Luxembourg banking insights 2025

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Strong foundations, brighter outlook: Luxembourg banks thrive amid change

Luxembourg’s banking sector hit record pre-tax profits of EUR 9.8 billion in 2024, following a 45% surge in 2023. This was driven largely by high ECB interest rates that boosted net interest income. Commission income also rose by 9.4%, supported by growing assets under custody. With expenses stabilizing and the cost-income ratio improving to 46%, the sector remains strong.

However, falling interest rates, stricter regulations like the DORA framework, and rising cybersecurity risks present new opportunities for adaptation and innovation. As banks adapt through digital transformation and talent acquisition, sustaining this momentum will be key to long-term success.

So how did your bank compare against others? With statistical analyses and data from over 60 of Luxembourg’s banking institutions, we invite you to delve into our data, discover financial trends, and learn about your bank’s positioning against others in Luxembourg’s financial ecosystem.

Key highlights

Listen to our experts discuss the key highlights and challenges of the Luxembourg banking industry in 2024.

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New heights with record profits

In 2024, pre-tax earnings continued to rise, reaching €9.8 billion – more than double the amount recorded in 2020.

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The driving force

Despite falling interest rates, banks effectively leveraged the elevated rate environment earlier in 2024, alongside growth in commission income.

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Stable decline in cost-income ratio

Banks were able to further reduce the cost-income ratio from 48% in 2023 to 46% in 2024.

"The financial center will be more digital, more diversified, and even more international – in every area which Luxembourg is renowned.”

— Gilles Roth, Luxembourg's Minister of Finance

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Photo: ©François Barnich / Talk2u

Banking insights

Delve deep into the key trends, challenges and opportunities shaping the banking sector in Luxembourg.

Evolution of the Luxembourg banking industry

What changed in 2024? Explore KPMG’s annual analysis of the banking market, based on statistical and annual accounts data.

How international are Luxembourg banks?

Our overview of the banking market shows just how international Luxembourg's banking industry truly is

Banking performance indicators

Benchmark your bank by deep-diving into balance sheet and P&L data, together with performance indicators, for each bank type.

Interactive bank rankings

Get the most from our banking insights report by filtering the data by factors that interest you.

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Total assets
Amount owed to customers
Equity
Net interest income
Net fee and commission income
Profit for the financial year
Staff

