Facts & Figures Luxembourg Economy

Transcription

1 Luxembourg Economy ECONOMY Population Jan-14 Women Luxembourgers 3 8 (54.72%) Foreigners (45.28%) of which Portuguese 9 8 Italians 18 8 French 37 1 Belgians 18 1 Germans 12 7 British 5 9 Dutch 4 Other EU nationalities 27 Other non-eu nationalities 34 5 Inflation* 1.3% 31-May-14 GDP 213* 2.1% 31-Dec-13 Minimum wage Jan-14 Balance of payments** 2.36 bn 213 * Percentage change on previous year ** Provisional figures Totals and balances are calculated on the basis of non-rounded figures Source: Statec-BCL-Eurostat

2 Luxembourg Economy BALANCE OF PAYMENTS ( MILLION) Current transfers Income Services Goods Totals and balances are calculated on the basis of non-rounded figures Source: BCL-Statec 31-Mar-14 EMPLOYMENT Domestic employment (incl. cross-border employees) National employment (excl. cross-border employees) Active employment (national employment & unemployment) Unemployment (incl. unemployment on the dole) Unemployment rate 7.3% Source: Statec 31-May-14

3 Luxembourg Economy LARGEST EMPLOYERS (EXCL. GOVERNMENT) Largest employers Groupe Arcelor Mittal Economic activity Manufacture of basic iron and steel and of ferro-alloys Persons employed 481 BGL BNP Paribas Monetary intermediation 46 Groupe Entreprise des P&T Wired telecommunications activities 399 Groupe Cactus Retail sale in non-specialised stores 396 Groupe CFL Interurban passenger rail transport 391 Goodyear Dunlop Tires Operations S.A. Manufacture of rubber products 324 Groupe Dussmann Luxembourg Cleaning activities 291 Luxair S.A. Passenger air transport 242 Groupe PricewaterhouseCoopers Accounting, bookkeeping and auditing activities; tax consultancy 219 Centre Hospitalier de Luxembourg Hospital activities 212 Groupe Dexia BIL Monetary intermediation 199 Centre Hospitalier Emile Mayrisch Hospital activities 189 Fondation Stëftung Hëllef Doheem Social work activities without accommodation 184 Banque et Caisse d'epargne de l'etat, Luxembourg Monetary intermediation 177 Sodexo Luxembourg S.A. Event catering and other food service activities 167 RBC Dexia Investor Services Bank S.A. Monetary intermediation 163 Elisabeth Etablissement Public Centres, Foyers et Services pour Personnes Âgées (SERVIVOR) Groupe Deloitte à Luxembourg Residential care activities for mental retardation, mental health and substance abuse Residential care activities for the elderly and disabled Accounting, bookkeeping and auditing activities; tax consultancy Nettoservice Cleaning activities 136 Source: Statec 1-Jan-13

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5 Financial Sector CSSF SUPERVISED ENTITIES Banks 4-Jun-14 Public institutions 2 Public limited companies (S.A.) 98 Partnership limited by shares 2 Co-operative banks 2 Rural banks 13 Banks issuing mortgage bonds 6 Non EU member branches 9 EU member branches 31 Financial holdings companies 3 21-May-14 Electronic money institutions 6 1-Jun-14 Payment institutions 7 1-Jun-14 PFS (Professionals of the Financial Sector) Jun-14 Investment funds UCIs (Undertakings for Collective Investment subject to Part I of the Law of 17 December 21) UCIs (Undertakings for Collective Investment subject to Part II of the Law of 17 December 21) May May-14 SIFs (Specialised Investment Funds) May-14 Foreign UCIs (Undertakings for Collective Investment) Jun-14 Management companies authorised under Article 11 of Chapter 15 of the law of 17 December 21 Management companies authorised under Article 125 of Chapter 16 of the law of 17 December 21 Alternative investment fund managers authorised under Chapter 2 of the law of 12 July May May Jun-14 Pension funds 14 (SEPCAV:3/ASSEP:11) 1-Jun-14 Liability managers 15 2-Dec-12 SICARs (Investment companies in risk capital) 28 1-Jun-14 Securitisation undertakings 32 1-Jun-14 Tied agents established in Luxembourg 4 24-Feb-14 Credit institutions and persons exercising financial sector activities originating from third countries Issuers of securities for which Luxembourg is the home Member State pursuant to the Transparency Law 4 15-Oct Jun-14 Regulated markets 1 5-May-1 MTF (Multilateral trading facilities) 1 5-May-1 Deposit guarantee and investor-compensation schemes 1 May-13 Source: CSSF

