Jacques Errera, scion of a Venetian family of financiers, sees the Franco-German war, which breaks out in 1870, as a unique opportunity to give an international dimension to his activities and to attract capital and businessmen from the warring countries to Brussels. The Banque de Bruxelles memorandum of association is drawn up on 13 November 1871. Two weeks later, the bank moves into Grimbergen Abbey’s former hotel in the Rue Royale in Brussels.
It soon becomes clear that Banque de Bruxelles wants to steer a European course. For example, it helps to establish the Rotterdam Trade Association and finances many other European financial institutions. In 1874, it contributes to the creation of the Société Générale des Tramways, a Belgian company with an international profile that will continue developing activities in Europe and throughout the world.
Banque de Bruxelles gets off to a flying start, but suffers the consequences of the stock market crash in Vienna in 1873, the Russo-Turkish War and the withdrawal of German shareholders. The bank makes a new start in 1877. Quietly but resolutely, Banque de Bruxelles treads the path of success and continues on its European course.
"},"title":"I want to know more about the period 1871-1880"},{"alignedImage":{"position":"right","altTextDE":"Rue de la régence","altTextEN":"Rue de la régence","altTextFR":"Rue de la régence","altTextNL":"Rue de la régence","extension":"jpg","original":"https://assets.ing.com/m/47282f39f9b27525/original/About_DYK_1871_1880.jpg","transformBaseUrl":"https://assets.ing.com/transform/cdaa4130-ba36-43d7-a68a-ca159f43f61f/About_DYK_1871_1880"},"richBody":{"value":"Albert, who would later become the third King of Belgium, was born in 1875 in the Palace of the Count of Flanders in Rue de la Régence in Brussels, where Banque de Bruxelles was to be located from 1923 onwards?
"},"title":"Did you know..."}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"1881-1910: Banque de Bruxelles at the turn of the century"},{"componentType":"paragraph","richBody":{"value":""},"title":"Banque de Bruxelles continues to expand its activities. At the beginning of the 20th century, Banque de Bruxelles shows its commitment to its staff by introducing a provident fund."},{"accordionList":[{"alignedImage":{"position":"left","extension":"jpg","original":"https://assets.ing.com/m/1e4f7974f90e1d44/original/About_1881_1910.jpg","transformBaseUrl":"https://assets.ing.com/transform/193d6b02-9aee-42d1-a6b0-416c1a75b3e3/About_1881_1910"},"richBody":{"value":"The bank now operates in every corner of the world, spreading a safety net in the face of sudden crises in one region or another, which is not to be underestimated. When King Leopold II acquires an African territory in 1885 and names it Congo Free State, Chairman Jules Urban sees opportunities here as well. He helps establish the Compagnie du Congo pour le Commerce et l'Industrie and the Compagnie du Chemin de Fer du Congo, responsible for the railway between Matadi and present-day Kinshasa.
Despite its busy business banking activities, Banque de Bruxelles is also very active as a commercial bank. In 1884, it offers its customers the opportunity to open current accounts. This is soon followed by a service for depositing securities and renting out safes, which proves a great success. Term accounts are introduced in 1887. The bank also handles the trading of Belgian and foreign securities on the stock exchange. Finally, from 1885, the bank also collects and trades foreign banknotes, which facilitates international trade relations.
The bank's focus on its staff increases. In 1909, the creation of a provident fund for staff members and their families is approved. This is a special account with an annual endowment of 100,000 francs to provide compensation in the event of illness, disability or death.
"},"title":"I want to know more about the period 1881-1910"}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"1910-1919: Impending doom and the First World War"},{"alignedImage":{"position":"right","extension":"jpg","original":"https://assets.ing.com/m/79a58b8446146bba/original/About_1910_1919.jpg","transformBaseUrl":"https://assets.ing.com/transform/93669637-c71f-43f6-bc99-3ed854366c0d/About_1910_1919"},"componentType":"paragraph","richBody":{"value":""},"title":"Banque de Bruxelles expands its business activities in both traditional and newer sectors. Even during the First World War, the bank succeeds in acquiring stakes in several rival banks and opens its first foreign branch in Cologne. When World War I breaks out in 1914, everyone tries to secure their assets. The Brussels Stock Exchange has to close its doors, banks are faced with a wave of withdrawals and the National Bank is overwhelmed with requests to convert bank notes into gold and silver. The country is sinking into a war economy."},{"accordionList":[{"richBody":{"value":"In the midst of the crisis, Banque de Bruxelles manages to steadily become stronger, despite its activities being virtually paralysed. In 1916, the bank absorbs the International Bank of Brussels, as the Belgian public increasingly shuns it due to the large number of German shareholders. Between 1917 and 1919, Banque de Bruxelles takes stakes in the Crédit Général liégeois, the Bank of Leuven and the Banque de Crédit commercial d'Anvers. In 1919, the bank opens its first foreign branch in Cologne. Finally, the bank ratifies the establishment of a pension fund for staff.
