The LLB Group stands for safety and stability
Vaduz, 20 March 2023. For more than 160 years now, Liechtensteinische Landesbank AG (LLB) has stood for safety and stability with an excellent credit rating. The LLB Group, has already proven its ability to manage risks in the past and to be resilient and resistant to crises even in the face of the international interconnections of the financial market and difficult economic circumstances.
With regard to the current developments concerning the takeover of Crédit Suisse by UBS, the LLB Group shares the evaluation of the Liechtenstein Bankers Association: "In view of the uncertainties that have come to a head in recent days, the takeover of Crédit Suisse by UBS appears to have been the only viable and reasonable solution. The solution that has been found now definitively creates clarity in the market and serves to safeguard financial stability in Switzerland, but also worldwide. This is equally important for our country and our institutions due to the interconnectedness of the international financial markets, but also due to Liechtenstein's close ties with the Swiss economy. The takeover will certainly not have a negative impact on the stability of Liechtenstein banks. It is now to be hoped that the agreed takeover will also calm the situation on the financial markets again."
The LLB evaluates its business activities with CS on an ongoing basis. To date, the LLB has not experienced any operational problems in transactions with CS.
The LLB Group has a broadly diversified market infrastructure in which CS does not act as a correspondence bank. LLB's Asset Management does not have any significant CS holdings in asset management directly or in LLB funds. Therefore, it should be possible to conclude all transactions with CS as planned.
LLB: Best Group result in 10 years
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Brief portrait
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.
Important dates
- 24 August 2023, presentation of the 2023 interim business result
Contact
Liechtensteinische Landesbank AG
Dr. Cyrill Sele
Head of Group Corporate Communications & Sustainability
Telephone +423 236 80 99
Internet www.llb.li
