The Luxembourg City International Bank (BIL) announced a net profit of €170 million for 2024, marking a slight decrease from its €202 million result in 2023. Despite this decline, the bank described its annual performance as “resilient” in its Thursday press release.
The bank’s financial indicators showed mixed results, with loan volumes decreasing year-on-year while customer deposits grew to €18.8 billion. BIL attributed this deposit growth to higher interest rates attracting more savings.
Notably absent from the bank’s release was any mention of ongoing market speculation regarding its ownership structure. Chinese conglomerate Legend Holdings, which controls 90% of BIL, has been rumoured to be considering divesting its stake, though no official confirmation has been provided.
