[3]: 66 In the early 20th century, the Banque d'Anvers, the SGB's affiliate in Antwerp, developed operations in Argentina in relation with local businessman Edouard Bunge.
It opened an office in São Paulo and soon afterwards in Campinas and Santos, then in 1912 in Montevideo and 1914 in Rio de Janeiro and Buenos Aires.
A capital increase in 1913 allowed the Banque Belge pour l'Étranger, another SGB affiliate, to join the group of controlling shareholders.
[6] By 1939, following successive capital increases, the Credito Italiano's stake had been reduced to around 12.5 percent, and the Banque de la Société Générale exercised dominant control.
[8] In 1998, the BEAL's seat moved from downtown Brussels, where it had been domiciled at the former Electrorail Building [fr] since 1964, to a new address at Chaussée de La Hulpe 166.