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Liechtenstein is world’s top philanthropy environment
Liechtenstein offers the best environment in the world for philanthropic engagement. This is a finding from the Global Philanthropy Environment Index 2022 compiled by the University of Indiana.
Liechtenstein’s banks support refugees
The three large Liechtenstein banks are providing refugees from Ukraine with a fee-free account connection until further notice. With this free access to banking, they are helping persons from Ukraine with protection status “S” cope with their daily lives in Liechtenstein as quickly as possible.
Benelux ambassadors visit Liechtenstein Bankers Association in Vaduz
Three ambassadors from Benelux countries have met the Liechtenstein Bankers Association for the first time during their visit to Vaduz. In addition to issues relating to the European market, sustainability, and digitization, the war in Ukraine was a central topic.
Liechtenstein finance sector implementing sanctions against Russia
The Liechtenstein Bankers Association and the Liechtenstein Institute of Professional Trustees and Fiduciaries have pledged their full support to the authorities in implementing the sanctions levied against Russia. The organizations play a key role as intermediary bodies within the Liechtenstein finance sector. The Liechtenstein Bankers Association (LBA) and the Liechtenstein Institute of Professional Trustees and Fiduciaries (THK), headquartered in Vaduz, have pledged their full support to the government and authorities in implementing the sanctions imposed on Russia. As the most important and largest associations of the Liechtenstein finance sector, the LBA and THK are aware of their responsibility and key role in the enforcement of sanctions, they explain as part of a joint statement. «We recognize the central role of financial intermediaries with regard to the sanctions imposed worldwide and assure the Liechtenstein government of our full support in the consistent implementation and application of these sanctions», the statement reads. As such, the LBA and THK are maintaining regular contact with the competent authorities and the government’s crisis team. Moreover, the organizations «vigorously» condemned the Russian invasion of Ukraine in the joint statement, expressing their hope for a swift end to the war and a «return to dialogue and diplomacy» as well.
Liechtenstein banking sector offers impressive stability
The rating agency Standard & Poor’s has classified the Liechtenstein banking sector in Group 2 of its banking industry ratings. This result therefore confirms the banking sector in Liechtenstein as one of the most stable in the world.
Swiss Exchange attests to VP Bank sustainability
VP Bank AG has been added to the SIX sustainability indices by the Swiss Exchange. This makes the bank one of 139 companies listed in the SPI ESG and SPI ESG Weighted index family.
Swiss stock exchange includes LLB in sustainability indices
Liechtensteinische Landesbank (LLB) and the LLB Group subsidiary Bank Linth meet the criteria for inclusion on the sustainability indices of the Swiss SIX stock exchange. Shares in both banks have now been listed on the SPI ESG, SPI ESG Weighted and SBI ESG indices.
LGT forms new entity to bundle sustainable investment activities
LGT has grouped its impact investing activities under a new proprietary entity. Lightrock will be headed up by Pal Erik Sjatil. Prince Max von und zu Liechtenstein will act of Chairman of the Board of Directors.
Environmental awareness on the rise within financial sector
The Liechtenstein financial sector took part in the international PACTA climate compatibility test. The results show that the country’s financial institutes continue to invest heavily in fossil fuels. Nevertheless, many are developing or already pursuing sustainable environmental strategies.
LGT makes commitment to sustainability
The LGT Group has signed up to the UN Principles for Responsible Banking. The banking group under the ownership of the Princely Family of Liechtenstein is seeking to fulfil its responsibilities with regard to ensuring the sustainability of the financial sector.
Finance sector is crisis resistant
The Financial Stability Council has attested that Liechtenstein’s finance sector has fared comparatively well in the pandemic so far. The employment market has also maintained stability. However, action needs to be taken as regards the high level of private debt.
Top rating for Liechtenstein confirmed
Standard & Poor’s has again awarded its top rating of AAA and a stable outlook to Liechtenstein. The decision was based on the Principality’s stable budget, high financial reserves and positive income situation.
