Banks are a pillar of the financial center. In the years since Liechtenstein joined the EEA, the banking sector has experienced a phase of strong growth and expansion. By the end of 2013, the banks' client assets under management, including foreign group companies, reached a total of CHF 195 billion. A significant reason for clients' trust in the Liechtenstein banks is their financial strength and stability. With an average core capital (Tier 1) ratio of more than 20%, they are among the best-capitalized banks worldwide. The banks thus offer excellent conditions for long-term client relationships.
The Liechtenstein banks are represented by the Liechtenstein Bankers Association (LBA). The LBA was founded in 1969 by the three banks in existence at the time. Today, all active and fully licensed banks are members of the LBA. The LBA thus serves as the voice of the entire banking sector in Liechtenstein. As such, it is also one of the key associations in the country and plays an important role in the successful development of the financial center. The Board of the Bankers Association is the leading body, consisting of a Chairman and representatives of six member banks. The Secretariat headed by the Director is responsible for day-to-day business.
The LBA is a member of the European Banking Federation (EBF), the European Payments Council (EPC), and the European Parliamentary Financial Services Forum (EPFSF). It is thus a member of key bodies at the European level and actively takes part in the European lawmaking process. It also operates the banks' Deposit Guarantee and Investor Protection Foundation (EAS).
In Liechtenstein, the LBA is an important partner for the Government, the authorities, Parliament, and the public. Beyond this, it coordinates the practical implementation of the regulatory requirements relevant to the banking center as well as the joint activities in the basic and continuing training of the member banks. It also organizes public events on issues relating to finance and the financial center. For the performance of its wide range of tasks, the LBA relies on nine standing committees and numerous working groups involving about 130 employees of the member banks.