Swissquote Buys Luxembourg Lender

Jan 12, 2022Updated May 30, 20251 min read

The Swiss digital bank is buying a bank in Luxembourg, in a bid to tackle the wider European market.

Gland, Switzerland-based Swissquote is buying Keytrade Bank in Luxembourg, it said in an emailed statement on Wednesday. Neither bank disclosed the financial details of the deal.

Twenty-three-year-old Keytrade has 1.7 billion euros ($1.9 billion) in client assets. Swissquote will take over a majority of its employees through its European-based bank.

The Swiss bank said Keytrade vaults it to the largest online trading bank in Luxembourg, underpinning its growth plans in Europe. With the acquisition of Keytrade Bank Luxembourg, we will strengthen our European expansion, CEO Mark Buerki said.

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.

The deal is expected to close by mid-year, and Swissquote it would disclose further details when it reported financial results on March 17.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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