Liechtensteinische Landesbank (Österreich) AG: Excellent 2022 annual result
Vienna, 30 May 2023: Despite the challenging market environment on the international stock exchanges Liechtensteinische Landesbank (Österreich) AG with assets under management of approx. EUR 30 billion demonstrated its position as a leading asset management bank on the Austrian market and achieved record results. The high influx of client assets shows the great trust our clients put in the bank.
Liechtensteinische Landesbank (Österreich) AG looks back on an extremely successful, albeit challenging 2022. As a consequence of Russia's invasion of Ukraine in February 2022 there were upheavals on the stock exchanges and commodities markets, followed by stark price increases. LLB Österreich’s financial year 2022 was hence very much shaped by those external factors. The renowned bank, whose diversified business model is based on the competences of asset management and consulting, custodian bank and investment fund, as well as real estate, nevertheless managed to achieve a very pleasing result. For the first time operating income was above EUR 100 million and outdid the previous year by 30 %. Profit on ordinary activities increased by 65 % to EUR 35 million; net profit for the year by 110% to EUR 25.4 million. Handling a business volume in the amount of EUR 30 million LLB Österreich once again proved its position as the country's largest and leading asset management bank and achieved its highest ever net profit for the year in 2022. "We are very satisfied with the result. Despite the prevailing marking environment we were still able to record strong new client business of over EUR 1 billion. In addition, we received several awards. For example, we were ranked "very good" for our private banking services by the German Fuchs | Richter testing body", says a very pleased Robert Löw, Chairman of the Board of Management of LLB Österreich. "The high rating and the security of the LLB Group added to the good overall picture".
The LLB Group has defined growth and efficiency as core elements of its strategy for the next five years, "ACT-26". LLB Österreich fulfilled them completely in 2022. Milestones were also set in terms of sustainability, another core topic of the LLB Group. For example, new impact funds were launched, which cause up to 75 % less CO2 than the benchmark. In the area of portfolio and asset management only investment strategies are offered in which no controversial industries or enterprises with negative sustainability ratings invest. "Investors look for individual advice, supplemented by efficient digital services, sustainable product solutions for every market phase and high security. We can offer that", says Robert Löw.
With assets under management of EUR 30 billion and more than 200 staff members, LLB (Österreich) AG is Austria’s leading asset management bank. As a fully owned subsidiary of Liechtensteinische Landesbank AG (LLB), Vaduz, LLB Österreich benefits from the stability and excellent rating of its owner and can build on 160 years of experience of the most venerable financial institution in the Principality of Liechtenstein. Since 2009 Austria is one of the declared home markets of LLB Group next to Liechtenstein, Switzerland an Germany.
Head of Marketing & Communications
Telephone +43 1 536 16-222
Liechtensteinische Landesbank AG
Dr. Cyrill Sele
Head of Group Corporate Communications & Sustainability
Telephone +423 236 82 09
Fax +423 236 87 71