On Thursday, January 22, the Official Spanish Chamber of Commerce in Belgium and Luxembourg, in collaboration with partner company KPMG Luxembourg, organized the in-person conference in Luxembourg “Unlocking and Securing Profitability: Presentation of the KPMG–ABBL Private Banking Report 2025.”

The event provided a clear and up-to-date overview of how the private banking sector is adapting to secure its future profitability in a context marked, on one hand, by historic growth in assets under management, and on the other, by rising cost-to-income ratios driven by increases in personnel and technology expenses. These factors are driving a profound strategic transformation of the market, with a greater focus on high-net-worth clients and an increasingly visible consolidation of the sector.

During the conference, Giovanna Giardina, Advisory Partner in KPMG’s Risk Consulting Department, and Thor-Hagen Scheller, Director in the same department, presented the key findings of the KPMG–ABBL Private Banking Report 2025. Their presentation was particularly engaging, offering a detailed analysis of the evolution of investment preferences and a direct comparison between the Luxembourg model and the Swiss market.

The session led to a very dynamic debate, with enriching questions from attendees, highlighting the high level of interest and the relevance of the topics discussed for the future of the sector. The event concluded with a networking cocktail, allowing participants to exchange impressions and further explore the ideas raised during the conference in a relaxed yet professional setting.