"},"title":"I want to know more about the period 1910-1919"}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"1919-1930: The turbulent twenties"},{"alignedImage":{"position":"left","extension":"jpg","original":"https://assets.ing.com/m/3120598bb6b44f48/original/About_1919_1930.jpg","transformBaseUrl":"https://assets.ing.com/transform/97e657bf-52fe-488d-b690-78ad99e0022e/About_1919_1930"},"componentType":"paragraph","richBody":{"value":""},"title":"In the 1920s, Banque de Bruxelles undergoes remarkable expansion, both nationally and internationally. In order to be closer to the customer, there is now a branch in every major Belgian city. In addition, the bank is building a network in Europe, Africa, the Middle East, the Far East and America."},{"accordionList":[{"richBody":{"value":"Banque de Bruxelles undergoes remarkable expansion with four main thrusts:
Between 1923 and 1929, the capital of Banque de Bruxelles increases more than sixfold. Even during the stock market crisis caused by Wall Street's “Black Thursday” in the latter year, a capital increase is completed.
"},"title":"I want to know more about the period 1919-1930"},{"alignedImage":{"position":"left","altTextDE":"Maurice Despret Hotel Foundation","altTextEN":"Maurice Despret Hotel Foundation","altTextFR":"Maurice Despret Hotel Foundation","altTextNL":"Maurice Despret Hotel Foundation","extension":"jpg","original":"https://assets.ing.com/m/7f224db30610ae17/original/About_DYK_1919_1930_HotelMiddelkerke.JPG","transformBaseUrl":"https://assets.ing.com/transform/244a870c-f512-4c81-93c0-a1e04c9d9476/About_DYK_1919_1930_HotelMiddelkerke"},"richBody":{"value":"Banque de Bruxelles provided its staff with low interest rate loans, a kind of family allowance, a share of the bank's profits and holiday accomodation on the Belgian coast.
(picture - The Maurice Despret Foundation hotel in Middelkerke, purchased in 1929 for holidays for the bank's staff.
In 1931, Banque de Bruxelles and its member banks are merged to form a unified network to overcome the crisis. From now on, the bank has two registered offices, 16 subsidiaries and 382 agencies, branches and branch offices covering the entire Belgian territory.
In 1935, the banking reform is completed, which means that mixed banks are split up and have to make way for deposit banks on the one hand and holding companies on the other. This reform is of unprecedented importance for the Belgian economy. It introduces a check on public calls on savings and defines the legal status of deposit banks. It also provides for the creation of a new institution, the Banking Commission, the forerunner of the FSMA, which will both protect savers and ensure compliance with the texts applicable to banks.
On 28 December 1934, Banque de Bruxelles is split into Brufina (or Société de Bruxelles pour la Finance et l'Industrie), which takes over the investment portfolio, and Banque de Bruxelles, which begins a new phase in its existence, as a deposit bank. In 1936, the Belgian Bankers' Association is founded.
"},"title":"I want to know more about the period 1930-1939"}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"1939-1945: the Second World War"},{"alignedImage":{"position":"right","extension":"jpg","original":"https://assets.ing.com/m/4634bf1058299474/original/About_1939_1945.jpg","transformBaseUrl":"https://assets.ing.com/transform/f871ef67-3380-4ac0-b252-7076a66c0d48/About_1939_1945"},"componentType":"paragraph","richBody":{"value":""},"title":"As in 1914-1918, Banque de Bruxelles is trying to get through the war period the best it can. The bank provides support to staff members and the wider population through various aid organisations and initiatives. The growing threat of war frightens savers and, from 1938 onwards, large sums of money are withdrawn from Banque de Bruxelles and other financial institutions. In two years, the bank loses a quarter of its deposits."},{"accordionList":[{"richBody":{"value":"When Germany invades Belgium on 10 May 1940, Banque de Bruxelles enters a period similar to that of the First World War. The bank works together with the major aid agencies to meet the needs of the population. It also establishes the Support, Assistance and Philanthropy Fund and the Supplementary Pension Fund and provides low-cost food packages and free accommodation in a bid to give its staff the best support possible. In addition, the bank's leaders take numerous initiatives to protect the staff from deportation.
"},"title":"I want to know more about the period 1939-1945"}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"1945-1952: Banque de Bruxelles during the first post-war years"},{"alignedImage":{"position":"top","extension":"jpg","original":"https://assets.ing.com/m/2fbf75e52a407704/original/About_1945_1952.jpg","transformBaseUrl":"https://assets.ing.com/transform/678efeb7-d3b7-48e8-b38c-c66a80505d26/About_1945_1952"},"componentType":"paragraph","richBody":{"value":""},"title":"After the Second World War, Banque de Bruxelles expands its branch office network and asset management services. In 1946, the bank acquires a distant predecessor of today's computer to cope with the growing number of transactions."},{"accordionList":[{"richBody":{"value":"After the war, Banque de Bruxelles resumes its expansion policy. The bank is committed to increasing its market share of deposits and credits, which translates into the expansion of its branch office network. By the end of 1952, Banque de Bruxelles has three registered offices, 19 subsidiaries and 374 branches.
