The Liechtensteinische Landesbank (LLB) presented its new three‑year strategy, named "elevate," on Wednesday in Zurich. The plan follows the completion of the ACT‑26 strategy, which ran from 2021 to 2026 and met all its hard targets.
Group CEO Christoph Reich and Group CFO Markus Schifferle, both former executives of the bank, attended the presentation at LLB's Zurich office on Bahnhofstrasse. Reich, who became CEO in September 2025 after serving as CFO, handed the CFO role to Schifferle in November. The bank also announced that Natalie Flatz, head of International Wealth Management, will serve as deputy Group CEO.
ACT‑26 achieved a net cash‑flow and loan‑book growth of over 3% per year, a cost‑income ratio (CIR) below 65% for 2026, and a Tier‑1 capital ratio above 16%. The digital banking app "willbe," launched in 2022, was highlighted as a success.
Under "elevate," LLB keeps the same headline financial objectives: a 3% annual net cash inflow, a CIR of 65% by 2031, and a CET‑Tier‑1 ratio above 18%. The dividend policy remains unchanged, with roughly 50% of earnings paid out. Unlike the previous plan, the new strategy does not set a quantitative target for the loan portfolio, emphasizing profitable growth instead.
The strategy outlines growth across all four operating markets—Liechtenstein, Germany, Switzerland and Austria. In Austria, LLB completed the acquisition of Zürcher Kantonalbank's Austrian subsidiary, merging it with its own Austrian unit in August 2025, a move described by Reich as a "great acquisition." Conversely, the bank exited the Gulf region in September 2025, transferring those assets to Rothschild & Co Bank.
Key focus areas include expanding the direct‑customer platform (including the "willbe" app, especially in Germany), strengthening private‑banking positioning as an investment and pension bank, broadening the corporate‑client business beyond real estate, and deepening relationships with independent asset managers, family offices, trustees and institutional investors.
An analyst from ZKB noted that LLB chose not to tighten efficiency or growth targets, allowing more flexibility over the longer horizon, though some investors might have preferred more ambitious goals. LLB employs about 1,500 staff, with just over 10% based in Switzerland.
