With its StepUp2020 strategy, the LLB Group intends to embark on a new phase of corporate development and actively advance innovation while also defining its financial targets for 2020.
The Focus 2015 strategy has been successfully implemented, the LLB Group announced in a news release. With a Tier 1 ratio of 20 per cent, the LLB Group stands for security and stability and enjoys strategic room for manoeuvre. On this basis the LLB Group wants to make use of sustainably profitable growth opportunities, says Hans-Werner Gassner, chairman of the board of directors of the LLB Group. The financial targets for 2020 include an increase in business volume to more than CHF 70 billion, a cost/income ratio of less than 65 per cent and a cumulative net profit of more than CHF 500 million. The Tier 1 ratio should be more than 14 per cent.
The new strategy, StepUp2020, encompasses the four elements of growth, profitability, innovation and excellence. In terms of growth, the strategy calls for above average growth targets and includes recruiting up to 40 new client advisors. Profitability involves further strengthening the LLB Groups earning powers. As regards innovation, the LLB Group will invest around CHF 100 million by the end of 2020 into innovation and infrastructure projects as well as pioneering digital solutions. Finally, it will introduce a continuous improvement process on the basis of lean management to accomplish its excellence targets.
The Liechtensteinische Landesbank AG (LLB) describes itself as the longest established financial institute in the Principality of Liechtenstein, which also holds the majority of the companys share capital.