Liechtensteinische Landesbank aims to boost the volume of business substantially and will have to make an acquisition to make this happen, according to its CEO.
Liechtensteinische Landesbank (LLB) in first half of this year on balance had an inflow of net new money for the first time since 2010, adding 731 million Swiss francs to assets under management.
The company’s strategy («Stepup 2020») contains the goal of reaching sustainable, profitable growth to be reached by 2020. Business volume as a measure of assets under management and loans are to be expanded to 70 billion francs from a current 60 billion.
Acquisitions in Austria, Switzerland, Liechtenstein
«We are growing above-average in both dimensions. Nevertheless, we will need to make an acquisition to reach the target of 70 billion francs,» said Roland Matt, CEO of LLB, in an interview with «Finanz und Wirtschaft» (in German, behind paywall).
Matt, who’s been in charge of the Vaduz-based bank since 2012, with his plans to make an acquisition targets the three home markets of Austria, Liechtenstein and Switzerland. In Switzerland, LLB may add a private bank or retail bank, according to Matt. LLB already has a Swiss unit, having bought Bank Linth in 2007. Bank Linth is active in both business segments.
In Austria, LLB is looking into possibilities to buy a private bank only, while LLB in Liechtenstein aims to buy private banks, retail banks or financial intermediaries.
Growth Potential in Funds Business
Matt, 47, also sees growth potential in the funds business, which added strongly in the first half. Liechtenstein has an advantage over Switzerland because it is a member of the European Economic Area, allowing it to offer so-called Ucits funds and alternative and closed funds full access to the European market.
«For Swiss asset managers there are a host of interesting opportunities via our funds services,» Matt added.
