Information unaudited Information ungeprüftInternational Wealth Management
The International Wealth Management segment focuses on international private banking clients as well as institutional and investment fund clients. In the private banking business area the emphasis lies on the Austrian market and other markets in Central Europe and the Middle East. Investment advisory services, wealth management, asset structuring, financing facilities, as well as financial and retirement planning are our core competencies for these clients. The investment fund and institutional clients business areas encompass clients such as fiduciaries, asset managers, fund promoters, family offices as well as insurance companies, pension funds and public institutions. The core markets are Liechtenstein, Switzerland, Austria and Germany.
Business segment result
The segment result before taxes of the International Wealth Management Division amounted to CHF 117.9 million, 0.8 per cent higher than the previous year’s figure. Operating income rose to CHF 252.4 million (2024: CHF 243.8 million). Substantial growth was achieved above all in fee and commission business. At CHF 166.9 million, income from this business was 22.4 per cent up year on year (2024: CHF 136.3 million). This development was largely attributable to the integration of the ZKB Österreich as well as higher volumes of client assets under management. Trading income also showed a pleasing development, benefitting from more intensive client trading activities. As a result, trading income rose by 14.5 per cent. In contrast, due to lower interest rates, interest income fell by 26.1 per cent to CHF 63.6 million (2024: CHF 86.0 million). In line with corporate strategy, operating income climbed to CHF 134.5 million (2024: CHF 126.9 million). The increase was principally attributable to the integration of ZKB Österreich.
With a net new money inflow of CHF 2ʼ484 million (2024: CHF 1ʼ303 million), the segment achieved very pleasing growth, clearly exceeding the previous year’s level. Client assets under management expanded by 12.9 per cent to CHF 83.5 billion (31.12.2024: CHF 73.9 billion).
Business segment result: International Wealth Management
(in CHF millions)
Segment reporting
in CHF thousands | 2025 | 2024 | +/- % |
Net interest income | 63’573 | 85’969 | – 26.1 |
Expected credit losses | – 13 | – 15 | – 14.4 |
Net interest income after expected credit losses | 63’560 | 85’953 | – 26.1 |
Net fee and commission income | 166’909 | 136’323 | 22.4 |
Net trading income | 21’913 | 19’144 | 14.5 |
Other income | 0 | 2’402 | – 100.0 |
Total operating income | 252’383 | 243’822 | 3.5 |
Personnel expenses | – 57’280 | – 50’601 | 13.2 |
General and administrative expenses | – 7’129 | – 6’654 | 7.1 |
Depreciation | – 605 | – 363 | 66.6 |
Services (from) / to segments | – 69’501 | – 69’323 | 0.3 |
Total operating expenses | – 134’515 | – 126’941 | 6.0 |
Segment profit before tax | 117’868 | 116’882 | 0.8 |
Performance figures
2025 | 2024 | |
Gross margin (in basis points) 1 | 31.4 | 33.0 |
Cost Income Ratio (in per cent) 1 | 53.3 | 52.1 |
Net new money (in CHF millions) 1 | 2’484 | 1’303 |
Growth of net new money (in per cent) 1 | 3.4 | 2.0 |
1Definition available under llb.li/investors-apm
Additional information
31.12.2025 | 31.12.2024 | +/- % | |
Business volume (in CHF millions) 1 | 84’832 | 75’018 | 13.1 |
Assets under management (in CHF millions) 1 | 83’462 | 73’915 | 12.9 |
Loans (in CHF millions) | 1’370 | 1’103 | 24.2 |
Employees (full-time equivalents, in positions) | 299 | 275 | 8.8 |
1Definition available under llb.li/investors-apm