Liechtensteinische Landesbank drew momentum from several acquisitions last year – as well as favorable financial markets.
LLB, or Liechtensteinische Landesbank's first-half net profit rose by nearly one-third to 61 million Swiss francs ($62 million), it said in a statement on Monday. The result was smoothed by last year's acquisitions of Austria's Semper Constantia Privatbank and LB (Swiss) Investment; favorable markets also helped.
Revenue rose to 224 million francs, from 183.5 million year-ago, while spending climbed more than 18 percent to 152 million francs. The bank's business volume – client assets plus loans – rose by 5.5 billion francs to 85.6 billion francs. The bank publishes full results on August 27.
