Last year the LLB Group grew organically and in terms of acquisitions. At the same time, it recorded the highest net new money inflow since 2010. Annual profit will however be down on the previous year.

In advance information on the 2018 annual result, the LLB Group announced that it had increased its business volume year on year by 17.8 billion Swiss francs to 80.1 billion francs. Operating income also grew by 0.6 million to 400 million francs. Operating expenses rose in the same period by 39 million to 306 million francs. Consequently, the LLB Group expects a net profit of about 85 million francs, down 26.3 million francs compared to the previous year.

The banking group writes in the press release that, in particular, integration costs, the persistently low interest rate environment and the development of the equity markets affected the results in 2018. On the other hand, the net new money inflow of 1.3 billion francs was the highest since 2010. In the 2017 business year the net new money inflow had amounted to 470 million francs.

In the advance information the LLB Group also announced that it had successfully concluded its integration of LB(Swiss) Investment AG, which it acquired in April 2018, and Semper Constantia Privatbank AG, which it purchased in July 2018. According to the press release, the earnings contributions of the two new acquisitions were in line with expectations. The LLB Group will publish its audited consolidated annual report on 14 March 2019.

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