National Bank of Liechtenstein
{{Short description|Central Bank of Liechtenstein}}
{{Use dmy dates|date=April 2022}}
{{Infobox central bank
|bank_name_in_local = Liechtensteinische Landesbank
|image_1 = LLB Logos Master RGB POS.svg
|image_title_1 = Logo since 2023
|image_2 = National Bank of Liechtenstein.JPG
|image_title_2 = Headquarters
|headquarters = Vaduz
|established = 1861
|president = Georg Wohlwend
|leader_title = Chairman
|bank_of = Liechtenstein
|currency = Swiss franc
|currency_iso = CHF
|reserves =
|website = [https://www.llb.li/en www.llb.li]
|preceded =
|succeeded =
|footnotes =
}}
{{Infobox company
| trade_name = LLB
| name = Liechtensteinische Landesbank AG
| type = Aktiengesellschaft
| traded_as = {{SWX|LLBN}}
| industry = Banking
| homepage = {{url|www.llb.li}}
| foundation = {{start date and age|1861}}
|area_served = Austria, Liechtenstein, Switzerland, Germany, Dubai and Abu Dhabi
| business_volume = {{Currency|113.5 billion|CHF}}
| business_volume_year = 2024
| net_profit = {{Currency|167.2 million|CHF}}
| net_profit_year = 2024
| assets = {{Currency|97.0 billion|CHF}}
| assets_year = 2024
| equity = {{Currency|2.2 billion|CHF}}
| equity_year = 2024
| num_employees = 1286
| num_employees_year = 2024
| subsid = Liechtensteinische Landesbank (Österreich) AG
LLB (Schweiz) AG
| location = Vaduz, Liechtenstein
}}
Liechtensteinische Landesbank AG, trading as LLB (stylised as llb), is a financial institution located in Liechtenstein, based in the capital city Vaduz. Since 1993 it has been listed as a company at the SIX Swiss Exchange, with the majority of shares (56.3%) owned by the Liechtenstein state. As the state is in a customs and monetary union with Switzerland and has adopted the Swiss franc as official currency, the monetary policy and money supply is the sole responsibility of the Swiss National Bank (SNB).
The LLB Group offers its clients wealth management services: as a universal bank, in private banking, asset management and fund services. With over a thousand employees, it is present in Liechtenstein, Switzerland, Austria, the United Arab Emirates and, since 2024, in Germany. As at 31 December 2024, the business volume of the LLB Group was 113.5 billion Swiss francs.
In addition to its primary operations in Liechtenstein, LLB also operates in Austria and Switzerland, Germany, Dubai and Abu Dhabi.
History
In 1992 Liechtenstein joined the European Economic Area which made the bank fear for its country's bank secrecy policy.{{Cite news |date=1992-12-15 |title=Une semaine après le rejet suisse Le Liechtenstein a approuvé nettement l'adhésion à l'Espace économique européen |url=https://www.lemonde.fr/archives/article/1992/12/15/une-semaine-apres-le-rejet-suisse-le-liechtenstein-a-approuve-nettement-l-adhesion-a-l-espace-economique-europeen_3927169_1819218.html |access-date=2024-01-08 |work=Le Monde.fr |language=fr}}
In 1993, the Liechtensteinische Landesbank was listed in the Swiss Stock Exchange, with the majority of shares (57.5%) owned by the Liechtenstein state.{{cite web |title=About us: Our company at a glance |url=https://www.llb.li/en/llb/about-us |url-status=dead |archive-url=https://web.archive.org/web/20130508052524/https://www.llb.li/en/llb/about-us |archive-date=8 May 2013 |access-date=26 January 2013 |publisher=Liechtensteinische Landesbank}}
In February 2007, the Liechtensteinische Landesbank became a controlling shareholder of the Banque Linth.{{Cite news |date=6 February 2007 |title=Contrôle de la Banque Linth: la LLB l'emporte devant la Banque de Glaris |url=https://agefi.com/actualites/archives/controle-de-la-banque-linth-la-llb-lemporte-devant-la-banque-de-glaris |access-date=8 January 2024 |work=Agefi |language=fr}}
Tasks
Due to Liechtenstein's signed valuta union agreement with Switzerland and its adoption of the Swiss franc as its official currency, the Swiss National Bank performs most duties in administration of macro finance, currency and credit of banks. The National Bank of Liechtenstein however is responsible for the following three tasks:
- "To be secretariat for the Government in the administration of macro finance, currency, credit of Banks within the country."
- "To promote and maintain stability of price within the country; strengthen the efficiency of payments mechanism."
- "To promote and facilitate control on the flows of money to serve the socio-economic development plan of the Liechtenstein."
CEOs
- 1928–1967: Eduard Batliner[https://issuu.com/liechtensteinischelandesbank/docs/llb-festschrift Im Wandel beständig 1861 – 2011 by Liechtensteinische Landesbank – Issuu]
- 1967–1971: Josef Hilti
- 1971–1979: Werner Strub
- 1979–1996: Karlheinz Heeb
- 1996–1999: René Kästli
- 2000–2012: Josef Fehr
- 2012-2021: Roland Matt
- since 2021: Gabriel Brenna
See also
{{Portal|Banks}}
References
{{Reflist}}
External links
{{Commons category}}
- [https://web.archive.org/web/20130613204231/https://www.llb.li/en Official site: National bank of Liechtenstein]
- [https://archive.today/20120731053417/http://www.forexmotion.com/index.php/en/exchange-rates.html Swiss and World Interest Rates], updated by ForexMotion.com.
{{Central banks}}
{{Authority control}}
Category:Banks established in 1861