LLB said the deal represents an important extension of its business footprint.

LLB Group, as Liechtensteinische Landesbank is now known after its 2023 rebrand, has concluded its purchase of all shares of Zürcher Kantonalbank Österreich AG, a bank with locations in Salzburg and Vienna. 

As announced in July 2024, the transaction will boost LLB’s business volume by around SFr3 billion ($3.29 billion).  

The authorities had previously granted regulatory and anti-trust approvals, LLB said.

Subject to the approval of the Austrian Financial Market Authority, the new group company is to be merged with Liechtensteinische Landesbank (Österreich) AG in mid-year; it is expected to operate under the name LLB Bank AG until the time of the merger.

Once the merger is completed, the board of management will be composed as follows:

Robert Löw, CEO of LLB Austria, will remain as chairman; deputy CEO Harald Friedrich and chief financial officer Gerd Scheider will also remain on the management board of LLB Austria. Christian Nemeth, chairman of the board of management of ZKB Austria, who will become the fourth member, will be responsible for the newly-created asset management division.

The other two members of the board of management of ZKB Austria will remain affiliated with the company after the planned merger: Silvia Richter will be in charge of the existing private banking team in Vienna. Michael Walterspiel will carry out the role of integration manager, helping to ensure smooth integration by the beginning of 2026.

LLB Group operates in Liechtenstein, Switzerland, Austria, Germany and the United Arab Emirates. On 8 October 2024 it said it had issued SFr200 million in debt as part of a capital-raising to underpin growth. As reported on 28 August 2024, LLB said its first-half 2024 net profits rose by 1.7 per cent on a year before, reaching SFr90.2 million. 


LLB's main Liechtenstein office