Liechtensteinische Landesbank reports that it expects a net profit of about SFr98 million (around $108 million) for the 2012 business year. This is down from SFr15.4 million in 2011.

During the year, LLB Group increased its operating income by 21 per cent to SFr409 million. The main contributors to this were: an increase in the value of investments of about SFr44 million (2011: SFr0.5 million); earnings from trading of about SFr19 million (2011: loss of SFr6.2 million); a one-time reduction of personnel expenses of about SFr20 million due to a change in the staff pension fund; and about SFr20 million fewer write-downs for credit risks.

While client assets under management increased by 5 per cent to SFr49.9 billion, this was due to market conditions; the firm experienced a net new money outflow of around SFr390 million. Loans to clients grew by 3 per cent.