Total assets (€ million)
Bank	2024	2023	% change
Advanzia Bank S.A.	4473.84	4155.61	7.66%
Agricultural Bank of China (Luxembourg) S.A.	67.15	61.27	9.59%
Andbank Luxembourg S.A.	449.19	465.21	-3.44%
Banco Bradesco Europa S.A.	1868.60	1309.22	42.73%
Bank GPB International S.A.	1176.16	1949.12	-39.66%
Bank Julius Baer Europe S.A.	3522.90	3623.27	-2.77%
Bank of China (Europe) S.A.	8413.86	9280.74	-9.34%
Bank of Communications (Luxembourg) S.A.	1236.15	1014.79	21.81%
Banking Circle S.A.	4330.22	3473.48	24.67%
Bankinter Luxembourg S.A.	827.31	802.52	3.09%
Banque de Luxembourg S.A.	14011.22	14101.74	-0.64%
Banque de Patrimoines Privés S.A.	799.13	666.08	19.98%
Banque Degroof Petercam Luxembourg S.A.	2553.74	2715.20	-5.95%
Banque et Caisse d'Epargne de l'Etat, Luxembourg	57155.30	56324.16	1.48%
Banque Havilland S.A.		723.85	N/A
Banque Internationale à Luxembourg S.A.	30743.98	30535.26	0.68%
Banque J. Safra Sarasin (Luxembourg) SA	8073.70	9111.59	-11.39%
Banque Raiffeisen Société Coopérative	11446.26	10764.85	6.33%
Banque Transatlantique Luxembourg S.A.	984.18	976.21	0.82%
BEMO EUROPE - BANQUE PRIVEE S.A.	328.18	292.83	12.07%
BGL BNP Paribas S.A.	53234.20	52656.40	1.10%
BPER Bank Luxembourg SA	873.85	970.02	-9.91%
Brown Brothers Harriman (Luxembourg) S.C.A.	164.71	135.30	21.74%
BTG Pactual Europe S.A.	656.68	248.68	164.07%
CA Indosuez Wealth (Europe) S.A.	11480.50	16458.07	-30.24%
CACEIS INVESTOR SERVICES BANK S.A.		15480.97	N/A
CaixaBank Wealth Management Luxembourg S.A.	647.91	518.87	24.87%
China Construction Bank (Europe) S.A.	2983.50	3655.98	-18.39%
China Everbright Bank (Europe) S.A.	149.07	186.02	-19.87%
China Merchants Bank (Europe) S.A.	373.90	117.23	218.95%
CIBC Capital Markets (Europe) SA	2270.47	1623.04	39.89%
Clearstream Banking S.A.	18164.55	17084.82	6.32%
Clearstream Fund Centre S.A.	513.80	482.26	6.54%
Commerzbank Finance & Covered Bond S.A.	6419.33	5347.97	20.03%
Crédit Suisse (Luxembourg) S.A.		5450.72	N/A
Delen Private Bank Luxembourg S.A.	1400.77	1054.01	32.90%
Deutsche Bank Luxembourg S.A.	34355.50	32334.34	6.25%
DNB Luxembourg S.A.	2325.03	2407.87	-3.44%
DZ PRIVATBANK S.A.	21093.14	25661.93	-17.80%
Edmond de Rothschild (Europe)	4989.30	4824.61	3.41%
EFG Bank (Luxembourg) S.A.	3461.32	3697.98	-6.40%
Eurobank Private Bank Luxembourg S.A.	3810.71	3056.67	24.67%
European Depositary Bank S.A.	1601.63	1417.99	12.95%
HSBC Private Bank (Luxembourg) S.A.	3046.47	3098.09	-1.67%
Industrial and Commercial Bank of China (Europe) S.A., en abrégé ICBC (Europe) S.A.	7137.76	5074.70	40.65%
ING LUXEMBOURG S.A.	15576.58	16454.49	-5.34%
Intesa Sanpaolo Bank Luxembourg S.A.	24413.17	22172.64	10.10%
Intesa Sanpaolo Wealth Management S.A.	4914.18	3452.13	42.35%
John Deere Bank S.A.	3343.98	3437.89	-2.73%
Lombard Odier (Europe) S.A.	3124.58	2715.04	15.08%
MEDIOBANCA INTERNATIONAL (LUXEMBOURG) S.A.	6903.45	5576.39	23.80%
Mirabaud & Cie (Europe) S.A.	381.89	517.11	-26.15%
Mitsubishi UFJ Investor Services and Banking (Luxembourg) S.A.	7596.02	6007.27	26.45%
Mizuho Trust & Banking (Luxembourg) SA	1203.18	1218.18	-1.23%
Natixis Corporate and Investment Banking Luxembourg	2639.27	3252.49	-18.85%
Nomura Bank (Luxembourg) S.A.	3960.06	4126.33	-4.03%
NORD/LB Luxembourg S.A. Covered Bond Bank S.A.	5569.70	7814.70	-28.73%
Northern Trust Global Services SE	7070.68	7302.16	-3.17%
PayPal (Europe) S.à r.l. et Cie, S.C.A.	10882.92	9972.96	9.12%
Quintet Private Bank (Europe) S.A.	10653.00	10577.00	0.72%
Rakuten Europe Bank S.A.	39.81	56.16	-29.11%
RBS INTERNATIONAL DEPOSITARY SERVICES S.A	18.69	16.57	12.74%
RiverBank S.A.	236.71	255.72	-7.43%
SMBC Nikko Bank (Luxembourg) S.A.	503.19	640.12	-21.39%
Société Générale Capital Market Finance S.A.	13821.07	13140.36	5.18%
Société Générale Financing and Distribution S.A.	131.13	178.04	-26.35%
Société Générale Luxembourg	50211.12	50976.21	-1.50%
Société Nationale de Crédit et d'Investissement	1713.49	1660.74	3.18%
Sumitomo Mitsui Trust Bank (Luxembourg) S.A.	273.99	265.71	3.12%
Swissquote Bank Europe SA	1140.80	790.38	44.34%
UniCredit International Bank (Luxembourg) S.A.	1590.82	1644.61	-3.26%
Union Bancaire Privée (Europe) S.A.	2542.29	2802.68	-9.29%
VP Bank (Luxembourg) S.A.	2017.49	2147.21	-6.04%

