BGL BNP Paribas financial results at 30 June 2018
First half of 2018 characterised by growth in commercial activities
Net banking income was EUR 693.1 million, up 6%
- Retail and Corporate Banking Luxembourg recorded significant 13% growth in average deposits and 9% growth in average loan outstanding compared with the first half of 2017.
- Wealth Management reported strong activity, with 8% growth in assets under management and 7% growth in average loan outstanding.
- Leasing International continued to expand its business in line with its strategy, with average loan outstanding up 16%.
Overheads of EUR 375.2 million
- Overheads remain controlled at constant perimeter. The bank continues to invest in strategic projects dedicated to commercial development and the provision of digital solutions.
Group consolidated net profit excluding minority interests came to EUR 131.2 million
High solvency maintained
- Own funds amounted to EUR 6.1 billion.
- The solvency ratio reached 23.5% (under Basel III rules), well above the regulatory minimum.
Closing of the acquisition of ABN AMRO (Luxembourg) S.A.
- Following the approval by the competent regulatory authorities, the transaction was completed on 3 September 2018. It represents EUR 5.6 billion in assets under management for the Wealth Management activity.
Best Bank in Luxembourg
- Euromoney named BGL BNP Paribas Best Bank in Luxembourg for the third consecutive year.
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