Spuerkeess bank has posted a profit exceeding €400 million for the second year in a row, with €120 million of that amount set to be distributed as dividends to the state. The latest financial figures show steady growth, reflecting the bank’s solid performance.
The balance sheet total increased slightly to €57 billion compared to previous year, while customer deposits rose to over €42 billion in 2024. The total outstanding loans amounted to €27 billion. A total of 4,500 new housing-related files were opened last year, marking a 40% increase from 2023. However, while the demand for existing homes is robust, clients remain cautious regarding new housing developments.
Spuerkeess management, led by General Director Françoise Thoma, believes that interest rates for real estate loans could experience minor adjustments downward but does not expect significant declines in the short term. Despite a challenging environment, Thoma stated that it remains a good time for individuals to take out loans.
The Spuerkeess’s banking income, which primarily includes interest income, dividends, and commissions, totaled over €1.17 billion, reflecting a 9.4% increase compared to 2023.
Beyond financial success, Spuerkeess is committed to supporting the economic and social development of Luxembourg. Even in uncertain times, the bank plans to continue its investments in cybersecurity, digitalisation, agency expansion, and, notably, its workforce.
