourg banks, defined as having been based in the present-day territory of Luxembourg , are documented on Wikipedia. They are listed below in chronological order of establishment.