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 entire spectrum of banking and financial services. Traditionally, savings and mortgage lending business has always played a very important role. This is supplemented by financial planning and corporate pension provisioning. In addition, a particularly important business pillar is wealth management and investment advisory services 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 business locations of LLB Schweiz in the Swiss regions of Linthgebiet, Lake Zurich, Sarganserland, Ausserschwyz, Winterthur, Thurgau, Zurich and St. Gallen. Since January 2024 , it has also operated a bank branch in Germany with three business locations in Munich, Frankfurt and Dusseldorf.
Business segment result
The segment profit before tax decreased by 16.4 per cent to CHF 80.0 million. Interest differential business, which comprises the largest proportion of earnings in the Retail & Corporate Banking Division, fell by 8.3 per cent as a result of lower interest rates. Risk provisions for credit losses were reduced by net CHF 3.9 million (first half of 2024: CHF 11.0 million net release). Fee and commission income developed very successfully and, at CHF 50.4 million, was 5.6 per cent above the previous year’s value (first half of 2024: CHF 47.7 million). In addition, trading income benefitted from intensified client activity rising by 32.0 per cent to CHF 12.2 million (first half of 2024: CHF 9.3 million). In total, operating income fell by 6.4 per cent to CHF 155.6 million. The gross margin declined accordingly to 80 basis points. Operating expenses climbed by 7.1 per cent, this was primarily attributable to higher personnel expenses as a result of a higher average headcount in comparison with the equivalent period in the previous year. The targeted expansion of personnel reflects the LLB’s growth ambitions in the new business locations in Germany and Switzerland.
The segment registered a positive net new money inflow of CHF 423 million. The substantial inflows achieved by the private banking units in Germany, Liechtenstein and Switzerland made a particular contribution to this result. Lending business was down by CHF 228 million. The first half of 2025 was used to implement specific measures to enhance the rentability of the lending book. Low-margin loans were reduced thereby increasing profitability – not due to risk considerations, but rather to strengthen earning power.
In total, the business volume expanded by 1.0 per cent to CHF 37.9 billion.
Segment reporting
in CHF thousands | First half 2025 | First half 2024 | +/- % |
Net interest income | 87’873 | 95’867 | – 8.3 |
Expected credit losses | 3’913 | 11’019 | – 64.5 |
Net interest income after expected credit losses | 91’786 | 106’886 | – 14.1 |
Net fee and commission income | 50’437 | 47’749 | 5.6 |
Net trading income | 12’233 | 9’270 | 32.0 |
Other income | 1’132 | 2’298 | – 50.8 |
Total operating income | 155’588 | 166’204 | – 6.4 |
Personnel expenses | – 30’629 | – 26’340 | 16.3 |
General and administrative expenses | – 2’849 | – 2’960 | – 3.7 |
Depreciation | – 33 | – 27 | 23.9 |
Services (from) / to segments | – 42’031 | – 41’183 | 2.1 |
Total operating expenses | – 75’542 | – 70’509 | 7.1 |
Segment profit before tax | 80’046 | 95’694 | – 16.4 |
Performance figures
First half 2025 | First half 2024 | |
Gross margin (in basis points) 1 | 79.9 | 88.3 |
Cost Income Ratio (in per cent) 1 | 49.8 | 45.4 |
Net new money (in CHF millions) 1 | 423 | – 103 |
Growth of net new money (in per cent) 1 | 1.9 | – 0.5 |
1Definition available under llb.li/investors-apm
Additional information
30.06.2025 | 31.12.2024 | +/- % | |
Business volume (in CHF millions) 1 | 37’927 | 37’534 | 1.0 |
Assets under management (in CHF millions) 1 | 22’625 | 22’004 | 2.8 |
Loans (in CHF millions) | 15’302 | 15’530 | – 1.5 |
Employees (full-time equivalents, in positions) | 311 | 321 | – 3.4 |
1Definition available under llb.li/investors-apm