Profit of HSBC Private Bank (Luxembourg) S.A. 2015-2021
HSBC's private banking division in Luxembourg saw a net profit loss of 6.1 million euros in 2021. This was a decrease from the value reported in the previous year. HSBC Private Bank (Luxembourg) S.A. was established in the Grand Duchy in 1977 and almost exclusively focuses on wealth management for HNWIs (high-net-worth-individuals). Other banks from countries like the United States, China or Switzerland, established their Europe headquarters in Luxembourg to gain access to the EU internal market. This could also happen to banks from the United Kingdom, like HSBC, in the event of a Brexit.
