Advance information: LLB Group expects 2017 net profit to be at the level of the previous year

Vaduz, 15 December 2017. The LLB Group expects a net profit for the 2017 fiscal year that is likely to be at the level of the previous year.

If market conditions stay the same until the end of the year, the LLB Group's net profit for the 2017 fiscal year is likely to be at the level of the previous year (CHF 103.9 million).

This takes account of the deposit of a sum of money at the High Court of Justice in London in connection with a lawsuit involving LLB Verwaltung (Switzerland) Ltd. At the beginning of October 2017, the High Court of Justice in London (being the trial court) found that there were wrongdoings by a former employee and that LLB Verwaltung (Switzerland) Ltd is also liable for the wrongdoings and loss caused by the former employee. LLB Verwaltung (Switzerland) Ltd is not liable as a consequence of its own wrongdoings. The judgement is not yet legally binding. An appeal of the judgement is being considered. On the basis of the judgement in the trial and the non-suspensive effect of any appeal, LLB Verwaltung (Switzerland) Ltd deposited an amount of CHF 15.1 million with the court to cover damages, interest, and lawyers' fees of third parties. Under the IFRS accounting rules, these costs must be reported as general and administrative expenses. LLB Verwaltung (Switzerland) Ltd expects that the damage amount will be covered by insurance.

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, Germany, Dubai and Abu Dhabi. 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.