Amount owed to customers (€ million)
Bank	2024	2023	% change
Advanzia Bank S.A.	2684.49	2711.10	-0.98%
Agricultural Bank of China (Luxembourg) S.A.	10.00	10.00	0.00%
Andbank Luxembourg S.A.	325.06	301.41	7.85%
Banco Bradesco Europa S.A.	513.90	521.99	-1.55%
Bank GPB International S.A.	521.81	936.89	-44.30%
Bank Julius Baer Europe S.A.	2959.67	3177.39	-6.85%
Bank of China (Europe) S.A.	4070.38	3540.43	14.97%
Bank of Communications (Luxembourg) S.A.	50.00	50.00	0.00%
Banking Circle S.A.	3802.42	3038.96	25.12%
Bankinter Luxembourg S.A.	390.75	519.34	-24.76%
Banque de Luxembourg S.A.	11789.92	11855.46	-0.55%
Banque de Patrimoines Privés S.A.	555.83	449.73	23.59%
Banque Degroof Petercam Luxembourg S.A.	1963.77	1984.70	-1.05%
Banque et Caisse d'Epargne de l'Etat, Luxembourg	42207.15	40142.93	5.14%
Banque Havilland S.A.		273.93	N/A
Banque Internationale à Luxembourg S.A.	18761.71	18455.04	1.66%
Banque J. Safra Sarasin (Luxembourg) SA	4163.44	3850.28	8.13%
Banque Raiffeisen Société Coopérative	10345.95	9596.27	7.81%
Banque Transatlantique Luxembourg S.A.	687.92	704.08	-2.30%
BEMO EUROPE - BANQUE PRIVEE S.A.			N/A
BGL BNP Paribas S.A.	36763.50	36175.50	1.63%
BPER Bank Luxembourg SA	260.45	405.72	-35.81%
Brown Brothers Harriman (Luxembourg) S.C.A.
BTG Pactual Europe S.A.	308.99	34.35	799.56%
CA Indosuez Wealth (Europe) S.A.	8123.14	7635.71	6.38%
CACEIS INVESTOR SERVICES BANK S.A.		8525.49	N/A
CaixaBank Wealth Management Luxembourg S.A.	566.34	442.29	28.05%
China Construction Bank (Europe) S.A.	828.17	362.96	128.17%
China Everbright Bank (Europe) S.A.
China Merchants Bank (Europe) S.A.
CIBC Capital Markets (Europe) SA
Clearstream Banking S.A.	2550.51	1827.06	39.60%
Clearstream Fund Centre S.A.
Commerzbank Finance & Covered Bond S.A.	787.26	805.12	-2.22%
Crédit Suisse (Luxembourg) S.A.		4331.15	N/A
Delen Private Bank Luxembourg S.A.	1087.36	845.86	28.55%
Deutsche Bank Luxembourg S.A.	4184.60	3427.47	22.09%
DNB Luxembourg S.A.	1257.76	1234.12	1.92%
DZ PRIVATBANK S.A.	9308.12	13624.64	-31.68%
Edmond de Rothschild (Europe)	3732.69	3523.30	5.94%
EFG Bank (Luxembourg) S.A.	2984.22	3277.30	-8.94%
Eurobank Private Bank Luxembourg S.A.	2875.05	2304.37	24.77%
European Depositary Bank S.A.	1434.30	1256.11	14.19%
HSBC Private Bank (Luxembourg) S.A.	1900.23	1623.48	17.05%
Industrial and Commercial Bank of China (Europe) S.A., en abrégé ICBC (Europe) S.A.	3761.33	2571.89	46.25%
ING LUXEMBOURG S.A.	12267.79	13429.00	-8.65%
Intesa Sanpaolo Bank Luxembourg S.A.	3304.23	3040.38	8.68%
Intesa Sanpaolo Wealth Management S.A.	3624.40	2969.21	22.07%
John Deere Bank S.A.
Lombard Odier (Europe) S.A.	1206.99	1071.53	12.64%
MEDIOBANCA INTERNATIONAL (LUXEMBOURG) S.A.	62.27	3.02	1965.47%
Mirabaud & Cie (Europe) S.A.	212.05	258.48	-17.96%
Mitsubishi UFJ Investor Services and Banking (Luxembourg) S.A.	4365.62	3452.99	26.43%
Mizuho Trust & Banking (Luxembourg) SA	549.06	532.07	3.19%
Natixis Corporate and Investment Banking Luxembourg	61.92	134.59	-53.99%
Nomura Bank (Luxembourg) S.A.	3243.80	3249.77	-0.18%
NORD/LB Luxembourg S.A. Covered Bond Bank S.A.	1905.20	2066.30	-7.80%
Northern Trust Global Services SE	5007.35	4768.25	5.02%
PayPal (Europe) S.à r.l. et Cie, S.C.A.
Quintet Private Bank (Europe) S.A.	8256.00	8345.00	-1.07%
Rakuten Europe Bank S.A.	1.69	14.43	-88.28%
RBS INTERNATIONAL DEPOSITARY SERVICES S.A
RiverBank S.A.	191.69	199.09	-3.72%
SMBC Nikko Bank (Luxembourg) S.A.	329.79	400.65	-17.69%
Société Générale Capital Market Finance S.A.	12675.76	11831.26	7.14%
Société Générale Financing and Distribution S.A.
Société Générale Luxembourg	23147.95	22565.17	2.58%
Société Nationale de Crédit et d'Investissement	30.00	30.00	0.00%
Sumitomo Mitsui Trust Bank (Luxembourg) S.A.
Swissquote Bank Europe SA	913.53	679.49	34.44%
UniCredit International Bank (Luxembourg) S.A.	653.86	757.57	-13.69%
Union Bancaire Privée (Europe) S.A.	1755.58	1654.44	6.11%
VP Bank (Luxembourg) S.A.	1094.95	1140.62	-4.00%

