LLB Group sees asset growth despite flat profit in 2025  

The rise in operating income was largely due to the acquisition and integration of the former ZKB Österreich.  

Liechtensteinische Landesbank (LLB) Group’s 2025 net profit held steady at SFr166.5m ($214.9m) , with acquisition activity driving an increase in its assets. 

In 2024, the company had reported a net profit SFr167.2m.  

Operating income reached SFr611.6m, marking an 8.1% growth from SFr565.8m in 2024. 

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The group’s increase in income was largely due to the acquisition and integration of the former ZKB Österreich.  

In 2025, LLB closed the acquisition of Zürcher Kantonalbank Österreich.  

Net fee and commission income went up by SFr45.2m, supported by higher client activity and increased volumes. 

Business volume exceeded SFr125bn for the first time, driven by both organic development and the addition of ZKB Österreich, along with favourable market conditions.  

Assets under management increased by about 12.2%, or SFr11.9bn, over the year.  

The ZKB Österreich acquisition contributed SFr3.2bn to this growth. 

Net new money inflows reached SFr3.7bn, up 3.8%, with inflows recorded across all booking centres and market divisions. 

LLB chairman of the Board Georg Wohlwend said: “In 2025, the consistent implementation of our ACT-26 strategy showed positive results and sustainably strengthened the LLB Group’s position. The fact that we again achieved a solid business result in a continuing challenging environment testifies to the resilience of our business model.” 

The group said it took a selective approach to new lending in the first half of the year but expanded its loan book in the latter half.  

For the full year, net new loans amounted to SFr540m, a rise of 3.3%. 

Operating expenses rose to SFr410.4m from SFr369.5m in the previous year, a change attributed mainly to one-time integration costs of around SFr10m from the ZKB Österreich acquisition. 

Group headcount increased slightly by eight full-time equivalent positions despite adding around 100 employees from ZKB Österreich as part of the integration process. 

LLB Group CEO Christoph Reich said: “In 2025, we determinedly implemented our strategy and thereby attained key milestones. In this year we shall successfully complete ACT-26 as planned and on time.  

“Thanks to our strong position in our four core markets, we are well prepared to continue our profitable growth. Furthermore, we have already proven in previous years that we can still be successful even in a challenging environment. We therefore expect to achieve a solid business result for the 2026 business year.” 

Last year, LLB formalised an arrangement with Rothschild & Co for the referral of its private banking clients in Dubai and Abu Dhabi, UAE. 

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