Joint projects to go ahead at once
Vaduz, 2 March 2010. Liechtensteinische Landesbank (LLB) and VP Bank agree to co-operate in matters of logistics and information technology. Using synergies and achieving economies of scale in the sectors of “Print and Dispatch” and “Computer Centers” reduces costs. Initial projects will be launched during 2010 and implemented at the banks’ location in Liechtenstein. Further cooperative relationships are being examined in other service areas.
The Boards of Directors of LLB and VP Bank, at the request of the Boards of Management, have resolved to enter into close co-operation in the business sectors of logistics and information technology. Specifically this involves combining print and dispatch infrastructure and shared use of buildings to accommodate computer centers.
A project will start in “Print and Dispatch” in the first half of 2010. “We are considering outsourcing and building a joint Print and Dispatch Center in Liechtenstein. We expect this to result in better utilization of the capacity of the expensive printing systems, and clear cost savings,” notes Dr. Kurt Mäder, member of LLB’s Board of Management and competent for the Corporate Service Center. “We expect to reap the first cost savings in the course of the current financial year. As a further step, we also want to consider co-operation in other service areas,” adds Gerhard Häring, member of the Group Executive Management of VP Bank with responsibility for Banking Services.
From summer 2012, LLB is going to install two new computer centers in its new building at its Eschen branch. VP Bank Group will lease and use one of these. Dr. Kurt Mäder and Gerhard Häring are firmly convinced: “Operating the computer centers in the same building offers attractive opportunities for both banks to save installation, maintenance and operating costs.”
| Brief portrait Liechtensteinische Landesbank Liechtensteinische Landesbank AG (LLB) is the longest established financial institution in the Principality of Liechtenstein. The majority shareholder is the Principality of Liechtenstein. LLB shares are listed on the SIX Swiss Exchange (symbol: LLB). LLB Group offers its clients comprehensive wealth management services: as a universal bank, in private banking, asset management, fund services and trust services. LLB Group has 1,024 employees and is present in Liechtenstein, Switzerland, Austria, the United Arab Emirates (Abu Dhabi and Dubai), the Cayman Islands and Hong Kong. As at June 30, 2009, LLB Group had CHF 47.6 billion of client assets under management. |
