Banques privées

La société d’investissement belge Degroof Petercam a révélé samedi que son revenu d’exploitation avait chuté de 16 % l’année dernière en raison d’une baisse des revenus de commissions. Cette baisse a été partiellement atténuée par l’augmentation des marges d’intérêt.

La banque a enregistré un résultat d’exploitation de 106,7 millions d’euros en 2022, contre 126,6 millions d’euros l’année précédente. 

Referring to a “challenging year”, Belgian investment house Degroof Petercam on Saturday said that its operating income fell 16 per cent last year on the back of a decline in commission income. The drop was mitigated in part by higher interest margins.

The bank, which has a major presence in Luxembourg as asset manager, posted 106.7 million euro in operating income for 2022, down from 126.6 million a year earlier. The privately held company did not provide a breakdown of this income.

Banque Havilland, a Luxembourg private bank owned by British property developer David John Rowland, has sold its depository and custody business for an undisclosed amount to Spain’s Banco Inversis as part of a new strategy in which it fully focuses on private banking. 

Grand Duchy banks are taking action to prepare for an economic downturn, according to bank sector association ABBL. 

At its annual general meeting on Thursday, the organisation noted that rising interest rates and geopolitical uncertainty have caused households and companies to become reluctant investors. Banks began setting aside more provisions last year in order to cover increased risk of credit defaults - a move already reflected in 2022 figures with an increase of over 400%. 

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. 

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 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.

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.

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.

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.