| BIL supports The Office, a co-working space in Luxembourg | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-supports-the-office-a-co-working-space-in-luxembourg.aspx | BIL supports The Office, a co-working space in Luxembourg | | <p>A keen actor in the development of the Luxembourg start-up ecosystem, BIL has decided to support The Office, a new start-up office space in the heart of Luxembourg City. Opened in November 2016, The Office offers co-working places in several different spaces within a rejuvenated industrial building. Entrepreneurs can also make use of meeting rooms, break areas and a café. The layout of the premises, added to regular events encourage interaction between entrepreneurs and help create a true The Office spirit!</p>
<p>‘’<i>We have founded The Office to create a true co-working space in the city center, supporting start-ups and newly founded innovators with a creative and unconventional office infrastructure. The Office is a start-up itself, thus BIL's support came in the perfect moment to complete pending works and to further get our offering to the market. We appreciate BIL as a true partner inspiring to further develop our path of bringing a new wave of entrepreneurship to the Grand-Duchy</i>”, said Gosia Kramer, Managing partner of The Office. </p>
<p>Pierre-Olivier Rotheval, Head of Innovation and Marketing at BIL added: “<i>We keep an eye on all the initiatives likely to contribute to the development of the start-up ecosystem in Luxembourg, in order to build a Start-up Nation. We were impressed by The Office, which provides entrepreneurs with flexible workspace solutions</i>”.</p>
<p>Through this partnership, the bank will be able to help the start-ups it works with to find a workspace. This partnership with The Office is part of a concerted effort to promote innovation and entrepreneurship in Luxembourg. BIL is already a partner of the country’s main incubators and supports many start-ups. Its BIL Start support service gives start-up entrepreneurs access to the various financing programmes in which the bank participates. BIL is a stakeholder in the Digital Tech Fund, launched by the Ministry of the Economy in 2016. In July 2015, BIL became the first Luxembourg bank to sign the InnovFin guarantee agreement for innovative SMEs as part of the European Fund for Strategic Investments (EFSI). Besides these financing solutions, the bank will be able to enhance its range of services by providing workspaces at The Office.</p>
| 8/8/2017 9:00:00 AM | | |
| News | https://www.bil.com/en/bil-group/pressroom/news | News | | <p>Marco Robbertsen will manage the team responsible for Western residents in Dubai. In addition, he will be in charge of European private banking services. He will report directly to Patrick Casters, CEO of BIL Dubai. Marco has 16 years of experience in private banking, both in Europe and Asia. Prior to joining BIL, he was Head of Wealth Management - South Netherlands for Deutsche Bank AG. He also worked as a senior private banker for Credit Suisse and ABN AMRO in Singapore.</p>
<p>“<i>Marco has extensive experience in servicing UHNW clients in Europe and Asia. This experience will be a valuable asset in strengthening our business in this key region for BIL group. We are proud to add new talents to our BIL Dubai team, enhancing dynamism and client focus.</i>” commented Patrick Casters, CEO of BIL Dubai.</p>
<p>In addition to Marco Robbertsen, BIL has also recruited two experienced relationship managers. Raj Sachdev, who worked previously at National Bank of Abu Dhabi and Citi International Personal Bank, will join the International team. Sunayna Sarswat, private banker at the National Bank of Abu Dhabi prior to joining BIL, will join the team in charge of non-resident Indian clients.</p>
<p>BIL inaugurated its Dubai branch in March 2015. It serves to reinforce the close economic ties between Luxembourg and the UAE, especially in view of the development of Luxembourg’s financial centre into the main hub for Islamic finance in Europe. Luxembourg is already the main domicile for Sharia-compliant funds in Europe, and the third most important worldwide.</p>
| 7/24/2017 1:00:00 PM | | |
| BIL IMMOindex: the housing market is more buoyant than ever | https://www.bil.com/en/bil-group/pressroom/news/Pages/bil-immoindex-the-housing-market-is-more-buoyant-than-ever.aspx | BIL IMMOindex: the housing market is more buoyant than ever | | <div class="grid-adaptive small clear-div">
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<p>The BIL IMMO<i>index</i> increased from +1.58 in the second quarter of 2016 to +1.80<sup>1</sup> in Q4. At +0.87 in Q4 2015, it more than doubled in a year. This rise reflects a nationwide housing market rally begun at the start of 2016 and continued throughout the year, slightly gaining momentum in the process.
<br>The reasons for the renewed rise in the index include a sustained climb in housing prices (+7.7% between Q4 2015 and Q4 2016), the credit boom (+25.4% increase in the volume of mortgage loans compared to end-2015) and, to a lesser extent, a robust construction sector (+5.7% year-on-year growth in Q4 2016).</p>
<p>“<i>The index more than doubled between end-2015 and end-2016, powered by rising housing prices and the credit boom. Although it is on the verge of overheating, the market’s ascent is underpinned by solid fundamentals: a growing population and a robust national economy. An increase on the supply side, rather than a decrease in demand, would serve to slow the rise and help move the IMMO<i>index</i> closer to an equilibrium,</i>” explains Marcel Leyers, Chief of Corporate and Institutional Banking at BIL.</p>
<p>Launched in October 2015 and developed by BIL in partnership with PwC Luxembourg, the BIL IMMO<i>index</i> is an indicator of housing market trends in Luxembourg for professional, institutional and retail investors.</p>
<p>Updated regularly and published every six months, the index is based on price changes on the selling and rental markets, as well as factors underlying supply and demand such as the national economy, construction activity and demographic change. A total of seven ratios are integrated to produce the BIL IMMO<i>index</i>, a clear indicator that gives an overview of Luxembourg housing market in the last 35 years.</p>
<p>The complete analysis for each region of Luxembourg is available at <a href="{%BIL_Internet_Root_URL_Luxembourg%}/immoindex/index-en.html">www.bil.com/immoindex</a>.</p>
<p><small><sup>1</sup>The index runs on a scale of -3 to +3 and reads the temperature of the market. At +3, the maximum level, the market is thought to be “overheating”. At the other end of the scale, a negative index means that the market is lacklustre, and a level of -3 indicates a stagnant, “frozen” market.</small></p> | 7/18/2017 11:00:00 AM | | |
