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ING Bank in Luxembourg has seen a significant decline in its customer base, dropping from 124,000 to around 86,000 due to a strategic shift towards high net worth individuals and corporate clients. Many customers with basic banking needs have closed their accounts, with 18,000 transitioning to BGL BNP Paribas. The destinations of the remaining customers remain unclear, as other local banks have not disclosed their account transfers.
Raiffeisen Bank has opened two new branches in Esch-Belval and opposite Luxembourg-City"s main railway station, along with a renovated branch in Alzingen, increasing its total to 29 branches in Luxembourg. This expansion comes as ING announced the closure of its retail banking services in the country. The latest retail banking survey indicates a decline in the number of bank branches and ATMs in Luxembourg, with Raiffeisen being one of the few banks still offering retail services.
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