The data displays the percentage change on previous year of the aggregated balance sheet of banks in Luxembourg in 2016, by country of origin of the bank. Luxembourg is an international financial center in the European Union, with over 140 international banks having an office in the country. In the most recent Global Financial Centers Index, Luxembourg was ranked as having the third most competitive financial center in Europe after London and Zürich. In 2016, banks in the Grand Duchy from the United Kingdom/US segment, China, France and Luxembourg saw an increase of their on-balance sheet business.
