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Staying resilient in a challenging macroeconomic context<\u002fstrong>\n2023 was a complex year, be it for its geopolitical challenges, macroeconomic events or for BIL specific development. After the robust post-pandemic expansion in 2021 and 2022, the economy lost momentum in 2023. Europe faced multiple macroeconomic challenges, induced by on-going conflict in Eastern Europe and in the Middle East. The rate hike campaigns launched in 2022 by monetary authorities to curb inflation reached a peak during the second half of 2023. In the eurozone, higher interest rates had the effect of reducing the financing capacity of households and businesses, thus contributing to the slowdown of economic activity. In Luxembourg, construction has been affected by the current downturn in the real estate sector and as a consequence, slowed down lending activity. In such a challenging environment, the Bank is committed to support its clients and to offer adapted solutions to their projects and situation. <\u002fp>\n\n

Implementation of a new core banking system to enhance services<\u002fstrong>\nIn this ever-changing business environment, BIL has risen to these external challenges by staying on track of its transformation and, embracing emerging trends, new technologies and evolving market dynamics to build long-term sustainable growth. In 2023, BIL successfully completed the changeover of its Core Banking System, a project of unprecedented scale, while continuing to cater to clients\u2019 needs. BIL has now a strong foundation to develop new services and to improve client experience for the years to come. <\u002fp>\n\n

Sound performance of commercial activities <\u002fstrong>\nBIL Group reported a net income after tax of 202 million euros, driven by solid revenue growth, partly offset by an increase in expenses and cost of risk. This good financial performance can be attributed to the Bank\u2019s business resilience and a solid risk management culture. Customer deposits, standing at 18.5 billion euros decreased mainly due to clients moving their deposits to higher return investments and proceeding to the early repayment of their variable rate loans in the context of higher interest rates. Customer loans, at 16.3 billion euros are stable compared to last year, due to the combined effect of a significant slowdown in mortgage loan production in Luxembourg and early mortgage loan repayments which continued throughout the second half of 2023. In the past year, domestic market housing demand has been hard hit by rapidly rising interest rates, coupled with a sharp reduction in construction activity caused by the downturn in the real estate sector and rising raw material costs. Assets under Management amounted to EUR 43.8 billion compared with EUR 43.5 billion at year-end 2022, up by +0.7%. \nAt the end of 2023, BIL showcased sound asset quality and strong capital and liquidity indicators. Its CET- 1 ratio stood at 14.41% after profit allocation compared with 14.03% in 2022, and its Liquidity Coverage Ratio also improved compared to 2022, at 174% versus 153%.\n<\u002fp>\n\n

2024, ready for the future<\u002fstrong>\nAs the global economy is changing rapidly, in 2024, BIL's primary focus will be on its clients: fostering robust relationships, reaching a higher level of quality of service and constantly adapting the value proposition to their needs.\nThe Bank will remain focused on the implementation of the key initiatives of its 2020-2025 strategic plan, whose purpose is to be fit for the future: <\u002fp>\n

By continuing to enhance its diversified business model .<\u002fli>\n
By leveraging its new Core Banking System to drive future growth. This solid foundation will allow the Bank to develop new and improved services, combining the best of digital and physical.<\u002fli>\n
By strengthening and simplifying its operations. Thanks to its new target operating model, BIL will create a robust and dynamic bank ready to face the future with confidence<\u002fli><\u002ful>\n\n
Marcel Leyers, CEO of BIL, commented: \" Our 2023 performance confirms the relevance of our strategic choices and of our comprehensive and loyal response to the needs of all our clients, be they individuals, entrepreneurs, and businesses. In 2024 and for the years to come, BIL will continue to be the reliable partner it has always been.\u201d<\u002fp>\n\n
