Luxembourg-based KBL European Private Bankers (KBL epb), parent of UK-based Brown Shipley, has reported a net profit of EUR72m for the first half of 2015, an increase of 44% compared to EUR50m for the same period last year.
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For the six months ending 30 June 2015, the group’s revenues stood at EUR296m, compared to EUR290m a year ago.
The group said that its assets under management and custody for the period reached a combined total of nearly EUR100bn, up nearly 20% compared to a combined total of EUR83bn on the year ago period.
Additionally, the group has hired 150 new staff over six-month period, including teams from recently acquired entities in Belgium and the UK.
KBL epb Group CEO Yves Stein said: "In the first half of this year, we deepened our existing footprint through two acquisitions and expanded our skills base via increased staff training and external recruitment adding that following these strong results, KBL epb will invest even more in future growth in the second half of the year.
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By GlobalData"Moving forward, we will continue to invest in our people and, with the full support of our shareholder, actively review additional opportunities to increase our share of the European private banking market.
"Moving forward, we will continue to focus on combining deep domestic insight and broader international perspective to meet the needs of our HNWI clients here in Luxembourg and across our pan-European network."
