CETREL (50% Stake)

As the leading bank card processor in Luxembourg, C ETREL offers comprehensive solutions for cashless payments. CETREL ensures smooth payment procedures for card issuers as well as card acceptance amount individual merchants. The specialized expert ise that CETREL has accumulated and consistently improved since its founding in 1987 is considered t o be cutting-edge by both VISA and MasterCard. It has enabled the company to win over new customers i n recent years, both within and beyond the borders of Luxembourg. At the same time, CETREL increasingl y offers new and innovative financial IT services to banks and thereby ensures all components of the financial center Luxembourg a clear advantage in international competition. CETREL has been a corpor ation since January 2008 with shares held by the leading banks within the financial center as well a s P &TLuxembourg. With around 180 employees, the company generated sales of over EUR 35 million in t he business year 2007.