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Liechtenstein-based LGT Bank eyes banking business in Germany

Liechtenstein-based family-owned LGT Bank AG will seek onshore banking business in Germany to generate growth, finews.com reported March 18, citing the lender's CEO, Prince Max von und zu Liechtenstein.

The prince, the second son of Liechtenstein's sovereign, Prince Hans-Adam II, told the media that the bank plans to open an office in Munich with the approval of local regulator BaFin, without specifying any timing. German regulators blocked a previous deal between LGT and ODDO BHF AG owing to differences of opinion on banking secrecy and untaxed assets, according to the report.