This post is about Banks in Liechtenstein, where we looked at an Overview of Banks in Liechtenstein, via Afrokonnect. Because financial services account for approximately 25 percent of the country’s total gross value added, the banking sector in Liechtenstein is often regarded as one of the most important economic sectors in the country.
There are three primary factors that contribute to Liechtenstein’s robust financial services sector: “To begin, there is political continuity in Liechtenstein, which makes it possible for the country’s financial sector and banking industry to continue to expand and prosper.
Second, there is a reliable currency used in Liechtenstein, and that currency is the Swiss franc. Last but not least, the nation possesses a legal certainty that paves the way for the banking and financial services sector to operate in peace.
The banks of Liechtenstein have some of the highest capitalization in the world. Their average equity ratio is somewhere around 15%, and they did not require any form of financial assistance from the government despite the severity of the recession.
Structure of Banks in Liechtenstein
There are now sixteen banks in Liechtenstein that have been granted banking licenses. These financial institutions place a primary emphasis on private banking as well as wealth management.
Furthermore, they do not offer any services that are associated with investment banking. According to the information that was gathered, it was discovered that the assets under management (AUM) of the banks in Liechtenstein were around 212 billion dollars in the United States. Recently, two of the banks in the principality of Liechtenstein ceased operations.
List of Top 10 Banks in Liechtenstein – Private and Commercial Liechtenstein Banks
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LGT Bank
First and foremost, the LGT Bank is the most successful bank in Liechtenstein in terms of the accumulation of total assets. According to released information, it was discovered that this bank had a total asset acquisition of 29,108.20 million Swiss Francs (CHF).
As a direct consequence of this, the market share is quite high—approximately 46.61%. The annual profit for LGT bank was 112.30 million Swiss Francs (CHF). Private banking and asset management make up the core business of this financial institution. There are approximately 808 people employed here. Vaduz serves as the location of its headquarters.
2. Liechtensteinische Landesbank AG (LLB)
The Liechtensteinische Landesbank AG (LLB) comes in at number two on the list of the most successful banks in terms of the total assets they have acquired. In the year 1861, when it was approximately 157 years ago, this bank was established. LLB was able to buy a total of 14223.20 million Swiss Francs’ worth of assets.
Additionally, the market share was remarkable, coming in at approximately 22.78%. The annual profit totaled 77.60 million Swiss Francs. This bank places a primary emphasis on corporate banking, private banking, and retail banking services for their customers. There are approximately 503 people employed here. Vaduz serves as the location of the company’s headquarters.
Top Banks in Liechtenstein – Private Banks
3. VP Bank AG
This is the third largest bank in terms of the total assets that it has acquired, and its name is VP Bank AG. 1956 marked the beginning of this financial institution, making it close to 61 years old.
VP Bank AG was able to purchase a total of assets worth 11083.10 million Swiss Francs (CHF). The market share was pretty satisfactory, coming in at approximately 17.75%. Annual profit amounted to 41.20 million Swiss Francs.
The management of assets and the provision of investment consulting services to individual customers are the two key focuses of this financial institution. There are approximately 524 people employed here. Vaduz serves as the location of the company’s headquarters.
4. Valartis Bank
Valartis Bank, at number four, is the fourth largest bank in terms of the total assets it has acquired. Only nineteen years have passed since the founding of Valartis Bank in the year 1998.
This bank brought in a total of 1,671.00 million Swiss Francs worth of assets during the calendar year. During the same year, this banking institution held a 2.68% share of the market.
The annual earnings amounted to 6,000,000,000 Swiss Francs (CHF). This place employs close to 89 individuals total. Over twenty different tongues are represented on the team working in the bank. The primary focuses of this financial institution are personalized banking and asset management. Gamprin-Bendern is the location of the company’s headquarters.
