LLB (Österreich) AG achieves record profit
Vienna, 25 June 2018. The Liechtensteinische Landesbank (Österreich) AG continued its successful growth path in 2017, achieving a gratifying annual profit.
LLB Österreich closed its fiscal year very successfully, posting a record annual net profit of EUR 3.9 million. This was a 100% increase over the previous year. Thanks to gratifying growth figures and good performance, business volume also increased again, reaching an all-time high of EUR 2.55 billion at the end of 2017.
Robert Löw, Chairman of the Board of Management of LLB Österreich, drew attention to several positive developments: "Under challenging market conditions, our bank developed extremely well in 2017 and also had a successful start to the new year. It is of particular note that we not only achieved growth in the year under review, but also increased our profitability and clearly exceeded our targets for the year."
As part of the LLB Group's StepUp2020 strategy, we are continuing to expand business activities in our home market of Austria. The parent company of LLB Österreich, the Liechtensteinische Landesbank AG (LLB), is facing a historic step with its subsidiary. As announced in December 2017, the parent company is set to acquire 100% of Semper Constantia Privatbank AG, headquartered in Vienna, next month. A merger of Semper Constantia with LLB Österreich is then planned, resulting in the Liechtensteinische Landesbank (Österreich) AG.
Brief portraits LLB / LLB Österreich
The Liechtensteinische Landesbank AG (LLB) is the longest established financial institute in the Principality of Liechtenstein. The Principality of Liechtenstein holds the majority of the company's share capital. The LLB's shares are listed on the SIX (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 1'092 employees (full-time equivalent positions), the LLB Group is represented in Liechtenstein, Switzerland, Austria, and the United Arab Emirates (Abu Dhabi and Dubai). As per 30 June 2019, the LLB Group managed a business volume of CHF 85.6 billion.
With assets under management of over EUR 22 billion and over 230 employees (as at 30 June 2019),Liechtensteinische Landesbank (Österreich) AG is Austria's leading asset management bank. The independent, fully licenced Austrian bank also is active in countries across of Central and Eastern Europe, as well as in Italy and Germany. As a wholly-owned subsidiary of Liechten-steinische Landesbank AG (LLB), Vaduz, LLB (Österreich) AG is able to take advantage of the stability and exemplary credit rating of its owner, and to build on more than 150 years of experience at the longest-established financial institution in the Principality of Liechtenstein. Alongside Liechtenstein and Switzerland, Austria has been one of the LLB Group's three declared home markets since 2009.
LLB Group dates for your diary
- 3 May 2019, 27th Ordinary General Meeting of Shareholders
- 27 August 2019, 2019 Interim Financial Statements
- 12 March 2020, Presentation of the 2019 Annual Result
Mag. Lukas Kirchbaumer
Telephone +43 1 533 73 83-73
Liechtensteinische Landesbank (Österreich) AG
Head Marketing & Communications
Telephone +43 1 536 16-222