LLB Verwaltung (Switzerland) Ltd. comes to agreement with US authorities

Vaduz, 5 August 2019. LLB Verwaltung (Switzerland) Ltd. has reached a settlement with the US authorities regarding the US business of the former Liechtensteinische Landesbank (Switzerland) Ltd. The agreement includes a payment of USD 10.7 million, which is covered by provisions.

LLB Verwaltung (Switzerland) Ltd. is the successor company to Liechtensteinische Landesbank (Switzerland) Ltd., which ceased its banking operations as of the end of 2013. The company has reached a conclusive, out-of-court settlement with the US Department of Justice and signed a non-prosecution agreement. The payment of USD 10.7 million is fully covered by provisions and will have no effect on the ongoing results of the LLB Group.