Information unaudited Information ungeprüftRetail & Corporate Banking
The Retail & Corporate Banking segment encompasses the universal banking business in the domestic markets of Liechtenstein and Switzerland and offers the complete 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 and corporate pension provisioning. In addition, asset management and investment advisory services are of crucial importance for private banking clients in the German-speaking region (Liechtenstein / Switzerland / Germany).
In retail and corporate banking business modern bank branches are combined with mobile and web-based services. LLB has three branches in Liechtenstein, as well as the business locations of LLB Schweiz in the Swiss regions of Linthgebiet, Zurichsee, Sarganserland, Ausserschwyz, Winterthur, Thurgau, Zurich and St. Gallen. Furthermore, since January 2024, for the first time, it has a branch in Germany with three business locations in Munich, Frankfurt und Düsseldorf.
Business segment result
The segment profit before tax rose by 18.0 per cent to CHF 169.1 million. Interest differential business, which comprises the largest proportion of earnings in the Retail & Corporate Banking Division, posted a 17.6 per cent increase. This was attributable to the continual growth of mortgage lending business and generally higher interest rate levels. Furthermore, risk provisions for credit losses were reduced by net CHF 9.3 million (2023: CHF 0.2 million net reduction). Several long-standing legal cases were settled and brought to a successful conclusion. Fee and commission income also developed positively to reach CHF 93.6 million, and therefore exceeded the previous year’s result (2023: CHF 89.5 million). In total, operating income climbed by 16.0 per cent to CHF 317.1 million. The gross margin again improved and stood at 86 basis points. At 13.8 per cent, the rise in operating expenses was lower than the increase in operating income.
With a net new money inflow of CHF 1.0 billion, the segment again achieved a high growth rate of 4.7 per cent. The segment recorded further growth in lending business with loans to clients expanding by CHF 880 million. As a result, the business volume increased by 5.4 per cent to CHF 37.5 billion.
Business segment result: Retail & Corporate Banking
(in CHF millions)
Total operating income
Segment profit before taxes
Segment reporting
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in CHF thousands | 2024 | 2023 | +/- % |
Net interest income | 191’901 | 163’145 | 17.6 |
Expected credit losses | 9’258 | 166 | |
Net interest income after expected credit losses | 201’159 | 163’311 | 23.2 |
Net fee and commission income | 93’619 | 89’542 | 4.6 |
Net trading income | 19’219 | 18’590 | 3.4 |
Other income | 3’108 | 1’876 | 65.7 |
Total operating income | 317’106 | 273’319 | 16.0 |
Personnel expenses | – 56’501 | – 45’430 | 24.4 |
General and administrative expenses | – 6’342 | – 5’432 | 16.7 |
Depreciation | – 63 | – 56 | 10.9 |
Services (from) / to segments | – 85’134 | – 79’127 | 7.6 |
Total operating expenses | – 148’040 | – 130’046 | 13.8 |
Segment profit before tax | 169’066 | 143’273 | 18.0 |
Performance figures
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2024 | 2023 | |
Gross margin (in basis points) 1 | 85.7 | 79.9 |
Cost Income Ratio (in per cent) 1 | 48.1 | 47.6 |
Net new money (in CHF millions) 1 | 984 | 1’328 |
Growth of net new money (in per cent) 1 | 4.7 | 6.9 |
1Definition available under https://www.llb.li/investors-apm
Additional information
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31.12.2024 | 31.12.2023 | +/- % | |
Business volume (in CHF millions) 1 | 37’534 | 35’602 | 5.4 |
Assets under management (in CHF millions) 1 | 22’004 | 20’952 | 5.0 |
Loans (in CHF millions) | 15’530 | 14’650 | 6.0 |
Employees (full-time equivalents, in positions) | 321 | 273 | 17.7 |
1Definition available under https://www.llb.li/investors-apm