The LLB Group achieved a consolidated profit of 167.2 million Swiss francs in 2024. This is an increase of 1.5 percent compared to the previous year and therefore the best in 15 years. These are the figures presented on Friday. 

The bank generated net nnew assets of  2.8 billion francs, which is an increase of 3.2 percent. Customer loans rose to 16.5 billion francs, while net new loans amounted 1.1 billion francs, which is an increase of 7.4 percent.

Business Volume Exceeds 100 Billion Francs for the First Time

Thanks to the positive development in customer loans and net new money inflows, the business volume increased to 113.5 billion francs – a new record.

According to a press release issued on Friday, one of the reasons for this development was the positive trend on the financial market.

The volume of client assets also increased significantly, reaching 97.0 billion francs. Customer loans rose to 16.5 billion francs, meaning both client assets and client loans reached new record levels.

Interest Income Down

Operatin income increased by 4.4 percent to 565.8 million francs (2023: 541.8 million francs). 

Due to higher client assets and performance fees, the result in the service and commission business was 14.0 million francs higher than in the previous year (2023: 200.0 million francs). There were also positive effects from the reversal of specific valuation allowances..

The interest business was more difficult, with a decline of 4 million francs.

Costs Have Risen

The 6.1 percent rise in operating expenses (369.5 million francs) is notable. This increase is mainly due to a higher headcount, as the LLB Group created around 70 new positions in 2024, particularly in client advisory services and digitalization.

At 98.4 million francs, operating expenses were 1.5 percent lower than in the same period of the previous year. The cost-income ratio increased to 66.4 percent (2023: 64.3 percent).

«The LLB Group continues to grow. We have once again proven that we are successful even in an environment of increasing uncertainty,» says Georg Wohlwend, Chairman of the Board of Directors of the LLB Group.

Higher Dividend Proposed

Shareholders should also benefit from the success of the financial year. The Board of Directors is proposing a dividend increase from 2.70 to 2.80 francs. The dividend yield thererfore amounts to 4.0 percent. 

As the main shareholder, the Principality of Lichtenstein can expect a distribution of 48.5 million francs.

The Annual General Meeting will take place on April 16, 2025.