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National Bank of Liechtenstein

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National Bank of Liechtenstein
Liechtensteinische Landesbank
Logo since 2023
Logo since 2023
Headquarters
Headquarters
HeadquartersVaduz
Established1861
ChairmanGeorg Wohlwend
Central bank ofLiechtenstein
CurrencySwiss franc
CHF (ISO 4217)
Websitewww.llb.li
Liechtensteinische Landesbank AG
LLB
Company typeAktiengesellschaft
SIX: LLBN
IndustryBanking
Founded1861; 163 years ago (1861)
HeadquartersVaduz, Liechtenstein
Area served
Austria, Liechtenstein and Switzerland
RevenueCHF 541,768,000 (2023)
CHF 164,570,000 (2023)
Total assetsCHF 25,691,573,000 (2023)
Total equityCHF 2,130,652,000 (2023)
Number of employees
1213 (2023)
SubsidiariesLLB (Österreich) AG
LLB (Schweiz) AG
Websitewww.llb.li

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 (57.5%) 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).

In addition to its primary operations in Liechtenstein, LLB also operates in Austria and Switzerland.

History

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In 1992 Liechtenstein joined the European Economic Area which made the bank fear for its country's bank secrecy policy.[1]

In 1993, the Liechtensteinische Landesbank was listed in the Swiss Stock Exchange, with the majority of shares (57.5%) owned by the Liechtenstein state.[2]

In February 2007, the Liechtensteinische Landesbank became a controlling shareholder of the Banque Linth.[3]

Tasks

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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:

  1. "To be secretariat for the Government in the administration of macro finance, currency, credit of Banks within the country."
  2. "To promote and maintain stability of price within the country; strengthen the efficiency of payments mechanism."
  3. "To promote and facilitate control on the flows of money to serve the socio-economic development plan of the Liechtenstein."

CEOs

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  • 1928–1967: Eduard Batliner[4]
  • 1967–1971: Josef Hilti[4]
  • 1971–1979: Werner Strub[4]
  • 1979–1996: Karlheinz Heeb[4]
  • 1996–1999: René Kästli[4]
  • 2000–2012: Josef Fehr[4]
  • Since 2012: Roland Matt[5]

See also

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References

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  1. ^ "Une semaine après le rejet suisse Le Liechtenstein a approuvé nettement l'adhésion à l'Espace économique européen". Le Monde.fr (in French). 15 December 1992. Retrieved 8 January 2024.
  2. ^ "About us: Our company at a glance". Liechtensteinische Landesbank. Archived from the original on 8 May 2013. Retrieved 26 January 2013.
  3. ^ "Contrôle de la Banque Linth: la LLB l'emporte devant la Banque de Glaris". Agefi (in French). 6 February 2007. Retrieved 8 January 2024.
  4. ^ a b c d e f Im Wandel beständig 1861 – 2011 by Liechtensteinische Landesbank – Issuu
  5. ^ "Gruppenleitung – Liechtensteinische Landesbank – Geschäftsbericht 2019". Archived from the original on 10 May 2023. Retrieved 1 April 2020.
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