Retail & Corporate Banking
Information checkedInformation unaudited Information geprüft Information ungeprüft Retail & Corporate Banking
The Retail & Corporate Banking Division of the LLB Group offers the entire spectrum of banking and financial services for private and corporate clients in Liechtenstein and Switzerland at all phases of the life and business cycle. Traditionally, savings and mortgage lending business have always played a very important role. This is supplemented by financial planning and corporate pension provisioning.
In addition, the Retail & Corporate Banking Division provides specific investment advice and asset management to clients having available assets of up to CHF 0.5 million. At the same time, the LLB Group offers services for small and medium-sized enterprises (SMEs).
Retail & Corporate Banking combines modern bank branches with mobile and web-based services. It has three LLB branches in Liechtenstein as well as 19 Bank Linth branches in the Swiss regions of Linthgebiet, Zurichsee, Sarganserland, Ausserschwyz, Winterthur and Thurgau.
Business segment result
Interest differential business, which comprises the largest part of earnings in private and corporate client business, developed positively in spite of the persisting pressure on margins and, at CHF 45.0 million, attained the same level as in the previous year. In contrast to the allocation of provisions in the previous year, provisions for expected credit losses were written back this year. In addition, fee and commission income rose by 12.0 per cent. The segment profit before taxes at CHF 26.9 million was 33.4 per cent above the level of the previous year.
The business volume expanded by 2.4 per cent to CHF 21.3 billion. This was largely attributable to net new money inflows of CHF 308 million, as well as continued growth in mortgage lending business. The segment attained the net new money inflows and the growth in lending business in both the home markets of Switzerland and Liechtenstein.
Segment reporting
|
in CHF thousands |
First half 2021 |
First half 2020 |
+ / – % |
|
Net interest income |
45'044 |
45'324 |
– 0.6 |
|
Expected credit losses |
897 |
– 6'173 |
|
|
Net interest income after expected credit losses |
45'941 |
39'152 |
17.3 |
|
Net fee and commission income |
18'805 |
16'783 |
12.0 |
|
Net trading income |
4'915 |
4'879 |
0.7 |
|
Other income |
1'061 |
1'076 |
– 1.5 |
|
Total operating income |
70'722 |
61'890 |
14.3 |
|
Personnel expenses |
– 14'550 |
– 13'323 |
9.2 |
|
General and administrative expenses |
– 1'935 |
– 791 |
144.7 |
|
Depreciation |
– 11 |
0 |
|
|
Services (from) / to segments |
– 27'322 |
– 27'602 |
– 1.0 |
|
Total operating expenses |
– 43'819 |
– 41'716 |
5.0 |
|
Segment profit before tax |
26'903 |
20'175 |
33.4 |
Performance figures
|
|
First half 2021 |
First half 2020 |
|
Gross margin (in basis points) * |
66.4 |
68.0 |
|
Cost Income Ratio (in per cent) * |
62.8 |
61.3 |
|
Net new money (in CHF millions) * |
308 |
422 |
|
Growth of net new money (in per cent) * |
3.1 |
4.5 |
* Definition available under www.llb.li/investors-apm
Additional information
|
|
30.06.2021 |
31.12.2020 |
+ / – % |
|
Business volume (in CHF millions) * |
21'305 |
20'800 |
2.4 |
|
Assets under management (in CHF millions) * |
10'189 |
9'912 |
2.8 |
|
Loans (in CHF millions) |
11'115 |
10'888 |
2.1 |
|
Employees (full-time equivalents, in positions) |
184 |
183 |
0.2 |
* Definition available under www.llb.li/investors-apm