Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 5.12.2022  
C(2022 ) 9232 final  
PUBLIC VERSION  
POST Luxembourg   
20, rue de Reims    
L-2417 Luxembourg  
Grand Duchy of Luxembourg   
 
BGL  BNP  Paribas   
50, Avenue J.F. Kennedy  
L-2951 Luxembourg  
Grand Duchy of Luxembourg  
 
Banque et Caisse d'Epargne de l'Etat  
1, place de Metz    
L-1930 Luxembourg  
Grand Duchy of Luxembourg  
 
Banque Internationale à Luxembourg S.A  
69, route d'Esch  
L-1470 Luxembourg  
 Grand Duchy of Luxembourg  
 
Banque de  Luxembourg  
14, Boulevard Royal  
L-2449  Luxembourg  
Grand Duchy of  Luxembourg   
Subject : Case M.10930 -POST / BGL / BCEE / BIL / BDL / i -HUB  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2   
Dear Sir or Madam,  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 

2 1. On 11 November 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger Regulation , by which  POST 
Luxembourg (“POST”, Luxembourg),  BGL BNP Paribas (“BGL”, Luxembourg), 
belonging to the BNP Paribas group (France), Banque et Caisse d’Epargne de l’Etat, 
Luxembourg (“BCEE”,  Luxembourg), Banque Internationale à Luxembourg S.A. 
(“BIL”, Luxembourg), belon ging to Legend Holdings (China) , et Banque de 
Luxembourg (“BDL”, Luxembourg), belonging to Crédit Industriel et Commercial 
(France) ,  will acquire within the meaning of Article 3(1)(b)  and 3(4)  of the Merger 
Regulation joint  control over the whole of  i-Hub S.A . (“i -Hub”, Luxembourg), 
currently jointly controlled by POST and BGL  by way of purchase of shares .3 
2. The business activities of the undertakings concerned  are the following : 
 For POST: a provider of postal, telecommunication, ICT and banking services in 
Luxembourg. POST is wholly owned by the Luxembourg State,  
 for BGL:  a credit institution providing a range of banking services in 
Luxembourg, including retail banking, international financial services and 
corporate and institutional banking,  
 for BCEE:  a cre dit institution providing a range of banking services in 
Luxembourg, including retail banking, international financial services and 
corporate and institutional banking. BCEE is wholly owned by the Luxembourg 
State , 
 for BIL: a private banking group operatin g in retail, private and corporate banking 
activities, and insurance, with Luxembourg as its main geographic focus , 
 for BDL:  a credit institution providing a range of banking services in 
Luxembourg, including retail banking, international financial service s and 
corporate and institutional banking , 
 for i-Hub: a provider of compliance support services, which involve, via its 
repository platform, assisting undertakings conducting Know Your Customer 
checks in order to comply with anti -money laundering obligatio ns. 
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of 
certain c oncentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -Genera  
                                                 
3  Publication in the Official Journal of the European Union No C  440, 21.11.2022 , p.26. 
4  OJ C 366, 14.12.2013, p. 5 .