Equity (€ million)
Bank	2024	2023	% change
Advanzia Bank S.A.	510.10	475.18	7.35%
Agricultural Bank of China (Luxembourg) S.A.	23.63	23.33	1.28%
Andbank Luxembourg S.A.	51.29	50.05	2.47%
Banco Bradesco Europa S.A.	363.72	321.24	13.22%
Bank GPB International S.A.	324.92	327.85	-0.89%
Bank Julius Baer Europe S.A.	277.11	265.10	4.53%
Bank of China (Europe) S.A.	644.26	621.77	3.62%
Bank of Communications (Luxembourg) S.A.	294.71	287.75	2.42%
Banking Circle S.A.	251.21	182.44	37.70%
Bankinter Luxembourg S.A.	95.66	83.91	14.00%
Banque de Luxembourg S.A.	788.89	810.12	-2.62%
Banque de Patrimoines Privés S.A.	68.51	66.36	3.25%
Banque Degroof Petercam Luxembourg S.A.	318.69	292.24	9.05%
Banque et Caisse d'Epargne de l'Etat, Luxembourg	6205.09	5577.75	11.25%
Banque Havilland S.A.		153.48	N/A
Banque Internationale à Luxembourg S.A.	2447.64	2413.37	1.42%
Banque J. Safra Sarasin (Luxembourg) SA	594.53	487.95	21.84%
Banque Raiffeisen Société Coopérative	548.87	521.76	5.20%
Banque Transatlantique Luxembourg S.A.	74.76	74.10	0.88%
BEMO EUROPE - BANQUE PRIVEE S.A.	18.70	16.37	14.22%
BGL BNP Paribas S.A.	6283.50	6145.60	2.24%
BPER Bank Luxembourg SA	83.46	77.10	8.25%
Brown Brothers Harriman (Luxembourg) S.C.A.	133.91	109.51	22.28%
BTG Pactual Europe S.A.	211.85	62.79	237.42%
CA Indosuez Wealth (Europe) S.A.	587.47	532.56	10.31%
CACEIS INVESTOR SERVICES BANK S.A.		1087.27	N/A
CaixaBank Wealth Management Luxembourg S.A.	57.75	48.63	18.57%
China Construction Bank (Europe) S.A.	526.59	512.32	2.79%
China Everbright Bank (Europe) S.A.	20.54	20.51	0.14%
China Merchants Bank (Europe) S.A.	87.73	90.31	-2.86%
CIBC Capital Markets (Europe) SA	901.31	857.63	5.09%
Clearstream Banking S.A.	1729.49	1638.62	5.55%
Clearstream Fund Centre S.A.	380.70	319.53	19.14%
Commerzbank Finance & Covered Bond S.A.	1086.80	1070.06	1.59%
Crédit Suisse (Luxembourg) S.A.		532.46	N/A
Delen Private Bank Luxembourg S.A.	201.09	138.81	44.87%
Deutsche Bank Luxembourg S.A.	4970.24	4984.54	-0.29%
DNB Luxembourg S.A.	144.25	144.59	-0.23%
DZ PRIVATBANK S.A.	1288.10	1230.50	4.68%
Edmond de Rothschild (Europe)	205.76	246.13	-16.40%
EFG Bank (Luxembourg) S.A.	268.40	262.53	2.23%
Eurobank Private Bank Luxembourg S.A.	335.87	305.47	9.95%
European Depositary Bank S.A.	111.79	97.59	14.55%
HSBC Private Bank (Luxembourg) S.A.	223.62	236.35	-5.38%
Industrial and Commercial Bank of China (Europe) S.A., en abrégé ICBC (Europe) S.A.	456.61	434.80	5.02%
ING LUXEMBOURG S.A.	1199.83	1285.85	-6.69%
Intesa Sanpaolo Bank Luxembourg S.A.	2672.46	2567.60	4.08%
Intesa Sanpaolo Wealth Management S.A.	269.77	249.46	8.14%
John Deere Bank S.A.	576.51	548.62	5.08%
Lombard Odier (Europe) S.A.	152.66	129.73	17.67%
MEDIOBANCA INTERNATIONAL (LUXEMBOURG) S.A.	349.43	355.62	-1.74%
Mirabaud & Cie (Europe) S.A.	26.62	28.35	-6.10%
Mitsubishi UFJ Investor Services and Banking (Luxembourg) S.A.	736.88	588.96	25.12%
Mizuho Trust & Banking (Luxembourg) SA	118.83	107.42	10.62%
Natixis Corporate and Investment Banking Luxembourg	744.69	740.61	0.55%
Nomura Bank (Luxembourg) S.A.	372.64	371.00	0.44%
NORD/LB Luxembourg S.A. Covered Bond Bank S.A.	625.70	626.40	-0.11%
Northern Trust Global Services SE	869.34	844.56	2.93%
PayPal (Europe) S.à r.l. et Cie, S.C.A.	1798.80	1327.71	35.48%
Quintet Private Bank (Europe) S.A.	1186.00	1154.00	2.77%
Rakuten Europe Bank S.A.	32.10	37.37	-14.11%
RBS INTERNATIONAL DEPOSITARY SERVICES S.A	15.85	15.27	3.75%
RiverBank S.A.	38.95	50.42	-22.75%
SMBC Nikko Bank (Luxembourg) S.A.	160.98	215.04	-25.14%
Société Générale Capital Market Finance S.A.	158.96	138.36	14.88%
Société Générale Financing and Distribution S.A.	62.60	52.63	18.93%
Société Générale Luxembourg	3324.20	3233.36	2.81%
Société Nationale de Crédit et d'Investissement	1385.92	1333.08	3.96%
Sumitomo Mitsui Trust Bank (Luxembourg) S.A.	56.32	54.37	3.58%
Swissquote Bank Europe SA	100.27	84.58	18.55%
UniCredit International Bank (Luxembourg) S.A.	307.03	307.00	0.01%
Union Bancaire Privée (Europe) S.A.	354.20	347.99	1.78%
VP Bank (Luxembourg) S.A.	109.53	106.99	2.38%

