LLB Group (Vaduz), a leader in private banking, recently made headlines with its best earnings report in over ten years. This impressive achievement highlights the company’s sound strategies and efficient operations. Net profits reached a record high of CHF 164.7 million – that’s a 10.2% jump from the previous year!
However, it wasn’t all smooth sailing. The group did experience a 61.7% decline in net new money, a reminder of how unpredictable financial inflows can be. Despite this challenge, LLB Group thrived in other areas, expanding its private banking, corporate, and institutional client services.
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Growth in a Changing Market
Based in Vaduz, Liechtenstein, LLB Group continues to attract and retain clients. By the end of 2023, assets under management had grown by 3.6%, reaching an impressive CHF 86.9 billion. This growth shows just how much trust clients have in LLB, even amidst market uncertainties.
Good news continued with operating income increasing by 7.7%, climbing from CHF 503.2 million in 2022 to CHF 541.8 million in 2023. This success is partly due to LLB’s wise investments in digital transformation, which have also created around 100 new jobs. These positions will help the bank provide even better client experiences and more efficient operations – key for future success.
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Key Figures and Strategies
While LLB experienced some setbacks in the Austrian market, impacting fee and commission income, their careful risk management and smart market strategies have paved the way for sustainable growth.
Here’s a concise overview of LLB Group’s financial achievements and strategic milestones:
| Financial Metric | 2023 Figures | 2022 Figures | Percentage Change |
|---|---|---|---|
| Net Profit | CHF 164.7m | CHF 149.4m | +10.2% |
| Net New Money | CHF 1.3bn | CHF 3.6bn | -61.7% |
| Assets Under Management | CHF 86.9bn | CHF 83.8bn | +3.6% |
| Operating Income | CHF 541.8m | CHF 503.2m | +7.7% |
| Loans to Customers | CHF 15.3bn | CHF 14.4bn | +5.9% |
| Mortgage Loans | CHF 13.8bn | CHF 12.9bn | +7.2% |
| Cost-Income Ratio | 64.3% | 64% | Slight Increase |
| Stock Dividend | CHF 2.7 | CHF 2.5 | Increase |
Where LLB Is Headed
LLB’s focus on digital transformation and outstanding client service bodes well for the future. Despite some fluctuations, the company’s healthy growth and financial stability are clear. Their proposal to increase stock dividends from CHF 2.5 to CHF 2.7 is another strong sign of the company’s ongoing success and optimism.
Two interesting facts about LLB Group
- Founded over 160 years ago, LLB Group is one of the longest-standing financial institutions in Liechtenstein.
- The Group demonstrates a strong commitment to sustainability and responsible investing.
