Segment reporting
Information checkedInformation unaudited Information geprüft Information ungeprüft Segment reporting
The business activities of the LLB Group are divided into the following two business areas. These form the basis for the segment reporting:
- The Retail and Corporate Banking segment services locally oriented private banking clients in Liechtenstein, Switzerland and Germany, as well as corporate and private clients in Liechtenstein and Switzerland.
- The International Wealth Management segment cares for Austrian and international private banking clients, as well as institutional and investment fund clients.
The segments receive comprehensive support from the Corporate Center. It comprises the following functions: finance, credit and risk management, legal and compliance matters, trading and securities administration, payment services, human resources management, communication and marketing, asset management, corporate development, as well as logistics and IT services.
Following the management approach of IFRS 8 “Operating segments”, operating segments are reported in accordance with the internal reporting provided to the Group Executive Management (chief operating decision maker), which is responsible for allocating resources to the reportable segments and assessing their performance. All operating segments used by the LLB Group meet the definition of a reportable segment under IFRS 8.
In accordance with the principle of responsibility and based on the organisational structure, income and expenditure are allocated to the business divisions. Indirect costs resulting from services provided internally are accounted for according to the principle of causation and are recorded as a revenue increase for the service provider and as a cost increase for the service beneficiary. The remaining income and expenditure for overriding services which cannot be assigned to the segments are shown under Corporate Center. Furthermore, consolidation adjustments are reported under Corporate Center.
Transactions between the segments are executed at standard market conditions.
Financial year 2021
|
in CHF thousands |
Retail & Corporate Banking 1 |
International Wealth Management 1 |
Corporate Center 1 |
Total Group |
|
Net interest income |
103'533 |
22'096 |
28'382 |
154'010 |
|
Expected credit losses |
5'539 |
– 3'052 |
0 |
2'487 |
|
Net interest income after expected credit losses |
109'072 |
19'044 |
28'382 |
156'497 |
|
Net fee and commission income |
95'096 |
149'728 |
– 11'186 |
233'638 |
|
Net trading income |
17'544 |
19'832 |
41'590 |
78'966 |
|
Net income from financial investments |
0 |
0 |
3'727 |
3'727 |
|
Other income |
2'016 |
2 |
1'557 |
3'574 |
|
Total operating income 2 |
223'728 |
188'606 |
64'069 |
476'403 |
|
Personnel expenses |
– 43'216 |
– 44'065 |
– 102'711 |
– 189'991 |
|
General and administrative expenses |
– 4'037 |
– 6'047 |
– 73'361 |
– 83'445 |
|
Depreciation |
– 40 |
– 444 |
– 39'071 |
– 39'555 |
|
Services (from) / to segments |
– 76'498 |
– 54'976 |
131'474 |
0 |
|
Total operating expenses |
– 123'790 |
– 105'531 |
– 83'670 |
– 312'991 |
|
Operating profit before tax |
99'938 |
83'074 |
– 19'601 |
163'412 |
|
Tax expenses |
|
|
|
– 25'549 |
|
Net profit |
|
|
|
137'863 |
1 The figures for the financial year 2021 were carried over and adapted to the new segment structure.
2 There were no substantial earnings generated between the segments so that income between the segments is not material.
Financial year 2022
|
in CHF thousands |
Retail & Corporate Banking |
International Wealth Management |
Corporate Center |
Total Group |
|
Net interest income |
111'820 |
51'173 |
– 10'746 |
152'247 |
|
Expected credit losses |
– 4'695 |
1'994 |
– 17 |
– 2'718 |
|
Net interest income after expected credit losses |
107'126 |
53'167 |
– 10'763 |
149'529 |
|
Net fee and commission income |
85'010 |
138'287 |
– 12'350 |
210'947 |
|
Net trading income |
20'806 |
22'350 |
92'994 |
136'149 |
|
Net income from financial investments |
0 |
0 |
– 933 |
– 933 |
|
Other income |
1'845 |
4 |
5'650 |
7'499 |
|
Total operating income 1 |
214'786 |
213'808 |
74'597 |
503'191 |
|
Personnel expenses |
– 43'974 |
– 44'107 |
– 108'067 |
– 196'148 |
|
General and administrative expenses |
– 4'416 |
– 11'274 |
– 80'327 |
– 96'017 |
|
Depreciation |
– 43 |
– 391 |
– 35'632 |
– 36'066 |
|
Services (from) / to segments |
– 76'130 |
– 59'549 |
135'679 |
0 |
|
Total operating expenses |
– 124'563 |
– 115'321 |
– 88'347 |
– 328'231 |
|
Operating profit before tax |
90'223 |
98'487 |
– 13'749 |
174'961 |
|
Tax expenses |
|
|
|
– 25'511 |
|
Net profit |
|
|
|
149'450 |
1 There were no substantial earnings generated between the segments so that income between the segments is not material.
There were no revenues deriving from transactions with a single external customer that amounted to ten per cent or more of the Group’s revenues.
Segment reporting by geographic location
The geographic analysis of operating income and assets is based on the location of the company in which the transactions and assets are recorded.
Financial year 2021
|
|
|
|
|
|
|
|
|
|
|
|
Liechtenstein |
Switzerland |
Austria |
Total Group |
||||
|
|
|
in % |
|
in % |
|
in % |
|
in % |
|
Operating income (in CHF thousands) |
292'141 |
61.3 |
111'410 |
23.4 |
72'852 |
15.3 |
476'403 |
100.0 |
|
Total assets (in CHF millions) |
13'926 |
55.4 |
8'679 |
34.5 |
2'524 |
10.0 |
25'129 |
100.0 |
Financial year 2022
|
|
|
|
|
|
|
|
|
|
|
|
Liechtenstein |
Switzerland |
Austria |
Total Group |
||||
|
|
|
in % |
|
in % |
|
in % |
|
in % |
|
Operating income (in CHF thousands) |
315'084 |
62.6 |
107'829 |
21.4 |
80'278 |
16.0 |
503'191 |
100.0 |
|
Total assets (in CHF millions) |
14'651 |
58.1 |
8'174 |
32.4 |
2'391 |
9.5 |
25'216 |
100.0 |