Net interest income (€ million)
Bank	2024	2023	% change
Advanzia Bank S.A.	477.89	384.53	24%
Agricultural Bank of China (Luxembourg) S.A.	0.81	0.45	80%
Andbank Luxembourg S.A.	9.73	9.31	5%
Banco Bradesco Europa S.A.	39.03	40.84	-4%
Bank GPB International S.A.	58.85	49.90	18%
Bank Julius Baer Europe S.A.	58.70	61.50	-5%
Bank of China (Europe) S.A.	85.25	138.87	-39%
Bank of Communications (Luxembourg) S.A.	22.34	20.68	8%
Banking Circle S.A.	80.47	59.25	36%
Bankinter Luxembourg S.A.	10.01	10.42	-4%
Banque de Luxembourg S.A.	175.73	193.12	-9%
Banque de Patrimoines Privés S.A.	7.10	12.08	-41%
Banque Degroof Petercam Luxembourg S.A.	34.19	23.69	44%
Banque et Caisse d'Epargne de l'Etat, Luxembourg	845.41	777.62	9%
Banque Havilland S.A.		11.25	N/A
Banque Internationale à Luxembourg S.A.	475.06	537.43	-12%
Banque J. Safra Sarasin (Luxembourg) SA	122.98	114.80	7%
Banque Raiffeisen Société Coopérative	205.47	202.04	2%
Banque Transatlantique Luxembourg S.A.	7.72	8.76	-12%
BEMO EUROPE - BANQUE PRIVEE S.A.	8.68	9.66	-10%
BGL BNP Paribas S.A.	695.10	661.10	5%
BPER Bank Luxembourg SA	12.36	14.23	-13%
Brown Brothers Harriman (Luxembourg) S.C.A.	1.86	1.16	60%
BTG Pactual Europe S.A.	11.78	2.30	412%
CA Indosuez Wealth (Europe) S.A.	85.40	92.85	-8%
CACEIS INVESTOR SERVICES BANK S.A.		-10.429	N/A
CaixaBank Wealth Management Luxembourg S.A.	11.09	7.21	54%
China Construction Bank (Europe) S.A.	40.06	37.87	6%
China Everbright Bank (Europe) S.A.	0.88	1.62	-46%
China Merchants Bank (Europe) S.A.	4.15	2.62	58%
CIBC Capital Markets (Europe) SA	49.14	33.54	47%
Clearstream Banking S.A.	669.19	555.19	21%
Clearstream Fund Centre S.A.	9.99	6.56	52%
Commerzbank Finance & Covered Bond S.A.	70.18	74.36	-6%
Crédit Suisse (Luxembourg) S.A.		25.76	N/A
Delen Private Bank Luxembourg S.A.	6.81	6.97	-2%
Deutsche Bank Luxembourg S.A.	582.47	533.27	9%
DNB Luxembourg S.A.	26.74	27.90	-4%
DZ PRIVATBANK S.A.	182.74	154.54	18%
Edmond de Rothschild (Europe)	81.81	98.00	-17%
EFG Bank (Luxembourg) S.A.	57.43	60.75	-5%
Eurobank Private Bank Luxembourg S.A.	71.04	66.45	7%
European Depositary Bank S.A.	42.25	29.34	44%
HSBC Private Bank (Luxembourg) S.A.	10.50	-3.03	-446%
Industrial and Commercial Bank of China (Europe) S.A., en abrégé ICBC (Europe) S.A.	20.86	31.31	-33%
ING LUXEMBOURG S.A.	338.28	448.52	-25%
Intesa Sanpaolo Bank Luxembourg S.A.	211.20	176.10	20%
Intesa Sanpaolo Wealth Management S.A.	38.22	40.46	-6%
John Deere Bank S.A.	76.07	72.02	6%
Lombard Odier (Europe) S.A.	25.57	39.84	-36%
MEDIOBANCA INTERNATIONAL (LUXEMBOURG) S.A.	31.89	28.52	12%
Mirabaud & Cie (Europe) S.A.	8.11	10.24	-21%
Mitsubishi UFJ Investor Services and Banking (Luxembourg) S.A.	112.85	88.48	28%
Mizuho Trust & Banking (Luxembourg) SA	25.50	21.34	19%
Natixis Corporate and Investment Banking Luxembourg	48.17	46.31	4%
Nomura Bank (Luxembourg) S.A.	30.69	20.08	53%
NORD/LB Luxembourg S.A. Covered Bond Bank S.A.	44.40	68.51	-35%
Northern Trust Global Services SE	83.40	68.64	22%
PayPal (Europe) S.à r.l. et Cie, S.C.A.	582.58	486.13	20%
Quintet Private Bank (Europe) S.A.	184.59	219.25	-16%
Rakuten Europe Bank S.A.	0.62	0.62	-1%
RBS INTERNATIONAL DEPOSITARY SERVICES S.A	0.23	0.27	-15%
RiverBank S.A.	11.83	11.71	1.%
SMBC Nikko Bank (Luxembourg) S.A.	2.55	1.59	60%
Société Générale Capital Market Finance S.A.	-18.67	-11.38	64%
Société Générale Financing and Distribution S.A.	2.01	-4.76	-142.01%
Société Générale Luxembourg	384.80	350.52	10%
Société Nationale de Crédit et d'Investissement	40.21	31.75	27%
Sumitomo Mitsui Trust Bank (Luxembourg) S.A.	6.30	5.87	7%
Swissquote Bank Europe SA	27.56	22.47	23%
UniCredit International Bank (Luxembourg) S.A.	16.74	16.85	-1%
Union Bancaire Privée (Europe) S.A.	40.54	44.90	-10%
VP Bank (Luxembourg) S.A.	16.98	20.37	-17%

