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LLB issues 200 million bond amid strong investor demand and solid ratings
LLB has issued a bond worth 200 million, attracting significant investor interest, reflecting its strong market reputation. Group CEO Gabriel Brenna highlighted the bank's security and stability, supported by a Tier 1 ratio of 19.7% and an Aa2 Moody's rating. The ten-year bond, yielding 1.552%, will be listed on the SIX from October 29, 2024.
vp bank faces turmoil as leadership changes and layoffs loom
VP Bank is facing significant challenges, with a 55% profit drop leading to CEO Paul Arni's resignation and a restructuring plan that includes cutting 10% of its workforce. Despite these issues, the bank remains committed to its profitable German operations, focusing on private banking and wealth management, while closing its Hong Kong office and consolidating Asian business in Singapore. Competitors like LGT and LLB maintain a stronger presence in Germany, highlighting VP Bank's limited visibility in the market.
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