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Liechtensteinische Landesbank (LLB) Annual Report Excerpt
Financial Performance
Key Highlights
- High level of financial stability and security: LLB’s comfortable capital situation allows for further acquisitions, ensuring long-term sustainability.
- Strong deposits rating: Aa2 rating from Moody’s is one of the highest in the world, indicating stability and financial strength.
Credit Management
Loan Growth and Securitization
- Loans made during the reporting year: CHF 13.8 billion were extended to clients, with a significant portion (90.3%) secured by mortgages.
- Market share growth: The bank successfully increased its market share of loans, reaching CHF 15.3 billion in volume at the end of 2023.
Risk Management
Credit Policy and Governance
- Authorization process: Loans are granted based on a level of knowledge and experience, as well as the type of loan, ensuring informed credit decisions.
- Risk-conscious approach: Loan applications are evaluated separately and conservatively, with a focus on collateral value assessment.
Compliance Risks
Risk Management Process
- Compliance organisation: A dedicated team focuses on combating money laundering, financing terrorism, tax compliance, and regulatory requirements.
- Three lines of defence: The compliance organisation is part of the risk management process, comprising:
- First line: Day-to-day business operations
- Second line: Monitoring and control functions
- Third line: Internal audit
Cyber Risks
Information Security Measures
- High priority on protection: LLB prioritizes protecting against cyber attacks through IT systems and trained employees.
- Information security guidelines: Requirements are set out in company-wide guidelines, implemented through technical and organisational measures.
Overall, the text suggests that Liechtensteinische Landesbank is committed to maintaining a strong financial position, managing risks effectively, and complying with regulatory requirements.