Net fee and commission income (€ million)
Bank	2024	2023	% change
Advanzia Bank S.A.	35.74	50.94	-29.85%
Agricultural Bank of China (Luxembourg) S.A.	5.41	5.61	-3.63%
Andbank Luxembourg S.A.	3.09	2.30	34.31%
Banco Bradesco Europa S.A.	10.20	9.83	3.73%
Bank GPB International S.A.	8.38	7.36	13.83%
Bank Julius Baer Europe S.A.	103.44	83.40	24.04%
Bank of China (Europe) S.A.	9.36	24.40	-61.63%
Bank of Communications (Luxembourg) S.A.	2.08	2.24	-7.13%
Banking Circle S.A.	132.97	59.73	122.60%
Bankinter Luxembourg S.A.	15.11	12.00	25.96%
Banque de Luxembourg S.A.	136.07	135.81	0.19%
Banque de Patrimoines Privés S.A.	18.94	19.05	-0.57%
Banque Degroof Petercam Luxembourg S.A.	47.78	44.33	7.80%
Banque et Caisse d'Epargne de l'Etat, Luxembourg	184.84	157.25	17.14%
Banque Havilland S.A.		10.50	N/A
Banque Internationale à Luxembourg S.A.	204.27	212.02	-3.66%
Banque J. Safra Sarasin (Luxembourg) SA	69.64	58.86	18.32%
Banque Raiffeisen Société Coopérative	34.32	32.83	4.54%
Banque Transatlantique Luxembourg S.A.	10.02	7.52	33.22%
BEMO EUROPE - BANQUE PRIVEE S.A.	4.62	4.44	4.14%
BGL BNP Paribas S.A.	176.30	169.60	3.95%
BPER Bank Luxembourg SA	5.71	6.12	-6.62%
Brown Brothers Harriman (Luxembourg) S.C.A.	130.88	118.84	10.13%
BTG Pactual Europe S.A.	4.52	1.23	266.42%
CA Indosuez Wealth (Europe) S.A.	93.26	85.83	8.66%
CACEIS INVESTOR SERVICES BANK S.A.		154.89	N/A
CaixaBank Wealth Management Luxembourg S.A.	16.09	9.06	77.69%
China Construction Bank (Europe) S.A.	26.38	19.74	33.66%
China Everbright Bank (Europe) S.A.	2.68	6.25	-57.07%
China Merchants Bank (Europe) S.A.	1.18	0.12	852.15%
CIBC Capital Markets (Europe) SA	40.13	22.35	79.58%
Clearstream Banking S.A.	798.19	733.81	8.77%
Clearstream Fund Centre S.A.	2.48	0.22	1026.82%
Commerzbank Finance & Covered Bond S.A.	-0.34	0.49	-168.92%
Crédit Suisse (Luxembourg) S.A.		72.33	N/A
Delen Private Bank Luxembourg S.A.	94.82	93.27	1.66%
Deutsche Bank Luxembourg S.A.	-36.75	-23.03	59.58%
DNB Luxembourg S.A.	3.44	3.99	-13.97%
DZ PRIVATBANK S.A.	168.14	154.46	8.86%
Edmond de Rothschild (Europe)	71.01	58.45	21.49%
EFG Bank (Luxembourg) S.A.	50.25	44.44	13.09%
Eurobank Private Bank Luxembourg S.A.	14.21	7.51	89.15%
European Depositary Bank S.A.	51.48	46.01	11.88%
HSBC Private Bank (Luxembourg) S.A.	31.99	26.84	19.19%
Industrial and Commercial Bank of China (Europe) S.A., en abrégé ICBC (Europe) S.A.	34.86	32.71	6.59%
ING LUXEMBOURG S.A.	97.22	103.13	-5.73%
Intesa Sanpaolo Bank Luxembourg S.A.	67.30	45.50	47.91%
Intesa Sanpaolo Wealth Management S.A.	45.88	43.96	4.38%
John Deere Bank S.A.	3.37	3.97	-15.25%
Lombard Odier (Europe) S.A.	72.16	63.02	14.49%
MEDIOBANCA INTERNATIONAL (LUXEMBOURG) S.A.	0.39	10.04	-96.15%
Mirabaud & Cie (Europe) S.A.	27.49	23.23	18.33%
Mitsubishi UFJ Investor Services and Banking (Luxembourg) S.A.	86.29	79.09	9.10%
Mizuho Trust & Banking (Luxembourg) SA	35.34	34.52	2.37%
Natixis Corporate and Investment Banking Luxembourg	-0.16		N/A
Nomura Bank (Luxembourg) S.A.	53.85	55.84	-3.57%
NORD/LB Luxembourg S.A. Covered Bond Bank S.A.	-22.58	-31.74	-28.85%
Northern Trust Global Services SE	251.31	238.59	5.33%
PayPal (Europe) S.a r.l. et Cie, S.C.A.	339.14	335.75	1.01%
Quintet Private Bank (Europe) S.A.	226.34	244.34	-7.37%
Rakuten Europe Bank S.A.	16.94	16.45	2.99%
RBS INTERNATIONAL DEPOSITARY SERVICES S.A	10.43	8.84	18.04%
RiverBank S.A.	0.85	0.67	27.07%
SMBC Nikko Bank (Luxembourg) S.A.	21.31	20.85	2.20%
Société Générale Capital Market Finance S.A.	26.10	21.84	19.49%
Société Générale Financing and Distribution S.A.	0.19	-1.03	-118.25%
Société Générale Luxembourg	176.24	159.11	10.77%
Société Nationale de Crédit et d'Investissement	-0.34	-0.29	19.21%
Sumitomo Mitsui Trust Bank (Luxembourg) S.A.	5.72	5.82	-1.64%
Swissquote Bank Europe SA	16.38	9.35	75.12%
UniCredit International Bank (Luxembourg) S.A.	6.17	8.13	-24.09%
Union Bancaire Privée (Europe) S.A.	31.83	29.29	8.68%
VP Bank (Luxembourg) S.A.	20.81	20.08	3.61%

