1. Fundamental principles underlying financial statement reporting
VP Bank Ltd, which has its registered office in Vaduz, Liechtenstein, was established in 1956 and is one of the three largest banks in Liechtenstein. Today, VP Bank Group owns subsidiary companies in Zurich, Luxembourg and the British Virgin Islands (BVI) and a branch in Singapore. As of 31 December 2025, VP Bank Group employed 922.3 persons, expressed as full-time equivalents (as of the end of the previous year: 945.4 persons).
Wealth management and investment advisory services for private and institutional investors, as well as lending, constitute VP Bank Group’s core activities.
Values disclosed in the financial statements are expressed in thousands of Swiss francs. The 2025 financial statements were drawn up in accordance with the International Financial Reporting Standards applicable in the European Union (EU IFRS) and with Liechtenstein law.
Post-balance-sheet-date events
There were no post-balance-sheet-date events that materially affect the balance sheet and income statement for 2025.
The Board of Directors reviewed and approved the consolidated financial statements in its meeting of 27 Februar 2026. These consolidated financial statements will be submitted for approval to the annual general meeting of 24 April 2026.
Changes to the presentation
Starting in 2025, all forward components from foreign currency contracts are reported in net interest income. Previously, foreign currency contracts were also reported in income from trading activities. VP Bank Group’s net interest income is now reported in its entirety in a single income statement item instead of being distributed across two income statement items. This provides more reliable and relevant information on business transactions for the users of the annual and semi-annual financial statements. The reclassification of the above foreign currency contracts resulted in an increase of CHF 50.5 million in other interest income in the prior-year period in 2024. Income from trading activities decreased by the same amount in the prior-year period in 2024. For the full 2025 financial year, the reclassification amounted to CHF 59.2 million. The reclassification has no impact on Group net income or earnings per share.