The Princely Family's bank, the LGT Group, has had a good year despite drops in profit. While the income from services rose 15% in the past year, the low interest rate environment and lower valuation gains led to a 7% decline in total operating income. Assets managed by the bank increased by 7% and are now totalling 110.7 billion Swiss francs.
Prince Max said about the past year, "We achieved good results in 2013 in an environment that remained challenging, and we are pleased with the progress we made in our core businesses. We are held in high regard by clients and relationship managers, are strategically well placed and, thanks to our solid capital base, can take a flexible approach to investing in our services and our market presence. We remain very optimistic about LGT’s future."
If you are a person super interested in all things banking, you will find more information here. In more general news, the LGT Group plans to open offices to Australia to expand their asset management branch.
Source: LGT Group, Finews