LGT increased its total operating income by 6 percent in the first half of 2020. Group profit recorded double-digit growth on the previous year to 190.7 million Swiss francs. At the same time, the cost-income ratio improved by 4 percentage points.


Despite the COVID-19 pandemic and resulting market distortions, LGT has “reported strong business results” for the first half of 2020, as the bank writes in its press release on the half-year results. The international private banking and asset management group owned by the Principality of Liechtenstein reportedly generated total operating income of 900.0 million francs in the reporting period. When compared with the previous year, this equates to growth of 6 percent.
Income from services rose 7 percent year on year to 572.3 million francs in the first half of 2020. Income from trading activities and other operating income also increased by 7 percent to 185.3 million francs, while net interest income was up 3 percent to 142.4 million francs.
Total operating expenses remained largely unchanged compared with the prior-year period and amounted to 617.2 million francs, as LGT writes in the press release. The cost-income ratio improved from 72.6 percent to 68.6 percent. LGT posted group profit of 190.7 million francs, which is 23 percent more than in the first half of 2019.
LGT’s net asset inflows amounted to 1.6 billion francs in the first six months of 2020. When compared with the end of 2019, the Group’s assets under management fell from 227.9 billion francs to 218.7 billion francs as a result of market effects.
“All of LGT Group’s business units have developed well in the first half of 2020 and have shown their strength, professionalism and proximity to clients despite the unprecedented circumstances,” commented Prince Max von und zu Liechtenstein in the press release. The CEO of the LGT Group believes that LGT is “well positioned in any scenario – a return to normality or a longer-term economic downturn – to achieve further growth and create value for our clients”.

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