On Thursday 24 April 2025, Banque Internationale à Luxembourg (BIL) announced its financial results for 2024.
BIL Group reported a net income after tax of €170 million in 2024, representing a decrease of 15.84% over one year (2022 net income after tax: €202 million) and noted that “despite persistent macroeconomic uncertainty, high interest rates and a slow recovery in key sectors”, this demonstrated the bank’s “stability and resilience”.
BIL’s customer deposits now stand at €18.8 billion, an increase of 1.62% from 2023, while customer loans decreased marginally from €16.3 billion in 2023 to €16.2 billion in 2024. BIL explained that this was due to “attractive interest rates and growing demand for more remunerative saving products”.
In 2024, BIL’s assets under management rose to €46.8 billion, representing an increase of 6.85% over 2023, which BIL stated was driven by “new inflows and positive market performance” and marked “a clear sign of client trust”.
At the end of 2024, BIL's CET- 1 ratio stood at 14.25% after profit allocation, compared with 14.23% in 2023, and its Liquidity Coverage Ratio rose to 200%, an increase of 26% from 2023.
In 2024, BIL's total revenues reached €719 million, while expenses declined to €499 million. BIL reported that this was thanks to its “disciplined management of costs, risks and capital”.
Looking at the macroeconomic trends of the year, BIL reported that economic conditions remained “volatile”and geopolitical tensions and fluctuating energy prices contributed to an “unpredictable global environment”. BIL added that the use of artificial intelligence (AI) had gained momentum, being adopted by governments and companies to “boost productivity and navigate fast-changing technological landscapes”. The bank introduced the use of AI to its online virtual assistant “Berry” in May 2024.
In the report, CEO of BIL, Jeffrey Dentzer, commented: “BIL has been by the side of individuals, families and entrepreneurs for generations, not just as a bank, but as a partner in their lives and ambitions. Our 2024 results confirm the strength of the strategy we put in place: focused, resilient, anchored in the needs of our clients and anticipating the future. We will continue to work relentlessly to support them, to stay the bank they can rely on, today and tomorrow”.
