Bank of China was the first Chinese bank to establish a branch in Luxembourg in 1979. BIL and Bank of China have a long history of working together. With this agreement, they intend to further develop their business collaboration. Both banks can leverage their respective expertise and services on their domestic market to bring top-notch services to corporate clients in Europe and in China.

The agreement outlines an ambitious plan to collaborate in the fields of:

• Corporate finance,
• Financial market activities,
• Treasury activities,
• Joint marketing events and product development.

Marcel Leyers, Chief Executive Officer of BIL, commented: “Since Legend Holdings acquired a majority stake in BIL last year, China has become a new market for the bank. BIL aims to be an investment bridge between China and Europe, and the collaboration with Bank of China is a perfect example. Both of us are committed to strengthening a mutually beneficial relationship and this agreement allows us to explore more opportunities together, in Europe and China.”

Zhou Lihong, General Manager, Bank of China Luxembourg Branch, commented: "BOC Luxembourg aims to further strengthen the comprehensive strategic partnership on a bilateral beneficial basis between BIL and BOC Luxembourg, and the successful expansion in the financial market business across Europe and China."