Retail & Corporate Banking
Information checkedInformation unaudited Information geprüft Information ungeprüft Retail & Corporate Banking
The Retail & Corporate Banking segment encompasses the universal banking business in the domestic markets of Liechtenstein and Switzerland and offers the entire spectrum of banking and financial services. Traditionally, savings and mortgage lending business have always played a very important role. This is supplemented by financial planning, corporate pension provisioning, as well as specific investment advice and asset management for clients having available assets of up to CHF 0.5 million. It also takes care of locally oriented private banking clients in the German-speaking region (Liechtenstein / Switzerland / Germany).
The Retail & Corporate Banking combines modern bank branches with mobile and web-based services. It has three LLB branches in Liechtenstein, as well as 17 Bank Linth branches in the Swiss regions of Linthgebiet, Zurichsee, Sarganserland, Ausserschwyz, Winterthur and Thurgau.
Business segment result
Interest income grew by over 6 per cent compared with the previous year. The increase was attributable to the continuing growth of mortgage lending business and higher USD interest rates. In contrast, larger risk provisions were allocated in the first half of 2022. Lower volumes of client assets had a negative impact on fee and commission income. However, increased trading activity meant that trading income climbed by 23.7 per cent to CHF 10.2 million. Operating expenses were down slightly by 1.2 per cent, resulting in a segment profit before tax of CHF 45.1 million.
Market turbulence led to a contraction of the business volume by 1.1 per cent to CHF 32.3 billion. In contrast, positive net new money inflows of CHF 716 million and growth in lending business of CHF 386 million were registered.
Segment reporting
|
in CHF thousands |
First half 2022 |
First half 2021 1 |
+ / – % |
|
Net interest income |
54'126 |
50'914 |
6.3 |
|
Expected credit losses |
– 3'373 |
897 |
|
|
Net interest income after expected credit losses |
50'753 |
51'812 |
– 2.0 |
|
Net fee and commission income |
44'039 |
47'118 |
– 6.5 |
|
Net trading income |
10'229 |
8'271 |
23.7 |
|
Other income |
825 |
1'061 |
– 22.3 |
|
Total operating income |
105'846 |
108'262 |
– 2.2 |
|
Personnel expenses |
– 21'926 |
– 21'693 |
1.1 |
|
General and administrative expenses |
– 2'409 |
– 2'024 |
19.0 |
|
Depreciation |
– 17 |
– 23 |
– 24.3 |
|
Services (from) / to segments |
– 36'364 |
– 37'724 |
– 3.6 |
|
Total operating expenses |
– 60'716 |
– 61'464 |
– 1.2 |
|
Segment profit before tax |
45'130 |
46'798 |
– 3.6 |
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 |
66.8 |
68.3 |
|
Cost Income Ratio (in per cent) 2 |
55.6 |
57.2 |
|
Net new money (in CHF millions) 2 |
716 |
284 |
|
Growth of net new money (in per cent) 2 |
3.6 |
1.5 |
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 |
32'253 |
32'620 |
– 1.1 |
|
Assets under management (in CHF millions) 2 |
19'133 |
19'887 |
– 3.8 |
|
Loans (in CHF millions) |
13'119 |
12'733 |
3.0 |
|
Employees (full-time equivalents, in positions) |
247 |
251 |
– 1.6 |
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