Bankinter remains the only Spanish financial institution with its own banking licence in Luxembourg, which is the the leading EU country in private banking and distribution of investment funds. Its motto is: ‘offering customers security, diversification and quality’.
In February 2017, Bankinter Luxembourg obtaind the necessary authorisation to act as the investment manager for the Bankinter International Fund Sicav, the investment company that the Bank has there.
Another important new development was the launch of three new sub-funds, which extend the range of funds available to be marketed in both Spain and Portugal.
The Bank also strengthened and consolidated its team, in order to provide an excellent quality of customer service and respond to growing regulatory demands. This acted as a strong drive for the marketing and sales activities in those countries where the Group is present, especially in Portugal.
As a result, the assets under management of Bankinter Luxembourg totalled 2.651 billion euros as of December, which is a 53% increase on the end of 2016; meanwhile lending activity practically doubled.
The figures for discretionary management and advisory services were equally as positive, reaching 1.184 billion euros, 26% more than at the close of 2016.
In 2018, Bankinter Luxembourg has the challenge of carrying out a major technological transformation in order to maintain the high standards of quality service and to consolidate itself as one of the main players in the Iberian market.
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