BIL\u2019s annual report is available here<\u002fa><\u002fp>","BILInternetPublicationDate":"\/Date(1713960000000)\/","BILInternetLanguage":"EN","Description":"Lors de l\u2019Assembl\u00e9e g\u00e9n\u00e9rale qui s\u2019est tenue le 24 avril 2024, les actionnaires ont approuv\u00e9 les r\u00e9sultats financiers 2023 de la Banque Internationale \u00e0 Luxembourg (BIL). La Banque a enregistr\u00e9 une tr\u00e8s bonne performance au cours d\u2019une ann\u00e9e marqu\u00e9e pa...","FileExtension":"aspx","SecondaryFileExtension":"aspx","OriginalPath":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002f2023-une-annee-de-transition-et-de-transformation.aspx","PartitionId":"\/Guid(0c37852b-34d0-418e-91c6-2ac25af4be5b)\/","UrlZone":2,"AAMEnabledManagedProperties":"AttachmentURI;deeplinks;DefaultEncodingURL;DocumentLink;ExternalMediaURL;HierarchyUrl;OrgParentUrls;OrgUrls;OriginalPath;ParentLink;Path;PictureThumbnailURL;PictureURL;PublishingImage;recommendedfor;ServerRedirectedEmbedURL;ServerRedirectedPreviewURL;ServerRedirectedURL;SiteLogo;SitePath;SPSiteURL;UserEncodingURL","RenderTemplateId":"~sitecollection\u002f_catalogs\u002fmasterpage\u002fDisplay Templates\u002fSearch\u002fItem_Default.js","QueryRuleId":"\/Guid(00000000-0000-0000-0000-000000000000)\/" },{ "Rank":0,"DocId":73168,"Path":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fBIL-is-joining-forces-with-the-FinTech-EDEBEX-to-offer-a-new-invoice-factoring-solution-to-businesses-and-the-self-employed.aspx","Title":"BIL is joining forces with the FinTech EDEBEX to offer a new invoice factoring solution to businesses and the self-employed","BILInternetContent":"
By opting for BIL\u2019s invoice factoring solution, in partnership with the FinTech Edebex, businesses can accelerate their cash flow. All B2B companies, regardless of their size or business sector, can access it. What matters is the quality of the invoices sold on the Edebex platform. Companies sell their invoices before their due date, which allows them to have access to their money faster without having to deal with debt recovery. This solution supplements the usual cash management services offered by BIL, such as personal loans.<\u002fp>\n\n
Jeffrey Dentzer, Deputy CEO of BIL states:\n
\u201cAt BIL, we understand the crucial role businesses play in our economy. For that reason, we are committed to developing innovative financial solutions, such as our new invoice factoring solution, in partnership with Edebex. This solution offers businesses and the self-employed quick and efficient access to a new source of cash, thus illustrating our ongoing commitment to supporting SMEs and large businesses in their journey to growth and success.<\u002fi>\u201d<\u002fp>\n\n
Wim De Ridder, Edebex CEO adds:\n
\u201cWe are delighted to have forged this partnership with BIL. Together, we can support BIL\u2019s clients in their search for growth-enabling financial solutions. We are honoured that our bespoke, flexible and accessible offering brings further added value to the portfolio of services already offered by BIL. With more than 10 years of expertise, we are adapting our skills to suit all business areas, thus meeting each need with agility and efficiency.<\u002fi>\u201d<\u002fp>\n\n
To access BIL\u2019s invoice factoring service using the Edebex platform, companies choose which invoices they wish to sell. For an invoice to be eligible, the corresponding services or products must have been delivered to the client and there must be at least a 30-day period between the date of issuing the invoice and its due date. Finally, creditor clients must be established in a selection of European countries. For BIL, this invoice factoring service is yet another demonstration of its intention to supply innovative solutions that meet the needs of businesses and the self-employed. Full details on the terms and conditions of use of this service can be found at www.bil.com\u002ffactoring<\u002fa><\u002fp>","BILInternetPublicationDate":"\/Date(1709809200000)\/","BILInternetLanguage":"EN","Description":"BIL is announcing the launch of its invoice factoring solution using Edebex\u2019s the platform. This partnership means BIL can propose an innovative cash solution to businesses and the