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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in CHF thousands |
First half 2018 |
First half 2017 |
+/− % |
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Net interest income |
16'698 |
12'031 |
38.8 |
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Credit loss (expense) / recovery |
–110 |
0 |
|
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Net interest income after credit loss expense |
16'588 |
12'031 |
37.9 |
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Net fee and commission income |
36'296 |
35'131 |
3.3 |
|||
Net trading income |
4'396 |
4'537 |
–3.1 |
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Other income |
2 |
0 |
|
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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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First half 2018 |
First half 2017 |
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Net new money (in CHF millions) |
473 |
130 |
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Growth of net new money (in percent) |
3.3 |
1.0 |
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Cost-Income-Ratio (in percent) * |
56.8 |
59.6 |
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Gross margin (in percent) ** |
71.5 |
69.1 |