Segment reporting
Structure
VP Bank’s market areas are split into the segments “Liechtenstein & BVI”, “International” (Region Europe & Asia) and “Asset Servicing” owing to the range of services being offered and the market position. The support units are grouped under “Corporate Center”. External segment reporting reflects the organisational structure of VP Bank Group as of 30 June 2025 and the internal reporting to management. These form the basis for assessing the financial performance of the segments and the allocation of resources to them.
Earnings and expenses as well as assets and liabilities are allocated to the business units based on the responsibilities for the clients. Insofar as a direct allocation is not possible, the positions in question are reported under “Corporate Center”. Consolidation entries are also included under “Corporate Center”.
01.01.–30.06.2025
in CHF 1,000 | Liechtenstein & BVI | International | Asset Servicing | Corporate Center | Total Group |
Total net interest income | 47,812 | 24,142 | 3,476 | –2,196 | 73,234 |
Total net income from commission business and services | 32,261 | 25,197 | 16,219 | –4,659 | 69,018 |
Income from trading activities | 6,635 | 6,418 | 2,184 | 3,706 | 18,942 |
Income from financial instruments | 19 | 8,785 | 8,804 | ||
Other income | 466 | 4,586 | 304 | 5,356 | |
Total operating income | 86,708 | 56,222 | 26,484 | 5,939 | 175,354 |
Personnel expenses | 14,494 | 24,078 | 6,419 | 40,901 | 85,893 |
General and administrative expenses | 2,930 | 5,493 | 3,287 | 30,203 | 41,913 |
Depreciation of property, equipment and intangible assets | 76 | 3,350 | 264 | 11,307 | 14,997 |
Credit loss expenses | –418 | 56 | 0 | –97 | –458 |
Provisions and losses | 253 | 163 | 27 | 53 | 496 |
Operating expenses | 17,335 | 33,140 | 9,998 | 82,367 | 142,841 |
Earnings before income tax | 69,372 | 23,083 | 16,486 | –76,428 | 32,513 |
Taxes on income | 3,725 | ||||
Group net income | 28,788 | ||||
Client assets under management (in CHF billion)1 | 20.0 | 16.1 | 15.9 | 0.0 | 51.9 |
Net new money (in CHF billion) | 0.8 | 0.2 | 1.1 | 2.1 | |
Headcount (number of employees) | 164 | 253 | 92 | 486 | 995 |
Headcount (expressed as full-time equivalents) | 147.6 | 239.8 | 84.0 | 453.5 | 924.8 |
as of 31.12.2024 | |||||
Client assets under management (in CHF billion)1 | 19.1 | 16.4 | 15.2 | 50.7 | |
Net new money (in CHF billion) | –0.9 | –0.5 | 1.9 | 0.5 | |
Headcount (number of employees) | 154 | 255 | 95 | 520 | 1,024 |
Headcount (expressed as full-time equivalents) | 137.2 | 240.0 | 87.7 | 480.6 | 945.4 |
1Calculation in accordance with Table P of the Guidelines to the Liechtenstein Banking Ordinance issued by the Government of Liechtenstein (BankO).
01.01.–30.06.2024
in CHF 1,000 | Liechtenstein & BVI | International | Asset Servicing | Corporate Center | Total Group |
Total net interest income1 | 54,408 | 33,513 | 3,854 | –15,843 | 75,932 |
Total net income from commission business and services | 31,631 | 24,468 | 15,439 | –3,282 | 68,256 |
Income from trading activities1 | 6,475 | 6,635 | 1,742 | –220 | 14,632 |
Income from financial instruments | 0 | 0 | 126 | 3,396 | 3,522 |
Other income | 1 | 1,414 | –7 | –1,103 | 305 |
Total operating income | 92,516 | 66,029 | 21,155 | –17,053 | 162,647 |
Personnel expenses | 12,915 | 28,068 | 6,397 | 38,326 | 85,707 |
General and administrative expenses | 2,733 | 6,770 | 4,602 | 29,607 | 43,712 |
Depreciation of property, equipment and intangible assets | 1,787 | 3,713 | 307 | 12,878 | 18,685 |
Credit loss expenses | –48 | 225 | –1 | –87 | 89 |
Provisions and losses | 645 | 72 | –98 | 9 | 629 |
Operating expenses | 18,032 | 38,848 | 11,208 | 80,734 | 148,822 |
Earnings before income tax | 74,484 | 27,181 | 9,947 | –97,787 | 13,825 |
Taxes on income | 2,319 | ||||
Group net income | 11,506 | ||||
Client assets under management (in CHF billion)2 | 19.9 | 16.6 | 13.9 | 50.4 | |
Net new money (in CHF billion) | 0.1 | –0.0 | 0.5 | 0.5 | |
Headcount (number of employees) | 162 | 294 | 99 | 524 | 1,079 |
Headcount (expressed as full-time equivalents) | 143.9 | 280.8 | 91.2 | 484.3 | 1,000.1 |
1Changes to presentation (note 1,3 and principles underlying financial statement reporting). The prior-year comparative figures were restated by CHF 23.4 million in the segment «Corporate Center».
2Calculation in accordance with Table P of the Guidelines to the Liechtenstein Banking Ordinance issued by the Government of Liechtenstein (BankO).
Liechtenstein & BVI
The “Liechtenstein & BVI” business unit encompasses intermediary business, private banking, universal banking and lending business in Liechtenstein as well as private banking and lending business in the British Virgin Islands.
International
The “International” (Region Europe & Asia) business unit encompasses intermediary and private client business in Switzerland, Luxembourg and Singapore.
Asset Servicing
The “Asset Servicing” business unit encompasses fund management and custodial activities within VP Bank Group. The two fund management companies VP Fund Solutions (Luxembourg) SA and VP Fund Solutions (Liechtenstein) AG, both of which are legally independent entities, handle fund management activities. The custodial departments at VP Bank Ltd, Liechtenstein and VP Bank (Luxembourg) SA take care of custodial activities.
Corporate Center
The “Corporate Center” business unit encompasses Investment & Client Services, Strategic Transformation, Chief Executive Officer, Chief Financial Officer, Chief Risk Officer and Logistics. It is of great importance to banking operations and business development. In addition, those earnings and expenses of VP Bank Group that have no direct relationship to client-oriented business units, as well as consolidation adjustments, are reported under “Corporate Center”. The result of the Group’s own financial investments, funds transfer pricing and value adjustments from hedging transactions are reported in this segment.