self-employed.","FileExtension":"aspx","SecondaryFileExtension":"aspx","OriginalPath":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fBIL-is-joining-forces-with-the-FinTech-EDEBEX-to-offer-a-new-invoice-factoring-solution-to-businesses-and-the-self-employed.aspx","PartitionId":"\/Guid(0c37852b-34d0-418e-91c6-2ac25af4be5b)\/","UrlZone":2,"AAMEnabledManagedProperties":"AttachmentURI;deeplinks;DefaultEncodingURL;DocumentLink;ExternalMediaURL;HierarchyUrl;OrgParentUrls;OrgUrls;OriginalPath;ParentLink;Path;PictureThumbnailURL;PictureURL;PublishingImage;recommendedfor;ServerRedirectedEmbedURL;ServerRedirectedPreviewURL;ServerRedirectedURL;SiteLogo;SitePath;SPSiteURL;UserEncodingURL","RenderTemplateId":"~sitecollection\u002f_catalogs\u002fmasterpage\u002fDisplay Templates\u002fSearch\u002fItem_Default.js","QueryRuleId":"\/Guid(00000000-0000-0000-0000-000000000000)\/" },{ "Rank":0,"DocId":17239,"Path":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fBIL-strengthens-the-Leadership-of-its-Commercial-Franchises.aspx","Title":"BIL strengthens the Leadership of its Commercial Franchises","BILInternetContent":"\n
Jeffrey Dentzer appointed Deputy Chief Executive Officer<\u002fb><\u002fp>\n
Jeffrey Dentzer will work hand in hand with CEO Marcel Leyers to oversee the on-going transformations and define the next five-year strategic plan of the Bank.\nJeffrey served as Chief of Luxembourg Market & CIB and Member of the Management Board of BIL since January 2020. At this position he was leading the Bank\u2019s three main businesses on its domestic market: Retail Banking, Wealth Management and Corporate and Institutional Banking. Jeffrey is a seasoned Luxembourgish banker with extended experience in commercial and management roles in Luxembourg systemic banks.<\u002fp>\n
Karin Scholtes appointed Chief of Luxembourg Market & CIB<\u002fb><\u002fp>\n
Karin Scholtes will replace Jeffrey Dentzer as the new Chief of Luxembourg Market & CIB. She has been working for BIL since 2014 as Global Head of People, Culture and Communication and Member of the Management Board since 2019. Karin comes with broad experience in people management, marketing and communication in the banking industry. Prior to joining BIL, Karin has worked for 14 years at Pictet & Cie (Europe) S.A.<\u002fp>\n
Claude Eyschen appointed Head of Wealth Management<\u002fb><\u002fp>\n
Claude Eyschen joins BIL from CapitalatWork, where he has been Managing Director for Luxembourg since 2011. With his close to 30 years of experience in private banking and financial services, Claude will lead the Private Banking activities in Luxembourg and European markets as well as the Investment Office.\nClaude is well-known to BIL as he had been its Head of Institutional and Corporate Sales as well as Market Leader for Private Banking from 1995 to 2011.<\u002fp>\n\n
Emilie Serrurier-Ho\u00ebl appointed Head of the CEO Office<\u002fb><\u002fp>\n
Emilie Serrurier-Ho\u00ebl will oversee Human Resources, Corporate Communications, Projects and the Organisation of the Bank. Prior to this role, Emilie Serrurier-Ho\u00ebl was the Head of Wealth management. She has worked for BIL for more than 16 years in various strategic roles such as process management, marketing and strategy, before becoming Head of Wealth Management in 2020. Her excellent understanding and deep knowledge of the Bank will allow her to bring people and processes together, for the benefit of our clients.<\u002fp>\n
\u201cThese appointments underline our commitment to put clients at the heart of everything we do and strike a good balance of new leaders who recently joined BIL, and others who have proven their capacity to lead BIL\u2019s teams over the years.\u201d said Marcel Leyers, CEO of BIL. \u201cAs we start a new chapter of the Bank\u2019s sustainable growth story, the Executive Committee and all our teams at BIL will work on strenghtening our capabilities and services and will ensure that our clients, be they individuals or corporates, remain our priority in the years ahead,\u201d he added.<\u002fp>\n
