Liechtensteinische Landesbank : LLB (Österreich) AG achieves record profit

LLB Österreich closed its fiscal year very successfully, posting a record annual net profit of EUR 3.9 million. This was a 100% increase over the previous year. Thanks to gratifying growth figures and good performance, business volume also increased again, reaching an all-time high of EUR 2.55 billion at the end of 2017.

Robert Löw, Chairman of the Board of Management of LLB Österreich, drew attention to several positive developments: 'Under challenging market conditions, our bank developed extremely well in 2017 and also had a successful start to the new year. It is of particular note that we not only achieved growth in the year under review, but also increased our profitability and clearly exceeded our targets for the year.'

As part of the LLB Group's StepUp2020 strategy, we are continuing to expand business activities in our home market of Austria. The parent company of LLB Österreich, the Liechtensteinische Landesbank AG (LLB), is facing a historic step with its subsidiary. As announced in December 2017, the parent company is set to acquire 100% of Semper Constantia Privatbank AG, headquartered in Vienna, next month. A merger of Semper Constantia with LLB Österreich is then planned, resulting in the Liechtensteinische Landesbank (Österreich) AG.