Bank Linth, part of the Liechtensteinische Landesbank (LLB) banking group, has reported a year-on-year increase in its result and profit for financial year 2018. Net new money inflow was also up on 2017.

Bank Linth, an LLB subsidiary, reported in a press release that it generated operating income totaling 99.5 million Swiss francs in financial year 2018. When compared with financial year 2017, this equates to growth of 3.5 percent. Bank Linth’s interest income accounted for 67.9 million francs, up 3.4 percent gross on the previous year. By contrast, income from fee and commission business was down 2.6 percent year on year to 19.5 million francs. Growth of 7.7 percent was achieved in trading business, bringing this revenue to 7.1 million francs.

On the other side of the balance sheet, expenses remained stable compared to the prior year, at 60.6 million francs. Bank Linth posted operating profit of 36.0 million francs, which is 8.1 percent more than in financial year 2017. Bottom line, net profit was improved by 10.4 percent on the previous year to 25.0 million francs. The Bank also recorded net new money inflow of 294,205 francs in 2018. In financial year 2017, it had suffered an outflow of client assets amounting to 57,464 francs. 

“The sustainable growth of the Bank and the repeated profit increase highlight the success of our ‘Bank of the future’ strategy,” commented David Sarasin, Chairman of the Management Board at Bank Linth. “We anticipated changes in customer behavior in good time and took the appropriate steps to meet their requirements.”

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