Banque et Caisse d'Épargne de l'État
 | |
.jpg) Headquarters of Banque et Caisse d'Épargne de l'État located at Place de Metz, Luxembourg City | |
| Company type | State-owned enterprise |
|---|---|
| Industry | Banking |
| Founded | 21 February 1856 |
| Headquarters | Luxembourg City, Luxembourg |
Area served | Universal bank of Luxembourg |
Key people | Françoise Thoma (CEO, President of the Executive Committee), Camille Fohl (Chairman) |
| €603.6 m (2019) | |
| €183.9 m (2019) | |
| Total assets | €48,063.2 m (2019) |
Number of employees | 1,840 work units (2019) |
| Website | spuerkeess |
The Banque et Caisse d'Épargne de l'État—referred to as Spuerkeess in Luxembourgish—is Luxembourg’s foremost state-owned banking institution. Established in 1856 and regulated by the legislation dated 24 March 1989, it provides a broad range of commercial banking solutions including retail and private banking services. With assets totaling €48 billion as of 2019, Spuerkeess holds the position as the third-largest bank within Luxembourg and stands as the largest institution with domestic capital.
Since 2014, Spuerkeess has been classified as a Significant Institution under the European Banking Supervision framework and is subject to direct oversight by the European Central Bank.
History
Spuerkeess was founded by Grand Duke William III through an act passed on 21 February 1856, with the initial mission to encourage savings, enhance access to housing finance, and contribute to Luxembourg’s economic growth. The inaugural board meeting took place in 1859 under the leadership of Professor Nicolas Martha. Early operations were conducted from Haus Ketter and government premises at Krautmaart.
The bank has maintained full state ownership since its creation. Beginning in 1862, it extended its services to foreign clients, swiftly building public confidence as deposits climbed to one million francs by 1869.
Awards
Spuerkeess boasts premier international credit ratings, including AA+ from Standard & Poor's and a Aa2 rating for long-term deposits from Moody's. It is regularly recognized by Global Finance as one of the safest banks worldwide, earning the "Safest Bank Award - Luxembourg."
In 2020, both The Banker and Global Finance honored Spuerkeess with titles such as "Bank of the Year 2020 - Luxembourg" and "Best Bank 2020 - Luxembourg," respectively.
Other notable accolades include:
- "Partner Luxembourg E-Commerce" awarded in 2005 by the Chambre de Commerce alongside CRP Henri Tudor and the Ministry of Economy;
- "Prix Santé et Entreprises – Luxembourg" received in 2006 and 2009 from the Club Européen pour la Santé;
- "Grand Prix Paperjam RH" in 2010 recognizing its initiatives for employee integration;
- "Entreprise Socialement Responsable – ESR" distinctions granted in 2012 and 2015 by the Institut National pour le Développement Durable et la Responsabilité des Entreprises;
- "Green Facility Management Award" in 2013 and "Green Finance Award" in 2014.