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Liechtensteinische Landesbank expects lower full-year profits

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Liechtensteinische Landesbank expects lower full-year profits

Liechtenstein-based Liechtensteinische Landesbank AG said the expansion of its operations will hit its profits for the full year.

The bank expects its net profit to drop 23% to about CHF85 million, as it has hiked spending to integrate the merger with Vienna-based private bank Semper Constantia Privatbank AG, which it acquired in 2017.

As of Jan 16, US$1 was equivalent to 99 Swiss centimes.