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
The segment profit before taxes rose by 36.2 per cent to CHF 61.5 million.
Interest differential business, which comprises the largest proportion of earnings in the Retail and Corporate Banking Division, posted a 35.3 per cent increase. This was attributable to the continual growth of mortgage lending business and higher interest rates. Fee and commission income remained stable and at CHF 45.1 million was slightly up on the equivalent period in the previous year. In contrast, trading activities contracted resulting in lower trading income of CHF 9.3 million. In total, operating income climbed by over 19 per cent to CHF 126.2 million. The gross margin increased to 76 basis points. Operating expenses were down substantially by 6.7 per cent.
Growth continued to be extremely pleasing with a positive net new money inflow of CHF 0.6 billion. Inflows from clients in Germany, as well as increased lending business by CHF 0.5 billion contributed equally to this growth. The business volume expanded to CHF 34.5 billion.
Segment reporting
|
in CHF thousands |
First half 2023 |
First half 2022 |
+ / – % |
|
Net interest income |
73'208 |
54'126 |
35.3 |
|
Expected credit losses |
– 2'093 |
– 3'373 |
– 37.9 |
|
Net interest income after expected credit losses |
71'115 |
50'753 |
40.1 |
|
Net fee and commission income |
45'063 |
44'039 |
2.3 |
|
Net trading income |
9'277 |
10'229 |
– 9.3 |
|
Other income |
770 |
825 |
– 6.6 |
|
Total operating income |
126'224 |
105'846 |
19.3 |
|
Personnel expenses |
– 22'301 |
– 21'926 |
1.7 |
|
General and administrative expenses |
– 2'619 |
– 2'409 |
8.7 |
|
Depreciation |
– 25 |
– 17 |
47.3 |
|
Services (from) / to segments |
– 39'808 |
– 36'364 |
9.5 |
|
Total operating expenses |
– 64'753 |
– 60'716 |
6.7 |
|
Segment profit before tax |
61'471 |
45'130 |
36.2 |
Performance figures
|
|
First half 2023 |
First half 2022 |
|
Gross margin (in basis points) 1 |
75.8 |
66.8 |
|
Cost Income Ratio (in per cent) 1 |
50.5 |
55.6 |
|
Net new money (in CHF millions) 1 |
594 |
716 |
|
Growth of net new money (in per cent) 1 |
3.1 |
3.6 |
1 Definition under www.llb.li/investors-apm
Additional information
|
|
30.06.2023 |
31.12.2022 |
+ / – % |
|
Business volume (in CHF millions) 1 |
34'458 |
33'003 |
4.4 |
|
Assets under management (in CHF millions) 1 |
20'315 |
19'365 |
4.9 |
|
Loans (in CHF millions) |
14'144 |
13'638 |
3.7 |
|
Employees (full-time equivalents, in positions) |
253 |
248 |
2.1 |
1 Definition under www.llb.li/investors-apm