According to the latest bank statistics from the Office of Statistics (AS), the 14 financial institutions in Liechtenstein achieved a total of CHF 286.9 million in net profits last year. Compared to 2015, this represents an increase of 19.8 per cent. The aggregated balance sheet totals fell by 1 per cent in the same period to CHF 59.9 billion.
Higher income from financial transactions contributed substantially to this growth. Compared to the previous year, these grew by 51.4 per cent to reach CHF 213 million. Income in interest-related operations rose during the same period by 10 per cent to reach CHF 335.4 million.
At CHF 657.7 million, income from underlying earnings was up 9.3 per cent over 2015 results. Of this, CHF 380.1 million was attributable to personnel expenses and CHF 277.6 million to material expenses.
Assets under management by the Liechtenstein banks grew by 3.9 per cent in 2016 to reach CHF 125.9 billion. New money inflows in 2016 amounted to CHF 0.6 billion. In the previous year, the banks had to accept a new money outflow of CHF 1.3 billion.