“We have succeeded in increasing our profit for the fourth time in succession,” commented Georg Wohlwend, chairman of the Board of Directors. “Our focussed business model and the systematic implementation of our strategy are having a sustained impact."
Operating income increased by 7.5 per cent above 2016 to 399.4 million francs, while operating expenses were up by 3.4 per cent to 267 million in the same period. Business volume reached 62.3 billion francs.
While another success was registered in net fee and commission income, which rose by 6.2 per cent to 154.8 million francs, net interest income fell by 4.3 per cent to 132.1 million. Net trading income on the other hand increased to 83 million francs, compared to 55.9 million in 2016.
Client assets grew by 8.2 per cent to 50.3 billion francs. At 470 million francs, “net new money inflows were at their highest level since 2011”, according to the statement. The bank added that “the turnaround has been accomplished”.
The LLB Group is confident that it will generate a solid net profit in 2018, concluded the statement.