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Luxembourg banks thrive amid change
Luxembourg’s banking sector hit record pre-tax profits of EUR 9.8 billion in 2024, following a 45% surge in 2023. This was driven largely by high ECB interest rates that boosted net interest income. Commission income also rose by 9.4%, supported by growing assets under custody. With expenses stabilizing and the cost-income ratio improving to 46%, the sector remains strong.
However, falling interest rates, stricter regulations like the DORA framework, and rising cybersecurity risks present new opportunities for adaptation and innovation. As banks adapt through digital transformation and talent acquisition, sustaining this momentum will be key to long-term success.
So how did your bank compare against others? With statistical analyses and data from over 60 of Luxembourg’s banking institutions, we invite you to delve into our data, discover financial trends, and learn about your bank’s positioning against others in Luxembourg’s financial ecosystem.
Key highlights
Listen to our experts discuss the key highlights and challenges of the Luxembourg banking industry in 2024.
Photo: ©François Barnich / Talk2u
Banking insights
Delve deep into the key trends, challenges and opportunities shaping the banking sector in Luxembourg.
Meet our team
For queries, please contact:
Jasmina Salentiny
Manager, Audit
+352 621 876 471
jasmina.salentiny@kpmg.lu