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7 Banks NUMBER OF BANKS PER COUNTRY OF ORIGIN (TOTAL 15) Andorra 2 Belgium Brazil Canada 2 China Cyprus 1 Denmark 1 France Germany Greece 1 Israel 3 Italy Japan Latvia 1 Liechtenstein 1 Luxembourg Norway 2 Portugal 2 Qatar 3 Russia 2 Spain 3 Switzerland Sweden The Netherlands 3 Turkey 1 United Kingdom United States Source: CSSF 31-May-14 DEVELOPMENT OF BANKS BALANCE SHEET TOTAL ( MILLION) 1 December December December December December December December December December December December December December April The IFRS accounting standards are used for the reporting on which the published aggregate figures are based since January 28, while this reporting was based on Lux-Gaap until December 27. This change in accounting standards implies technical variations in the figures presented, which mitigate or magnify, as the case may be, the development of banking activities as shown above. Source: CSSF 3-Apr-14

8 Banks STRUCTURE OF ASSETS OF BANKS ( MILLION) Interbank loans Loans to non-banking customers Portfolio investment Other assets Source: BCL Jan-14 STRUCTURE OF LIABILITIES OF BANKS ( MILLION) Interbank debts Debts to non-banking customers Debt securities issued Other liabilities Source: BCL Jan-14

9 Banks EVOLUTION OF TOTAL RESULTS ( MILLION) Interestrate margin Commission income Other net income Banking income Operating expenses* Result before provision Net creation of provisions Taxes** Net result *** Mar n/a n/a n/a Mar n/a n/a n/a * Including staff costs ** Since 28, this item also includes possible tax credits as well as possible deferred tax charge (positive and negative) under the IFRS accounting standards and the common European reporting framework Finrep. *** Provisional figures Source: CSSF 31-Mar-14 BANKING INCOME, OPERATING EXPENSES, NET RESULT ( MILLION ) n/a n/a Mar-13 Mar-14 Net result Operating expenses* Banking income * Including staff costs ** Provisional figures Source: CSSF 31-Mar-14

10 Banks EMPLOYMENT IN LUXEMBOURG BANKS Luxembourgers Foreigners (residents / non-residents) Total Source: BCL 31-Dec-13 CROSS-BORDER EMPLOYEES IN THE FINANCIAL SECTOR (AS AT 31 MARCH EACH YEAR)* Sept-13 German residents Belgian residents French residents Cross-border employees * Banks and other financial intermediaries Total (including residents) Source: IGSS 31-Mar-14

11 Banks DEVELOPMENT OF BANKS SOLVENCY AND LIQUIDITY RATIO OVER THE LAST YEARS Development of the average solvency ratio over the last years (%) Development of the average liquidity ratio over the last years (%) Source: CSSF-BCL 31-Dec-13 RELATIVE IMPORTANCE OF THE MAIN PAYMENT INSTRUMENTS IN THE EU (% OF TOTAL NUMBER OF TRANSACTIONS) Belgium / / France Germany Luxembourg The Netherlands / / / United Kingdom / / / Denmark /.24 Credit transfers Direct debits Card Payments E-Money Purchase Transactions Cheques Other payment instruments Source: ECB 31-Dec-12

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13 Private Banking KEY FIGURES Assets under management 37 billion CSSF/ ABBL Private Banking Survey 214 Revenues billion CSSF/ ABBL Private Banking Survey 214 Contribution to tax revenues n/a Full-time employees Directly employed end CSSF/ ABBL Private Banking Survey 213 Directly employed end CSSF/ ABBL Private Banking Survey 214 Client facing staff CSSF/ ABBL Private Banking Survey 214 GEOGRAPHIC ORIGIN OF LUXEMBOURG PRIVATE BANKING CLIENT ASSETS (%) Luxembourg Belgium, France, Germany Other EU Countries Non-EU Countries Source: CSSF/ ABBL Private Banking Survey 214

14 Private Banking WEALTH BANDS IN TERMS OF ASSETS (%) , - 25, 25,1-5, 5,1-1,, 1,,1-5,, 5,,1-1,, 1,,1-2,, > 2,, Source: CSSF/ ABBL Private Banking Survey 214 WEALTH BANDS IN TERMS OF NUMBER OF CLIENTS (%) , - 25, 25,1-5, 5,1-1,, 1,,1-5,, 5,,1-1,,.8 1,,1-2,, > 2,, 46.8 Source: CSSF/ ABBL Private Banking Survey 214

