KBL European Private Bankers (KBL epb), headquartered in Luxembourg, announced today that it has been named “Best Private Bank in Luxembourg” at the Wealth & Money Management Awards 2014.

The pan-European private banking group also received the “Commitment Award for European Banking” in recognition of its sustained focus on excellence in the financial services sector.

Recipients of Wealth & Money Management Awards are first shortlisted based on a range of quantitative metrics and qualitative factors. Winners are then selected based on voting by independent industry professionals.

“We are very pleased to be named the best private bank in the Grand Duchy, where we continue to rapidly adapt our offering to meet the needs of today’s private and professional clients,” said Yves Stein, Group CEO, KBL epb.

“Likewise, we are proud to be recognized for our broader contribution to the sector, reflecting our focus on the organizational integration of best practices across our pan-European network,” he said. “By combining deep domestic insight and international perspective, we are able to provide optimal services to all our clients – whether they are based here in Luxembourg or in any of the 50 European cities where we operate.”

KBL epb reported a net profit of €50 million for the first half of 2014, up more than 19% compared to €41.9 million for the same period last year. This positive performance was driven by increased income – especially in Luxembourg – significant affiliate contributions and the bank’s capacity to leverage market conditions.