Information unaudited Information ungeprüftThe LLB share
Market capitalisation
The LLB share has been listed on the Swiss stock market, SIX Swiss Exchange, since 1993 and assigned to the “International Reporting Standard” segment (see chapter Group structure and shareholders). In 2025, around 2.4 million LLB shares (2024: 1.6 million) were traded, corresponding to 7.7 per cent (2024: 5.2 %) of total shares issued. On 31 December 2025, the market capitalisation of Liechtensteinische Landesbank AG stood at CHF 2.6 billion (31.12.2024: CHF 2.2 billion) with 30.8 million registered shares issued.
Shareholder structure
Liechtensteinische Landesbank (LLB) has a stable ownership structure. The Principality of Liechtenstein holds around 56 per cent of the share capital. In its participation strategy, last revised in 2024, the Principality declares its support for the stock exchange listing of LLB and for its entrepreneurial autonomy. This provides us with a long-term strategic orientation.
In addition to the majority shareholder, the Haselsteiner Familien-Privatstiftung and the grosso Holding GmbH, as well as institutional investors such as UBS Fund Management (Switzerland) AG, are among the largest shareholders. LLB itself holds around 1.4 per cent of its own shares.
Further details regarding the shareholder structure and the share register can be found in the Corporate governance report (see chapter Group structure and shareholders).
Share price performance
Although US customs tariffs caused turbulence on the stock markets in the first half year, the subject of artificial intelligence (AI) generated a tail wind in the second half year. In a development not seen often in recent years, the European markets outperformed the US market. Measured against the Swiss Performance Index (SPI), shares listed on the Swiss stock exchange rose by 17.8 per cent. The securities in the SPI Level 2 Banking Index, which depicts companies from the banking sector in particular, even exceeded this by climbing by 28.2 per cent.
The LLB share attained a very pleasing result in the report year. Following a gain of 10.5 per cent in 2024, it achieved a substantially higher plus of 23.7 per cent in 2025. The highest price for the year was CHF 90.10, and the lowest price for the year was CHF 71.20.
Total return on the LLB share
Analyses and recommendations in relation to the LLB share are published at regular intervals by Daniel Regli of the Züricher Kantonalbank.
Dividend policy
The LLB Group pursues an attractive, long-term dividend policy for the benefit of its shareholders.
The highest priority here is upholding a balance between maintaining our financial stability and providing an attractive dividend. In line with our ACT-26 strategy, we intend to keep equity at a Tier 1 ratio of over 16 per cent. Our dividend policy envisages a payout ratio of more than 50 per cent. For the 2025 business year it amounts to 51.1 per cent (2024: 51.0 %). Accordingly, CHF 85.0 million (2024: CHF 85.2 Mio.) will be distributed to our shareholders.
Based on the share price at the end of 2025, this corresponds to a dividend yield of 3.3 per cent. This figure represents the ratio between the distributed dividend and the share price and is regarded as a key indicator of the profitability of an equity investment. With a yield of on average 4.0 per cent over the last ten years, our LLB share is regarded as an attractive security in market comparison. This underlines the LLB Group’s sound financial basis and our consistent focus on a sustainable dividend policy.
Dividend per share (2020–2025* in CHF)
*The Board of Directors will propose a stable dividend of CHF 2.80 for the year 2025 at the General Meeting on 17 April 2026.
Communication with the capital market
The annual and interim financial results are published in accordance with the legal requirements. At the General Meeting of Shareholders, we provide transparent information about the course of business. We nurture a continual dialogue with investors at regular events. All publicly accessible information about the LLB Group can be obtained from our website at llb.li. A calendar of our publications and presentations can be found in the Corporate governance report, chapter Information policy.
LLB share
in CHF thousands | 31.12.2025 | 31.12.2024 |
Total of registered shares issued (fully paid up) | 30’800’000 | 30’800’000 |
Number of shares eligible for dividend | 30’371’587 | 30’437’618 |
Free float (number of shares) | 11’230’372 | 11’296’403 |
Free float (in per cent) | 36.5 | 36.7 |
Year’s high (11 August 2025 / 16 August 2024) | 90.10 | 76.30 |
Year’s low (10 January 2025 / 3 January 2024) | 71.20 | 65.10 |
Year-end price | 83.80 | 70.30 |
Total return LLB share (in per cent) | 23.7 | 10.5 |
Performance SPI (in per cent) | 17.8 | 6.2 |
Performance SPI Level 2 Banks Index (in per cent) 1 | 28.2 | 5.9 |
Average trading volume (number of shares) | 9’803 | 6’290 |
Market capitalization (in CHF billions) | 2.58 | 2.17 |
Basic earnings per share attributable to the shareholders of LLB (in CHF) | 5.47 | 5.47 |
Dividend per LLB share (in CHF) | 2.80 2 | 2.80 |
Payout ratio (in per cent) | 51.1 | 51.0 |
Dividend yield at year-end price (in per cent) 3 | 3.3 | 4.0 |
Return on equity (in per cent) 3 | 7.3 | 7.7 |
Eligible capital per LLB share (in CHF) 4 | 63.4 | 60.3 |
12025 = SPI Level 2 Banks Index / 2024 = SWX Banks Index
2Proposal of the Board of Directors to the General Meeting of Shareholders on 17 April 2026
3Definition available under llb.li/investors-apm
4The previous year was restated. Information can be found in point 1.2 in the Accounting principles.