Best private bank: BPI Private
BPI Private has demonstrated strong momentum, registering a 9% increase in assets under management to €9.5 billion ($10.3 billion). To support this growing portfolio, the bank’s headcount rose 13%, from 110 to 124 professionals, with an ambition to reach 140 by the end of the first quarter of 2025. This strategic recruitment drive has fortified both frontline and support functions, reflecting the firm’s commitment to delivering a comprehensive client experience.
Net profit increased 24% year-on-year to €40 million, supported by strong margins in a competitive rate environment and a 21% rise in fee income to €25.5 million. Although the bank invested in talent acquisition, its cost-to-income ratio improved from 47% to 41%, spotlighting operational efficiency alongside revenue growth.
The bank’s expansion has been fuelled by standout performances within key services. BPI Wealth, the bank’s dedicated service to ultra-high-net-worth clients launched only 14 months ago, reached €1.7