Performance mandate and sustainability

Awareness of the need to act responsibly is deeply rooted in the LLB Group. We recognise our social responsibility towards employees, business partners, our clients and society, and are committed to protecting the environment.

The Principality of Liechtenstein is the majority shareholder in LLB with 57.5 per cent of the share capital. Sustainable business management is part of the performance mandate and the principles governing the corporate strategy of Liechtensteinische Landesbank. LLB carries out this mandate first and foremost by offering a broad portfolio of products and services. At the same time, social commitment has always been a significant part of our corporate identity. Our activities are in line with our statutory mandate: according to Article 3 of the Law on the Liechtensteinische Landesbank (LLBG) of 21 October 1992 and under the investment strategy of the Government of the Principality of Liechtenstein of 22 November 2011, LLB is mandated with the social responsibility of promoting Liechtenstein’s economic development while at the same time still taking ethical and ecological factors into account.

In dialogue with stakeholder groups

For the LLB Group, sustainability as a corporate responsibility means meeting the expectations of the different internal and external stakeholder groups. The Group Corporate Communications & General Secretary Business Area works – together with the line and support units on an ongoing basis – to further develop the key sustainability topics.

We are in regular dialogue – personally, by electronic media, or at information meetings, working sessions, roadshows or conferences – with the different stakeholders who affect the course of our business and over whom we have influence (see chapters “Brand and communication” and “Employees”).

The stakeholder groups are in particular:

  • Clients
  • Principality of Liechtenstein
  • Shareholders
  • The public
  • Partners and non-governmental organisations (NGOs)
  • Employees

Value-based action

The values of “integrity”, “respectfulness”, “excellence” and “pioneering” (see chapter “Strategy and organisation”) underpin the LLB Group’s actions. Our internal Code of Conduct provides a guiding framework for the value-based and responsible actions of all employees (see chapter “Employees”). We are client-oriented and, as such, are investing in the further development of the physical and electronic contact points (see chapters “Retail & Corporate Banking” and “Corporate Center”). Here we are paying particular attention to meeting our clients’ security needs and our data protection standards for the use of the various distribution channels at all times.

Materiality matrix for sustainability topics
Materiality matrix for sustainability topics (graphic)

Risk management

Effective risk management, that means permanent and systematic monitoring to minimise risk, contributes decisively to responsible and transparent corporate governance (see chapter “Finance and risk management”). By specifying a future-oriented risk strategy, the Board of Directors establishes the guidelines for dealing with risks. In addition, it continues to develop corporate governance on an ongoing basis (see chapter “Corporate governance”).

The applicable laws, directives, guidelines and market standards as well as supervisory and internal regulations form an essential base. Group Legal & Compliance advises the business areas, identifies and analyses compliance risks, and ensures that all staff comply with the rules of conduct (see chapter “Finance and risk management”).

Contribution to the sustainable development of Liechtenstein

The LLB Group is involved in different cultural, environmental and social areas (see section “Sponsoring”) and thus in the sustainable development of a prosperous Liechtenstein. This forms the basis for the fulfilment of our performance mandate. Our core task is to promote Liechtenstein as a workplace. In doing so, we contribute to the prosperity of people (see chapter “Retail & Corporate Banking”).

This page contains, inter alia, the following GRI disclosures (2016 version): 102-47. A list of all disclosures shown in the report can be found in the GRI Content Index / Management approaches.