The Liechtensteinische Landesbank (LLB) reported a 15.3% increase in first-half net profit to 105.0 million Swiss francs, supported by a 6.8% decline in operating expenses and growth in asset under management.
Revenue rose 0.9% to 315.5 million francs, with the service and commission business up 5.9% on higher volumes. Temporary boosts from elevated trading activity amid geopolitical tensions also contributed, while persistently low Swiss franc interest rates weighed on net interest income. The bank's cost-to-income ratio improved to 59.5% from 67.0% a year earlier, surpassing its 65% target.
Customer assets grew 5.6% to a record 115.0 billion francs, with total business volume up 5.0% to 132.1 billion francs. Net new money inflows surged to 2.23 billion francs from 1.39 billion francs in the prior-year period, translating to an annualized growth rate of 4.1%. Net new loans reached 211 million francs, reversing a 239 million franc outflow in the same period last year.
LLB maintained its full-year outlook, citing ongoing geopolitical and economic uncertainties, and confirmed its ACT-26 strategy is nearing completion. The bank plans to unveil its next strategic phase on September 22.
