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 rose by 6.8 per cent to CHF 85.5 million. Interest differential business, which comprises the largest proportion of earnings in the Retail & Corporate Banking Division, stood at CHF 87.7 million, practically the same level as in the previous year (first half of 2025: CHF 87.9 million).
After expected credit losses, interest income fell to CHF 83.0 million, 9.5 per cent lower than the previous year’s value (first half of 2025: CHF 91.8 million). Whereas in the previous year a net release of CHF 3.9 million for risk provisions for credit losses was recognised, in the first half of 2026, expected credit losses reduced the segment result by CHF 4.7 million. Fee and commission income developed very successfully, rising by 19.8 per cent to CHF 60.4 million thanks to higher average volumes of client assets under management (first half of 2025: CHF 50.4 million). Trading income also climbed by 7.4 per cent to CHF 13.1 million due to intensified client trading activity (first half of 2025: CHF 12.2 million). In total, operating income increased by 1.2 per cent to CHF 157.4 million (first half of 2025: CHF 155.6 million). At 79 basis points, the gross margin was virtually at the same level as in the previous year (first half of 2025: 80 basis points).
Operating expenses were down by 4.8 per cent to CHF 71.9 million (first half of 2025: CHF 75.5 million). This was primarily attributable to lower personnel costs as a result of a lower average headcount in comparison with the equivalent period in the previous year. Accordingly, the Cost Income Ratio improved substantially to 44.4 per cent (first half of 2025: 49.8 %).
The segment registered a positive net new money inflow of CHF 830 million, corresponding to a growth rate of 3.4 per cent. The growth was broadly based and driven by contributions from all business areas. The expansion in new money inflow was particularly pleasing from clients in Germany. Loans to customers rose by CHF 233 million or 1.5 per cent to CHF 16.1 billion. Client assets under management also developed positively, climbing by 5.2 per cent to CHF 25.5 billion. In total, the business volume expanded by 3.7 per cent to CHF 41.6 billion.
Segment reporting
in CHF thousands | First half 2026 | First half 2025 | +/- % |
Net interest income | 87’728 | 87’873 | – 0.2 |
Expected credit losses | – 4’700 | 3’913 | |
Net interest income after expected credit losses | 83’028 | 91’786 | – 9.5 |
Net fee and commission income | 60’419 | 50’437 | 19.8 |
Net trading income | 13’142 | 12’233 | 7.4 |
Other income | 826 | 1’132 | – 27.0 |
Total operating income | 157’414 | 155’588 | 1.2 |
Personnel expenses | – 28’635 | – 30’629 | – 6.5 |
General and administrative expenses | – 3’157 | – 2’849 | 10.8 |
Depreciation | – 35 | – 33 | 6.8 |
Services (from) / to segments | – 40’100 | – 42’031 | – 4.6 |
Total operating expenses | – 71’927 | – 75’542 | – 4.8 |
Segment profit before tax | 85’487 | 80’046 | 6.8 |
Performance figures
First half 2026 | First half 2025 | |
Gross margin (in basis points) 1 | 79.4 | 79.9 |
Cost Income Ratio (in per cent) 1 | 44.4 | 49.8 |
Net new money (in CHF millions) 1 | 830 | 423 |
Growth of net new money (in per cent) 1 | 3.4 | 1.9 |
1Definition available under llb.li/investors-apm
Additional information
30.06.2026 | 31.12.2025 | +/- % | |
Business volume (in CHF millions) 1 | 41’592 | 40’092 | 3.7 |
Assets under management (in CHF millions) 1 | 25’526 | 24’258 | 5.2 |
Loans (in CHF millions) | 16’066 | 15’833 | 1.5 |
Employees (full-time equivalents, in positions) | 299 | 289 | 3.2 |
1Definition available under llb.li/investors-apm