15 Fund Industry NUMBER OF INVESTMENT FUNDS Number May-14 UCIs (Part I law 21) 31-May-14 UCIs (Part ll law 21) 31-May-14 SIFs (Specialised Investment Funds) 3-Jun-13 Hedge funds 31-Mar-14 Central administrations 31-Mar-14 Custodians 31-May-14 Management companies (chapter 15 law 21) 31-May-14 Management companies (chapter 16 law 21) 1-Jun-14 Pension funds Source: CSSF / ALFI EUROPE: UCITS - TOP 3 NET ASSETS UNDER MANAGEMENT ( MILLION) EUROPE: UCITS & NON-UCITS - TOP 3 NET ASSETS UNDER MANAGEMENT ( MILLION) Luxembourg Luxembourg France France Ireland Germany Source: EFAMA 31-Mar-14

16 Fund Industry NET ASSETS UNDER MANAGEMENT ( BILLION) September December March June September December March June September December March June September December April Source: CSSF 3-Apr-14 LUXEMBOURG MICROFINANCE INVESTMENT VEHICLES (MIVs) Dec-9 Dec-1 Dec-11 Dec-12 Dec-13 May-14 AUM (USD in bn) Dec-9 Dec-1 Dec-11 Dec-12 Dec-13 May-14 Number of MIVs Source: Syminvest 31-May-14

17 Professionals of the Financial Sector (PFS) NUMBER AND BREAKDOWN BY PFS CATOGORIES / Support PFS Specialised PFS Investment firms Total Source: CSSF 31-Dec-13 QUARTERLY DEVELOPMENT OF EMPLOYMENT BY PFS SUB-GROUP Mar 12 Jun 12 Sept 12 Dec 12 Mar 13 Jun 13 Sept 13 Dec 13 Mar 14 Support PFS Specialised PFS Investment firms Total Source: CSSF 31-Mar-14 NET RESULT OF PFS ( MILLION) Support PFS Specialised PFS Investment firms Total Source: CSSF 31-Dec-13

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19 Insurance & Reinsurance NUMBER OF INSURANCE AND REINSURANCE COMPANIES BY SPECIALISATION July 213 Companies active in life and non-life insurance Companies active in life insurance Total Companies active in non-life insurance Reinsurance companies Source: Commissariat aux assurances (Insurance Supervisory Authority) 1-Jul-13 DEVELOPMENT OF EMPLOYMENT IN INSURANCE AND REINSURANCE COMPANIES Life-insurance Non-life insurance Reinsurance Total Of which jobs based in Luxembourg Source: Commissariat aux assurances (Insurance Supervisory Authority) 31-Dec-12

20 Insurance & Reinsurance BREAKDOWN OF PREMIUMS COLLECTED IN 212 BY TYPE OF INSURANCE (%) Life insurance / Luxembourg Life insurance /abroad Non-life insurance / Luxembourg Non-life insurance /abroad Reinsurance / Luxembourg Reinsurance / abroad 2.4 Source: Commissariat aux assurances (Insurance Supervisory Authority) 31-Dec-12 BALANCE SHEET TOTAL OF LUXEMBOURG INSURANCE AND REINSURANCE COMPANIES Source: Commissariat aux assurances (Insurance Supervisory Authority) 31-Dec-12

21 Luxembourg Stock Exchange NUMBER OF LISTED SECURITIES Total Total Total Total Mar Total Bonds Undertakings for Warrants and others Shares collective investment Source: Luxembourg Stock Exchange 31-Mar-14 ISSUERS DISTRIBUTION PER LOCATION 19.8% 66.61% 7.52% 4.86%.61%.61% Source: Luxembourg Stock Exchange 31-May-14

22 Luxembourg Stock Exchange INTERNATIONAL BOND MARKET Quotation lines Weight (%) Luxembourg Stock Exchange Irish Stock Exchange Deutsche Börse NYSE Euronext NASDAQ OMX Nordics & Baltics Others Total Source: Federation of European Securities Exchanges (FESE) 3-Apr-14 MONEY RAISED - BREAKDOWN BY LISTING CURRENCY (%) EUR USD Others 35.8 Source: Luxembourg Stock Exchange 31-Mar-14