Luxembourg bank clients prefer savings to investments
Luxembourg’s bank clients remained conservative in 2021, keeping nearly all - or 80 percent - of their assets in savings, even when interest rates are low, a survey conducted jointly by the Luxembourg bank association ABBL and financial regulator CSSF shows.
This survey showed a significant increase in deposits and in the number of loans granted. It also confirmed underlying trends such as the increasing use of online services. The figures for employment and the number of customers remain stable.
Wagener to retire as LuxSE chair, Grbic in charge at ABBL
Two of Luxembourg’s top financial bodies are undergoing changes in key leadership positions. Former Fortuna Bank CEO Jerry Grbric this month took over from Yves Maas as chief executive officer of the Grand Duchy’s banking association ABBL, while Frank Wagener, long-time chair of the board of the Luxembourg Stock Exchange, will retire in May.