Skip to content
ABBL Logo
Switch to consumers
ABBL Institutional

ABBL Ordinary General Assembly 2025: Strong sector results and concrete proposals for smarter regulation

Published on 29 April 2025

The ABBL held today its Ordinary General Assembly and annual press conference. In a context of growing regulatory, technological and geopolitical pressure, the event was an opportunity to reaffirm the resilience of Luxembourg’s banking sector. With net profits up 10% in 2024, balance sheet growth of +1.89%, and employment remaining stable at over 26,000 professionals, the sector continues to act as a pillar of stability and sustainable growth.

Summary

    Luxembourg, 30 April 2025 – The ABBL held today its Ordinary General Assembly and annual press conference. In a context of growing regulatory, technological and geopolitical pressure, the event was an opportunity to reaffirm the resilience of Luxembourg’s banking sector. With net profits up 10% in 2024, balance sheet growth of +1.89%, and employment remaining stable at over 26,000 professionals, the sector continues to act as a pillar of stability and sustainable growth.

    Our members aim to remain both sustainably profitable and sustainably compliant — and in doing so to support business dynamism and collective prosperity.

    Yves Stein

    Chairman of the ABBL

    2024: A solid year for Luxembourg’s banks

    Despite persistent uncertainty and consolidation trends in the global market, Luxembourg’s banking industry maintained solid fundamentals. The number of banks decreased slightly from 118 to 115, reflecting international developments, while overall profitability and fee income continued to rise.

    The 2024 ABBL Annual Report, released on this occasion, provides a detailed overview of the sector’s performance, key trends, and the ABBL’s strategic priorities over the past year.

    A public call for smarter regulation

    Also presented today was the ABBL’s new position paper: Proposals towards smarter financial regulation in Europe.

    This publication outlines five priority areas and 40 concrete recommendations to simplify the EU regulatory framework — with the aim of improving proportionality, reducing operational burdens and supporting innovation, without compromising financial stability or investor protection.

    We are not asking for deregulation, but for smarter, more coherent and proportionate regulation. Europe must remain competitive in a global environment where complexity has become a major challenge.

    Jerry Grbic

    CEO, ABBL

    Cybersecurity and fraud prevention in focus

    The ABBL also stressed the sector’s increasing exposure to cyber risks. With 46% of cyberattacks in Europe targeting banks, the association continues to support efforts to strengthen both institutional resilience and customer protection. Initiatives include the rollout of the Digital Operational Resilience Act (DORA), the 24/7 LuxTrust Hotline, and the launch of a national working group on online fraud in cooperation with public authorities.

    Looking ahead

    Through its annual reporting and regulatory proposals, the ABBL reaffirms its commitment to supporting a stable, inclusive and forward-looking financial centre. As Europe prepares for important policy decisions and continued transformation, the ABBL stands ready to contribute constructively to the debate — and to ensure that Luxembourg’s voice remains strong, pragmatic and solution-driven.