With the acquisition of Keytrade Bank Luxembourg we will strengthen our European expansion. Moreover, we will continue to develop our service offering to suit the needs of institutional as well as private clients in Luxembourg and the European Union.
We will bring together the strengths of both institutions – Swissquote Bank Europe and Keytrade Bank Luxembourg – to become the clear leader in digital investing services in Luxembourg.
Keytrade Bank Luxembourg was founded in 1999 and since then it has built up a strong market position with around 8,200 clients and €1.7 billion in assets under custody. Swissquote Bank Europe noted that it will take over most of Keytrade Bank Luxembourg’s employees.
The details of the transaction such as price have not been disclosed. The deal is awaiting approval by CSSF, the ECB and FINMA.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.