LLB Österreich increased its business volume to a record high of more than EUR 25 billion (+28 %) in 2019 taking a strong position in the current market environment
Vienna, 15 July 2020. Liechtensteinische Landesbank (Österreich) AG (LLB Österreich) looks back at an outstanding financial year 2019. At EUR 25.3 billion, the bank, which had been created in 2018 by former LLB Österreich merging with Semper Constantia Privatbank AG, recorded a record business volume (client assets and loans) in its first full post-merger financial year, 2019. This equals an increase of +27.6 % compared to the previous year. The operating income and the operating profit also grew by about 7 % each to EUR 67.3 million and EUR 15.2 million, respectively. Finally, the net income for the year 2019 amounted to EUR 12 million.
- Clear commitment to growth after merger with Semper Constantia Privatbank AG results in LLB becoming the leading wealth management bank in Austria
- Current focus on efficient risk management: highly competent client advisors as a success factor in challenging times
Merger between LLB Österreich and Semper Constantia: A success story
“Liechtensteinische Landesbank is making very good progress in Austria, and we are highly satisfied with these results which underpin our strategy’s success: With the merger between LLB Österreich and Semper Constantia, the services of our Austrian subsidiary have become even more attractive. The broad product range with the core areas wealth management and advisory services, custodian bank and white label funds as well as real estate proves to be a substantial advantage in particular in times of volatility”, says Dr. Gabriel Brenna, Chairman of the Board of Directors of Liechtensteinische Landesbank (Österreich) AG. “After reaching the record result in 2019, the key now is to use the positive dynamic and to secure our clients’ invested assets in a sustainable manner. In turbulent times like these, we stand for stability and security”, adds Dr. Robert Löw, Chairman of the Board of Management of LLB Österreich. In the first half of 2020, the credit standing of the parent company Liechtensteinische Landesbank AG, Vaduz, which received an Aa2 deposit rating by Moody’s, and the investment competence of LLB Group, has been honoured with multiple awards, proved to be key strengths.
Besides offering wealth management and fund products, LLB Österreich has experience in real estate investment which is unique in Austria. In particular in the current market environment, the clients of LLB Österreich benefit from the real estate funds focusing on stability. Furthermore, last year the bank’s real estate subsidiary once again positioned itself as the market leader in the category investment properties by successfully placing 230 units.
This success provides a solid basis for 2020: LLB Österreich aims to continue on its growth path and further increase its market share despite challenging conditions.
Highly competent advisors as a key success factor
The unique quality of its advisory services is the key success factor of the bank with a long-standing tradition. “In a manner of speaking, our advisors are our most important asset, as it is only their far-sighted and risk-efficient actions that enable us to secure our clients’ assets in a sustainable manner. For that reason, we have significantly added to our competences in the past years and taken a number of new experts on board”, says Dr. Robert Löw. “The expectations towards bank advisors are gaining in complexity nowadays. In addition to an appropriate personality profile, top-class expertise and continuing professional development are required. Thus, we take our educational role very seriously and support our employees in meeting the high standard of Austria’s leading wealth management bank”, Löw explains. LLB’s employees benefit from numerous training and professional education opportunities, funded additional certificates such as CFP, CFA and the like.
Strengthening internal systems: successful migration to the LLB core banking system
Furthermore, the integration into the LLB Group continues. With the implementation of the new, advanced core banking system, an important milestone in the integration process was successfully completed at the turn of 2019/2020.
LLB (Österreich) AG: With assets under management of more than EUR 25 billion and some 240 staff members, Liechtensteinische Landesbank (Österreich) AG is Austria’s leading wealth management bank and, in addition to offering classic wealth management and advisory services and being involved in the investment fund and custodian bank business, has long-standing experience with direct and indirect real estate investments. This independent full-service Austrian bank is also present in the CEE countries, in Italy and in Germany. As a fully owned subsidiary of Liechtensteinische Landesbank AG (LLB), Vaduz, LLB Österreich benefits from the stability and top-grade rating of its owner and can rely on nearly 160 years of experience of the bank with the richest tradition in the Principality of Liechtenstein. Since 2009, Austria has been one of LLB Group’s declared home markets, in addition to Liechtenstein and Switzerland.
LLB Group dates for your diary
- 7 May 2021, 29th ordinary General Meeting of Shareholders
Liechtensteinische Landesbank (Österreich) AG
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