Bankinter in Luxembourg

Luxembourg remains one of the main financial centres of the world, and Bankinter is the only Spanish bank with a banking licence there. Despite the political-financial turbulence, Bankinter's subsidiary in Luxembourg consolidated itself in 2016 as the most efficient option for the geographic diversification of Private Banking customers.

At 31 December the resources held by Bankinter Luxembourg and its SICAV totalled 1.73 billion euros, which is 31% higher than at the end of last year. The improvement was even better with respect to the discretional management of assets. 69% more than in 2015. These sharp increases coincided with the addition of ten new hires at the bank, as well as an expansion of its headquarters in the financial district in Luxembourg, which allowed for maintaining the quality levels that characterise Bankinter Group.

In 2017 Bankinter Luxembourg will start to operate as an investment manager for the SICAV and will launch three new investment funds. Once the integration of the business in Portugal has been completed, the Luxembourg subsidiary will join that market to become a fundamental lever with respect to the rendering of services for Private Banking customers.