Ranking

Winners in the overall ranking

Tribute to 1st place
Ilona Gyöngyösi
, CFA
Senior Credit Analyst, Zürcher Kantonalbank

“If you're not getting any better, then you've stopped being good.”

This nugget of wisdom from the German porcelainmaker and politician Philip Rosenthal also proved to be a recipe for success for this year’s winner. The Liechtensteinische Landesbank is hardly an unknown quantity for the final jury, with its annual report consistently among the best in recent years from both a content and design perspective.

So, a bank in 1st place – is that right and how can it be explained? Ultimately, banking is a fairly complicated business with its own special terminology – most of which is in English – and can therefore be something of a closed book for many outsiders. This is not the case with the Liechtensteinische Landesbank, which is why the final jury was so clear about making it the overall winner – one place higher than the bank achieved last year. Apart from documentingthe relevant figures correctly, an annual report should also set out the “business model” both clearly and transparently for the attention of the various stakeholders. And this is something the Liechtensteinische Landesbank has managed to do again with its report. The various interest groups also benefit from the fact that theannual report has been drafted in a way that is easy to understand,including in German.

This year’s report from the Liechtensteinische Landesbank has achieved the “golden ratio”. With considerable success, in our opinion. If the amount of space dedicated to certain things – with respect to each other – observes the concept of the golden ratio, this creates a harmonious effect. In this particular case, it means the reader can relax and simply focus on the content. The printed report impresses with its highly sophisticated approach to typography, with a nice balance achieved right down to the smallest font size.

The website reinforces the good impression created by theprint version. All information is easy to find, and the visual presentation is good too. The table tool, whichhelps with visual illustration and also supports exports in the form of image-based or Excelfiles, was recognised as the best table tool.

The jury was positively impressed by how the observations from the previous year regarding areas for improvement had been taken into account in this year’s reporting. For example, the rather contrived dialogues involving bank employees and people from outside were no longer given special billing.

The jury duly noted the changes that needed to be made retrospectively to the consolidated cash flow statement for 2018, but the assessment was not really concerned with this. The need to makechanges may be unwelcome news, but mistakes can happen. From aninvestor’s and analyst’s perspective, it would have been preferable – for the sake of clarity and transparency in reporting – to have described the additional publication of the adjustments to the consolidated annual reportsas corrections rather thanadditions. This did not detract from the overall victory, however, and the communication and IRteam can now celebratedeservedly topping this year's annual reportratings. Congratulations!