Material topics

Information checkedInformation unaudited Information geprüft Information ungeprüft Material topics

Sustainability to the LLB Group means creating long-term added value for its clients, shareholders, employees and other stakeholder groups. In order to provide the best possible transparency for our stakeholder groups, LLB’s sustainability reporting is prepared in accordance with the internationally established  GRI (Global Reporting Initiative) Standards. The thematic focus of our sustainability reporting is based on a comprehensive materiality analysis that LLB last carried out in 2019 but has continued to review and fine-tune where necessary.

In accordance with the content requirement for a non-financial declaration requirement set out in Liechtenstein’s Persons and Companies Act (PGR), at a minimum those topics from the areas of environmental, social and employee matters, anti-corruption and bribery matters, as well as respect for human rights were identified in the analysis as report content that is material in the sense of having “double materiality”. This means topics where LLB has or may have a relevant impact on society or the environment and which are relevant for understanding the course of business, the corporate results and the position of LLB.

The topics that resulted from the analysis are summarised in the LLB materiality matrix (see table) and are discussed in the subsequent parts of the report. Our approach is detailed in the Annual Report 2019 (GRI 102-46, 102-47). We plan to carry out a new analysis in 2022 to bring the materiality matrix – especially also given the new ACT-26 corporate strategy – into line with the changed circumstances.

Materiality matrix LLB Group

In dialogue with stakeholder groups

For the LLB Group, sustainability as a corporate responsibility also means meeting the expectations of the different internal and external stakeholder groups. We are in regular dialogue – personally, by electronic media, or at information meetings, working sessions or conferences – with the different stakeholders who affect the course of our business and over whom we have influence.

An important instrument is the LLB Group’s annual report, which has contained a stakeholders report since 2015. Through it, we highlight our proactive focus on sustainability and social responsibility. For sustainability reasons, we do not print our annual report.

The most important stakeholder groups are in particular:

• Clients: Their needs are uppermost at every point of contact. Using various channels, we determine the needs and level of satisfaction of our clients.
• Principality of Liechtenstein: The Principality of Liechtenstein is our majority shareholder. We exchange views with representatives of the Landtag (Parliament) and the Government on a regular basis (see chapter “Corporate governance”).
• The public: All our branding and communication measures are high-profile. A key trust-building element in this regard is an intensive exchange with media representatives (see sections “Public relations” and “Media relations”).
• Partners and non-governmental organisations (NGOs): Through our membership of associations and organisations, we maintain a dialogue with partners and NGOs (see chapters “Institutional Clients” and “Responsibilities for the economy, society and environment”).
• Employees: We reach our employees over our intranet, which is continuously updated, and through our “InSight” staff magazine. There are various events where employees have the opportunity to personally meet and discuss with members of the Group Executive Board (see chapter “Employees”).

Investor relations

As a publicly listed company, we are obliged to publish share-price-relevant facts by means of media communiqués. We inform shareholders, clients, employees and the public simultaneously, comprehensively and regularly about our business performance, about value drivers as well as the implementation of our strategy and provide them with an overview of our key financial and operating figures. We maintain an open dialogue with analysts and investors in order to be able to report on the course of business on an ongoing basis. The aim is to ensure that the price of the LLB share represents the fair value of the company (see chapter “Economic value creation”).

Media relations

Irrespective of the ad hoc information and the annual media and analyst conference, we are in constant contact with the media and business journalists in our market regions. We make every effort to answer their questions in a transparent and timely manner. The LLB Group was the subject of around 820 media articles in 2021 (2020: 900).

Public affairs

Only by constantly seeking dialogue with different decision makers are we able to voice our opinion and be heard. LLB is therefore in regular contact with opinion leaders and selected representatives from the world of politics and economics. We are a member, too, of the key industry associations and organisations such as the Liechtenstein Chamber of Commerce and Industry and the Bankers Association (see chapter “Institutional Clients”). We exchange views with the Liechtenstein Financial Market Authority (FMA) on a regular basis. LLB is obliged to report to its majority shareholder, the Principality of Liechtenstein, on the course of business. Against this backdrop, there is a meeting twice a year of the senior management of the LLB Group and the Liechtenstein Head of Government. Once a year, the Group Board of Directors and the Group Executive Board invite the entire Government to a roundtable discussion.

Public relations

We use various channels to engage with the general public. With regular market commentaries and reports in local print media, we prove our expertise in financial matters. We normally strengthen our relationship with the local population by organising or sponsoring various events, but this was possible only to a limited extent during the reporting year due to the coronavirus situation.

Digital communication channels

The LLB Group has been consistently investing in the expansion of its digital communication channels for a number of years now. It operates a total of twelve different web portals and microsites that are centrally managed through the same content management system and are in conformity with the brand. We also reach our clients with selected information through mobile and online banking. In addition, we are in direct contact with clients over social media.