The Banque Internationale à Luxembourg (BIL) has announced positive financial results for 2016, in spite of a difficult environment.

BIL’s retail banking, corporate banking, wealth management and markets activities financials generated strong performances, with growth rates higher than those of the market and a 3% increase in net operating income compared to the previous year.

The BIL Group reported strong performances in 2016, with a net operating income before tax of €124 million, an increase of 3% compared to 2015. Net income after tax amounted to €110 million. The bank continued to attract new customers and increase its market share, both in Luxembourg and internationally.

Despite an environment still characterised by low rates, customer deposits increased by 7.4% to reach €16.1 billion. Assets under management have increased significantly from € 35.5 billion in 2015 to € 37.7 billion in 2016. This excellent result is mainly due to the inflow of capital of € 1.9 billion In the wealth management segment.

Meanwhile, loans to customers rose to €12 billion, attesting to BIL's continued support for the national economy. These figures will be submitted to the Annual General Meeting of Shareholders of BIL on 28 April 2017.

The bank's quality of services has also been recognised by the financial sector with BIL being named "Bank of the Year 2016 - Luxembourg" by the financial magazine The Banker, "Best Bank in Luxembourg 2017" by Global Finance magazine and "Best Private Bank for Super Affluent Clients in Luxembourg" according to the Euromoney Private Banking Survey 2017.