ABBL Annual Report 2023: regulated, innovative, responsible

Against a backdrop of ongoing supervision, the ABBL works alongside its members to maintain confidence in Luxembourg’s financial sector. Our 2023 Activity Report underlines our commitment to sustainable, innovative and responsible banking, highlighting our collective achievements.

The full report can be downloaded as a pdf document below.

• ABBL 2023 Annual Report Published April 2024

Guy Hoffmann, President of the ABBL, stresses the need for constant innovation and the acquisition of talent to maintain the competitiveness of the banking sector in Luxembourg. The sector must adapt to evolving challenges, including regulatory changes and technological advances, while addressing sustainability concerns. This is why Luxembourg’s bankers are transforming themselves constantly. The ABBL advocates proactive engagement with policymakers to ensure a thriving financial industry. Attracting and retaining diverse talent is crucial to future success, which requires investment in education and reskilling. By embracing sustainable finance and fostering an enabling environment, Luxembourg aims to secure its position as a global financial centre for generations to come.

Chairman of the ABBL

The ABBL recognises the challenges faced by its members in maintaining competitiveness in the context of market dynamics, regulatory change and digitalisation.

With around 2,500 active members across our clusters, technical committees, forums, and working groups, we advocate a regulatory framework that prioritises customer protection and encourages innovation. Attracting, retaining and developing talent remains essential for sustainable growth. Our proposals, focusing on talent and skills, the tax environment, the regulatory framework and sustainable finance, have gained ground in the coalition’s programmes.

As we look ahead to the 2024 European Parliament elections and engage in EU legislative processes, collaboration with financial centres outside the EU becomes crucial. Sustainability and digitalisation are key areas, positioning Luxembourg as a leader in sustainable finance.

The ABBL is committed to contributing to the evolution of European legislation, ensuring that the concerns of the financial centre are taken into account. Our Sustainability Committee strengthens the dialogue on sustainability and the monitoring of progress.