“All our business lines delivered solid results this year,” said Sylvie Huret, managing director of Degroof Petercam, in a press statement on 14 May 2025 announcing the bank’s 2024 annual results. Library photo: Degroof Petercam

“All our business lines delivered solid results this year,” said Sylvie Huret, managing director of Degroof Petercam, in a press statement on 14 May 2025 announcing the bank’s 2024 annual results. Library photo: Degroof Petercam

Degroof Petercam reported a 39% increase in net profit in 2024, with rising income, client assets and capital strength amidst its integration into Indosuez Wealth Management.

Degroof Petercam reported a consolidated net profit of €78.3m for 2024, representing a 39% increase compared to the €56.3m recorded in 2023, according to annual results approved by the board of directors and published on 14 May 2025. The report attributed this growth to a combination of reduced overheads and higher net commission income, which partially offset a slight decline in the bank’s interest margin.

Revenue growth and operational performance

Net income for the year rose by 7% to €617.6m, up from €579.3m in 2023. Gross operating profit also improved significantly, increasing by 26% from €118.5m to €149.3m. The bank’s management stated that the performance reflected positive development across all business lines and indicated resilience amid evolving market conditions.

The group’s total client assets reached €79.8bn by the end of 2024, a 7% increase from the €74.3bn reported at the end of 2023. In the newly defined scope of reporting, total net client assets were recorded at €66.2bn, with a corresponding consolidated net profit of €67.5m.

Degroof Petercam maintained a solid capital position with a common equity tier 1 (CET1) ratio of 29.5% as of 31 December 2024, up from 24.0% the year prior. This figure remained well above regulatory requirements.

Leadership changes pending approval

The bank’s upcoming general shareholders’ meeting on 27 May 2025 will consider several new board appointments, subject to European Central Bank approval. Jef Van In has been proposed as director and future chairman of the board of directors. , who has served as managing director since the end of 2024, will be confirmed as CEO and chairwoman of the management board. Additional nominations include Jean-Christophe Droguet as executive director and vice-chairman of the management board, and Michel Tison as independent director.

Commenting on the results, Huret stated, “We are pleased to report that all our business lines delivered solid results this year.” She noted that the integration with Indosuez Wealth Management, in 2024 in partnership with reference shareholder CLDN, who retains a 20% stake, had strengthened the firm’s positioning and capabilities.

Degroof Petercam’s annual accounts for 2024 will be submitted for shareholder approval at the 27 May meeting.

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