LLB saw an outflow of client funds for four years, but the bank has now once again recorded an inflow of new money.
“The net new inflows come from the home markets of Liechtenstein, Switzerland and Austria. The fund business in particular has also grown,” said CEO Roland Matt in an interview with the newspaper Finanz und Wirtschaft (Finance and Economy).
Overall, the bank finished the first half of the year with a surplus income of 35 million Swiss francs, and it is now able to focus on continued growth, with plans to increase the business volume from 60 billion francs to 70 billion francs by 2020.
“We understand business volume to be assets under management as well as loans,” explained Matt. Both areas are growing at an above-average rate, however acquisitions will also be necessary to achieve the 2020 target.
The bank and its growth plans can also benefit from Liechtenstein itself.
“The location advantages of Liechtenstein are clear,” emphasized Matt. “As a member of the EEA, Liechtenstein can offer the European fund distribution market free access to UCITS – traditional funds – and since autumn 2016 to AIF, or alternative investment funds.”
The bank would also like to get involved in digitalization. “We are focusing on a hybrid model of physical proximity to customers and digital solutions,” explained Matt.
In the future, the plan is to have some branches without traditional counters. In general, the modern branch will be “less a place to do transactions and more of a place to meet”.