Financial Results
LLB Group Raises SFr200 Million In Capital, Positions For Growth
The Liechtenstein-headquartered private banking group said the debt issuance will strengthen its financing and refinance growth.
LLB Group, aka
Liechtensteinische
Landesbank, yesterday said it has issued SFr200 million
($233.6 million) in debt as part of a capital-raising to
underpin future growth.
The 10-year bond, with a yield on maturity of 1.552 per cent,
drew “great demand among investors,” the Vaduz-headquartered
group said in a statement yesterday.
“The bond enables the LLB Group to further strengthen its solid
financing structure and refinance growth,” group chief financial
officer Christoph Reich, said.
LLB has a Tier 1 ratio of 19.7 per cent, with SFr2.3 billion of
equity capital. Moody’s, the rating agency, confirmed the bank’s
deposit rating at Aa2.
The bond is listed for trading on the secondary market from 29
October.
As reported on 28 August this year, LLB said its first-half 2024
net profits were up again by 1.7 per cent on a year before,
reaching SFr90.2 million. The group’s business volume also
attained the SFr110-billion mark for the first time in the
company’s history.
In July, LLB agreed to
buy all shares of Zürcher Kantonalbank Österreich AG, a
bank with locations in Salzburg and Vienna.
The banking group, which operates in Liechtenstein,
Switzerland, Austria, Germany and the United Arab Emirates,
rebranded in September 2023.
