Zurich (awp) – Liechtensteinische Landesbank (LLB) generated a net profit of 149.4 million Swiss francs last year, an increase of 8.4%. Shareholders will be offered a dividend of 2.50 Swiss francs per share, against a remuneration of 2.30 Swiss francs for 2021. Majority shareholder, the Principality of Liechtenstein will receive a total of 52.8 million.
Operating income gained 5.6% to 503.2 million. The related expenses increased to a lesser extent, by 4.9% to 328.2 million, notably as a result of investments in digital technology. The result is a cost/income ratio – measuring the cost of each franc earned – improved by some 180 basis points to 64.0%, details the report released on Monday.
However, the establishment has not been spared the vagaries of the markets. The inflow of new money was halved to 3.6 billion, after having doubled in 2021. Currency effects and financial underperformance reduced the assets under management by 8.7% to 83.9 billion. The volume of receivables granted to customers swelled by 4.6% to 14.4 billion.
Management wants to be confident in the establishment’s continued growth, notwithstanding an “exceptionally high” level of uncertainty.
The shareholders will be invited during the general meeting of May 5 to validate – in addition to their compensation for 2022 – the integration of Nicole Brunhart and Christian Wiesendanger on the board of directors, to fill the vacancy left by the departures of the vice -president Gabriela Nagel-Jungo and Urs Leinhäuse, reached by the limit of mandates.
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