Awards for Excellence 2008: Luxembourg
Best bank: Fortis Banque Luxembourg
Being a big fish in a small pond helps Fortis stay ahead of the competition in the Grand Duchy.
Although net profits for the bank in Luxembourg were little changed, up just 0.7% to €676,8 million, the retail banking business achieved 11% growth, thanks to the introduction of some targeted products aimed particularly at the young and expatriates. Fortis’s other businesses in the country, which include securities administration, private banking and leasing, also showed good progress.