42 Related parties
The LLB Group is controlled by the Principality of Liechtenstein, which holds 57.5 percent of the bearer shares of Liechtensteinische Landesbank AG, Vaduz. At the end of the year under report, the LLB held 6.4 percent of its own shares (previous year: 6.4 %), 3.7 percent were held by Thornburg Investment Management Inc. and less than 0.1 percent were held by members of the Board of Directors and the Board of Management. The remaining bearer shares are owned by the general public.
The related parties of the LLB Group comprise the Principality of Liechtenstein, associated companies, members of the Board of Directors and the Group Executive Management, as well as their close family members and enterprises which are controlled by these individuals through their majority shareholding, or their role as chairman and / or CEO in these companies, as well as their own pension funds.
Within the scope of its business activity, the LLB Group also conducts banking transactions with related parties. These transactions mainly involve loans, investments and services. The volumes of these transactions, the holdings and corresponding income and expenses are shown below.
See “Scope of consolidation” for a detailed list of the parent / subsidiary relationships of the LLB Group.