Judgement in litigation against LLB Verwaltung (Switzerland) Ltd

Vaduz, 6 October 2017.

LLB Verwaltung (Switzerland) Ltd, formerly Liechtensteinische Landesbank (Switzerland) Ltd (the "Former Bank"), is a subsidiary of Liechtensteinische Landesbank AG. As previously published, the Former Bank was sued in England at the beginning of 2015 as a consequence of facts which took place in 2011. The High Court of Justice in London (being the trial court) found that there were wrongdoings by a former employee of the Former Bank and that the Former Bank is also liable for the wrongdoings and loss caused by the former employee in the amount of approx. EUR 10 million plus interest and costs yet to be determined. The Former Bank is not liable as a consequence of own wrongdoings. LLB Verwaltung (Switzerland) Ltd expects that the damage amount will be covered by insurance. The judgement is not yet legally binding. An appeal of the judgement is being considered.

Brief portrait

Liechtensteinische Landesbank AG (LLB) is the longest established financial institute in the Principality of Liechtenstein. The majority of the company’s share capital is held by the Principality of Liechtenstein. 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 1'523 employees, LLB is represented in Liechtenstein, Switzerland, Austria and Germany. As per 31 December 2025, the business volume of the LLB Group stood at CHF 125.9 billion.

Liechtensteinische Landesbank (Österreich) AG is one of the leading asset management banks in Austria with over EUR 32 billion in assets under management (as of 31 December 2023) and more than 230 employees. As a wholly-owned subsidiary of Liechtensteinische Landesbank AG (LLB), Vaduz, LLB (Österreich) AG also benefits from the stability and excellent credit rating of its owner and can draw on the more than 160 years of experience of the longest-established financial institution in the Principality of Liechtenstein. Austria has been one of the LLB Group’s three declared home markets since 2009, in addition to Liechtenstein and Switzerland.