Financial Results

Rebranded LLB Group Notches Up Higher Profits, Inflows

Editorial Staff 27 February 2024

Rebranded LLB Group Notches Up Higher Profits, Inflows

The business, which has wrought a series of changes, including a new brand, has also grown by acquisition.

LLB Group, the Liechtenstein-headquartered private bank that recently went through a brand makeover, yesterday announced that its group net profit for 2023 rose 10.2 per cent year-on-year to SFr164.7 million ($187.3 million). 

Operating income rose 7.7 per cent to SFr541.8 million; operating expenses rose 6.1 per cent to SFr348.4 million. 

Net new money inflow at the Vaduz-based group rose to SFr954 million from SFr762 million in 2022, LLB Group said in a statement. 

Return on equity rose to 7.9 per cent from 7.2 per cent; earnings per share rose to SFr5.37 from SFr4.82 per share.

The lender’s cost-income ratio ticked up to 64.3 per cent in 2023 from 64 per cent, it said.

LLB said that at its general meeting of shareholders, to be held on 19 April, it will propose to hike the dividend to SFr2.7 per share from SFr2.5, taking the dividend yield to 4.1 per cent.

The firm opened three new business locations in Germany in January this year – in Munich, Frankfurt, and Dusseldorf. In the first half of 2024, the firm said that it will add two new locations in Switzerland – in Zurich and St Gallen. In 2022, LLB Group completed its acquisition of Bank Linth, which was brought into the group under its new identity.

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