BIL reports good performance despite challenging environment
Banque Internationale à Luxembourg SA (BIL) announced its financial results for the year 2016
The bank’s retail, corporate & institutional banking, wealth management and financial market activities performed solidly with above market growth rates and an increase of 3% in core operating net income compared to the previous year.
- Core operating net income before tax: EUR 124 million, +3% (EUR 120 million in 2015)
- Assets under management: EUR 37.7 billion, +6.3% (EUR 35.5 billion in 2015)
- Customer deposits: EUR 16.1 billion, +7.4% (EUR 15 billion in 2015)
- Customer loans: EUR 12 billion, +5.9% (EUR 11.4 billion in 2015)
BIL group reports a robust performance in 2016, with a core operating net income before tax of EUR 124 million, a 3% increase compared to the previous year. Net income after tax reached EUR 110 million. The bank continued to attract new clients and increase its market share, both in Luxembourg and internationally. Despite the ongoing low-interest rate environment, customer deposits grew by 7.4% to EUR 16.1 billion. Assets under management increased significantly from EUR 35.5 billion in 2015 to EUR 37.7 billion in 2016. This excellent result can mainly be attributed to inflows of EUR 1.9 billion in the wealth management segment. Customer loans increased to EUR 12 billion, proof of BIL’s ongoing support of the national economy. These figures will be submitted to BIL’s annual general meeting of shareholders on 28 April 2017.
Luc Frieden, Chairman of the Board of Directors of BIL Group, commented: “Thanks to our clear strategic goals, the dedication of our employees, the trust of our clients and the support of our shareholders - Precision Capital and the Grand Duchy of Luxembourg - BIL reports a steady growth and is well positioned for the years to come.”
The bank's solid financial position was acknowledged by rating agencies: In October 2016, Moody’s Investors Service upgraded the long-term deposit, issuer and senior unsecured debt ratings from A3 to A2, with a positive outlook. The quality of the bank’s services was also recognised more generally in the financial industry: BIL was named Bank of the Year 2016 – Luxembourg by leading financial magazine The Banker, Best Bank in Luxembourg 2017 by Global Finance magazine and Best Private Bank for Super Affluent Clients in Luxembourg in Euromoney’s Private Banking Survey 2017.
“We are pleased with our performance in 2016 - despite a challenging environment, we experienced growth across all business areas. Our BIL2020 strategy, which focuses on innovation and the constant adaptation of our value proposition to the changing needs of our clients, is bearing fruit.” concluded BIL CEO Hugues Delcourt.
Communiqués liés
Réseau ETRE est le nouveau lauréat du Degroof Petercam Fou...
Réseau ETRE remporte la sixième édition du Degroof Petercam Foundation Award....
Le Groupe ALIPA accueille une étudiante dans le cadre du Jo...
ALIPA Group, spécialiste du levage et de l’emballage industriel, a accueilli ...
Quintet lance le premier d’une série de nouveaux fonds e...
La banque privée européenne lance un fonds d’actions américaines sous gesti...
Gcore opens the first H100-based data center in Korea - Part...
Gcore the global edge AI, cloud, network, and security solutions provider, will ...
ALD Automotive Luxembourg devient Ayvens
ALD Automotive / Leaseplan dévoile aujourd'hui Ayvens, sa nouvelle marque de mo...
Eurasian Resources Group to Donate 500 Million Tenge to Floo...
Eurasian Resources Group (ERG), a leading diversified natural resources group he...
Il n'y a aucun résultat pour votre recherche