Overview of Banks in Liechtenstein
Liechtenstein’s banking industry is one of the most prominent industries as approximately twenty-five percent of the GVA i.e. gross value added to the nation stems only from its services of finance. Well, there are 3 major reasons behind this Liechtenstein’s strong industry related to banking.
First reason, there is political continuity which will allow the banking system and the financial services in Liechtenstein to thrive and grow.
Secondly, the currency of Liechtenstein i.e. Swiss Franc is a stable currency.
And lastly, Liechtenstein has a legal certainty or one can say legal stability which shall allow the banking sector and the financial services to operate smoothly and peacefully.
Banks of Liechtenstein are the one that is capitalized in the best manner. The equity ratio of the banks in Liechtenstein is approximately fifteen percent average and they were immune from the financial crisis as well and even didn’t need any financial help from their government.
As of today, there are more than sixteen licensed banks in the country and the primary or the core focus of these banks in Liechtenstein is on wealth management and private banking. It can be noticed that the banks here don’t provide any investment banking related services.
Top 10 Banks in Liechtenstein
Here is a list of the top 10 Banks which are as follows:
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1. LGT Bank
LGT Bank with more than 46% market share is the largest bank in Liechtenstein. The bank headquarters is situated in Vaduz. The Bank provides services like highly specialized asset management services and private banking. It has handled around CHF 41 million of the total assets. LGT Bank had generated revenue around CHF228k in the year 2017. In the same year, the net income of LGT Bank was around CHF283k. It employs around 808+ employees.
2. Liechtensteinische Landesbank AG (LLB)
Liechtensteinische Landesbank AG (LLB) was founded in 1861 and is the 2nd largest bank in Liechtenstein in terms of asset control with more than 22% market share. The bank headquarters is situated in Vaduz. The Bank offers various services such as investment management, corporate banking, retail banking, and private banking. It has handled around more than CHF14.223 billion of the total assets. It employs around 503+ employees.
3. VP Bank AG
VP Bank AG was founded in 1956 and is the 3rd largest bank in this list by assets and this bank holds around 17% of the market share and is considered one of the fastest growing banks in Liechtenstein. The headquarter of VP bank is situated in Vaduz. Bank offers services such as specialized asset management, private banking services, and specialized investment advisory services, VP Bank AG had generated revenue of around CHF50.88 million in 2017. Approximately more than 524 employees work here.
4. Valartis Bank
Valartis Bank was first incorporated in 1998 and is the 4th largest bank in terms of asset controlling and its market share is around 3%. The bank headquarters is in Gamprin-Bandern. Valartis Bank functions as a standard investment bank and it also has an investment advisory department which is considered to be best in Liechtenstein, that offers investment in financial instruments around the world. The bank reports CHF175.60 billion in assets and CHF212 million net loss for the half year of 2018. 89+ employees work here.
5. Banque Havilland (Liechtenstein) AG
Banque Havilland (Liechtenstein) AG was incorporated in the year 2014 and this bank ranks at number 5 in terms of assets controlling and again with a market share of around 3%. This bank of Liechtenstein provides private banking functions and services to its clients. The headquarter of VP bank is situated in Vaduz. The Bank has handled around more than CHF1509.00 million of the total assets. More than 150 employees work here.
6. Bank Frick
Bank Frick a family-run private bank which was established in 1998 and stands at number 6 in terms of asset control. The bank is headquartered in Balzers and its market share is close to 3%. Bank Frick provides services to its customers’ investment advisory services, specialized asset management, and estate management. It has handled around CHF1.34 billion of the total assets in the year 2017 and net profit CHF6.27 million for the same period. It employs more than 45 people.
7. Neue Bank AG
Neue Bank AG was incorporated in 1992 and operates as a private bank. The headquarter of this bank is in Vaduz. This bank comes at number 7 in terms of total assets acquired. The bank majorly focuses on private banking in Liechtenstein, however, it does not offer investment banking services like the other private banks. It employs more than 56 people. Total assets reported as for 2017 were CHF1.23 billion, net income CHF10.64 million.
8. Volksbank AG
Volksbank AG Asia has established its operations in 1997 in Liechtenstein and its headquarter is located in Schaan and this bank ranks at number 8 in terms of total assets controlled with close to 2% market share. Services such as domestic retail banking and private banking, it offers. 34+ employees are employed by this bank. The bank reports EURO11 billion for the year 2018.
9. Kaiser Partner
This is the 9th position bank in terms of asset controlled and was founded in 1931. The market share of the bank comes to close to 1%. It is headquarter located in Vaduz. Kaiser Partner offers services such as asset management and private banking. As an investment bank, this private bank has earned a reputation for its sustainable investment practices and responsibility for the same over time. It has handled around CHF499.30 million of the total assets. It employs more than 34 people.
10. Raiffeisen Privatbank Liechtenstein AG
Raiffeisen Privatbank Liechtenstein AG is part of Austrian Raiffeisen Banking Group and this bank stands at number 10 in this list which was founded in 1998 and it has headquarter located in Vaduz. Further, it’s market share comes around close to 0.50%. Bank offers investment advisory services, traditional asset management, and estate management. For Q3, 2018 revenues stood at EURO856mn and net profit above EURO452mn with total assets of EURO146.18bn. Around more than 28 people work in this bank.
This has been a guide to Top banks in Liechtenstein. Here we have discussed the 10 topmost banks in Liechtenstein with their financial structure. You may also look at the following articles: