Interest margin bounty underpins BCEE banking income
The BCEE, one of Luxembourg’s main domestic banks commonly known as the Spuerkees, credited rising interest rates as playing a key role in increasing its increased banking income portion of its overall annual report for the year ending in 2022 through over 20% increase to its interest margin. According to a bank press release, this was also due to an increase in lending activities.
The Mirror : « Parfois, j'ai l'impression d'être dépassé par les événements »
Toutes les deux semaines, Investment Officer pose quelques questions personnelles à un éminent professionnel du secteur financier. Cette fois-ci, c’est Michel Buysschaert, CEO de Delen Private Bank, qui regarde dans Le Miroir.
Delen Private Bank finalise l'acquisition de Groenstate
Delen Private Bank a renforcé sa position aux Pays-Bas avec l’acquisition du gestionnaire de patrimoine indépendant Groenstate à Hengelo (Overrijsel). Cette acquisition s’accompagne d’un changement de nom de la société.
L’acquisition annoncée en août est maintenant une réalité. Groenstate est un acteur établi de la gestion de patrimoine dans la région de Twente, avec des actifs sous gestion d’environ 225 millions d’euros.
Brazilian private bank BTG pays €21.3 mln for FIS Privatbank
BTG Pactual, the largest investment bank in South America, said it acquired Luxembourg-based private bank FIS Privatbank in a move that should enable its Latin American clients to diversify their investment portfolios in developed countries while expanding its European client base beyond Portugal, Spain and the UK.
CSSF: 23 of 120 Luxembourg banks not profitable in 2022
Total interest income at Luxembourg’s 120 credit institutions last year surged 39 percent as most banks were able to boost their margins from borrowing and lending activities on the back of higher central bank interest rates, according to data posted by financial supervisor CSSF. The supervisor also said, like last year, that 23 banks in the grand duchy were not profitable.
Quintet posts first profit in four years as interest margins improve
Luxembourg-headquartered Quintet Private Bank on Thursday posted its first net profit in four years as interest margins improved thanks to rising interest rates. Higher trading income and a one-time gain from the sale of its stake in EFA also underpinned its performance last year.
Esma chief tells funds to consider growing interest rate risks
The head of the European Securities and Markets Authority, which oversees and coordinates the work of European supervisors in asset management, on Tuesday called on the industry to pay more attention to the management of increasing interest rate risks and to step up its efforts in terms of “prudent management” of the investment funds.
UBS, Credit Suisse merge to become Europe’s largest G-SIB
UBS is acquiring industry peer Credit Suisse for 3 billion Swiss francs. They will pay 0.76 Swiss francs in UBS shares. The opening offer was initially 0.25 Swiss francs per share. As recently as Friday, Credit Suisse closed at a closing price of 1.86 Swiss francs, representing a market capitalisation of 7.3 billion Swiss francs. The combined entity will become Europe’s largest Globally Systemically Important Bank, also known as a G-SIB.
Laurent Cooreman takes the helm at BIL’s Belair House
Laurent Cooreman on Monday was appointed as chief executive officer at Belair House, the real-estate focused family office unit of Banque Internationale à Luxembourg, also known as BIL.
Krach de la SVB : la BCE souligne les inquiétudes concernant les risques liés aux taux d'intérêt
La Banque centrale européenne a réitéré dimanche ses préoccupations quant à la manière dont les banques gèrent la hausse des taux d’intérêt, en réponse à des questions sur le bank run de la Silicon Valley Bank.
La BCE a rappelé qu’une étude récente avait révélé des lacunes, notamment en ignorant les changements de comportement des consommateurs qui pourraient conduire à des retraits de dépôts lorsque les taux d’intérêt augmentent.