Responsibilities for society and the environment
The LLB Group aims to act responsibly and create value for our company, society and the environment. As partner of the Swiss Climate Foundation, through our «Zukunftsstiftung» (the Future Foundation of Liechtensteinische Landesbank AG) and through the sustainable management of resources, we are committed to leaving future generations with stable social conditions and an environment that is as intact as possible.
Sustainable business management is part of the Liechtensteinische Landesbank’s principles governing corporate strategy, making us a reliable partner for people and the economy. At the same time, social commitment has always been an essential part of our corporate identity. Our activities are in line with our statutory mandate: according to Art. 3 of the Law on the Liechtensteinische Landesbank (LLBG) of 21 October 1992 and according to the investment strategy of the Government of the Principality of Liechtenstein of 22 November 2011, LLB is mandated with the social responsibility of promoting Liechtenstein’s economic development while at the same time still taking ethical and ecological factors into account. In 2013, the economic contribution of the Liechtensteinische Landesbank – dividends, direct taxes and compensation of state guarantee – amounted to CHF 28.0 million (2012: CHF 39.4 million).
Transparent corporate governance
Integrity, performance and trustworthiness form the basis of responsible and transparent corporate governance, whereby effective risk management also plays a decisive role. By specifying a future-oriented risk strategy, the Board of Directors establishes the guidelines for dealing with risks. Moreover, the Board continues to develop the already high standards of corporate governance. Compliance with applicable laws and regulations, market norms, supervisory and internal regulations forms an essential base. Group Legal & Compliance advises the business divisions, identifies and analyses compliance risks.
Additionally, the LLB Group’s department Group Operational Risk / IKS continued to organize and operate the central and standardized internal control system (IKS) in 2013. As an integral part of our Group-wide risk management it contributes to increasing risk transparency within the company. Its objectives include effective and efficient management, compliance with laws, regulations and contractual obligations as well as with internal rules and regulations, directives and instructions, the avoidance, prevention and disclosure of mistakes and irregularities, the guarantee of effective and efficient processes as well as the assurance of reliable accounting and timely reporting.