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Banking Summit 2025: Interview with Yves Stein, ABBL Chairman

Published on 17 September 2025

The ABBL Banking Summit 2025 took place on 18 September at the Philharmonie Luxembourg, bringing together leaders from the banking industry, government and the international financial community.

Summary

    The world seems to be changing faster than ever. How does this affect the financial industry?

    We live in what many describe as a “VUCA” world, marked by volatility, uncertainty, complexity and ambiguity. In such times, it is essential to pause, reflect and reframe. The Summit provides precisely this space for perspective: to explore geo-economics and its impact on Europe, banking, and Luxembourg’s financial centre.

    Strategy is not about predicting the future. It is about preparing for it. Together, with purpose and with unity.

    Yves Stein

    Chairman of the ABBL

    You highlighted the importance of stability for Luxembourg. Could you elaborate?

    Stability is not an accident: it is the outcome of deliberate choices. Economically, Luxembourg has built resilience through openness, strong regulation and innovation. Politically, our tradition of consensus is a source of strength. Socially, cohesion and diversity are our assets. Stability here is active, renewed every day, and it is a true competitive advantage in turbulent times.

    What role does the financial sector play in maintaining this balance?

    Our sector contributes close to 80% of tax revenues in Luxembourg. With a workforce that is 82% non-Luxembourgers, talent retention is critical. This is why a sustainable and attractive welfare state is not a luxury but a necessity. During recent social dialogue, the ABBL worked closely with partners such as the ACA, ALFI and LPEA to find balanced solutions, protecting jobs, ensuring competitiveness and supporting the country’s prosperity.

    And at the European level?

    Challenges to competitiveness must also be addressed beyond our borders. The ABBL has long been present in Brussels and remains an active member of the European Banking Federation. This European perspective is essential to ensure that our financial centre continues to thrive and that Europe as a whole strikes the right balance between competitiveness, stability and confidence.

    Looking ahead, what is your message to stakeholders?

    In times of uncertainty, insight is power. The ABBL is determined to remain at the table, take responsibility, and help shape the future with clarity and unity. The future is unwritten, but it is not unshaped. By working together, Luxembourg can turn today’s challenges into tomorrow’s opportunities.