Private Banking Segment

Private Banking

The Private Banking Division of the LLB Group combines advisory quality and investment competence with modern technology. The focus lies on the onshore markets of Liechtenstein, Switzerland and Austria, our traditional cross-border markets in Germany and Western Europe, as well as the growth markets in Central and Eastern Europe and the Middle East. In addition, the Private Banking Division is responsible for groupwide product management.

The Private Banking Division offers international clients investment advice, wealth management, asset structuring, financing facilities, as well as financial and retirement planning. These services are provided at its three banks in Liechtenstein (Vaduz), Switzerland (Uznach) and Austria (Vienna), as well as at representative offices in Zurich-Erlenbach, Geneva, Vienna, Abu Dhabi and Dubai, and at the bank branches of the LLB Group in Eastern Switzerland and Liechtenstein.

Business segment result

In interest business the Private Banking segment benefitted from rising USD interest rates. Fee and commission business also showed a pleasing development thanks to our distribution efforts and innovative investment solutions. The strategic expansion of human resources in client advisory services was reflected in operating expenses.

The Private Banking segment posted net new money inflows of CHF 473 million. Both client assets under management and loans to clients increased resulting in an expansion of business volume of 2.8 percent to CHF 16.4 billion.

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Segment reporting

in CHF thousands

 

First half 2018

 

First half 2017

 

+/− %

Net interest income

 

16'698

 

12'031

 

38.8

Credit loss (expense) / recovery

 

–110

 

0

 

 

Net interest income after credit loss expense

 

16'588

 

12'031

 

37.9

Net fee and commission income

 

36'296

 

35'131

 

3.3

Net trading income

 

4'396

 

4'537

 

–3.1

Other income

 

2

 

0

 

 

Total operating income

 

57'281

 

51'699

 

10.8

Personnel expenses

 

–16'467

 

–15'885

 

3.7

General and administrative expenses

 

–1'563

 

–1'143

 

36.7

Depreciation and amortisation

 

0

 

0

 

 

Services (from) / to segments

 

–14'578

 

–13'768

 

5.9

Total operating expenses

 

–32'608

 

–30'795

 

5.9

Segment profit before tax

 

24'673

 

20'904

 

18.0

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Performance figures

 

 

First half 2018

 

First half 2017

*

Operating expenses (excluding provisions for legal and litigation risks) in relation to operating income (excluding credit loss expense).

**

Operating income (excluding credit loss expense) relative to average monthly business volumes.

Net new money (in CHF millions)

 

473

 

130

Growth of net new money (in percent)

 

3.3

 

1.0

Cost-Income-Ratio (in percent) *

 

56.8

 

59.6

Gross margin (in percent) **

 

71.5

 

69.1

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Additional information

 

 

30.06.2018

 

31.12.2017

 

+/− %

Business volumes (in CHF millions)

 

16'448

 

16'007

 

2.8

Assets under management (in CHF millions)

 

14'685

 

14'316

 

2.6

Loans (in CHF millions)

 

1'763

 

1'691

 

4.3

Employees (full time equivalent, in positions)

 

162

 

161

 

0.2