Profit for the financial year (€ million)
Bank	2024	2023	% change
Advanzia Bank S.A.	150.90	97.50	54.77%
Agricultural Bank of China (Luxembourg) S.A.	0.30	0.50	-40.37%
Andbank Luxembourg S.A.	6.62	6.04	9.52%
Banco Bradesco Europa S.A.	22.04	16.51	33.45%
Bank GPB International S.A.	1.87	6.14	-69.59%
Bank Julius Baer Europe S.A.	40.15	38.93	3.13%
Bank of China (Europe) S.A.	22.81	68.37	-66.64%
Bank of Communications (Luxembourg) S.A.	6.69	7.77	-13.89%
Banking Circle S.A.	67.33	12.74	428.43%
Bankinter Luxembourg S.A.	11.75	13.82	-14.96%
Banque de Luxembourg S.A.	79.39	75.69	4.89%
Banque de Patrimoines Privés S.A.	3.02	6.86	-55.96%
Banque Degroof Petercam Luxembourg S.A.	27.92	-4.21	-762.67%
Banque et Caisse d'Epargne de l'Etat, Luxembourg	400.37	400.78	-0.10%
Banque Havilland S.A.		-7.83	N/A
Banque Internationale à Luxembourg S.A.	169.79	201.77	-15.85%
Banque J. Safra Sarasin (Luxembourg) SA	106.58	88.09	20.99%
Banque Raiffeisen Société Coopérative	28.06	43.87	-36.04%
Banque Transatlantique Luxembourg S.A.	5.15	4.92	4.74%
BEMO EUROPE - BANQUE PRIVEE S.A.	2.33	4.13	-43.64%
BGL BNP Paribas S.A.	498.80	437.20	14.09%
BPER Bank Luxembourg SA	6.36	9.33	-31.83%
Brown Brothers Harriman (Luxembourg) S.C.A.	44.90	40.94	9.68%
BTG Pactual Europe S.A.	-0.94	-3.41	-72.40%
CA Indosuez Wealth (Europe) S.A.	-29.28	19.56	-249.74%
CACEIS INVESTOR SERVICES BANK S.A.		24.35	N/A
CaixaBank Wealth Management Luxembourg S.A.	9.12	1.93	373.22%
China Construction Bank (Europe) S.A.	11.60	17.14	-32.32%
China Everbright Bank (Europe) S.A.	1.16	4.75	-75.63%
China Merchants Bank (Europe) S.A.	-2.59	-3.89	-33.46%
CIBC Capital Markets (Europe) SA	61.08	37.73	61.88%
Clearstream Banking S.A.	696.88	610.52	14.15%
Clearstream Fund Centre S.A.	80.19	25.87	210.03%
Commerzbank Finance & Covered Bond S.A.	16.64	14.13	17.70%
Crédit Suisse (Luxembourg) S.A.		-0.45	N/A
Delen Private Bank Luxembourg S.A.	137.59	75.44	82.38%
Deutsche Bank Luxembourg S.A.	277.45	290.92	-4.63%
DNB Luxembourg S.A.	12.66	14.94	-15.22%
DZ PRIVATBANK S.A.	87.56	86.88	0.79%
Edmond de Rothschild (Europe)	14.47	52.82	-72.60%
EFG Bank (Luxembourg) S.A.	45.26	63.62	-28.86%
Eurobank Private Bank Luxembourg S.A.	40.39	33.54	20.44%
European Depositary Bank S.A.	16.70	19.84	-15.79%
HSBC Private Bank (Luxembourg) S.A.	-18.00	-17.59	2.32%
Industrial and Commercial Bank of China (Europe) S.A., en abrégé ICBC (Europe) S.A.	21.81	25.70	-15.13%
ING LUXEMBOURG S.A.	163.385	262.85	-37.84%
Intesa Sanpaolo Bank Luxembourg S.A.	210.03	131.26	60.02%
Intesa Sanpaolo Wealth Management S.A.	19.25	12.27	56.90%
John Deere Bank S.A.	24.94	19.71	26.54%
Lombard Odier (Europe) S.A.	12.92	23.11	-44.08%
MEDIOBANCA INTERNATIONAL (LUXEMBOURG) S.A.	19.70	18.59	5.97%
Mirabaud & Cie (Europe) S.A.	-1.60	-1.22	30.95%
Mitsubishi UFJ Investor Services and Banking (Luxembourg) S.A.	110.45	88.58	24.69%
Mizuho Trust & Banking (Luxembourg) SA	4.57	10.36	-55.85%
Natixis Corporate and Investment Banking Luxembourg	25.97	35.04	-25.89%
Nomura Bank (Luxembourg) S.A.	32.13	31.00	3.66%
NORD/LB Luxembourg S.A. Covered Bond Bank S.A.	-9.42	-16.55	-43.09%
Northern Trust Global Services SE	66.78	42.69	56.43%
PayPal (Europe) S.à r.l. et Cie, S.C.A.	372.65	287.49	29.62%
Quintet Private Bank (Europe) S.A.	32.47	43.04	-24.55%
Rakuten Europe Bank S.A.	-5.27	-4.66	13.19%
RBS INTERNATIONAL DEPOSITARY SERVICES S.A	0.57	1.14	-49.77%
RiverBank S.A.	-11.47	-1.68	583.54%
SMBC Nikko Bank (Luxembourg) S.A.	3.59	35.69	-89.93%
Société Générale Capital Market Finance S.A.	0.67	0.08	691.88%
Société Générale Financing and Distribution S.A.	11.66	1.78	553.54%
Société Générale Luxembourg	653.73	324.35	101.55%
Société Nationale de Crédit et d'Investissement	52.84	58.42	-9.55%
Sumitomo Mitsui Trust Bank (Luxembourg) S.A.	2.44	4.13	-40.97%
Swissquote Bank Europe SA	18.34	11.25	63.03%
UniCredit International Bank (Luxembourg) S.A.	0.30	1.67	-82.14%
Union Bancaire Privée (Europe) S.A.	11.83	15.88	-25.53%
VP Bank (Luxembourg) S.A.	14.90	8.87	67.87%

