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LLB Annual Report 2023 de

Segment reporting

Information unaudited 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 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.

Financial year 2023

in CHF thousands

Retail & Corporate Banking

International Wealth Management

Corporate Center

Total Group

Net interest income

163'145

102'632

– 101'384

164'393

Expected credit losses

166

– 321

– 45

– 199

Net interest income after expected credit losses

163'311

102'311

– 101'429

164'193

Net fee and commission income

89'542

125'184

– 14'681

200'045

Net trading income

18'590

18'448

136'133

173'171

Net income from financial investments

0

0

7'262

7'262

Other income

1'876

– 4'749

– 30

– 2'904

Total operating income 1

273'319

241'194

27'255

541'768

Personnel expenses

– 45'430

– 47'801

– 116'232

– 209'463

General and administrative expenses

– 5'432

– 6'357

– 88'147

– 99'936

Depreciation

– 56

– 346

– 38'603

– 39'006

Services (from) / to segments

– 79'127

– 64'133

143'260

0

Total operating expenses

– 130'046

– 118'637

– 99'722

– 348'405

Operating profit before tax

143'273

122'557

– 72'467

193'363

Tax expenses

 

 

 

– 28'630

Net profit

 

 

 

164'733

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 Groupʼs 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 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

Financial year 2023

 

 

 

 

 

 

 

 

 

 

Liechtenstein

Switzerland

Austria

Total Group

 

 

in %

 

in %

 

in %

 

in %

Operating income (in CHF thousands)

324'419

59.9

108'040

19.9

109'310

20.2

541'768

100.0

Total assets (in CHF millions)

15'030

58.5

8'496

33.1

2'166

8.4

25'692

100.0