100 Francs/Frang Type 1981

Bradbury Wilkinson's output for smaller European institutions in this period tends to be underappreciated — the New Malden facility handled an enormous range of private and central bank commissions, and the Banque Internationale à Luxembourg work sits comfortably in that tradition. The BIL, founded in 1856, was Luxembourg's oldest bank and remained privately chartered rather than operating as a central bank, making this note a commercial bank issue rather than a state emission — a distinction that matters for classification purposes.

Watermark-only security reflects the relatively modest circulation expectations for a private institution's notes by 1981, when electronic interbank settlement was rapidly reducing the practical need for physical paper in commercial transactions.