LLB General Meeting – Shareholders approve all proposals
Vaduz, 3 May 2019. At the 27th Ordinary General Meeting of Liechtensteinische Landesbank AG (LLB) on Friday evening, 880 shareholders approved all the proposals of the Board of Directors. They approved the payment of a dividend of CHF 2.10 per LLB share. Dr. Karl Sevelda was elected as a new member of the Board of Directors. The BoD mandate of Dr. Patrizia Holenstein was extended by three years.
The Annual Report 2018 was approved by the General Meeting, which this year was again held in the tennis hall in Schaan. Furthermore, the LLB shareholders granted official discharge to the Board of Directors, as well as to the Executive Board and the external auditors. PricewaterhouseCoopers AG, St. Gallen, were again appointed as the external auditors for a further period of one year.
5 percent higher dividend
The Liechtensteinische Landesbank pursues a long-term, attractive dividend policy for the benefit of its shareholders. The 5 percent higher dividend of CHF 2.10 proposed by the Board of Directors was also approved by the shareholders. The dividend yield therefore amounted to 3.3 percent. The dividend will be paid out on Thursday, 9 May 2019.
Dr. Karl Sevelda elected to the Board of Directors
With the election of Dr. Karl Sevelda to the Board of Directors, the shareholders have chosen a very experienced banker, and a profound expert on the European financial market with a specialist knowledge of the Austrian financial centre. For more than forty years, Karl Sevelda has been actively engaged in banking business. From 2013 to 2017, he was Chairman of the Executive Board of Raiffeisen Bank International – a banking group comprising around 50'000 employees worldwide. Moreover, he is Chairman of the Institute for Economic Research Eco Austria. Dr. Patrizia Holenstein was re-elected to the Board of Directors for a third term of office of three years.
2018 characterised wholly by growth
Sustainable profitable growth was the central theme for the LLB Group in the 2018 business year. In his speech, BoD Chairman Georg Wohlwend highlighted the successful takeovers of Semper Constantia Privatbank and the fund management company LB(Swiss) Investment: "As a result of these takeovers, we have advanced to become the leading asset management bank in Austria and to become an investment fund powerhouse in the Liechtenstein, Austria and Switzerland region." In the third year of the StepUp2020 strategy, the LLB Group is well on course to achieving target growth, stressed Group CEO Roland Matt: "With a business volume of over 80 billion Swiss francs, we achieved a new record and even exceeded our own expectations earlier than anticipated. The same applies to client assets under management, which increased by almost 34 percent to over 67 billion Swiss francs. With a net new money inflow of 1.3 billion Swiss francs, we attained the highest level since 2010. We have therefore successfully confirmed the turnaround in trend initiated in the previous year. The inflows were recorded in all three market segments and booking centres." Both the Chairman of the Board of Directors and the Group CEO emphasised that, in the remaining two years of the strategy period, the focus will be increasingly placed on the profitability of the bank, and that strict cost management will be a high priority.
European investment champions
In his speech, Roland Matt also congratulated the LLB Asset Management team. In April, the team won the Refintiv Lipper Fund Award Europe for the best range of funds in its category in the flagship discipline "overall principal asset classes". "Our Asset Management has already won gold for us many times previously, and now it has crowned its achievements by winning the title of European champions! This confirms that our team – which by the way is the largest investment team in Liechtenstein – consistently achieves good performance. For our clients, this means they can have confidence in our high investment competence and be sure of having a reliable partner at their side", said a delighted Group CEO.
The Liechtensteinische Landesbank AG (LLB) is the longest established financial institute in the Principality of Liechtenstein. The Principality of Liechtenstein holds the majority of the company's share capital. The LLB's shares are listed on the SIX Swiss Exchange (symbol: LLBN). The LLB Group offers its clients comprehensive wealth management services, as a universal bank, in private banking, asset management and fund services. With 1'086 employees (full-time equivalent positions), the LLB is represented in Liechtenstein, Switzerland, Austria, and the United Arab Emirates (Abu Dhabi and Dubai). As per 31 December 2018, the LLB Group managed a business volume of CHF 80.1 billion.
- 27 August 2019, 2019 Interim Finanical Statement
- 12 March 2020, Presentation of the 2019 Annual Result
- 8 May 2020, 28th Ordinary General Meeting of Shareholders
Dr. Cyrill Sele
Head of Group Corporate Communications & General Secretary
Telephone +423 236 80 99