Zürcher Kantonalbank has agreed to sell its subsidiary in Austria to Liechtensteinische Landesbank, enabling a strategic focus on core markets while allowing the Austrian operations to grow under a larger organization.

Information on the Target

The Zürcher Kantonalbank has reached an agreement to sell its subsidiary, Zürcher Kantonalbank Österreich AG, to Liechtensteinische Landesbank (LLB), a prominent private banking institution in Austria. The sale includes all employees and customer relationships, as well as the wealth management and private banking products and services of Zürcher Kantonalbank Österreich AG, which will now be integrated into LLB.

This strategic move allows Zürcher Kantonalbank Österreich AG to evolve as part of a larger organization in Austria while enabling Zürcher Kantonalbank to sharpen its focus on private banking in its core markets.

Industry Overview in Austria

The private banking sector in Austria has shown robust growth, driven by increasing wealth management needs among high-net-worth individuals and families. In recent years