Financial Results
Liechtensteinische Landesbank Logs Profit Rise For H1
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Falling markets dented AuM, but the bank was also able to post stronger earnings data for the first half of 2022.
Liechtensteinische
Landesbank yesterday announced that it had logged a 6.8 per
cent year-on-year rise in net profit for the first six months of
2022, at SFr75.9 million ($78.4 million).
The bank, which operates in several jurisdictions, said LLB’s
cost/income ratio narrowed to 62.8 per cent, a fall of 2.3
points.
The European firm logged SFr2.5 billion of net new money in
H1 2022, translating into an annual growth rate of 5.5 per
cent.
LLB’s Tier 1 ratio amounted to 18.4 per cent, it said in a
statement.
Loans to clients rose by SFr400 million in the first half year,
ahead of SFr300 million a year before. Both Bank Linth in eastern
Switzerland and LLB in Liechtenstein contributed to the loans
growth.
Client assets under management fell by 8.4 per cent to SFr 84.2
billion from SFr91.9 billion at the end of December last year.
Inflows helped to offset some of the impact of falling markets
this year, LLB said.
