Last year, the financial institution yielded a net profit of €131 million after tax deductions, marking a 5% increase compared to the previous year.
BIL's own investment funds stand at 15% worth of capital. Despite low interest rates and regulatory changes, such as the Mifid-Directive (Markets in Financial Instruments Directive) that, roughly summarised, ensures more information to investors and client, the bank made a significant and stable turnover of €500 billion .
President Luc Frieden - previous CSV (Christian Social People's Party) minister – disclosed in the bank’s statement that the takeover of parts of the Qatari business “Precision Capital” by the Chinese “Legend Holdings” was successfully concluded. “Legend Holdings” now owns 90% of the bank's shares, while the Luxembourgish government owns the remaining 10%.
