Legend Holdings has started a process to sell Banque Internationale à Luxembourg, the Financial Times said, almost 10 years after the Chinese group bought the lender.
The Hong Kong-listed company, also a significant shareholder in Lenovo, is working with Goldman Sachs on the planned disposal of its 90% holding in BIL.
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According to people privy to the matter, first-round offers are expected by the end of this month.
Those bids could imply a valuation of about €2.5bn ($2.8bn) or higher for the group.
The same people said early interest had come from financial institutions in Europe and the Middle East, but stressed that talks were still at an initial stage.
They added that some parties might look only at selected parts of BIL and that an agreement is not assured.
Legend acquired the bank in 2017 from its Qatari owners in a transaction that valued BIL at €1.6bn.
Before that sale, the lender was owned by Precision Capital, an investment firm representing members of Qatar’s ruling family.
Established in 1856, BIL operates in areas including wealth management and corporate banking. The Luxembourg state retains a 10% shareholding.
At the end of 2025, the bank had around €50bn in assets under management, 7% more than a year earlier. Net profit reached €210mn, up 24%.
Reuters reported in March last year that Legend had appointed bankers to review options for the lender.
The move follows other sales by Chinese investors in European financial groups.
Fosun sold its holding in Belgian insurer Ageas in 2024, while Geely disposed of its stake in Denmark’s Saxo Bank to J Safra Sarasin last year.
BIL may attract interest from banks aiming to increase their presence in businesses such as wealth management, the news publication said.
