National Bank of Liechtenstein explained

Bank Name In Local:Liechtensteinische Landesbank
Image 1:LLB Logos Master RGB POS.svg
Image Title 1:Logo since 2023
Image 2:National Bank of Liechtenstein.JPG
Image Title 2:Headquarters
Headquarters:Vaduz
Established:1861
President:Georg Wohlwend
Leader Title:Chairman
Bank Of:Liechtenstein
Currency:Swiss franc
Currency Iso:CHF
Website:www.llb.li
Trade Name:LLB
Liechtensteinische Landesbank AG
Type:Aktiengesellschaft
Industry:Banking
Area Served:Austria, Liechtenstein and Switzerland
Revenue Year:2023
Net Income Year:2023
Assets Year:2023
Equity Year:2023
Num Employees:1213
Num Employees Year:2023
Subsid:LLB (Österreich) AG
LLB (Schweiz) AG
Location:Vaduz, Liechtenstein

Liechtensteinische Landesbank AG, trading as LLB (stylised as llb), is a financial institution located in Liechtenstein, based in the capital city Vaduz. Since 1993 it has been listed as a company at the SIX Swiss Exchange, with the majority of shares (57.5%) owned by the Liechtenstein state. As the state is in a customs and monetary union with Switzerland and has adopted the Swiss franc as official currency, the monetary policy and money supply is the sole responsibility of the Swiss National Bank (SNB).

In addition to its primary operations in Liechtenstein, LLB also operates in Austria and Switzerland.

History

In 1992 Liechtenstein joined the European Economic Area which made the bank fear for its country's bank secrecy policy.[1]

In 1993, the Liechtensteinische Landesbank was listed in the Swiss Stock Exchange, with the majority of shares (57.5%) owned by the Liechtenstein state.[2]

In February 2007, the Liechtensteinische Landesbank became a controlling shareholder of the Banque Linth.[3]

Tasks

Due to Liechtenstein's signed valuta union agreement with Switzerland and its adoption of the Swiss franc as its official currency, the Swiss National Bank performs most duties in administration of macro finance, currency and credit of banks. The National Bank of Liechtenstein however is responsible for the following three tasks:

  1. "To be secretariat for the Government in the administration of macro finance, currency, credit of Banks within the country."
  2. "To promote and maintain stability of price within the country; strengthen the efficiency of payments mechanism."
  3. "To promote and facilitate control on the flows of money to serve the socio-economic development plan of the Liechtenstein."

CEOs

See also

External links

Notes and References

  1. News: 1992-12-15 . Une semaine après le rejet suisse Le Liechtenstein a approuvé nettement l'adhésion à l'Espace économique européen . 2024-01-08 . Le Monde.fr . fr.
  2. Web site: About us: Our company at a glance . dead . https://web.archive.org/web/20130508052524/https://www.llb.li/en/llb/about-us . 8 May 2013 . 26 January 2013 . Liechtensteinische Landesbank.
  3. News: 6 February 2007 . Contrôle de la Banque Linth: la LLB l’emporte devant la Banque de Glaris . 8 January 2024 . Agefi . fr.
  4. https://issuu.com/liechtensteinischelandesbank/docs/llb-festschrift Im Wandel beständig 1861 – 2011 by Liechtensteinische Landesbank – Issuu
  5. http://berichte.llb.li/2019/geschaeftsbericht/stakeholder-bericht/corporate-governance/gruppenleitung.html Gruppenleitung – Liechtensteinische Landesbank – Geschäftsbericht 2019