Asset Managers · Private Banks · Wealth managers

Degroof Petercam net profit down 26% as taxes, one-off costs bite

Degroof Petercam's offices in Luxembourg. Photo: IO.

Degroof Petercam, Belgium’s largest private bank with a significant presence in Luxembourg, on Wednesday posted a double-digit decline in its full year net profit because of one-time costs related to sale of a majority stake to France’s Credit Agricole group and due to higher tax pressure.

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