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.
The Liechtensteinische Landesbank (Österreich) AG is an independent bank under Austrian law with a full banking license. It is active in Austria as well as Central and Eastern Europe in the areas of international private banking, family office services, and other banking services for wealthy private clients and institutional clients.
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 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 858 employees (full-time equivalent positions), the LLB is represented in Liechtenstein, Switzerland, Austria, and the United Arab Emirates (Abu Dhabi and Dubai). As per 31 December 2017 the LLB Group managed a business volume of CHF 62.3 billion.
- 14 March 2019, presentation of the annual results for 2018
- 3 May 2019, 27th Ordinary General Meeting of Shareholders
Mag. Lukas Kirchbaumer
Telephone +43 1 533 73 83-73
Dr. Cyrill Sele
Head of Group Corporate Communications & General Secretary
Telephone +423 236 80 99
Fax +423 236 87 71