BGL BNP Paribas reported results on 7 September (PDF). The bank stated:

“Thanks to the favourable economic conditions in Luxembourg and strong commercial activities, Retail and Corporate Banking recorded growth in average loan outstanding of 9%, boosted by an increase in mortgages and investment loans. Average deposit volumes grew by 13%, largely due to excellent inflows from corporate clients associated with the development of international cash management services.”

In addition, assets under management in its wealth management segment grew by 8%.

At the same time, overhead expenses grew 8%. The bank said:

“This rise is mainly attributable to investments to support the development of leasing activities, and to several subsidiaries entering the scope of consolidation.”

Group consolidated net profit for the first half of 2018 was €131.2m, compared to €170.3m for the same period last year.