LLB Group publishes 2022 annual report
Vaduz, 23 March 2023. The LLB Group has published its complete 2022 annual report with integrated sustainability report and has dispatched the voting documents for the 31st General Meeting of Shareholders. It will announce an update regarding the strategy for the Swiss market at the beginning of May 2023.
The 2022 annual report of the LLB Group contains an overview of the business position, the segment reporting, the financial report, the compensation report and information on corporate governance. In addition, the sustainability report is prepared in accordance with the established standards of the Global Reporting Initiative (GRI).
The title of the annual report – "One more perspective" – is derived from the dual positioning of the LLB Group, as formulated in the ACT-26 corporate strategy. As a universal bank, the LLB Group is the leader in Liechtenstein and the adjoining region. At the same time, it is a secure, sustainable, international private bank. The core elements of ACT-26 are: growth, efficiency and sustainability.
A video clip of one of the works of the Japanese mathematician and artist, Kokichi Sugihara, shows what happens when perspectives are changed. He has explored forms, which appear completely different when they are viewed from other viewpoints, like making cylindrical forms appear rectangular and vice versa. With this pictorial comparison we want to visualise the various facets of the LLB Group’s duality.
For sustainability reasons, the LLB Group has restricted its annual business reporting to an interactive, online presentation in the internet. The 2022 annual report is available in German at gb2022.llb.li and in English at ar2022.llb.li.
At the same time, LLB has dispatched the invitations and voting documents for the 31st ordinary General Meeting of Shareholders, which will take place on 5 May 2023, at the tennis hall in Schaan. The documents are also available on the LLB website at www.llb.li/generalmeeting.
The LLB Group stands for safety and stability
Liechtensteinische Landesbank with its 160-year history reflects stability and security for clients. Many times in the past it has clearly demonstrated its ability to manage risks and, in spite of the international interdependence of the financial markets and challenging economic conditions, to be crisis-resistant and resilient. Thanks to its sound equity base amounting to CHF 2.0 billion, made up exclusively of hard core capital, the LLB Group enjoys the highest financial standing. With its Aa2 deposits rating from Moody's, LLB is positioned well above the average of European financial institutions and is therefore in the top league of the safest banks worldwide. The outlook for the rating is stable.
The LLB Group is well positioned in its three domestic markets of Liechtenstein, Switzerland and Austria. It has in place a diversified earnings structure and a well-balanced business model. Its ACT-26 corporate strategy enables it to plan sustainably and for the long term. The LLB Group sees further growth potential in the Swiss market. In this connection, the LLB Group will announce an update regarding the strategy for the Swiss market at the beginning of May 2023.
Liechtensteinische Landesbank AG (LLB) is the longest established financial institute in the Principality of Liechtenstein. The majority of the company’s share capital is held by the Principality of Liechtenstein. LLB’s shares are listed on the SIX Swiss Exchange (symbol: LLBN). The LLB Group offers its clients comprehensive wealth management services, as a universal bank, in private banking, asset management and fund services. With 1'116 employees (full-time equivalent positions), LLB is represented in Liechtenstein, Switzerland, Austria and the United Arab Emirates (Abu Dhabi and Dubai). As per 31 December 2022, the business volume of the LLB Group stood at CHF 98.4 billion.
- 24 August 2023, presentation of the 2023 interim business result
Liechtensteinische Landesbank AG
Dr. Cyrill Sele
Head of Group Corporate Communications & Sustainability
Telephone +423 236 80 99