The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.


Austria I Belguim I France I Germany I Greece I Ireland I Italy I Luxembourg I Netherlands I Portugal I Spain I Switzerland I United Kingdom

BEST BANK: Fortis Banque Luxembourg
BEST M&A HOUSE: Deutsche Bank
Fortis Banque Luxembourg continues to show impressive growth. The bank’s drive to attract more deposits has been successful, most conspicuously in bancassurance products and investment funds, where growth has been in double digits. The bank has also impressively grown its consumer loan and leasing business, which last year increased by a remarkable 67.3%.

M&A activity in Luxembourg is dominated by the business of one firm, Arcelor, a fact that has been even more pronounced this year thanks to the Mittal Steel takeover attempt.

Deutsche Bank has advised Arcelor on a number of deals and is one of the banks that is playing a leading role in the company’s defence against Mittal and in its bid for Canada’s Dofasco. Deutsche is also Arcelor’s lead adviser on the company’s stake-building in Brazilian steel manufacturer Acestia and in Turkish steel company Erdemir.

Deutsche has also been prominent in other deals in the Grand Duchy over the past 12 months, most notably as co-adviser to SBS Broadcasting on its takeover approach by KKR and Permira.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree