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.
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 1'092 employees (full-time equivalent positions), the LLB Group is represented in Liechtenstein, Switzerland, Austria, and the United Arab Emirates (Abu Dhabi and Dubai). As per 30 June 2019, the LLB Group managed a business volume of CHF 85.6 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