BANQUE DE BELGIQUE

Banque de Belgique: translation

   The Banque de Belgique was founded by Charles de Brouckère in 1835. Established specifically as a rival to the Société Générale, the bank quickly acquired considerable influence, and competition between the two financial institutions led to the creation of early forms of industrial credit—the first in continental Europe—that, in turn, spawned considerable economic development in Belgium, especially during the periods 1835-1840 and 1870-1914. As headquarters of the banks, Brussels served as the financial center of the country, a status that it would retain throughout the 20th century.