Spuerkeess closed the year with a balance of €45.5 billion
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Luxembourg state savings bank Spuerkeess (BCEE) recorded the largest balance sheet of all banks in the country at the end of 2017.
According to information gathered by KPMG Luxembourg, it closed the year with a balance of €45.5 billion. Societe Generale Bank & Trust came in at a close second with €40.4 billion, followed by BGL BNP Paribas (€38.5 billion) and Deutsche Bank (€37.7 billion), which occupied first place in 2016.
The report, which was published in the Luxembourg Times, studied 94 banks with a balance sheet totalling €752 billion, up 4%.
Last April, Deutsche Bank Luxembourg CEO Frank Krings explained during the presentation of the annual results that the reduction of the balance sheet came from a voluntary approach. In two years it has been halved.