2 Capital structure
2.1 Capital
The share capital of LLB comprises 30ʼ800ʼ000 registered, fully paid shares with a nominal value of CHF 5.00 each and therefore amounts to CHF 154.0 million.
2.2 Conditional and approved capital
On the balance sheet date, there was no conditional capital and no approved capital.
2.3 Changes to capital
The share capital amounts to CHF 154.0 million and has not changed during the last three years.
The composition of and changes in equity during the last three reporting years are as follows:
Equity
in CHF thousands | 31.12.2025 | 31.12.2024 | 31.12.2023 |
Share capital | 154’000 | 154’000 | 154’000 |
Share premium | – 16’308 | – 15’127 | – 15’066 |
Treasury shares | – 30’426 | – 24’634 | – 13’356 |
Retained earnings 1 | 2’292’656 | 2’206’579 | 2’140’361 |
Other reserves | – 44’106 | – 106’766 | – 136’250 |
Total equity attributable to shareholders of LLB | 2’355’816 | 2’214’052 | 2’129’690 |
Non-controlling interests | 1’005 | 1’046 | 962 |
Total equity | 2’356’822 | 2’215’098 | 2’130’652 |
1The closing date 31.12.2024 was restated. Information can be found in point 1.2 in the Accounting principles.
2.4 Shares and participation certificates
As at 31 December 2025, the share capital amounted to 30ʼ800ʼ000 registered, fully paid shares with a nominal value of CHF 5.00. With the exception of the LLB shares held by Liechtensteinische Landesbank (428ʼ413 shares), all the shares are eligible for dividend. As at 31 December 2025, share capital eligible for dividend therefore amounted to CHF 151.9 million.
In principle, all LLB shares are eligible for voting according to the principle of “one share, one vote”. On account of the regulations concerning the purchase of own shares (Art. 306a ff. PGR / Liechtenstein Law on Persons and Companies), the shares held by Liechtensteinische Landesbank and its subsidiaries are excluded from voting rights. No priority rights or similar entitlements exist.
When new shares are issued, the shareholders have a subscription right entitling them to subscribe to new shares in proportion to the number of shares they already hold. Liechtensteinische Landesbank AG has not issued any participation certificates.
2.5 Profit-sharing certificates
Liechtensteinische Landesbank AG has no outstanding profit-sharing certificates.
2.6 Transfer limitations and nominee registrations
The registered shares of Liechtensteinische Landesbank are fully transferable, whereby the Principality of Liechtenstein may not sell its stake of at least 51 per cent of the capital.
Liechtensteinische Landesbank maintains a share register containing the names of the owners of registered shares. Upon request, the purchasers of registered shares are entered in the share register as shareholders having a voting right provided that they expressly render a declaration that they have purchased these shares in their own name for their own account. Without this declaration, the Board of Directors can refuse to enter the shares with voting rights in the register.
Pursuant to Art. 5a of the statutes (llb.li/statutes), the Board of Directors has determined that nominee registrations without such a declaration shall generally be entered without voting rights. The legal option to refuse registration in the share register on important grounds remains reserved.
2.7 Convertible bonds and options
As at 31 December 2025, Liechtensteinische Landesbank had no convertible bonds or options on its own shares outstanding.
In 2019, 2020, 2023, 2024 and 2025, it also issued a total of seven fixed-interest bonds. Detailed information on this can be found in the Financial report.