150th anniversary of the financial centre of Luxembourg
150th anniversary of the Savings Bank
0,50 € Stamp - BCEE
With its imposing silhouette dominating the Bourbon Plateau, the headquarters building of the State Savings Bank (“Banque et Caisse d’Epargne de l’Etat”) is firmly anchored in the landscape of the capital.
Created in 1856, by order of Guillaume III, King of The Netherlands, Prince of Orange-Nassau and Grand Duke of Luxembourg, in agreement with the Chamber of Deputies, the Savings Bank belonged to the State and its goal was to contribute to the economic and social development of the country and to promote saving.By 1869, the Savings Bank had its first million francs on deposit.
The history of the BCEE is marked by measures in favour of the economic support of savers. Thus, the creation of Credit Foncier in 1900 and of the Affordable Housing Service in 1906 gave it the possibility of contributing directly to the prosperity of the country and its inhabitants. The creation of the Housing Administration in 1929 represented another step in this direction. The right to grant private individuals short term loans and advances in chequing accounts in exchange for establishing real guarantees dates from 1937 and reinforced once again the role of the BCEE in the financing of the national economy.
Although the Savings Bank already had, since1972, the right to call itself the “State Bank”, it did not change its name to “Banque et Caisse d’Epargne de l’Etat, Luxembourg” until 1989. This change of name transformed the commercial orientation and character of this unversal bank. The attribution to the BCEE of AA+ and Aa1 ratings by Standard & Poor’s and Moody’s since 1994 made it one of the best rated banks in the world and the best rated bank in Luxembourg. To learn more about the evolution of the banking business and of the BCEE, visit the Banking Museum, inaugurated in 1995, at the headquarters in Luxembourg-Ville (1, Place de Metz).
|Price of the series:||1,00 €|
|Artwork:||Spuerkeess, BCEE; DEXIA-BIL, Advantage (Howald)|
|Printing:||Multicoloured high-resolution offset by CARTOR SECURITY PRINT SA, |
La Loupe (F);
|Size:||33 x 29.07 mm, 10 stamps per sheet|