The Banque et Caisse d'Épargne de l'État (, State Bank and Savings Bank), also known by its Luxembourgish name Spuerkeess (lit. 'Savings Bank'), is the leading national financial institution founded in 1856 and governed by the law of 24 March 1989. Spuerkeess is a commercial bank wholly owned by the government of Luxembourg.
Nowadays, it provides all the functions of a commercial bank, including retail banking and private banking. In terms of total assets Spuerkeess is the third-largest bank in Luxembourg and the largest bank with domestic capital.[2]
BCEE has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[3][4]
History
Spuerkees was founded by Grand Duke William III as "Caisse d'Épargne de l'État du Grand-Duché de Luxembourg" due to a Law on 21 February 1856.