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 encompasses clients such as fiduciaries, asset managers, fund promoters, family offices as well as insurance companies, pension funds and public institutions. The focus lies on the home markets of Liechtenstein, Switzerland, Germany and Austria.
Business segment result
The segment result before taxes of the International Wealth Management Division amounted to CHF 61.4 million. In comparison with the equivalent period in the previous year, this represents an increase of 2.9 per cent. Operating income rose to CHF 129.3 million (first half of 2024: CHF 122.4 million). Significant growth was achieved above all in fee and commission business. At CHF 84.6 million, income from this business was 26.0 per cent up on the same period in the previous year. This development was largely attributable to the first-time integration of the former ZKB Österreich. In addition, higher client assets under management had a positive impact on the business result. Trading income also developed pleasingly. As a result of more intensive client trading activity, trading income climbed by 19.6 per cent. In contrast, due to lower interest rates, interest income fell by 27.5 per cent to CHF 33.1 million (first half of 2024: CHF 45.6 million). In line with corporate strategy, operating expenses rose to CHF 67.9 million (first half of 2024: CHF 62.7 million), the increase was principally attributable to the integration of ZKB Österreich.
In comparison with the previous year, solid growth was achieved with net new money inflows, which climbed by CHF 954 million. Particularly pleasing growth was attained in institutional banking in Austria. Client assets under management expanded by 4.4 per cent to CHF 77.2 billion.
Segment reporting
in CHF thousands | First half 2025 | First half 2024 | +/- % |
Net interest income | 33’060 | 45’585 | – 27.5 |
Expected credit losses | 70 | – 17 | |
Net interest income after expected credit losses | 33’130 | 45’567 | – 27.3 |
Net fee and commission income | 84’631 | 67’143 | 26.0 |
Net trading income | 11’554 | 9’659 | 19.6 |
Other income | 0 | 1 | – 92.3 |
Total operating income | 129’314 | 122’370 | 5.7 |
Personnel expenses | – 29’014 | – 24’867 | 16.7 |
General and administrative expenses | – 4’336 | – 2’881 | 50.5 |
Depreciation | – 288 | – 183 | 57.8 |
Services (from) / to segments | – 34’248 | – 34’723 | – 1.4 |
Total operating expenses | – 67’887 | – 62’654 | 8.4 |
Segment profit before tax | 61’428 | 59’716 | 2.9 |
Performance figures
First half 2025 | First half 2024 | |
Gross margin (in basis points) 1 | 32.8 | 33.8 |
Cost Income Ratio (in per cent) 1 | 52.0 | 51.2 |
Net new money (in CHF millions) 1 | 954 | 560 |
Growth of net new money (in per cent) 1 | 1.3 | 0.9 |
1Definition available under llb.li/investors-apm
Additional information
30.06.2025 | 31.12.2024 | +/- % | |
Business volume (in CHF millions) 1 | 78’326 | 75’018 | 4.4 |
Assets under management (in CHF millions) 1 | 77’178 | 73’915 | 4.4 |
Loans (in CHF millions) | 1’147 | 1’103 | 4.0 |
Employees (full-time equivalents, in positions) | 307 | 275 | 11.8 |
1Definition available under llb.li/investors-apm