Economy & Politics

BIL presents 2020 profits at half mast

The Banque Internationale à Luxembourg is also seeing its 2020 result affected by the crisis. With this year more customer deposits, but loan regulations that had to be postponed.

Patrick JACQUEMOT

Patrick JACQUEMOT

The Banque Internationale à Luxembourg is also seeing its 2020 result affected by the crisis. With this year more customer deposits, but loan regulations that had to be postponed.

After the Spuerkeess which announces a profit down by 26%, BIL has just unveiled its 2020 balance sheet. And the Banque Internationale à Luxembourg is doing better, so to speak, with a net profit after tax there too in 10% regression. The year marked by the covid epidemic thus ended in a positive balance of 101 million euros. At the annual general meeting of April 29, 2021, the shareholders also chose to allocate the net profit for 2020 to retained earnings and “thus support the commercial development of the bank and invest in the future. “.


Wirtschaft, Beilage Classification of Banks.Banken, Finanzplatz, BIL head office Hollerich.Foto: Gerry Huberty / Luxemburger Wort.

With an 18.1% drop in the annual income of banks located in Luxembourg, 2020 will remain a complicated year, the CSSF said on Wednesday. Mainly for universal establishments and banks specializing in corporate finance.


When it comes to presenting its annual results, BIL nevertheless has grounds for satisfaction. In twelve months, the turnover itself has declined by only 2%. Or 555 million euros. There is also this stability, even a slight increase, which affects the volume of its assets under management. In the order of 43.7 billion euros (against 43.5 a year earlier). The balance sheet total also increased (+ 9%), reaching 30.6 billion euros.

In its analysis, the International Bank recalls that “all market players, companies and banks have been affected by the economic slowdown.” For BIL, this translates in particular into a major increase in the cost of risks. – these have gone from 27 to 63 million in 2020. Like its competitors, the establishment has seen its clients rely heavily on precautionary savings. Thus, the sum of deposits made took 4.1% to reach 19.8 billion euros.

Postponements being made up

On the loan side, 2020 was marked by two trends. On the one hand, a slight increase in loans granted (+ 5%); movement driven mainly by the more significant issuance of mortgage loans (+ 15.2%). On the other hand, BIL had to postpone repayments of various loans, but the establishment points out “most of the customers who have used this service have already resumed their regular repayments”.


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