Staff (Total number)
Bank	2024	2023	% change
Advanzia Bank S.A.	212	192	10%
Agricultural Bank of China (Luxembourg) S.A.	56	54	4%
Andbank Luxembourg S.A.	43	38	13%
Banco Bradesco Europa S.A.	66.8	59	13%
Bank GPB International S.A.	100	109	-8%
Bank Julius Baer Europe S.A.	402	372	8%
Bank of China (Europe) S.A.			N/A
Bank of Communications (Luxembourg) S.A.	77	69	12%
Banking Circle S.A.	612	497	23.13%
Bankinter Luxembourg S.A.	38	38	0%
Banque de Luxembourg S.A.	1050	992	6%
Banque de Patrimoines Privés S.A.	110	102	8%
Banque Degroof Petercam Luxembourg S.A.	274	299	-8%
Banque et Caisse d'Epargne de l'Etat, Luxembourg	1929	1876	3%
Banque Havilland S.A.		133	N/A
Banque Internationale à Luxembourg S.A.	1827	1888	-3%
Banque J. Safra Sarasin (Luxembourg) SA	249	227	10%
Banque Raiffeisen Société Coopérative	699	672	4%
Banque Transatlantique Luxembourg S.A.	49	43	14%
BEMO EUROPE - BANQUE PRIVEE S.A.	43	40	8%
BGL BNP Paribas S.A.	2089	2100	-1%
BPER Bank Luxembourg SA	38	29	31%
Brown Brothers Harriman (Luxembourg) S.C.A.	369	363	2%
BTG Pactual Europe S.A.	48	34	41%
CA Indosuez Wealth (Europe) S.A.	634	626	1.27%
CACEIS INVESTOR SERVICES BANK S.A.		860	N/A
CaixaBank Wealth Management Luxembourg S.A.	35.9	28.9	24%
China Construction Bank (Europe) S.A.	213	199	7%
China Everbright Bank (Europe) S.A.	6	5	20%
China Merchants Bank (Europe) S.A.	31	22	41%
CIBC Capital Markets (Europe) SA	29	27	7%
Clearstream Banking S.A.	540	518	4%
Clearstream Fund Centre S.A.	126	139	-9%
Commerzbank Finance & Covered Bond S.A.	32	33	-3%
Crédit Suisse (Luxembourg) S.A.		332	N/A
Delen Private Bank Luxembourg S.A.	50	50	0%
Deutsche Bank Luxembourg S.A.	324	348	-7%
DNB Luxembourg S.A.	47	41	15%
DZ PRIVATBANK S.A.	1162	1110	5%
Edmond de Rothschild (Europe)	477	428	11%
EFG Bank (Luxembourg) S.A.	187	186	1%
Eurobank Private Bank Luxembourg S.A.	131	121	8%
European Depositary Bank S.A.	263	267	-1%
HSBC Private Bank (Luxembourg) S.A.	173	174	-1%
Industrial and Commercial Bank of China (Europe) S.A., en abrégé ICBC (Europe) S.A.	346	353	-2%
ING LUXEMBOURG S.A.	924	966	-4%
Intesa Sanpaolo Bank Luxembourg S.A.	169	167	1%
Intesa Sanpaolo Wealth Management S.A.	228	216	6%
John Deere Bank S.A.	154	152	1%
Lombard Odier (Europe) S.A.	224	210	7%
MEDIOBANCA INTERNATIONAL (LUXEMBOURG) S.A.	21	20	5%
Mirabaud & Cie (Europe) S.A.	130	132	-2%
Mitsubishi UFJ Investor Services and Banking (Luxembourg) S.A.	180	173	4%
Mizuho Trust & Banking (Luxembourg) SA	182	185	-2%
Natixis Corporate and Investment Banking Luxembourg	51	49	4%
Nomura Bank (Luxembourg) S.A.	303	301	1%
NORD/LB Luxembourg S.A. Covered Bond Bank S.A.	106	116	-9%
Northern Trust Global Services SE	510	503	1%
PayPal (Europe) S.à r.l. et Cie, S.C.A.	94	101	-7%
Quintet Private Bank (Europe) S.A.	1311	1336	-2%
Rakuten Europe Bank S.A.	79	64	23%
RBS INTERNATIONAL DEPOSITARY SERVICES S.A	36	35	3%
RiverBank S.A.	57	49	16%
SMBC Nikko Bank (Luxembourg) S.A.	89	82	9%
Société Générale Capital Market Finance S.A.	7	5	40%
Société Générale Financing and Distribution S.A.	3	9	-67%
Société Générale Luxembourg	1100	1100	0%
Société Nationale de Crédit et d'Investissement	19	16	19%
Sumitomo Mitsui Trust Bank (Luxembourg) S.A.	34	28	21%
Swissquote Bank Europe SA	79	66	20%
UniCredit International Bank (Luxembourg) S.A.	75	71	6%
Union Bancaire Privée (Europe) S.A.	132	117	13%
VP Bank (Luxembourg) S.A.	99	100	-1%