LLB, the company in which Liechtenstein holds a majority stake, plans to boost its business by almost a fifth. As it bids to achieve this level of growth, the bank is holding takeover negotiations with a Swiss fund society.
Liechtensteinische Landesbank (LLB) wants to increase its business volume to more than 70 billion Swiss francs, the company said in a statement last night. The last company report released in June 2017 put its business at 60 billion francs.
The bank wants to achieve part of the increase through organic growth, part through acquisitions in Liechtenstein, Switzerland and Austria, it said yesterday.
Takeover Negotiations
As part of the strategy, LLB aims to expand the fund services business and is considering an entry in the Swiss market for fund services by acquiring a fund company. LLB didn't say which company it may buy.
In order to implement its strategy, LLB is conducting discussions on growth through acquisition in Austria and – in the field of fund services – in Switzerland.