In addition to its traditional activities, the bank has a strong focus on financial operations. The asset management service, established in 1939, is given new impetus by having contacts with specialised firms in stock exchange cities around the world. In 1946, the first ‘Monthly Bulletin’ of financial information appears.
Also in 1946, the bank purchases a machine that can be considered a distant predecessor of today's computer. This is the only way for the bank to cope with the growing number of transactions.
"},"title":"I want to know more about the period 1945-1952"},{"alignedImage":{"position":"left","extension":"jpg","original":"https://assets.ing.com/m/1e7721f3cdb4e2d/original/About_DYK_1945-1952-480x480.jpg","transformBaseUrl":"https://assets.ing.com/transform/c19757ae-afbb-4235-b8d9-7cd0f9921b5c/About_DYK_1945-1952-480x480"},"richBody":{"value":"Banque de Bruxelles opened a travel agencyin 1949, making available to customers the experience that they had gained over the years in organising trips abroad for the Executive Board?
"},"title":"Did you know...."}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"1952-1969: Expansion and internationalisation of Banque de Bruxelles"},{"alignedImage":{"position":"right","extension":"jpg","original":"https://assets.ing.com/m/724a57120e90ec4e/original/About_1952_1969.jpg","transformBaseUrl":"https://assets.ing.com/transform/9ad2b800-003f-486e-909e-79d9b7ec644b/About_1952_1969"},"componentType":"paragraph","richBody":{"value":""},"title":"The doubling of the network, the launch of personal loans and the introduction of Bankomat machines for cash withdrawals are all part of Banque de Bruxelles’ forging ahead in the 1950s and 1960s. The bank's domestic network expands, from 400 operating points in 1945 to no fewer than 1,007 in 1975, averaging one opening every two weeks."},{"accordionList":[{"alignedImage":{"position":"right","extension":"jpg","original":"https://assets.ing.com/m/6732b2a4a6c69f52/original/About_1952_1969_2.JPG","transformBaseUrl":"https://assets.ing.com/transform/2f4c99b4-b006-4db9-ba68-f6f4ef94814c/About_1952_1969_2"},"richBody":{"value":"In 1952, Banque de Bruxelles launches personal loans – in addition to instalment loans for consumer durables and cars – that enables customers to spread large expenses. In 1953, cash bonds are introduced. More and more account linked services emerge: standing orders and direct debits are soon commonplace and a cheque book allows customers to withdraw up to 10,000 francs at any bank counter. In 1967, this option is extended to about 30 Belgian financial institutions and the following year, thanks to an agreement with a number of foreign banks, to 14 countries.
In 1969, Banque de Bruxelles installs the first Bankomat device from which notes can be withdrawn. This is the beginning of the success story of cash machines in this country.
The range of products intended for businesses is also greatly expanded.
To enhance its international standing, Banque de Bruxelles invests in the continuous expansion of its network of correspondent bankers. In 1971, the bank joins the Société financière européenne (S.F.E.), a consortium association founded in 1967. Banque de Bruxelles thus becomes an equal partner of the major European banks.
"},"title":"I want to know more about the period 1952-1969"},{"alignedImage":{"position":"bottom","extension":"jpg","original":"https://assets.ing.com/m/202b0b182390e0f0/original/About_DYK_1952-1969.JPG","transformBaseUrl":"https://assets.ing.com/transform/e5e20904-9c9a-4f99-adf1-1a09f69a5b65/About_DYK_1952-1969"},"richBody":{"value":"
In 1962, Banque de Bruxelles took over the Handelsbank, which had its head office at 6 Place Royale in Brussels, and today the ING Art center is located there.
"},"title":"Did you know..."}],"componentType":"accordion"}]},"hasMacro":false,"id":"deacacf9-8fc1-4381-a533-03248f70be0c","localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"History","url":"/en/individuals/about-us/history"}},"componentType":"productHeader","coreHeader":{"headerImage":{"extension":"jpg","original":"https://assets.ing.com/m/619eddee9b53f7db/original/About_1871-1969_Pic1.jpg","transformBaseUrl":"https://assets.ing.com/transform/6eaf7fbb-9aee-4995-a8b0-b1cc9f297c82/About_1871-1969_Pic1","type":"image","width":940},"title":"ING Belgium: 150 years back in time - Period 1871-1969"}},"publishDate":"2024-08-29T13:31:32.890+02:00"}}