The bank benefited from financial aid a decade ago, and said it was prepared to repay the favour after reporting profits of 345 million euros in 2019.

The group presented 2019's results by conference call for their remote general assembly.

The figure represents an increase of 4% compared to the previous year, despite the relatively low level of interest rates.

According to management, the bank is fully prepared to help the Luxembourg economy get through the coronavirus crisis, particularly given their profitable results in recent years.

In 2008, the government invested a substantial amount in the bank - the group is now hoping to reciprocate.

About 800 of the bank's 2,400 employees are working remotely, while 700 others are on hold and remain ready to intervene if necessary.