The Bank of London has applied for a European Union (EU) banking license and plans to invest €200 million in Luxembourg and the wider EU. The move is expected to create 300 new jobs and establish a global digital clearing ecosystem for financial institutions and corporate clients.
Facts
- The Bank of London has formally submitted its application for an EU banking license and will invest €200 million in Luxembourg and across the wider EU.
- The European Central Bank and Commission de Surveillance du Secteur Financier (CSSF) jointly lodged the submission in Luxembourg.
- The firm commits to investing €200 million in Luxembourg and the broader region to support its growth across the EU.
- The move will contribute to the creation of 300 new jobs, including positions in management, compliance, risk, product development, business control, technology, and operations.
- The Bank of London distinguishes itself by never lending, leveraging, or investing its deposits, ensuring their protection.
- By choosing Luxembourg as its EU headquarters, the bank aims to offer a global digital clearing ecosystem for financial institutions and corporate clients in the EU market.
- Luxembourg is seen as the perfect location to drive The Bank of London’s European business forward, and it will serve as a center for clearing in the EU.
