Financial Results
Rebranded LLB Group Notches Up Higher Profits, Inflows
The business, which has wrought a series of changes, including a new brand, has also grown by acquisition.
LLB Group, the
Liechtenstein-headquartered private bank that recently went
through a brand
makeover, yesterday announced that its group net profit for
2023 rose 10.2 per cent year-on-year to SFr164.7 million ($187.3
million).
Operating income rose 7.7 per cent to SFr541.8 million; operating
expenses rose 6.1 per cent to SFr348.4 million.
Net new money inflow at the Vaduz-based group rose to SFr954
million from SFr762 million in 2022, LLB Group said in a
statement.
Return on equity rose to 7.9 per cent from 7.2 per cent; earnings
per share rose to SFr5.37 from SFr4.82 per share.
The lender’s cost-income ratio ticked up to 64.3 per cent in 2023
from 64 per cent, it said.
LLB said that at its general meeting of shareholders, to be held
on 19 April, it will propose to hike the dividend to SFr2.7 per
share from SFr2.5, taking the dividend yield to 4.1 per cent.
The firm opened three new business locations in Germany in
January this year – in Munich, Frankfurt, and Dusseldorf. In the
first half of 2024, the firm said that it will add two new
locations in Switzerland – in Zurich and St Gallen. In
2022, LLB Group completed its acquisition of Bank Linth, which
was brought into the group under its new identity.
