Luxembourg banking association BGL BNP Paribas today released the findings of their financial results at 30 June 2015.
Net banking income was found to have increased 2% to €687.6 million, with Luxembourg Retail and Corporate Banking reporting a 2.4% in average loan outstandings and a 6.1% in average deposits. Assets under Wealth Management experienced a 4% progression from strong inglows and a positive market effect.
Operating expenses also showed positive results, down 2% from the first half of 2014, and a consolidated net profit outside of minority interests was found to have retained its foothold from the same period, up slightly from €174.7 million to €174.9 million.
The banking association's solvency ratio was displayed as considerably above the regulatory minimum of 10.5% at 22.5%, affirming BGL BNP Paribas' position as the best capitalised bank in Luxembourg.
The bank claimed that it was continuously attempting to provide innovative measures on behalf of its customers, having made a slimmed-down version of its Web Banking App available for Apple Watch when the technology was launched in April 2015. The app provides clients with the means to review their accounts and recent transactions through an Express View mode of the related iPhone app rather than a regular code.
The Digicash app can also be downloaded, for free from the App store and Google Play, enabling customers to make fast and safe payments through their smartphones, directly from their bank accounts. Wealth Management customers also hold access to the 'MyPortfolio' app if they so wish.
BGL BNP Paribas was reportedly pleased with the overall findings, with Chairman of the Management Board, Carlo Thill, commenting: "The bank's results are more than satisfactory given the uncertain international economic environment and the considerable volatility of the financial markets".
