One of the main banks in the tiny Alpine state has amicably settled on untaxed assets with authorities in Germany, it said.

The Liechtensteinische Landesbank late last week said it had reached an amicable agreement with the German authorities over the "untaxed assets of German clients", and will pay a one-off sum of €16.7 million ($17.8 million).

"This payment is fully covered by provisions for legal and litigation risks and will have no negative financial impact on the 2017 business year," LLB said in a statement.

"The solution reached with the authorities in North Rhine-Westphalia to settle the adverse legacy of the past establishes clarity and legal certainty. It applies to all German federal states," it added.

LLB issues its interim financial statement on 24 August.