International Wealth Management
Information checkedInformation unaudited Information geprüft Information ungeprüft International Wealth Management
The International Wealth Management segment focuses on private banking clients as well as institutional and investment fund clients. In the private banking business area the emphasis lies on the Austrian and other Western Europe markets, as well as the growth markets in Central and Eastern Europe and the Middle East. This business segment offers international clients comprehensive services in investment advice, wealth management, asset structuring, financing facilities, as well as financial and retirement planning. The investment fund and institutional clients business areas encompass clients such as fiduciaries, asset managers, fund promoters, insurance companies, pension funds and public institutions. The focus lies on the home markets of Liechtenstein, Switzerland and Austria.
Business segment result
At CHF 49.9 million, the profit before tax of the International Wealth Management segment was almost 23 per cent higher than the previous yearʼs result. Operating income rose by CHF 11.6 million to CHF 104.9 million. All income contributors developed positively. The largest growth was achieved with interest income, which climbed by 52.7 per cent relative to the previous year to CHF 16.6 million. This was attributable mainly to higher USD interest rates. Fee and commission earnings benefitted from higher growth plus increased real estate revenues in Austria. Operating expenses increased slightly to CHF 54.9 million.
Net new money inflows of CHF 1.8 billion confirmed the positive trend of recent years. The segment registered very pleasing inflows particularly in investment fund business. For market-related reasons, client assets under management contracted by 9.6 per cent to CHF 64.9 billion.
Segment reporting
|
in CHF thousands |
First half 2022 |
First half 2021 1 |
+ / – % |
|
Net interest income |
16'604 |
10'875 |
52.7 |
|
Expected credit losses |
– 56 |
61 |
|
|
Net interest income after expected credit losses |
16'548 |
10'936 |
51.3 |
|
Net fee and commission income |
76'084 |
72'245 |
5.3 |
|
Net trading income |
12'240 |
10'107 |
21.1 |
|
Other income |
1 |
1 |
14.7 |
|
Total operating income |
104'873 |
93'289 |
12.4 |
|
Personnel expenses |
– 22'154 |
– 22'464 |
– 1.4 |
|
General and administrative expenses |
– 2'723 |
– 2'475 |
10.0 |
|
Depreciation |
– 197 |
– 222 |
– 11.2 |
|
Services (from) / to segments |
– 29'871 |
– 27'429 |
8.9 |
|
Total operating expenses |
– 54'945 |
– 52'590 |
4.5 |
|
Segment profit before tax |
49'928 |
40'699 |
22.7 |
1 The figures for the first half of 2021 were carried over and adapted to the new segment structure.
Performance figures
|
|
First half 2022 |
First half 2021 1 |
|
Gross margin (in basis points) 2 |
29.9 |
28.3 |
|
Cost Income Ratio (in per cent) 2 |
52.4 |
56.4 |
|
Net new money (in CHF millions) 2 |
1'793 |
2'490 |
|
Growth of net new money (in per cent) 2 |
2.5 |
4.1 |
1 The figures for the first half of 2021 were carried over and adapted to the new segment structure.
2 Definition available under www.llb.li/investors-apm
Additional information
|
|
30.06.2022 |
31.12.2021 1 |
+ / – % |
|
Business volume (in CHF millions) 2 |
66'055 |
72'904 |
– 9.4 |
|
Assets under management (in CHF millions) 2 |
64'857 |
71'760 |
– 9.6 |
|
Loans (in CHF millions) |
1'198 |
1'144 |
4.8 |
|
Employees (full-time equivalents, in positions) |
236 |
236 |
0.3 |
1 The figures for the first half of 2021 were carried over and adapted to the new segment structure.
2 Definition available under www.llb.li/investors-apm