Liechtensteinische Landesbank (LLBN) H1 2026 earnings summary

Executive summary

• Group net profit rose 15.3% year-over-year to CHF 105.0 million, driven by higher operating income, lower expenses, and broad-based growth.

• Business volume reached a record CHF 132.1 billion, with client assets under management at CHF 115.0 billion.

• ACT-26 strategy remains on track, focusing on growth, efficiency, and sustainability, with completion scheduled and a new strategy to be presented in September 2026.

• Moody’s upgraded the deposit rating to Aa1, the highest in Liechtenstein, highlighting financial strength.

• Operating expenses decreased by 6.8% to CHF 190.6 million, reflecting realized synergies and cost controls.

Financial highlights

• Net new money inflow of CHF 2.2 billion (+4.1% annualized), net new loans CHF 211 million (+2.5% annualized).

• Cost-income ratio improved to 59.5% (down 6.2 percentage points year-over-year).

• Tier-1/CET1 ratio at 18.5% as of June 2026.

• Net fee and commission income rose 6% to CHF 133.8 million.

• Earnings per share rose 15.3% to CHF 3.45.

Outlook and guidance

• Challenging market environment expected to persist due to ongoing geopolitical and economic uncertainties.

• Solid business result anticipated for full year 2026, with ACT-26 targets and net zero CO2 target by 2040 on track.

• Succession strategy implementation and Investors Day scheduled for September 2026.