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If you have any questions, or would like to meet us or become a client, please contact our banking advisers who will be happy to respond according to your individual requirements.
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If you have any questions, or would like to meet us or become a client, please contact our banking advisers who will be happy to respond according to your individual requirements.
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Learn more about our 2018 financial results in the online version of Overview, our traditional report that presents key facts and figures about the Bank.
Strong net profit in a general context that remains complex
The Bank closed its 2018 financial year with net profit of EUR 62 million, reflecting strong performance from our business activities in an environment still characterised by historically low interest rates. We also strengthened our teams to better serve our clients, advance the Bank’s digital ambitions and ensure that we remain compliant with regulations.
Solvency ratio confirms our solidity
At 31 December 2018, our equity capital was EUR 1 billion. The Common Equity Tier 1 solvency ratio of 25.5% also reflects the Bank’s strong position.
Good results for our five business areas
Good results for Private Banking
All five of our business areas experienced strong commercial growth in 2018.
PRIVATE BANKING
The Private Banking division registered an increase in net income from banking operations under the combined effect of adjustments to its offer to meet MiFID II regulations and an increase in assets under management. Despite lower equity markets in the last quarter of 2018, assets under management remained unchanged at EUR 21.5 billion.
ASSET MANAGEMENT
At 31 December 2018, BLI – Banque de Luxembourg Investments was managing and distributing a range of more than 30 investment funds, with assets totalling EUR 10.5 billion. Nevertheless, 2018 was a difficult year for the equity markets, which underwent a sharp correction at year-end. The decline in equity markets coupled with concerns about the extent of global growth also weighed on the bond market. Most of our investment funds were able to withstand this complicated stock market environment, turning in a healthy performance.
BUSINESSES AND ENTREPRENEURS
At end-2018, the Businesses and Entrepreneurs team was providing advisory services to almost a thousand client groups, with assets under management exceeding EUR 2.4 billion. The department is stepping up its presence on the credit market and aims to become a key player for family businesses in Luxembourg and the Greater Region of Luxembourg.
LOANS AND CREDITS
In 2018 we continued to support our clients in both the private and professional domains with their personal projects. Loans to clients stood at EUR 3.1 billion, representing annual growth of 13.4%.
PROFESSIONAL BANKING
Assets administered by our Professional Banking department rose to EUR 56.7 billion at end-2018. The department, which provides support to corporate clients in the asset management sector, saw steady growth in its business, both in terms of investment fund services and services to independent asset managers and life insurance companies. These results are a further indication that the market sees the Bank as a major player and specialist in professional banking services.
The Private Banking division registered an increase in net income from banking operations under the combined effect of adjustments to its offer to meet MiFID II regulations and an increase in assets under management. Despite lower equity markets in the last quarter of 2018, assets under management remained unchanged at EUR 21.5 billion.
