Deposit banking in Luxembourg

Two new postage stamps from Luxembourg

Luxembourg Post issued a series of two postage stamps in September 2006 in remembrance of the first banks in Luxembourg. Both stamps have a face value of 50 cent. The first bank to open for business in Luxembourg, Dexia BIL started in 1856, at the time under the name International Bank Luxembourg. That same year, this bank issued the first Luxembourg bank note, a privilege the bank maintained until 1999, when the Euro became the national currency.

Boulevard Royal

The first headquarters of the Bank was situated on Notre Dame Street, and in 1905 it moved to Boulevard Royal. The inauguration, in Luxembourg-Hollerich in 1989, of its new headquarters building, called the Independence to commemorate the 150th anniversary of independence of the Grand Duchy, is evidence of the determination of the Bank to breathe new life into this area of town.

Important for industry and development

Known by the name Red Earth, the south of the country was synonymous with the dynamism and innovation associated with the iron and steel industry. Today, the redevelopment of this unused land represents an historical opportunity for the development of the region on a national scale. In deciding to set up a new banking center on the land in Belval-Ouest, the Bank once again takes on a leadership role and hopes that its initiative augers well for a successful redevelopment.

Postage stamp highlights modern architecture

The design of this marvelously illustrated commemorative postage stamp highlights the modern architecture whose colors are a tribute to the industrial cradle of the country. Following an architectural competition launched in December 2001, the architect selected for the future administrative complex was the French firm of Claude Vasconi in collaboration with the Luxembourg firm of Jean Petit.
The establishment of the Bank is centered around a 70-metre tower constructed of steel and glass, a symbol of balance with the blast furnaces of the site which remain, witnesses of the past, reaching a height of 90 meters in the center of the redeveloped site. Modular buildings will be connected to this tower. The entire group of buildings will be connected by walkways of glass to facilitate communication.

Stamps in design

Issue: Luxembourg, 26 September 2006
Design: Advantage (Howald)
Print: High-resolution offset by Cartor Security Print, La Loupe
Stamp size: 33x29.07 mm.

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