Private Banking
Information checkedInformation unaudited Information geprüft Information ungeprüft Private Banking
The Private Banking Division of the LLB Group combines advisory quality and investment competence with the latest technology. The focus lies on the onshore markets of Liechtenstein, Switzerland and Austria, the traditional cross-border markets of Germany and Western Europe, as well as the growth markets in Central and Eastern Europe and the Middle East. In addition, the Private Banking Division is responsible for groupwide product management.
The Private Banking Division offers international clients investment advice, wealth management, asset structuring, financing facilities, as well as financial and retirement planning. These services are provided at its three banks in Liechtenstein (Vaduz), Switzerland (Uznach) and Austria (Vienna), as well as at the bank branches of LLB AG in Liechtenstein and at the business locations of Bank Linth in eastern Switzerland. In addition, the Private Banking Division is represented through branches in Zurich-Erlenbach, Geneva, Abu Dhabi and Dubai. In addition, from autumn 2021, for the first time with Salzburg, we are opening a second business base in Austria.
Business segment result
At CHF 24.8 million, the profit before tax of the Private Banking Segment was almost 30 per cent higher than the previous year's result. Operating income rose by CHF 7.2 million to CHF 64.4 million. Fee and commission business developed positively thanks to the higher volume of client assets under management, climbing by 20.6 per cent to CHF 47.8 million. In the previous year, the higher provisions for credit risks had had an adverse effect on the segment business result. Operating expenses rose slightly to CHF 39.6 million. In the previous year the adjustment of the conversion rate for the LLB pension fund had provided a positive one-time impact on personnel expenses.
The net new money inflows of CHF 969 million confirmed the positive growth trend and, in combination with the good market performance, led to an increase in client assets to CHF 19.0 billion. The business volume expanded to CHF 21.0 billion.
Segment reporting
|
in CHF thousands |
First half 2021 |
First half 2020 |
+ / – % |
|
Net interest income |
10'471 |
15'648 |
– 33.1 |
|
Expected credit losses |
110 |
– 4'406 |
|
|
Net interest income after expected credit losses |
10'581 |
11'242 |
– 5.9 |
|
Net fee and commission income |
47'828 |
39'656 |
20.6 |
|
Net trading income |
5'961 |
6'283 |
– 5.1 |
|
Other income |
1 |
1 |
– 51.3 |
|
Total operating income |
64'371 |
57'182 |
12.6 |
|
Personnel expenses |
– 19'477 |
– 18'623 |
4.6 |
|
General and administrative expenses |
– 1'200 |
– 1'065 |
12.7 |
|
Depreciation |
– 48 |
– 64 |
– 25.6 |
|
Services (from) / to segments |
– 18'895 |
– 18'252 |
3.5 |
|
Total operating expenses |
– 39'619 |
– 38'005 |
4.2 |
|
Segment profit before tax |
24'752 |
19'177 |
29.1 |
Performance figures
|
|
First half 2021 |
First half 2020 |
|
Gross margin (in basis points) * |
65.3 |
69.5 |
|
Cost Income Ratio (in per cent) * |
61.7 |
61.7 |
|
Net new money (in CHF millions) * |
969 |
171 |
|
Growth of net new money (in per cent) * |
5.6 |
1.0 |
* Definition available under www.llb.li/investors-apm
Additional information
|
|
30.06.2021 |
31.12.2020 |
+ / – % |
|
Business volume (in CHF millions) * |
21'006 |
19'289 |
8.9 |
|
Assets under management (in CHF millions) * |
19'047 |
17'401 |
9.5 |
|
Loans (in CHF millions) |
1'960 |
1'887 |
3.8 |
|
Employees (full-time equivalents, in positions) |
193 |
186 |
4.1 |
* Definition available under www.llb.li/investors-apm