Assets under management climbed 6.4 percent to SFr57.1 billion, supported by net new money inflows of SFr1.4 billion. While operating income dipped 2.2 percent to SFr171.6 million due to cooling net interest income, the bank successfully curtailed operating costs by 5.3 percent to SFr135.2 million. This fiscal discipline improved the cost/income ratio by 2.7 percentage points, reaching 78.8 percent.
VP Bank Reports Profit Growth Amidst Shifting Interest Rates
Liechtenstein-based VP Bank posted a 12.7 percent increase in first-half profit to SFr32.4 million, buoyed by a rise in commission and service income. The result comes as the institution navigates a complex financial landscape, joining regional peers LGT and LLB Group in reporting recent mid-year performance figures.
Group CEO Urs Monstein pointed to the resilience of the commission business as a primary driver for offsetting interest rate pressures. Looking ahead, the bank anticipates net inflows will stabilize in the coming months, following historical seasonal trends. With a Tier 1 capital ratio of 26 percent and a liquidity coverage ratio of 157.6 percent, the firm maintains a buffer well above regulatory mandates. The bank also recently strengthened its leadership, naming Vincent Koo as chief risk officer for its Singapore branch.
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