Top Banks in Liechtenstein – Private Banks
5. Banque Havilland (Liechtenstein) AG
The Banque Havilland (Liechtenstein) AG comes in at number five on the list of the most successful banks in terms of the total assets they have acquired. After purchasing a portion of Banque Pasche (Liechtenstein) AG, it was not until 2014 that the company’s inception was officially announced.
This bank brought in a total of 1,509.00 million Swiss Francs worth of assets to its portfolio. In the same year, this banking institution held a 2.42% share of the market. The annual profit amounted to 2.70 million Swiss Francs (CHF).
Approximately 151 people are employed here. This bank places a primary emphasis on asset management as its primary function. Vaduz serves as the location of its headquarters.
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6. Bank Frick & Co. AG:
This bank is located in the principality of Liechtenstein and was established only above 19 years ago, in the year 1998. This bank is ranked sixth overall in terms of the total assets that it has acquired. Bank Frick & Co. AG was able to buy a total of 1,330.00 million Swiss Francs worth of assets.
During the same time period, the market share was 2.29%. The annual profit amounted to 1.80 million Swiss Francs (CHF). There are approximately 45 individuals employed here. Administration of wealth and the management of investments in real estate are its primary concerns. Balzers is the location of the company’s headquarters.
7. Neue Bank AG:
This financial institution is currently in seventh place in terms of the total assets that it has amassed. A total of 1178.80 million Swiss Francs was spent on the acquisition of assets. In the same year, the annual profit was 7.60 million Swiss Francs. The company had a market share of 1.89%.
This was formed in the year 1992, making its age something in the neighborhood of 25 years. The private banking sector is where Neue Bank AG primarily focuses its attention. There are approximately 56 individuals employed here. Vaduz serves as the location of its headquarters.
Top Banks in Liechtenstein – Private Banks
8. Volksbank AG
Volksbank AG is ranked as the eighth best bank in Liechtenstein. A total of 710.90 million Swiss Francs was spent on the acquisition of assets. Both the annual profits and the market share were 1.14 percent and 5.20 million Swiss francs, respectively.
1997 marks the beginning of its existence, therefore it has been around for approximately 20 years. Private banking and retail banking within the country are the primary focuses of this financial institution. There are approximately 34 people employed here. Schaan is the location of Volksbank AG’s main office and headquarters.
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Kaiser Partner Privatbank AG:
This financial institution first opened its doors in 1931, making it about 86 years old. This position occupies the ninth spot in the ranking in terms of the total assets that were purchased.
Kaiser Partner was able to obtain a total asset value of 499.30 million Swiss Francs (CHF). The company held a 0.80% share of the market. Kaiser Partner recorded an annual profit of 2.10 million Swiss Francs.
Private banking and wealth management are where Kaiser Partner places its primary emphasis. There are approximately 34 people employed here. In Vaduz, they have their headquarters.
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10. Raiffeisen Privatbank Liechtenstein AG
The Raiffeisen Privatbank Liechtenstein AG is the tenth largest bank in the country of Liechtenstein in terms of the total assets that it has acquired. The total assets that were bought by Raiffeisen Privatbank Liechtenstein AG in the year amounted to 304.50 million Swiss Francs (CHF).
During the same year, this bank held a share of the market that was 0.49%. In addition, the annual profit of this bank in the same year was one million Swiss francs (CHF). This place employs somewhere around 28 individuals. Private banking and wealth management make up the bulk of this financial institution’s operations. This financial institution’s main office may be found in Vaduz, Switzerland.
List of Top 10 Banks in Liechtenstein
- LGT Bank
- Liechtensteinische Landesbank AG (LLB)
- VP Bank AG
- Valartis Bank
- Banque Havilland (Liechtenstein) AG
- Bank Frick & Co. AG
- Neue Bank AG
- Volksbank AG
- Kaiser Partner Privatbank AG
- Raiffeisen Privatbank Liechtenstein AG
Above we’ve looked at each one of them in detail, we hope you liked this guide to top banks in Liechtenstein. Let us know what you think via the comment section below.
