Credit: www.bancamarch.es
On Wednesday 21 October 2026, Spanish bank Banca March announced that it will begin operating through its Luxembourg subsidiary with effect from 1 January 2027, following the acquisition of its own banking licence in the Grand Duchy.
Banca March, which specialises in private banking and corporate advisory services, first established a branch in Luxembourg in 2012. The transformation of this branch into a subsidiary will allow the bank to coordinate its international operations from Luxembourg, including future organic growth and potential business combinations.
The development comes as Banca March, which describes itself as Spain's only fully family-owned bank, celebrates its 100th anniversary in 2026.
The bank's first planned expansion under the new structure will take place in Portugal, where it intends to open a business centre at 12 Praça Duque de Saldanha in Lisbon in early 2027. Banca March Portugal will operate as a branch of the Luxembourg subsidiary.
According to the bank, this structure will facilitate the development and distribution of investment products across the European Union (EU) under the Undertakings for Collective Investment in Transferable Securities (UCITS) regulatory framework.
Banca March said it also plans to expand its range of alternative investment products and distribution channels for its co-investment solutions, which allow clients to invest in the same products as the bank itself.
The Luxembourg subsidiary will support the bank's private banking and wealth management activities, including international wealth planning, portfolio diversification and access to investment opportunities across different markets.
The expansion will also draw on technological developments at Banca March's specialised centre in Palma, Spain. The bank said its platform will bring together clients' financial positions, providing an overview of their investments and allowing them to manage operations across different jurisdictions.
José Manuel Arcenegui, Chairman of Banca March Luxembourg, said: "As a 100% family-owned bank celebrating its centenary this year, with the fourth generation already involved in management, our vision is inherently long-term. The Luxembourg subsidiary provides us with a solid platform to continue expanding the advisory services we offer our clients, with privileged access to international markets. This is a far-reaching strategic move for Banca March. The Luxembourg subsidiary will enable us, through both organic growth and potential business combinations, to extend a banking model that combines solvency, specialisation and local support to new markets and clients. The internationalisation of Banca March's business model reflects a strategic conviction: our value proposition is fully transferable and competitive both within and outside Spain. Our presence in Luxembourg not only broadens Banca March's geographical reach but also strengthens our ability to offer our private banking and wealth management clients high-level solutions in a stable, secure regulatory environment that is highly competitive on a global scale."