For more information about BIL\u2019s entire Executive Committee, visit https:\u002f\u002fwww.bil.com\u002f<\u002fa>.<\u002fp>","BILInternetPublicationDate":"\/Date(1704970800000)\/","BILInternetLanguage":"EN","Description":"To prepare for the future and ensure a strong focus on client centricity, Banque Internationale \u00e0 Luxembourg (BIL) is pleased to announce a reinforced team at the level of its Executive Committee, effective as of January 1st.","FileExtension":"aspx","SecondaryFileExtension":"aspx","OriginalPath":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fBIL-strengthens-the-Leadership-of-its-Commercial-Franchises.aspx","PartitionId":"\/Guid(0c37852b-34d0-418e-91c6-2ac25af4be5b)\/","UrlZone":2,"AAMEnabledManagedProperties":"AttachmentURI;deeplinks;DefaultEncodingURL;DocumentLink;ExternalMediaURL;HierarchyUrl;OrgParentUrls;OrgUrls;OriginalPath;ParentLink;Path;PictureThumbnailURL;PictureURL;PublishingImage;recommendedfor;ServerRedirectedEmbedURL;ServerRedirectedPreviewURL;ServerRedirectedURL;SiteLogo;SitePath;SPSiteURL;UserEncodingURL","RenderTemplateId":"~sitecollection\u002f_catalogs\u002fmasterpage\u002fDisplay Templates\u002fSearch\u002fItem_Default.js","QueryRuleId":"\/Guid(00000000-0000-0000-0000-000000000000)\/" },{ "Rank":0,"DocId":23749,"Path":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fSix-major-financial-services-players-in-Luxembourg-join-forces-to-create-a-shared-ATM-network.aspx","Title":"Six major financial services players in Luxembourg join forces to create a shared ATM network","BILInternetContent":"
Spuerkeess<\u002fb>, Banque Internationale \u00e0 Luxembourg<\u002fb>, BGL BNP Paribas<\u002fb>, Banque Raiffeisen<\u002fb>, POST Luxembourg<\u002fb> and ING Luxembourg<\u002fb> aim to provide their clients with access to a broad ATM network with optimal coverage across the Grand Duchy of Luxembourg by 2025.<\u002fp>\n
Management of the network will be entrusted to a new company operating under the Bancomat brand name.<\u002fp>\n
This joint network will make it possible:<\u002fp>\n
\n
To guarantee proximity and access to self-service banking through an optimal and balanced spread of ATMs throughout Luxembourg, in both urban and less densely populated rural areas.<\u002fli>\n
To meet new expectations of individuals, retailers and businesses for self-service banking with state-of-the-art, secure ATMs.<\u002fli>\n
For people with reduced mobility and visual impairments to easily access the ATMs, thanks to lower keyboards and an audio option.<\u002fli>\n
To develop the range of services and functions available on the ATMs.<\u002fli>\n<\u002ful>\n
The new ATMs will also help reduce the network\u2019s carbon footprint:<\u002fp>\n
\n
A recycling function will be integrated: banknotes deposited by clients will be distributed during withdrawals, thereby reducing the need for cash transport.<\u002fli>\n
Their new technology will reduce energy consumption by at least 30% compared with current ATMs.<\u002fli>\n<\u002ful>\n
Pooling the ATM networks of the six partners will not involve any additional costs for clients, who will continue to benefit from the services provided by their bank throughout Luxembourg.<\u002fp>\n\n
Find out more about the progress of this project at: www.bancomat.lu<\u002fa>.<\u002fp>\n\n
Contact: info@bancomat.lu<\u002fa><\u002fp>\n","BILInternetPublicationDate":"\/Date(1700564400000)\/","BILInternetLanguage":"EN","Description":"Spuerkeess, Banque Internationale \u00e0 Luxembourg, BGL BNP Paribas, Banque Raiffeisen, POST Luxembourg and ING Luxembourg are joining together to create a broad-based ATM network.","FileExtension":"aspx","SecondaryFileExtension":"aspx","OriginalPath":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fnews\u002fPages\u002fSix-major-financial-services-players-in-Luxembourg-join-forces-to-create-a-shared-ATM-network.aspx","PartitionId":"\/Guid(0c37852b-34d0-418e-91c6-2ac25af4be5b)\/","UrlZone":2,"AAMEnabledManagedProperties":"AttachmentURI;deeplinks;DefaultEncodingURL;DocumentLink;ExternalMediaURL;HierarchyUrl;OrgParentUrls;OrgUrls;OriginalPath;ParentLink;Path;PictureThumbnailURL;PictureURL;PublishingImage;recommendedfor;ServerRedirectedEmbedURL;ServerRedirectedPreviewURL;ServerRedirectedURL;SiteLogo;SitePath;SPSiteURL;UserEncodingURL","RenderTemplateId":"~sitecollection\u002f_catalogs\u002fmasterpage\u002fDisplay Templates\u002fSearch\u002fItem_Default.js","QueryRuleId":"\/Guid(00000000-0000-0000-0000-000000000000)\/" },{ "Rank":0,"DocId":91868,"Path":"https:\u002f\u002fwww.bil.com\u002fen\u002fbil-group\u002fpressroom\u002fPages\u002factivity-report-2022.aspx","Title":"Activity report 2022-2023","BILInternetContent":"

Press releases and press articles