81:
103:. The aim was to grant credit to municipalities for their investments, for which the bank was established in the form of a cooperative, namely a public limited company owned by Belgian municipalities. Municipalities that wanted to borrow from it had to subscribe to shares for at least 5% of the amount of their loan, thus gradually establishing a proper capital base for the bank. The Crédit Communal's founding act was made by lawmaker
20:
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The contribution of the Crédit
Communal to the financing of Belgian municipalities rose over time. In the period 1860-1913, it contributed less than 20 percent of the aggregate amount borrowed; between 1914 and 1940, that share rose to more than 70 percent, eventually reaching 90 to 95 percent in the
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From the late 1980s, a number of projects were considered to consolidate the
Belgian banking sector, involving the Crédit Communal. The government coalition agreement of 8 May 1988 foresaw a combination of public-sector banks, resulting in legislation of 17 June 1991 that mandated the integration of
140:
In 1947, the Crédit
Communal developed a network of local offices to collect savings directly from the public. In 1960, the network was upgraded with the aim of diversifying operations and building loyalty among retail customers, by expanding the range of products and services. In 1973, its statute
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Since its founding, the Crédit
Communal had special status among joint-stock companies, because of its public-sector shareholding structure but also with special provisions in its statute granting governance rights to the national government. Its public-sector status was further articulated by
111:, on 24 November 1860, and endorsed by royal decree on 8 December 1860. The initial board of directors was composed of Bischoffsheim, de Brouckère, Gillon, Orts, and Krekelinger (a government official), the same five individuals who had drafted the bank's statute.
192:(BIL), by then the leading bank in the Grand Duchy. At the beginning of 1992, Crédit Communal increased its stake in BIL to 51 percent. By the mid-1990s, BIL represented about a quarter of the Credit Communal's activity.
236:
as additional Dutch partner was considered but eventually not retained. The merger was eventually approved by the respective general shareholders' meetings of CLF and CCB on 9 October 1996 and 14 October 1996.
202:
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In 1878, the Crédit
Communal established its head office at the corner of rue de Ligne and rue de la Banque in central Brussels, next to the then newly finished building of the
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416:
209:. The Crédit Communal, however, ensured that these provisions were not implemented. In 1995, a project of merging the Crédit Communal with the
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188:, specializing in wealth management. In 1991, the bank continued its international expansion by taking 25 percent of the share capital of
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100:
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In 1990, the Crédit
Communal began an international banking expansion with the creation of Cregem International Bank in
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By the mid-1990s the Crédit
Communal relied on nearly a thousand branches in Belgium managed by 1,230 local agents (
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118:. That building was eventually demolished and replaced in the 1970s by a complex designed by prominent architect
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Former Crédit
Communal building at Boulevard Pachéco 44 in Brussels, erected 1965-1969, lately offices of the
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23:
Former head office of the Crédit
Communal de Belgique, at the corner of rue de Ligne and rue de la Banque in
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failed to materialize, largely because of the specificity of the Crédit
Communal's shareholding structure.
228:, emulating the bilateral holding structure that had been created a few years earlier for the creation of
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108:
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was amended to allow for provision of consumer loans and mortgages to its retail customer base.
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clarified its identity as an administrative authority despite its private-sector legal form.
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68:. By the mid-1990s, it was the second-largest Belgian bank by total assets (behind the
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176:) which were either individuals or corporate entities, employing a total 1,970 staff.
60:) was a Belgian financial institution, established in 1860 and eventually merged with
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129:, presenting a neoclassical stone-faced front towards the National Bank and modern
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157:, the Crédit Communal was brought into the scope of prudential supervision by the
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legislation of 16 April 1963 that placed it under the joint oversight of the
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The Crédit Communal de Belgique was created in 1860 on the initiative of
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339:(1539), Brussels: Centre de recherche et d'information socio-politiques
283:"Rapprochement CLF-Crédit Communal de Belgique: des réactions mitigées"
373:
Région de Bruxelles-Capitale / Inventaire du Patrimoine Architectural
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Région de Bruxelles-Capitale / Inventaire du Patrimoine Architectural
153:. In 1983, following an infringement case lost by Belgium before the
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Following these episodes, in late 1995 the Crédit Communal's CEO
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388:"Le Bâtiment De Ligne, le luxe discret de la finance"
161:. In 1984 and 1985, two successive rulings of the
224:initiated contacts with France's state-owned
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369:"Immeuble de Ligne, anc. Crédit Communal"
203:Société Nationale de Crédit à l'Industrie
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333:"La restructuration du Credit communal"
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207:Office Central de Crédit Hypothécaire
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72:) and the largest one by deposits.
386:Tania Markovic (20 October 2023).
281:Nathalie Liétard (18 March 1996).
190:Banque Internationale à Luxembourg
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107:and Jacques Gillon, the mayor of
95:, taking advice from statesman
417:1860 establishments in Belgium
337:Courrier hebdomadaire du CRISP
101:Jonathan-Raphaël Bischoffsheim
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133:façades on the other sides.
55:Municipal Credit of Belgium
32:Crédit Communal de Belgique
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247:Bank Nederlandse Gemeenten
234:Bank Nederlandse Gemeenten
159:Belgian Banking Commission
41:Gemeentekrediet van België
155:European Court of Justice
86:Belgian Interior Ministry
412:Defunct banks of Belgium
116:National Bank of Belgium
232:. The option of adding
180:International expansion
351:"Anc. Crédit Communal"
331:Jacques Moden (1996),
226:Crédit Local de France
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62:Crédit Local de France
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215:Bank Brussels Lambert
201:the Crédit Communal,
109:Saint-Josse-ten-Noode
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93:Walthère Frère-Orban
16:Former Belgian bank
211:Générale de Banque
97:Henri de Brouckère
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70:Générale de Banque
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196:Merger into Dexia
151:Interior Ministry
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163:Council of State
147:Finance Ministry
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120:Marcel Lambrichs
64:in 1996 to form
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222:François Narmon
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99:and financier
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230:Fortis Group
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131:curtain-wall
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105:Auguste Orts
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174:mandataires
123: [
406:Categories
268:References
262:Landesbank
186:Luxembourg
287:Les Échos
241:See also
25:Brussels
392:rtbf.be
137:1990s.
76:History
49:
205:, and
170:French
127:]
66:Dexia
36:Dutch
257:SFIL
213:and
149:and
46:lit.
30:The
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371:.
353:.
335:,
295:^
285:.
172::
125:fr
44:,
38::
394:.
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58:'
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34:(
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