Banque Internationale à Luxembourg (BIL) has posted a pre-tax income of EUR164m for the year ended 31 December 2014, a rise of 17.4% compared to the year ago.
The Luxembourg-based bank’s assets under management rose 7% to EUR30.8bn.
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As of 31 December 2014, BIL recorded a common equity tier 1 ratio of 15.28% under Basel III. The lender’s total capital ratio (capital adequacy) for the year stood at 19.56%.
The bank also revealed that its wealth management, corporate & institutional banking, retail, and financial market activities registered strong results in spite of a lackluster macroeconomic environment and increasing regulatory constraints leading to imposed additional expenses.
BIL CEO Hugues Delcourt commented, "The dynamism of our business activities is reflected by the marked growth of our annual results. These excellent performances reinforce the key role played by BIL in the development of the Luxembourg economy and were especially made possible by our customers, whom I’d like thank for the confidence that they have put in us, both in Luxembourg and internationally."
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