Private Banks · Sector

CSSF: 23 of 120 Luxembourg banks not profitable in 2022

Luxembourg investment funds lost €831 billion during 2022
Total interest income at Luxembourg’s 120 credit institutions last year surged 39 percent as most banks were able to boost their margins from borrowing and lending activities on the back of higher central bank interest rates, according to data posted by financial supervisor CSSF. The supervisor also said, like last year, that 23 banks in the grand duchy were not profitable.
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